Selling Your Home on the Big Island
The Selling Process
When you decide to sell your property, you want to know the real estate market in your area, what repairs, touch-ups, and cleanings will be necessary, and if you should leave some furniture or hire a stager.
An experienced Realtor can advise you on those questions. It is a good idea to consult with a Realtor even before you spend money on repairs, etc.
Curb appeal is very important as it is the view from the street and the first impression of the property. Enhance it by sprucing up the landscaping from the entrance to the house, cleaning and touching-up roofs and exterior walls.
Reduce clutter, clearing off kitchen and bathroom countertops, remove excess or unappealing furniture or items, and pack away personal items.
Hire a realtor to have the highest exposure of your property for sale. Realtors use a universal listing website (MLS) that many major real estate websites and property databases link to.
Pictures of the property should be attractive as the majority of home buyers use the internet to search.
The Escrow Process
1. Receive Purchase Offer
Accept or send a counter offer. Check items including financing conditions, inspection period, staking or survey, etc.
2. Open Escrow
Fill out Seller’s Information Sheet (seller’s lender and association information, etc.)
3. Receive the Title Report
Review title report and take necessary actions to fix problems with the title, if any.
4. Arrange Repairs & Inspections.
Buyer may request repairs during the buyer's inspection period. Seller must order termite inspection, staking or survey, if necessary.
5. Receive Final Approval
If buyer is financing, receive final loan approval, closing statement, schedule signing, deliver original documents to escrow officer.
6. Tax Withholding
Withholding FIRPTA (Foreign Investment in Real Property Tax Act) for foreign sellers or HARPTA (Hawaii Real Property Tax Act) if the seller is a non-seller of the state of Hawaii.
7. Deed Sent for Recording
Title Department reviews signed and notarized deed and closing documents sent to the Bureau of Conveyances for recording.
8. Close of Escrow
At closing, escrow disburses funds, keys are given to buyer.