The dreaded traditional sales process. 
  • First off you have to freshen up your house and make it presentable for a showing all while most likely still living in it.  Yes that's right the "Honey Do List" just tripled in length! 
    • Paint inside and out
    • Clean the carpet
    • Clean out the garage
    • Fix the windows
    • Straighten the doors
    • Fix the sink that takes for ever to drain
    • Finally take down the Christmas lights
    • The list goes on and on... 
  • Once the house is freshened up and presentable, you can choose to have your house professionally staged.  Basically you are renting someone's really nice furniture to make your house look like someone wants to live there. Professional staging is almost a requirement in today's market that will be an additional monthly expense and possible have hidden fees involved. 
  • The next step is finding a reputable and trustworthy Real Estate Broker/Agent who is knowledgeable and understands the market.  By hiring a competent and capable Real Estate Professional, you will minimize the Days On Market (DOM) that your house will be listed on the MLS.  None the less there is still an average of 90-200 Days on Market- depending on what area in Denver and what condition it is in. 
  • Then there is the appraisal process. This could take up to a full week to be performed and then there will be disputes of the actual value between you, your mortgage company, the county assessor, insurance company and possibly neighbors who have the same floor plan as you. There have been new rules that have been implemented regulating how the appraisals happen. Do not expect or even ask to talk with the appraiser because with the new legislation's they are expected to adhere to strict rules and regulations. Here is a very in-depth report about Financial Regulatory Reform: A New Foundation produced by the U.S. Department Of The Treasury http://www.financialstability.gov/docs/regs/FinalReport_web.pdf
  • After waiting for the right buyer to make an offer on your house you will most likely have to start negotiations of money and time line.  There are still people who are writing contingencies that they will buy your house once their last one sells.  This adds another uncontrollable factor to the already stressful time. 
  • Now once the house is under contract and is going to closing there is still one more sales contingency that seems to stop a deal dead in it's tracks and that is financing on the other parties behalf. The mortgage company can and often does pull financing at the last minute possible due to inaccuracies in the paper work or even a dispute in apprised value. This is always a stressful moment for everyone involved until you are at the closing table and signing the paperwork.  
  • Ahh yes, the paper work... There are enough signatures required that will make you have writers cramps just thinking about it. What seems like stacks and stacks of paper work that is the perfect cure for insomnia! The one thing that must be stressed is the HUD 1 form. Take as long as you need to double check and recheck that your HUD 1 form is CORRECT with ALL the information needed. Yes everyone involved are humans too and they can make mistakes too. The fact is that once you sign on the deal, you legally agree to everything that is in that document. This form is standard and required for every traditional transaction. The HUD 1 form is filled out typically by the title company with information that they receive from all parties involved. Here is a blank copy for your reference: http://www.hud.gov/offices/adm/hudclips/forms/files/1.pdf 
  • Now the day has come and it's time to pack up and move out if you haven't already. Yes technically the house belongs to the new owner after closing when you turn over all the keys. It's time to finally close that chapter in your life and move on into a smaller house or an apartment.
How does this “Traditional way” compare to The “PPS WAY?”
Click on the "PPS Way" to discover how we have simplified and accelerated this process to make it as stress-free as possible!