Studio Four8 dives into how long you should expect it to take to sell your Ann Arbor Home.
How Long to Sell your Ann Arbor Home
Hey Folks this is the Studio Four8 partnership, this is Todd Waller, Sara Maddock, and Jeffrey Post. Today,
we’ve got a question for you that we think you might want answered, at least it’s a question we frequently get or at least walk through frequently with sellers. That question is: How long is it going to take to sell the house, from the time that I sit down with a realtor, to the time I’m walking away from the closing, how long is this process going to take?
One of the first things that we do is sit down, actually kind of with a process map, because the first question you want to ask is: Is there an urgency to sell the house? Maybe somebody’s being relocated very quickly and the timeline needs to be shortened up.
Condition of your Home
So once we understand that, we can set in motion certain things that we need to look at when we tour the house. Are there updates that need to happen, is there painting that needs to happen? Some people think staging a house is actually bringing furniture in, I always say staging a house is oftentimes putting things away. We all have things to put away, right? So there’s an initial consultation that takes place. Sometimes I’ll go back to a house once or twice to follow up and be like: you’ve gotten this far let’s do this, let’s do that. So that part of this process can vary a lot depending on if your house is already show perfect, it’s ready to go from day one, or there is a lot of work that we need to do.
So that’s kind of a variable there, but from that point we would get ready to take professional photography, professional videography. Now we can just walk into the home with an iPhone camera and snap some pictures, and do it. We see this all the time- unfortunately. Our process as a studio is to hire a professional photographer, professional videography, whatever the property demands as far as our marketing goes. That does take a couple of days. We want to be ready to go, to coordinate everybody’s schedules, and then it takes a photographer a couple, 2 to 3 days to process the photos, to edit them, and to upload them to the website.
While that’s happening we’re behind the scenes working on ad copy, social media platforms, all the other marketing materials and portfolio that we’re going to use to market the home once we get those photos back. Then once we have all of that, it’s time for- We call it the MLS launch.
So, the fun part in our day is when we’ve got a home coming to the market- is launch day. So now we’ve got all of the digital marketing materials together, we’ve got the photos, we’ve got the virtual tour, we’ve got the video, we’ve put it all together. We enter that profile sheet into the multiple listing system. You may have heard it as the MLS, called the real estate database, whichever you call it- it’s the database which feeds all of those websites out there. Zillow, Trulia, realtor.com, homes.com, we’re entering your information and the digital marketing into that particular platform to launch.
So now we have the consultation, we’ve had the digital photos and videos squared away. Now we’ve had the MLS launch, how long are we going to be on the market at that point in time? If we’re selling it, it takes a day. but it’s really important, as Todd says, when we hit go- everything hits go. Our printed media, our online media, we set it all up so there’s nothing missed, it’s all going out at the same time.
Cash or Finance?
From there it really depends on whether their cash offers or Finance offers. Cash offers, because there’s not an appraisal process or an underwriting process can take a shorter amount of time. Generally within that time frame you’re going to have things like attorneys review of title, an inspection, so you’re going to be sitting outside of probably 21 days at a minimum with a cash offer, If somebody’s really urgent. but otherwise with a typical lender it’s going to be 30 days to maybe 45 days.
So how long it takes to get the offer, we’re in a seller’s market in the Ann Arbor area that could be one day it could be about 2 weeks. Obviously when we do that initial consultation will talk to you about your house, your price point, your location, all of which impact what we expect the timeline for getting the offer is. but that’s basically, we’ve got the initial consultation, prepping the house for sale, getting the marketing materials ready, MLS launch day, showing the home, and obtaining the offer. So from start to finish in a typical transaction, if you counted, 60 days from the time that we first came to your property to the time that you are walking away from the closing table. If you think about 60 days, probably give or take a couple of weeks.
Anyways thank you so much for listening, this is Studio Four8 partners and Berkshire Hathaway HomeServices Snyder and Company realtors and we would love to talk to you about your home, your timeline, and your home selling goals this year.