Steps to Selling

Hire An Agent

• Interview and Select: Choose a realtor with a proven track record specifically in the Gaithersburg, MD market.
• Sign Listing Agreement: This contract grants the agent the exclusive right to market and sell your property for a set period.

Valuation and Strategy

• Comparative Market Analysis (CMA): Your agent will provide a CMA, comparing your home to similar recently sold properties ("comps") in your neighborhood to determine the Fair Market Value (FMV).
• Set the Price: Based on the CMA and current market trends, you and your agent will set a strategic Listing Price designed to attract the most buyers.
• Review Costs: The agent provides a Seller Net Sheet estimating your final proceeds after commissions, taxes, and closing costs.

Inspection and Disclosure

• Maryland Disclosure: You must complete the Maryland Residential Property Disclosure/Disclaimer Statement, disclosing any known defects.
• Prep and Staging: Declutter, depersonalize, perform necessary minor repairs, and deep clean. Staging (either professional or through the agent's guidance) ensures the home photographs and shows well.

This phase involves attracting buyers, securing an offer, and moving into contract.

Marketing

• Professional Media: Your agent coordinates professional photography, possibly drone shots, and a virtual 3D tour.
• Listing Activation: The property goes live on the Multiple Listing Service (MLS), which automatically feeds the listing to major real estate sites (Zillow, Realtor.com, etc.).
• Showings: The agent coordinates private showings and potentially open houses.

Receiving and Reviewing Offers

• Present Offers: Your agent presents all offers, detailing the Sales Price, financing type (cash vs. loan), the size of the Earnest Money Deposit (EMD), and all contingencies (e.g., financing, home inspection, appraisal).
• Negotiation: Your agent guides you in issuing a counteroffer or accepting the most favorable terms.
• Ratification: Once both parties sign the final version, the contract is ratified, and the home is officially "Under Contract."

Contingency Removal

• Home Inspection: The buyer hires an inspector. They may request that you make repairs or grant a credit. This is a major negotiation point.
• Appraisal: The buyer's lender orders an appraisal to ensure the home's value justifies the loan. If the appraisal comes in low, this can trigger a price renegotiation.
• Financing: The buyer works with their lender to get final loan approval.

Title and Settlement

• Title Search: A title company or attorney conducts a title search on the property to ensure there are no legal liens, claims, or encumbrances.
• Document Prep: The title company prepares the necessary legal documents, including the deed and the Closing Disclosure (CD), which details all final costs for both parties.

Closing Day

• Final Walk-Through: The buyer typically conducts a final walk-through 24 hours before closing to ensure the property is in the agreed-upon condition.
• Settlement: The buyer and seller meet (often separately) at the title office to sign all documents.
• Transfer: Once the title company records the deed with Montgomery County, the funds are disbursed, the seller receives their net proceeds, and the buyer receives the keys. The sale is complete.