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Sellers
Selling a home is a
complex endeavor but can be made much easier if you understand the process
and the order of the transaction.
Take a moment to review
our buying process made easy links, then contact us anytime with
questions
Selling Agents
There are two sides to a Real
Estate Transaction. The listing agent is the generally the agent for the
seller and the buyer agent is usually the agent for the buyer. However,
the agent may be a transaction broker which helps facilitate the
transaction while being fair and impartial to both parties.
Pricing and Timing
Pricing your
property accurately is one of the most critical decisions you will make.
A well priced listing is
the most important factor in marketing the property for top price.
Naturally, listing a property too low will preclude the opportunity for
getting top dollar. On the other hand, setting the price too high
discourages showings and tends to eliminate the most likely buyers from
viewing the property.
The six major factors
affecting value are:
- Supply and Demand
- Location
- Interest Rates
- Seasonal Markets
- Changing Demands
- Consumer Confidence
Obviously, everyone would
like to sell in a "seller's market" where there are few properties
available for the amount of buyers. This is not the real world most of the
time. Whatever the market is at the time you sell, the primary determining
factor of how quickly your property sells is the price.
Properly priced property
sells faster and for more money during the first weeks of the listing.
Pricing a property higher than justified can cause you to miss the prime
marketing period.
Preparing to Sell
HOMES TEND TO SELL
MORE QUICKLY AND FOR HIGHER PRICES WHEN THEY LOOK THEIR BEST.
CREATE CURB
APPEAL: The value of curb appeal is in
enticing drive-by buyers to want to come inside the home. The yard should,
at least, be comparable to the neighborhood. Adding a splash of color by
planting annuals along the entryway helps.
CLEAN!
CLEAN! Have the carpet shampooed; wash and
clean the windows, blinds, drapes and lighting fixtures.
KITCHENS AND
BATHROOMS: Clear off counter tops. Maximize
the available counter space. These rooms should be gleaming. If unsightly,
have the tub re-caulked and remove mineral deposits and grime from the
shower walls. Clean the stove, microwave and refrigerator.
REPAIRS:
Identify and repair dripping faucets,
sticking or creaking doors, etc.
FURNITURE:
The less furniture, the larger a room
appears to be.
A LIGHT
APPEARANCE: As a rule, do everything to
lighten the appearance of the home. Raise the blinds, open the drapes and
use light colors.
THE HOUSE:
Take a close, careful look as you walk
through the house. Pick up clutter and anything that looks out of order or
dirty. Repair or replace anything that looks loose, dingy, rusted or
broken. Make sure the doorbell works. Replace the tired looking mail box.
THE GARAGE: The time has
come! Discard virtually everything in the garage that hasn't been used for
a year. Stack everything else neatly as possible.
THE YARD:
Trim the trees and shrubs. Lay down some
ground cover. Mend the fence, and fix the gate latch. Consider some new
plants.
The Offer
The offer should be
carefully reviewed and considered. A letter of pre-approval from a lending
source should accompany an offer. Don't be offended is the offer seems
extremely low. Simply
Appraisal and Inspections
Appraisals:
Your buyer's lender will most likely want
the property appraised. It is in your best interest to allow the appraiser
into your house as soon as possible. The faster the appraiser sends the
completed appraisal to the lender the sooner the lender will make their
final decision on the buyer's loan. This is for your benefit as well as
the buyer.
Inspections:
The buyer has the right to have a wide
variety of property inspections to determine the property's condition.
These inspections can include, but are not limited to: roof, termite/pest,
chimney/fireplace, property boundary survey, well, septic, pool and spa.
The costs of the inspections are usually paid for by the buyer, and the
seller may be responsible for any repairs. The responsibility as to who
pays for repairs of any problem that may be found should be clearly
defined in the purchase contract.
Home Buyer
Protection Warranties : There are a number
of companies that offer home warranties to home owners. These warranties
can cover almost every mechanical device in a home up to and including a
garage door opener. As a seller you may want to offer this warranty at the
time you list your property for sale. It's a great selling tool, and it
will give potential buyers peace of mind.
Prior to Closing
Final Walk
through Inspection: Quite a few buyers like
to do a "walk-through" prior to signing the final loan and purchase
documents. Be sure that the property is in a similar condition to when the
buyers first looked at the house.
Home
Services and Utilities: A few days prior to
the close of escrow call all your utility companies and tell them you're
moving. It's polite to notify them that new buyers are moving in and will
be calling to establish service. This will keep the utility companies from
turning service off completely.
Close of
Escrow: This is the last step in the
selling process. The title company will prepare a closing statement
showing what loan(s) you are paying off on the property, pro-rated
property taxes, fees for escrow and title and a deed for you to grant
title to the buyer. IMPORTANT: Prior to the close of escrow make
arrangements with the escrow officer as to how to disperse funds to you.
If you aren't going to be in town to pick up a check have the title
company "wire transfer" the funds directly to your bank account. There is
a minor fee for this; however it's better than waiting on the check to
arrive in the mail!
To begin, simply call us
or visit our
Contact Us Link
and let us know your specific housing needs. One of our
experienced Licensed Realtors will begin helping you promptly. From the
first contact, you will see that our service and professionalism are
second to none. Contact us today
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