| If the thought
of selling
your home seems daunting, don't worry. The
process itself may take time, but rest assured that
we have mapped out fast route
that both avoids suprises and focuses on obtaining
the highest possible price for your home.
Below are a list of selling tips
that have a proven track record in reducing the
time it takes to receive an offer while maximizing
the value of your home.
Preparing:
Select an agent that knows
your area.
The benefits to you when selecting a neighborhood specialist are immediate.
Agents that stay in tune with a particular area (and preferably live there!)
will already understand the area's strengths and weaknesses and how to market
around them.
Get your home in shape.
Perform a preliminary walkthrough of your home, taking away any potential eyesores,
performing repairs where needed, and proactively addressing any items that
would subsequently appear in a home inspection report.
Stage your home.
There may be no faster way of increasing the value of your home than by relying
on an Accredited Staging Professional (ASP), like Kim Horn, to stage your
home. By moving (or removing!) furnishings, buyers will be able to envision
their
living
in the home more easily.
Plan your listing's "go live"
date.
Strategize the timing of your listing's start date. Do you have any trips planned?
Do you need to consider school schedules? What about the weather? Typically
the spring and summer months are the best time to list a home, but inventory
is typically lower during the fall and winter months, supporting the seller's
position during negotiations.
Listing:
Find your home price "sweet
spot".
Identifying your initial offer price is an art, not a science. It helps to
engage your agent, evaluating what other properties are on the market, what
homes have sold for recently in your area, and what specifically about your
home may increase or decrease it's value. The bottom line is that you want
to list your home at a competitive price so as to gain buyer's attention right
away. You only get one chance at being a new listing!
Select your marketing options.
Discuss with your agent what marketing approaches you favor. The MLS is really
just the beginning. Would you support open houses? Alternative internet advertising?
Buyer incentives? Talking houses? There are many ways to reach potential buyers,
simply pick the right combination for you.
Be available.
The home selling process will require your attention, often for several weeks
or months. Be prepared to accomodate buyer showings and maintain a high level
of communication with your agent should an offer be received.
Offer reception.
Although every real estate transaction's slightly different, the negotiation
process is often more simple than people expect, especially if the home seller's
never
been
through
the
process. Agents are required to present ALL offers received to their customers.
Have him/her walk you through each form, explaining their importance and
how it may affect your position in the market, timing of sale, risks of fallout,
etc.
Get everything in writing.
Be specific when negotiating an offer as to what you'd like excluded from the
sale. Items such as a refridgerator, washer and dryer, and hot tub may be negotiated
into or out of the contract. If you're interested in it, be sure to capture
it in writing.
Escrow: Mutual acceptance.
The escrow process begins when there is mutual acceptance on price and terms.
It's important to point out that strict timing requirements are now in effect,
such as those surrounding inspection and financing contingencies. Home sellers
need to be aware and responsive to these deadlines.
Contingencies.
For the their own protection, it's common for buyers to include inspection
and financing contingencies within an offer. Either of these may increase
the
risk of an
offer falling out of escrow. Home sellers can prevent this in various ways,
including the requirement of a higher deposit amount, acceptance of offers
only when a preapproval letter is supplied, performing home inspections of
their own prior to listings, etc. Discuss these strategies with your agent.
Respond to inspection findings.
If the seller agrees to perform a repair, replace an item, etc. in response
to the home inspection, ensure the work is performed in a timely manner and
that successful completion is communicated right away to your agent.
Closing:
Plan your move.
As the close date approaches, be sure to schedule an appropriate amount
of time to move your belongings, cancel utilities, perform final cleaning,
etc. so as to avoid any last minute stress.
Paperwork signing.
Escrow signings may easily be coordinated with the escrow company to accomodate
your schedule, including out of state signings with partner offices and early
signings so as to avoid any risks of schedule conflicts on the close date.
You're done!
After months of hard work, you can finally sit back, relax and celebrate the
sale of your home. Congratulations!
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