The Selling Process

We realize the decision to sell your property here in the Deep Creek Lake and Garrett County area is often a difficult one to make. Not only does it require financial consideration, but it also involves many emotional factors as well. Our sales agents understand that each seller has a unique situation and will recommend the proper course of action to take. If you're thinking about selling your property, the following quick overview will help you understand how the entire process works.
 

Get the Professional Assistance of a REALTOR

Our sales agents are very experienced in selling the many different types of properties found in the Deep Creek Lake and Garrett County area. These types of transactions are sometimes complex in nature. They can often involve different family members and sometimes have very large financial, tax and legal implications. Plus, if you are a non-resident of the state of Maryland, which is a very common situation for property owners in this area, you will have the Non-Resident Withholding Tax to deal with. If you do hire one of our sales agents to represent you, it is our goal to get you the best price, terms and conditions possible with the fewest hassles. Our convenient and time-saving services will handle many of the details and much of the legwork for you.

Determine Your Property's Value

Our sales agents have a great deal of experience selling a wide variety of property. They can accurately assess your property's value based on the market and its unique features and characteristics.  While it is our goal to get you the best possible price for your property, our agents will be very frank with you when determining its potential value. We pledge not to give you a high expectation just to get a listing. After all, if the listed price is too high or unrealistic, there is a good chance that both your valuable time and ours will eventually be wasted.  If you would like to get a better idea of how much your property is currently worth, please click on the following link to get a Free Comparative Market Analysis.

Staging Your Home

In order to get the best possible price for your property, certain repairs and improvements may need to be completed prior to putting it on the market. Before or at the time of listing, one of our agents would be glad to tour your property to make recommendations as to what may need to be done. We have provided a more comprehensive list of things to do to increase your curb appeal and improve your chances of selling for a higher price on our Selling Tips page.

Listing Documents

If you have decided to list your property with us, the following documents will be required:

• Listing Agreement - which will define the asking price, marketing fee, and length of time we will exclusively try to sell your property.
• Disclosure Statement (optional) - a statement filled out by the seller that will let any potential buyers know any pertinent facts or latent defects about the property.
• Disclaimer Statement (optional) - if you choose not to Disclose, you may Disclaim making no representations or warranties about the property.
• Inclusions & Exclusions - a list of what furniture and fixtures are staying with the property and what is leaving.
• Understanding Whom a Real Estate Agent Represents
• Consent for Dual Agency (Optional)
• Deep Creek Lake Buydown Addendum - if applicable

These are the main forms required. Some properties might require additional forms and addendums.

Marketing Your Property

Once your property is listed, we will immediately begin to market your property for sale. Our marketing program, in conjunction with our relationship with Railey Mountain Lake Vacations, will expose your property to more potential buyers than any of the other area brokerages. Being presented to more potential buyers will give you the greatest possible chance at selling your property quickly and at the highest and best possible price. The highlights of our marketing program include a full listing in our local MLS and full exposure at our website -www.deepcreek.com - the area's most comprehensive and easy-to-use web site. Click here to find out more details about our Marketing Program - how it works and what we will do along the way.

Negotiating Offers

When an offer is presented on your property you will more than likely have to negotiate the following terms and conditions with the potential buyer:

• Purchase Price
• Settlement Date
• Deposit Amount
• Contingencies such as Financial & Inspections

Dealing with Inspections and Contingencies

More than likely, your contract will permit the Buyer to perform various inspections at their cost. The seller must make the property available for these inspections. In Maryland, once all the Property Inspections are completed, the buyer will usually have the option to void the contract altogether or submit a list of the items that need to be addressed or fixed by the seller prior to settlement. If the seller:

agrees to address some or none of the items, the buyer usually has the option to either void the contract and get all deposit monies back or continue on with the transaction.

agrees to fix all of the items, the Buyer does not have the option to void the contract and the Seller must have all items fixed prior to settlement, allowing for sufficient time for the Buyer to do a re-inspection if they desire.

The Settlement

In the days leading up to settlement, the Seller usually must address the following items: Moving all furniture and personal items out of the property as specified by the listing agreement and contract of sale; Notifying the various utility companies to cancel service; Notifying your insurance agent that you will no longer own the property; Providing the intermediary information to the closing attorney if you plan on doing a 1031 tax deferred exchange.

The Seller does not need to be physically present for the settlement. Long-distance settlements occur all of the time at Deep Creek Lake and Garrett County - via overnight mail, fax, and a few e-mails. If all parties are present, closings are usually administered by a closing attorney, settlement agent, or title company. The sellers will be asked to sign the deed and any other forms required at the conclusion. The closing attorney will record the new deed and discharge all previous obligations of the seller.

Click here if you are interested in selling your property or learning how much it may be worth