You love your home. We know you do. Now that’s it’s time to move on, selling your house may seem even more complicated than buying it! With the support of trusted RE/MAX Alliance we are here to help you sort out your priorities, organize your game plan and navigate a sometimes turbulent set of challenges to achieve your goal.
The first thing we do is sit down with you for an
- What are your needs?
- What is your time frame?
- What are your goals?
- Are you ready to sell your house?
It’s important to be prepared in the fast paced real estate market. It can be pretty scary to think about selling your beloved home before you know where you are going. Unfortunately, it may be difficult to purchase a new home contingent on the sale of the your present property. If you intend to buy a new home, be aware that most sellers will only consider this with a remarkably stressful “first right of refusal.”
(A first right of refusal delineates an amount of time (normally 24-72 hours) you have to sell your home if there is another offer on the home you want to purchase. After that you must remove the contingency or terminate your offer.)
During our initial consultation with you, we want to develop a game plan that works to sell your home before attempting to purchase a new one. As soon as your home is under contract, finding your new home becomes our priority.
(Note: If you plan to purchase a new home, it is important we coordinate timing with the builder. Normally the best time to put your current home on the market is when your new home is about 60 days from completion.)
Our years of expertise can help to guide you through the ups and downs of parting with your current home as well as helping you to feel good about moving on. The most important factor to consider is selling your home at the right price, at the right time, and within your own time schedule. Does it sound like a juggling act? We can be there to help you maintain your balance.
Here are some tips about how to SELL YOUR HOME:
DETERMINING MARKET VALUE
- Having Your Home on the Market
- Preparing for Showings
- Preparing for Showings
- Negotiating Offers
- Inspection Process
- Loan Approval
A priority decision for home sellers is setting the correct initial price. It has been proven that setting the price correctly within the first 2 weeks will ensure the highest net profit. In fact, setting the right price impacts both the amount of time it takes to sell the property and the final sales price.
When it comes to effectively pricing a property and understanding today’s market, we offer expert guidance throughout the complicated process of selling in today’s market.
Don’t get stuck trying to sell your home at the wrong price!
The Impact of Overpricing cannot be overstated. It can have negative effects that may slow you down.
Here are some of them:
- Helps your competition sell their homes
- Reduces sales associate activity
- Reduces advertising response
- Sends interested buyers to other properties
- Attracts the wrong prospects
- Eliminates offers
- Can cause appraisal problems
- Extends market time
- Home becomes stagnant
- Agents are less likely to show
- Buyers assume there is something wrong with it, or it would have sold already
- Encourages lower offers
Remember is that a home is truly worth what a buyer is willing to pay!
Here are some of the factors that we will help you consider:
- Comparative Market Analysis
- Comparable Property Data
- Market Conditions and Competition
- Mortgage Conditions and Outlook
We can also break this down into:
Buyers deciding what to buy and what to offer based on the amount of choices they have.
What’s going on with the housing market.
The single factor with the greatest affect on value.
How your house presents itself affects both the offers and the speed of sale.
This is also known as a buyers’ market, where an abundance of choices allows them to set their own terms.
How the housing market is setting the baseline prices.
During our initial consultation here’s what we will discuss:
COMPARATIVE MARKET ANALYSIS
"How much is my home worth?” “How long will it take to sell?” “Should I ask for more?” We present you with a detailed consideration of the variables that may affect the value and marketability of your home.
COMPARABLE PROPERTY DATA:
With the support of RE/MAX Alliance behind us, we research properties similar in type, size, price, and amenities to add to our analysis.
MARKET CONDITIONS AND COMPETITION
We assess how the economic outlook, seasonal trends and competition may affect your home sale.
MORTGAGE CONDITIONS AND OUTLOOK
We bring you up to date information on how changes to mortgage interest rates may influence your potential buyer base.
As mentioned, location is an uncontrollable factor. However, we use proximity to schools, parks, shopping and transit as part of our total analysis in order to set a price.
HAVING YOUR HOME ON THE MARKET
Now that you have set your price, it’s time to get your home into the best possible shape for a fast, easy sale. As we noted under controllable factors, it’s best to present others with a home that is as lovely as you believe it can be.
Being home can often hurt the selling opportunity and even make potential buyers nervous. It’s always a good idea to leave the house. Go for a walk or out to eat. Leave the clients with their agent and us.
A good first impression is crucial to a home sale. Close the garage door for showings. Remove extra cars from the driveway or move them so they don’t block the view of your house from the street. Hide the garbage bins.
Consider planting flowers in the beds and in pots to add color and charm. Repair any exterior trim, gutters, planters or mailbox. You want your house looking fit -- not sagging or tilted.
Trim lawns and shrubbery, weed the flowerbeds, rake away leaves and sweep the walkways. Clean or paint your front door, entry area and steps in the front yard.
Make sure your home appears at its best!
Fix items in your house that are not in perfect working order. Do it right and don’t cut corners. Buyers can pick up on cheap fixes!
- Tighten or repair any loose knobs, sticky doors and windows.
- Repair any poorly functioning light switches.
- Make sure the caulking and grout in the bathrooms looks good and fix all leaky faucets.
- Replace any burned out light bulbs.
A fresh smell of paint implies cleanliness. Consider applying a neutral colored coat of paint that enhances the details of the decor. Remember to touch up interior trim.
Clean the house thoroughly and try to maintain that sparkle throughout the selling process. Make the appliances shine. Vacuum and shampoo the carpets and polish the floors. Dust the house and make sure to get rid of flies or moths in lighting fixtures. Clean the windows inside and out.
Keep the kitchen spotless with clutter free countertops.
Remove clothes you don’t wear often so closets appear larger. Remove clutter, extra furniture, pictures and personal items from your home. You are selling the house— not you!
Staging has become a well-respected concept for selling a home. It’s especially useful for virtual tours. We can connect you with a staging expert who will demonstrate the best of your house through artfully arranged interiors. It’s often the most effective way to garner buyer interest.
Buyers often get first impressions of a home from the photos in the MLS listing which they automatically receive in an email from their agent or from a search created privately online.
Properly lit, high-resolution photos are the only type of pictures that should be used in a home marketing campaign and online. We always work with high definition photography and give your home the star treatment. Of course, a clean, well-lit, and de-cluttered home is the best to photograph. We will wait to go active on the market until we have the best photos to ensure your home is seen by many “ready, willing, and able” potential buyers in the first hour of listing!
MARKETING STRATEGY AND SHARING FEEDBACK
Our strategy, supported by RE/MAX Alliance, includes tangible media and digital outlets to get your property viewed by as many people as possible. We employ yard signs, custom brochures, postcards, mobile apps, virtual tours, You Tube, Facebook and other social media sites. Of course we have agent-to-agent sharing to expand our reach even further.
The MLS (Multiple Listing Service) is used by real estate agents like us (as well as buyers) to find prospective homes. We belong to two MLS systems, which gives your home double the exposure in any given market area. We will list your home and, when it is selected for a showing, we will schedule the appointment.
The normal appointment includes a range of time when the prospects expect to arrive. Coordinating with the showing service, we will contact you personally, text you or leave a message, letting you know your home will be shown based upon your showing instructions. “Appointment Only” showings are set for a specific time, arranged with you, and then confirmed by us.
You may also choose a “Go & Show” which does not require contact. Instructions and lock box information is given to the Buyer’s real estate agent after we notify you.
Maintaining a “show-ready” home is not always easy. The sooner your home is under-contract, the sooner you can rest a bit!
NEGOTIATING A CONTRACT
When a buyer makes an offer to purchase your home, their real estate agent will contact us. We will prepare a sample net sheet for each offer and review each offer with you.
You may accept an offer or you may want to make some changes, in which case we will put together a counter-offer. We are there for you at every step!
There are two important considerations in accepting an offer. First, a letter from the prospective purchaser’s lender should be included or obtained. Only pre-qualified or pre- approved buyer should be considered. And secondly, the amount of earnest money offered must be sufficient.
Every offer should be considered, taking into account the many variables contained within each one. We will be there to offer guidance and expert advice so you never feel alone.
Before you accept any offer, it’s good t to review a list of potential seller costs, also known as the Net Sheet.
Mortgage Payoffs.......................................... 1st and/or 2nd
Interest To Closing......................................... Paid in arrears
Brokerage Fee.............................................. Based off of a percentage of the sales price
Transaction Fee............................................. Based on actual costs
Title Insurance............................................... Sliding scale based on sales price:
ILC (Improvement Location Certificate)........... $250 - $500
(if added as per the contract)
Water Escrow................................................ $250 - $1,000 with balance refunded to seller
Real Estate Taxes (Prorated)...................Current taxes not paid, prorated to sale date and any due paid in arrears
Utilities & Assessment (Prorated)..............For expenses incurred but not paid up to date of closing
Recording Fees............................................$50 - $100
HOA Fees....................................................Per the contract and as assessed by the HOA (if applicable)
HOA Document Retrieval............................... $100 - $175
Release Tracking Fee..................................... $25 per payoff
Title Closing Fee............................. $300 - $350
Several items will be addressed once your home is under contract. Your title company will assemble and send title and covenant information to all parties. They will also compile loan payoff information and other required information for closing.
Most major items needing repair surface during an inspection. We will be there to help you through the inspection process! The inspection should be completed as soon as possible for everyone’s peace of mind. The buyer and their real estate agent will schedule this with us. It is not necessary for you to attend the inspection.
After the inspection the buyer may make a written request for you to make repairs. We will review these requests with you, noting the difference it will make to your bottom line. We will then draft a written reply to the buyer.
Financing is limited to an amount based on appraised value. Most buyers are unwilling to pay more than appraised value, with the difference being paid in cash. The appraiser will set up an appointment to view your home. Trust us to be fully prepared to support your opinion of value with comparables and other helpful information. We pride ourselves on the amount of effort we always place in determining value. It’s often reflected most clearly during this process.
The contract allows for the buyer to be refunded their earnest money if not approved. As the buyer’s loan is processed, communication between the realtor teams and the lender is crucial. Once the buyer’s loan is approved we can prepare for closing.
Based on the agreement reached on the inspection resolution, inspection items must be completed by a specified date, prior to closing. The contract allows the buyer to perform a final walk-through to ensure all items are completed.
The title company prepares the closing documents and works with the buyer’s lender to generate final figures. The buyer will wire funds or bring a Cashier’s Check to closing. You will receive your proceeds by wire or title company check.
Soon after this, upon a date agreed upon in the contract, you will deliver possession of your home to its new owners. Dates and times agreed upon in the contract should be adhered to! Several households depend on your timely transfer in this real-life game of musical houses, including your own!
Now let’s get moving on to your next dream home!