Seller Tips

Are you ready to sell? Great! If not, here are a few things to consider before you place
that call to a Realtor.

Showcasing your home
The very first impressions are the most important especially when it comes to selling
your home. Make sure that your house is ready -- really ready to wow the
prospective buyer. By ensuring that your home is properly priced and following a few
simple rules you can enhance the likelihood of a quick sale!

On The Outside . .
Invest in landscaping where it will do the most good anywhere that a potential
buyer can see it. But if you are going to skimp, make sure you dont do it in the front
yard where a buyers first impression is critical. Make sure you house has curb
appeal!

Keep the lawn manicured, clip those shrubs and clean those walks
If you have a lawn, give it an extra shot of fertilizer to green it up
Maintain tress and shrubs properly, especially those that prevent proper
light from getting into the house
Paint your house or at the very least, shudders, windows and door trim
Consider putting flowers just outside the front door to liven up the entry
Repaint or stain the front door and place a new welcome mat out
If your mailbox needs repair or paint, then do it

Showcasing your home
Always keeping the outside neat and orderly during the sales process is critical. But the
inside of your home needs to be clean and organized, as well, to ensure that interested
buyers can see the potential of owning your home!

On The Inside . . .
You may not think so, but the kitchen is the most important room in the house if this
room doesnt work for the prospective buyer, nothing else will matter.

Thoroughly clean everything! From the range and oven to the vent hood and sink
Scrub the floors if you have tile, clean the grout and seal it!
Keep things organized and eliminate clutter. Remove any extra appliances and
knickknacks from the counter that you dont use everyday



On The Inside (Continued)
The Bathrooms . . .
Repair any dripping faucets before you list the house
Scrub the toilet, shower and tub and keep them looking bright
Unclog any slow moving drains
Keep fresh and tasteful towels in the bathroom

Living Areas . . .
Clean ceiling and ceiling fans
When painting, stick to conventional and neutral colors repair any wallboard cracks
Wash windows inside and out and make sure that they open easily
Replace any torn window screens, replace worn curtains and bedspreads
Check and replace any defective light bulbs, and fix any switches and plugs
Clean air vents and put in new air filters
If you have a fireplace, make sure that you clean it out and it works properly
IMPORTANT straighten and organize all closets to show ample space!

How about. . .
Garage, Attic and Driveway . . .
Clean and organize the garage and attic and get rid of anything now that you
wont be keeping
Clean any oil stains, repair any major cracks with ready mix concrete
Check and oil the garage door, make sure that that the automatic door
openers work properly and you have at least two

Buyers are coming over to see your house . . .
Have your home well lit keep shades open to let in light
At night, turn on porch lights and any exterior lighting
Make sure the house is neat and clean beds are made and dishes put away
Keep toys in the kids room and the T.V. or radio off
Try to be out of the house it puts the buyer at ease and lets them roam freely
Take your pets for a walk or place them in an area that wont restrict the buyers
ability to see your property completely
If you are at home, refer any inquiries or negotiation issues to your Realtor
Let the Realtor do their job
let them show your house, never tag alo
CLOSING COSTS: WHO PAYS WHAT
This chart indicates who customarily pays what costs. Please reference the purchase contract for variations.
1. Down payment
2. Termite (Wood Infestation) Inspection
3. Property Inspection (if requested by Buyer)
4. Property Repairs, if any (negotiable)
5. New Loan Origination Fee (negotiable)
6. Discount Points (negotiable)
7. Loan Document Prep Fee
8. Credit Report
9. Appraisal or Extension Fee (negotiable)
10. Interest Proration on Sellers Existing Loan
11. Existing Loan Payoff/Payoff Demand
17. Assessments Payoff or Proration
18. Property Taxes
19. Tax Impounds
20. Tax Service Contract
21. Fire/Hazard Insurance
22. Flood Insurance
23. HOA Transfer/Disclosure Fee
24. Current HOA Payment
25. Next Months HOA Payment
26. Home Warranty Premium (negotiable)
27. Realtors Commissions
28. Homeowners Title Policy
29. Lenders Title Policy & Endorsements
30. Escrow Fee
13. Next Months PITI Payment
14. Prepaid Interest
15. Mortgage Transfer Fee
16. FHA MIP, VA Funding Fee, PMI Premium
12. Loan Prepayment Penalty (if any)
31. Recording Fee (flat rate)
32. Reconveyance & Tracking Fee
Note: Prorated items will appear on Closing Statement as charges for one and credits for the other.
33. Courier/Express Mail Fees
BUYER BUYER BUYER BUYER BUYER
BUYER BUYER BUYER SELLER BUYER
BUYER BUYER BUYER BUYER BUYER
SELLER SELLER SELLER SELLER SELLER
BUYER BUYER BUYER
BUYER SELLER BUYER
SELLER SELLER BUYER
BUYER BUYER BUYER BUYER
BUYER BUYER BUYER
BUYER BUYER BUYER BUYER
BUYER BUYER BUYER
PRORATE BUYER BUYER BUYER
BUYER BUYER BUYER BUYER
BUYER
BUYER BUYER BUYER BUYER BUYER
BUYER BUYER BUYER BUYER BUYER
BUYER BUYER BUYER BUYER BUYER
BUYER BUYER BUYER
CASH CTM FHA VA CONV
SELLER SELLER SELLER SELLER
SELLER SELLER SELLER SELLER
SELLER SELLER SELLER SELLER
SPLIT
SELLER SELLER SELLER SELLER SELLER
PRORATE PRORATE PRORATE PRORATE PRORATE
SELLER SELLER SELLER SELLER SELLER
PRORATE PRORATE PRORATE PRORATE PRORATE
SELLER SELLER SELLER SELLER SELLER
SELLER SELLER SELLER SELLER SELLER
SPLIT SPLIT SPLIT SELLER SPLIT
SPLIT SPLIT SPLIT SPLIT SPLIT
SELLER SELLER SELLER SELLER SELLER
SPLIT SPLIT SPLIT SELLER SPLIT
SELLER SELLER
BUYER
Selects a Realtor
SELLER
Selects a Realtor
SELLER
Prepares House For
Showing & Selling
BUYER
Pre-Approved By Lender
If New Loan Needed
BUYER
Views Homes with Realtor
Inspection Reports Sent
To Applicable Parties
and Reviewed
Title Commitment Received
& Approved by BUYER
Closing Documents
Prepared By
Stewart Title
Separate Appointments Set:
BUYER & SELLER
Sign Documents
Documents Recorded
And Escrow Closed
SELLER
Reviews & Accepts Contract
From BUYER
Escrow Opened At
Stewart Title
& Title Commitment Ordered
BUYER
Receives Final Loan
Approval From Lender
Loan Documents
Returned
To Lender For Review
Stewart Title
Ensures All Contract
Conditions Have Been Met
After Recording Confirmed,
Stewart Title
Disburses Funds
BUYER
Advises Lender of
Home Insurance Company
Final Documents Sent
To Interested Parties BUYER
Receives Keys
From Realtor
BUYER
Selects Home And
Submits Contract With
Loan Status Report
(LSR)
Various Inspections
Ordered
Appraisal Ordered &
Completed By Lender
Loan Documents Prepared
By Lender
And Sent to Escrow
BUYER
Deposits Required Funds
Lender Funds Loan
(Sends Funds to Escrow)
THE LIFE OF AN
ESCROW
PAGE December 2011 1

The Short Sale Seller Advisory is a resource for Real Estate Consumers
Provided by the Arizona Association of REALTORS

Understand a Lenders Options

upon Loan Default
There are many types of loans that are secured by real
property. These may be purchase loans, refinanced
loans, home-equity loans, or one of the various other
types of loans. The type of loan and type of property will
determine what remedies a lender may have if the
homeowner fails to make the agreed upon payments.
The available remedies, the homeowners overall
current or potential future financial strength, the
lenders cost in acquiring the loan and any shared-loss
or similar agreement if the loan was acquired by
purchase or merger, are some of the many factors that
the lender may consider in deciding how to proceed
when a loan is in default. For an overview of these
issues, go to www.aaronline.com/AZR/
Dec/09LoanDefaults.aspx
A short sale is a real estate transaction in which the sales price is insufficient to pay the loan(s)
encumbering the property in addition to the costs of sale and the seller is unable to pay the
difference. A short sale involves numerous issues as well as legal and financial risks. This Advisory
is designed to address some of these issues and risks, but does not purport to be comprehensive.
Be Aware of Predatory Rescue
Scams & Short Sale Fraud
Homeowners worried about foreclosure may be
susceptible to predatory rescue scams which may cost
you money with no results, result in the loss of your home
entirely, or involve you in a fraudulent scheme. For more
information, go to www.efanniemae.com/utility/legal/
antifraud.jsp or www.efanniemae.com/utility/legal/pdf/
fraudnews/mortgagefraudnews0709.pdf
Red Flags of fraudulent schemes include:
x Guarantees to stop the foreclosure
x Large upfront fees
x Instructions not to contact the lender
x Transfer of title or lease of the property
x The proposed buyer is an LLC
x Requests that the homeowner execute a
power of attorney
x The proposed buyer, at the buyers sole expense,
retains a third party to negotiate the short sale for
the sellers benefit.
BEFORE PROCEEDING WITH A SHORT SALE
1 2
PAGE December 2011 2

Report suspected scams
x Financial Fraud Enforcement Task Force
www.stopfraud.gov/
x HUD, in partnership with the Loan Modification
Scam Prevention Network
www.preventloanscams.org/
x Arizona Department of Financial Institutions at
[email protected]
x Arizona Attorney Generals Office www.azag.gov/
consumer/foreclosure/index.html#Complaint
x NeighborWorks

at www.loanscamalert.org/
default.aspx
Contact a Free HUD-Approved
Housing Counselor or Contact
Your Lender Directly
x Contact a HUD-approved housing counseling
agency online at www.hud.gov/offices/hsg/sfh/hcc/
hcs.cfm?webListAction=search&searchstate=AZ or
call (800) 569-4287 or TDD (800) 877-8339 for
advice on your options. For additional HUD
resources: http://portal.hud.gov/portal/page/
portal/HUD/topics/avoiding_foreclosure
x Contact the Neighborhood Assistance Corporation
of America at: www.naca.com/refinance/
refinanceTenStep.jsp
x Contact the lender directly. To find the lenders
contact information, check the loan billing
statement, or coupon book. Ask for the lender's
home retention department, loss mitigation
department, (or other department that handles
negotiation of loans in default); explain the
situation and find out if the lender is willing to
discuss options.
Utilize Free Services Available to
Arizona Residents
x Contact the Arizona Foreclosure Helpline
at 1-877-448-1211 (toll-free) or visit
www.housingaz.com/ShowPage.aspx?ID=248
x Review the Arizona Foreclosure Prevention
Task Force Workbook www.dbtaz.org/
flyers/2009.9.1.State.Task.Force.Wrkbk.pdf.
x Arizona Department of Housing http://
www.azhousing.gov/
This book will help you evaluate your options and
provide you with tools to take action. Additional
resources are available at:
www.azforeclosureprevention.org
Obtain Legal Advice
An attorney can advise you about your
options and legal liability.
x To find out if you are eligible for free or low cost legal
assistance, contact a legal aid organization in your
county or one of the organizations listed at
www.azbar.org/LawyersHelpingYou/freelegal.cfm or
www.azlawhelp.org/housing.cfm
x Contact the Lawyer Referral Service in your county
where you can consult with an attorney for a small fee
for a half-hour consultation.
Maricopa County: www.maricopabar.org/
displaycommon.cfm?an=16 (602) 257-4200.
Pima County: www.pimacountybar.org/web/
lawyer-referral-service-lrs (520) 623-4625.
x Attorneys who are State Bar Real Estate Law Certified
Specialists can be located at www.azbar.org/
LegalResources/findspecialist.cfm.
BEFORE PROCEEDING WITH A SHORT SALE (CONTINUED)
3
4
5
6
PAGE December 2011 3

Obtain Tax Advice
x For Mortgage Forgiveness Debt Relief Act and Debt
Cancellation tax information, go to www.irs.gov/
individuals/article/0,,id=179414,00.html
x Attorneys who are State Bar Tax Law Certified
Specialists can be located at www.azbar.org/
LegalResources/findspecialist.cfm.
Be Aware of the Consequences of
Committing Waste
Damaging the property or removing fixtures such as
sinks, toilets, cabinets, air conditioners, and water
heaters may result in liability to the lender for waste.
In other words, the lender may be able to sue you for
damages if you have physically abused, damaged or
destroyed any part of the property.
BEFORE PROCEEDING WITH A SHORT SALE (CONTINUED)
8
Loan Workout
x Reinstatement:
Paying the total amount owed by a specific date in
exchange for the lender agreeing not to foreclose.
x Forbearance:
An agreement to reduce or suspend payments for a
short period of time.
x Repayment Plan:
An agreement to resume making monthly payments
with a portion of the past due payments each month
until they are caught up.
x Claim Advance/Partial Claim:
If the loan is insured, a homeowner may qualify for
an interest-free loan from the mortgage guarantor
to bring the account current.
OPTIONS OTHER THAN SHORT SALE
CONSIDER ALL OPTIONS
A SHORT SALE MAY NOT BE YOUR BEST COURSE OF ACTION.
CONSIDER ALL YOUR OPTIONS BEFORE MAKING A DECISION.
1
Loan Modification
The lender may agree to change the terms of the
original loan to make the payments more affordable.
For example, missed payments can be added to the
existing loan balance, the interest rate may be
modified or the loan term extended. Loan modification
resources include:
x Making Homes Affordable:
www.makinghomeaffordable.gov
x National Foreclosure Mitigation
Counseling Program:
http://findaforeclosurecounselor.org/
network/home.asp
x Homeownership Preservation Foundation:
www.995hope.org
1-888-995-HOPE Hotline
2
7
PAGE December 2011 4

Refinance
If the lender will not agree to a loan workout or
modification, the homeowner may be able to refinance
the loan with another lender.
Learn more at www.makinghomeaffordable.gov/
programs/lower-rates/Pages/short-refinance.aspx
And www.makinghomeaffordable.gov/programs/lower-
rates/Pages/harp.aspx
Deed-in-Lieu of Foreclosure
The lender may allow a homeowner to give back the
property. This option may not be available if there are
other liens recorded against the property. Review the
HUD requirements at www.hud.gov/offices/hsg/sfh/
nsc/rep/dilfact.pdf
Work Out Sale
The lender may allow a specific amount of time for the
home to be sold and the loan to be paid off. The lender
may also allow a buyer to assume the loan to purchase
the property even if the loan is non-assumable.
Bankruptcy
If you are considering bankruptcy as an option, consult
with an attorney that specializes in bankruptcy cases:
www.azbar.org/LegalResources/findspecialist.cfm
Access the Arizona Bankruptcy Court self help
information by calling 866-553-0893 or visit
www.azb.uscourts.gov/default.aspx?PID=78#866
Foreclosure
Allowing the lender to foreclose is another option.
The counselors at the Arizona Foreclosure Help Line
can explain the foreclosure process, call:
1-877-448-1211
Ultimately, only you and your attorney can decide if
foreclosure is the best option for you. Attorneys who are
State Bar Real Estate Law Certified Specialists can be
located at:
www.azbar.org/LegalResources/findspecialist.cfm
Ask your attorney about the possibility of a deficiency
lawsuit after foreclosure. Assuming all statutory
requirements are met, the Arizona anti-deficiency
statutes may limit the lenders remedy to foreclosure,
even if the amount due to the lender exceeds the value
of the property.
Also, seek professional tax advice about the
consequences of a foreclosure and review the IRS
information at www.irs.gov/individuals/
article/0,,id=179414,00.html
OPTIONS OTHER THAN SHORT SALE (CONTINUED)
3
7
4
5
6
PAGE December 2011 5

Contact a Qualified Real Estate
Professional
Interview several real estate professionals and ask about
their experience in short sales, the number of short sale
transactions that they have handled, and their
education and training in short sales.
x Review the real estate professionals background
and continuing education on the ADRE website at:
http://services.AZRE.gov/publicdatabase
x Ask if the real estate professional has obtained a
short sale certification, such as the Short Sales and
Foreclosure Resource Certification (SFR)
www.realtorsfr.org/.
x Find a REALTOR at www.aaronline.com/
ConsumerAssistance/FindARealtor
Investigate Documentation and
Eligibility
Documentation and eligibility criteria for short sales vary
depending on specific lender and investor guidelines.
Generally, you must prove that you are financially
incapable of paying the loan and the lender is convinced
that it will fare better by agreeing to a sale for less than
the outstanding loan amount than foreclosing.
Determine the Amount Owed on
the Property
All debt and costs must be factored in before
determining whether a short sale is feasible. Consider
the delinquent loan, home equity loan or other loans
recorded against the property, past due homeowners
association fees, unpaid property taxes and the costs of
a sale, such as closing costs, escrow fees and brokerage
commissions. If you have more than one loan on the
1
property, be aware that a short sale will generally
require the approval of all lenders.
Determine the Estimated Fair
Market Value of the Property
You must prove to the lender that the home is worth
less than the unpaid loan balance. Consult a real estate
professional or an appraiser for assistance in estimating
the value of the property.
Consult Legal Counsel
The importance of competent legal counsel to help you
determine whether a short sale is the best option and to
advise you during the short sale process cannot be over
emphasized. See the legal resources listed on page 2 or
visit www.azbar.org.
Understand that a Short Sale May
not Discharge the Debt
Even if a lender agrees to a short sale, the lender, the
VA, or the FHA may not agree to forgive the debt
entirely and may require you to pay the difference as a
personal obligation. This outstanding personal
obligation could result in a subsequent collection action.
For example, a lender may accept the short sale
purchase price to release the lien on the property as
opposed to agreeing to accept the purchase price as full
and final settlement of the debt on the property.
Therefore, be certain of the terms of any short sale
before making a decision, consult an attorney regarding
whether the lender is entitled to pursue a deficiency
judgment and obtain any debt forgiveness agreements
with the lender in writing.
4
2
SHORT SALE CONSIDERATIONS
IF YOU DECIDE TO PURSUE A SHORT SALE,
CONSIDER TAKING THE FOLLOWING ACTIONS
5
6
3
PAGE December 2011 6

Obtain Tax Advice
A short sale in which the debt is forgiven is a relief of
debt and may be treated as income for tax purposes.
The Mortgage Forgiveness Debt Relief Act of 2007
created a limited exemption to allow homeowners to
pay no taxes on debt forgiveness; however, only
cancelled debt used to buy, build or improve a principal
residence or refinance debt incurred for those purposes
qualifies for this tax exemption. For more information
on the tax consequences of debt relief seek professional
tax advice and go to www.irs.gov/individuals/
article/0,,id=179414,00.html
Be Aware of the Impact on Your
Credit Score
The impact of a short sale on your credit score depends
upon a variety of factors, including late or missed
payments. A short sale may appear on your credit
report as pre-foreclosure redemption, paid in full for
less than full balance or other similar term.
Understand That There May Be a
Waiting Period Before You Can
Buy another Home
Your ability to qualify for a loan to purchase another
home after a short sale will likely be impacted by a short
sale and there may be a waiting period before you can
purchase another home.
Home Affordable Foreclosure
Alternative (HAFA) Program
The HAFA program was designed to give homeowners
different alternatives to a foreclosure, which include
incentives for completing a short sale. For more
information on the options available, visit the HAFA
program website
www.makinghomeaffordable.gov/hafa.html
7
To find out which option you are eligible for go to
www.makinghomeaffordable.gov/eligibility.html
To find out if your mortgage servicer participates in the
HAFA program go to
www.makinghomeaffordable.gov/get-assistance/
contact-mortgage/Pages/default.aspx
National Association of REALTORS

HAFA
brochure:
www.realtor.org/wps/wcm/
connect/3400520042baa210a512b5d4db880d7c/
HAFA+Consumer+Brochure+6.3.10.pdf?
MOD=AJPERES&CACHEID=3400520042baa210a512
b5d4db880d7c
Guidelines and Forms:
www.makinghomeaffordable.gov/get-assistance/
request-modification/Pages/default.aspx
Fannie Mae's HAFA program:
www.efanniemae.com/sf/servicing/hafa/index.jsp.
Review the Arizona Association of
REALTORS (AAR) Short Sale
Forms
AAR has developed a Short Sale Addendum to the
Listing Agreement, www.aaronline.com/documents/
SSAListing.pdf, and a
Short Sale Addendum to the Residential Resale Real
Estate Purchase Contract www.aaronline.com/legal/
forms/sample-pdfs/sample-short-sale-addendum.pdf
to assist in a short sale transaction. Review these
contract forms and any other forms you are asked to
sign so that you thoroughly understand your rights and
obligations.
For More Information, Visit:
The Arizona Department of Real Estate website:
www.azre.gov/
AARs Consumer Foreclosure Assistance Links:
www.aaronline.com/documents/ForeclosureLinks.aspx
11
8
SHORT SALE CONSIDERATIONS (CONTINUED)
9
10
PAGE December 2011 7

Short Sale
Seller Advisory
A Resource for
Real Estate Consumers
Provided by the
Seller acknowledges receipt of this
Advisory and further acknowledges that
there may be other issues of concern not
listed herein. The information in this
Advisory is provided with the
understanding that it is not intended as
legal or other professional services or
advice. These materials have been
prepared for general informational
purposes only. The information and links
contained herein may not be updated or
revised for accuracy. If you have any
additional questions or need advice,
please contact your own lawyer.
SELLER ACKNOWLEDGMENT
^ SELLER SIGNATURE DATE
^ SELLER SIGNATURE DATE

1 Before Proceeding with a Short Sale
0nueistanu a Lenueis 0ptions upon Loan Befault
Be Awaie of Pieuatoiy Rescue Scams Shoit Sale Fiauu
Repoit Suspecteu Scams
Contact a fiee B0Bappioveu housing counseloi oi contact youi lenuei uiiectly
0tilize fiee seivices available to Aiizona iesiuents
0btain Legal Auvice
0btain Tax Auvice
Be Awaie of the Consequences of Committing Waste
3 Options other than Short Sale
Loan Woikout
Loan Nouification
Refinance
BeeuinLieu of Foieclosuie
Woik 0ut Sale
Bankiuptcy
Foieclosuie
5 Short Sale Considerations
Contact a qualifieu ieal estate piofessional
Investigate uocumentation anu eligibility
Beteimine the amount oweu on the piopeity
Beteimine the estimateu faii maiket value of the piopeity
Consult legal counsel
0nueistanu that a shoit sale may not uischaige the uebt
0btain tax auvice
Be awaie of the impact on youi cieuit scoie
0nueistanu that theie may be a waiting peiiou befoie you can buy anothei home
Bome Affoiuable Foieclosuie Alteinative BAFA Piogiam
Review the Aiizona Association of REALT0RS

shoit sale foims

Foi moie infoimation
7 Seller Acknowledgment
TABLE OF CONTENTS

1 Before Proceeding with a Short Sale
Be Awaie of Pieuatoiy Rescue Scams Shoit Sale Fiauu
Be Awaie of the Consequences of Committing Waste
Contact a fiee B0Bappioveu housing counseloi oi contact youi lenuei uiiectly
0btain Legal Auvice
0btain Tax Auvice
Repoit Suspecteu Scams
0nueistanu a Lenueis 0ptions upon Loan Befault
0tilize fiee seivices available to Aiizona iesiuents
Options other than Short Sale
Bankiuptcy
BeeuinLieu of Foieclosuie
Foieclosuie
Loan Nouification
Loan Woikout
Refinance
Woik 0ut Sale
5 Short Sale Considerations
Be awaie of the impact on youi cieuit scoie
Consult legal counsel
Contact a qualifieu ieal estate piofessional
Beteimine the amount oweu on the piopeity
Beteimine the estimateu faii maiket value of the piopeity
Foi moie infoimation
Bome Affoiuable Foieclosuie Alteinative BAFA Piogiam
Investigate uocumentation anu eligibility
0btain tax auvice
Review the Aiizona Association of REALT0RS

shoit sale foims

0nueistanu that a shoit sale may not uischaige the uebt
0nueistanu that theie may be a waiting peiiou befoie you can buy anothei home
7 Seller Acknowledgment

INDEX

Helpful Hints -- Seller checklist

APPRAISAL PROCESS
The bottom line if your house does not appraise for the sales price, the buyer can
walk away from the deal. It is imperative that you price your home correctly! Now
that we got that out of the way, here are some things you need to know about the
appraisal process:

1. When you sell your home, the buyer must secure a loan in order to purchase it. The
lender requires that an impartial licensed appraiser estimate the fair market value
of the property and demonstrate to the lender that they are making a prudent loan
decision.

2. The cost of the appraisal is negotiable, however, the lender will only order the
appraisal after the buyer has completed the loan application process.

3. The appraiser will begin by researching similar properties that have sold in the past
180 days and are similar in size, age, construction, as well as amenities

4. The appraiser will then set up an appointment with you. Please note that the appraiser
will take approximately 30 minutes to an hour to review your home. They will
measure your home, draw a representative floor plan, take photographs inside and
out, and examine the house for its condition, specific improvements, features and
amenities. You can help by:

Preparing a list of recent improvements and remodeling efforts
Include the approximate amounts spent for each improvement

5. Appraisers then provide a typed report to the buyers lender within a few days. You
may be told that the appraiser has some repair requirements before the lender will
loan the buyer the money to purchase your home. In this case, if specified in the
contract, you must repair these items and the appraiser will return to review that the
required repairs have been made. You will probably be charged a re-inspection fee in
the event that this is occurs.


Helpful Hints -- Seller checklist
HOME WARRANTY
1. What is it? It is an insurance policy that covers a variety of mechanical,
electrical, and plumbing items as well as some appliances inside the home. The
home warranty policy is designed to protect the seller during the listing period
and a buyer one year after the close of escrow -- against repair costs for
mechanical systems and major appliances.

2. The cost of home warranty policy is a one-time fee, which either the buyer of the
seller can pay at the close of escrow. It is renewable annually after that for the new
property owner.

3. The seller, if they so choose, may purchase a home warranty plan prior to selling their
home in order to protect against repairs needed during the listing period. The buyer
then has the option to assume the policy at the close of escrow, or the seller may offer
to purchase a warranty policy for the purchaser. Offering a Home Warranty plan can
provide these benefits:

Increase the marketability of your home by reassuring the potential buyer
Help sell your home faster
Prevent potential disputes after the sale for repair and/or replacement of covered
items
Provide for replacement or repair of major or minor plumbing, heating, or
Electrical problems during the policy period at a nominal service fee per incident
Ensure that a full network of qualified technicians is at your service
Protect you or your buyers budget against unexpected expenses for repairs
or replacement of systems in your home for the first year of ownership and
renewable coverage in subsequent years if so selected.


Helpful Hints -- Seller checklist
INSPECTIONS
1. The standard real estate purchase contract used in the state of Arizona contains a
provision that allows the buyer to physically inspect the property being
purchased, either by himself or by a professional inspector all within the first 10
days of acceptance of the contract by the seller.

2. It is your obligation to provide access to your property during this 10-day inspection
period, for whatever inspections the buyer requires. Below is a list of common types
of inspections:
Structural Pest Control to determine if there is any active infestation by wood
destroying organisms. Such as:
Dry wood termites
Carpenter ants
Carpenter bees
Wood destroying fungus
And Structural Earth to Wood Contact that may impact the structure in any way
Physical Inspection can also encompass the roof, plumbing, electrical, heating
and any other accessible area of the property. But in the end:

All inspectors will write a detailed report with recommendations for
repairs that the buyer wishes the seller to be responsible for
If the seller agrees to the repair list, these items must be completed
prior to the close of escrow. If the buyer is not satisfied with the report
findings or subsequent repairs, they can walk away from the deal!

3. Other Common Inspections may include:
Well and Septic
Hazardous materials
Chimney
Heating and Cooling
Land Survey
Zoning and Building permit compliance

Structural engineering

Helpful Hints -- Seller checklist
MOVING TIME REMINDERS
1. Former Home

Change of Address Notices
Forwarding address at Post Office
All creditors notified, including credit cards
Newspapers and periodicals notified
All bank accounts if coming to or from out of state, arrange for wire transfer
of funds

Utilities to Cancel
Telephone (ask about any deposit refunds)
Gas and/or Electric
Water Services
Trash pick up
Cable or Satellite

Moving Day Items
Empty refrigerator
Pet transportation or boarding
Cash / Checkbook available for travel
Plan to handle / carry valuable
Arrange for automobile transfer if necessary
Leave keys and garage door openers with Realtor
Provide any codes for garage door openers or security systems to Realtor
Pack vacuum cleaner and cleaning supplies

Medical Services
Arrange for transfer of medical and dental records if necessary
Arrange for transfer of veterinary records for pets

Children
Arrange for transfer of school transcripts
Arrange for games or sitter to keep them occupied on moving day


Helpful Hints -- Seller checklist
MOVING TIME REMINDERS
2. New Home

Change of Address Notices
Arrange for carrier to hold mail for arrival

Utilities to turn on
Telephone
Gas and/or Electric
Water Services
Trash pick up
Cable or Satellite

Municipal / State Licenses or Services (if out of state)
Drivers license notify of move and/or apply for a new one
Auto registration and/or move notification
Voter registration and/or move notification

Medical Services
If local physician and dental referral and ensure records are received
If local obtain veterinary referral and ensure records for pets are received

Children
School registration