Selling a Home
If you are thinking of selling your home, chances are you're caught up in a mass of emotions. You may be looking forward to moving up to a new home or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new and exciting adventures. Although it’s possible to handle a real estate transaction on your own, there are potential problems involved. Without an agent, something as simple as getting people to look at your house can become a challenge. Opting for an agent gives you visibility and guidance throughout the process. Remember, I am here to help you with any of your needs. Call or email me today!
Getting the Home Show Ready
Your Home's first impression is always important, you know what they say "You Never Get a Second Chance to Make a 1st Impression" the same goes for your home. Getting your home into top showing condition is one of the most important things you need to do before starting to market your home.
The first thing to consider in getting your home ready to sell is the curb appeal. Make sure the home is visible so prospective buyers will have a favorable impression when they drive by the home. The next step is crucial before starting to show your home. Make your home bright, inviting, uncluttered, and SPOTLESS!
Start by packing up the clutter and items that are seldom used. Pack up excess family pictures, personal items etc. Prospective buyers need to imagine their personal items in the home not yours! Paint and clean carpets as needed, then CLEAN-CLEAN-CLEAN paying special attention to the kitchens and the bathrooms.
Leave on lights in dark areas when you know there is going to be a showing, turn on all lights and lamps.
Go around the perimeter of the house and move all garbage cans to a discreet location, remove any/all debris etc. Check gutters and roof. Make sure they are clean of debris.
Keep plants from blocking windows. You can't sell a house if you can't see it.
Weed all planting areas. Keep lawn freshly cut, fertilized, and watered. Remove any dead plants or Setting shrubs.
Clear patios and decks of all small items, such as small unused planters, flower pots, charcoal, barbecues, toys, etc.
Curb appeal and the lack thereof will make or break a sale!
Setting a Price
The right price for your home is CRITICAL. Despite what some new national web sites are trying to make the public think, pricing a home to sell is an art, not a science.
When pricing your home for sale, proper initial pricing is very important. I will show you a Comparative Market Analysis on your home and we will talk about the current real estate market conditions.
But you may not agree... perhaps you are thinking
“But I need to leave plenty of room for negotiation” although low offers do occur, prospective buyers are usually just trying to find your bottom line. All you need to do is counter-offer.
“But I can always come down” Often when a seller starts out high, they end up selling the home at a much lower price than they would have sold it for if it had been priced right initially. And it takes longer!
"But we've been getting showings" When buyers and their agents look at listings that are priced too high, they compare it against homes that are priced right and usually purchase the other home. There are always homes on the market that have been listed too high this makes selling properly priced homes EASIER to sell!
“But I'm negotiable, they can always make an offer” Buyers know everything is negotiable, but will only look in the price range where they are comfortable and have been pre-qualified for by their lender. If the home price is out of line, the buyers will tend to think the sellers are unrealistic
“But can't we try it for a few weeks” Sure, but you might miss potential prospects. Real Estate Professionals and buyers will notice your home and think; Boy, that one's overpriced they must be crazy! They'll keep that opinion for the life of the listing - even after you lower the price. Those few weeks can be fatal!
Under state law, sellers must reveal problems that could make buyers reconsider their purchase. This can include anything from deed restrictions to issues with the foundation. A buyer might sue you later if you fail to disclose.
Sales Price: What you will accept for a sale price is a very personal decision/choice. Make sure that you have considered all the expenses you will have incurred before agreeing to a final price. If the buyer offers lower than you were anticipating, don't let your emotions blow the sale. Remember, everyone wants to negotiate so they can get the best "deal" possible. Keep negotiating!
Personal Property: Both parties need to come to an agreement about what personal property stays in the house and what's not. This needs to be on the contract to prevent misunderstandings.
Closing Date: The closing date needs to provide enough time for the loan processing, appraisal, survey and title work to be done.
Possession Date: The possession date is normally the day of closing or the day after closing. If you decide to let the buyer move in early or you retain possession after closing (rent back), liability, insurance and financial issues relating to the pre or post possession need to be put in writing.
Taxes: Taxes are pro-rated at closing. You will pay the buyer at closing for every day that you have owned the house and that the taxes have not been paid, remember we pay taxes in arrears. The buyer or their lender will then pay the taxes at the end of the year.
Most buyers most likely will want to have professional inspections completed to make sure they don't buy a home with any major surprises. Don't let the surprise be on you.
Before a closing can take place, many things have to be taken care of. Here are just a few items needed to be completed:
Appraisal must be ordered and completed and the home MUST appraise out.
The loan has to be approved and funded.
The title work has to be done. Any title problems have to be resolved before a Title Insurance Policy can be issued.
The buyer has to arrange for homeowner's insurance.
A survey needs to be ordered and completed.
All of the taxes have to be checked. Unpaid taxes have to be paid and the taxes for the current year have to be prorated.
Then it's finally time for closing and possession!