| Getting the Highest Price for Your Home:
• Curb appeal is key and could make a difference whether people stop and take a flyer, or drive right by. Here are a few tips to increase the curb appeal of your home.
• Staging your home is important. Many buyers will stay in your home longer if it is staged appropriately. I have compiled some ideas to present your home in the most effective manner.
Closing Costs to Expect:
• Title insurance fees depend on the sales price of the home.
• Broker's commission is a full-service fee and will cost anywhere between 6% to 7%.
• Local property transfer tax, country transfer tax, state transfer tax, and state capital gains tax are the charges that you'll pay for the privilege of selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on when you close and when your taxes are due.
• FHA fees and costs are all fees are now negotiable between an FHA buyer and seller.
• Home inspections fees are in some circumstances paid for by the seller and include pest, radon and other inspections.
• Miscellaneous fees can accrue from correcting problems noticed during the home inspection. Find out how much your closing costs could be.
Step 1: Plan/Prepare
Some 5 million existing homes are sold each year, and while each transaction is different every owner wants the same thing - the best possible deal with the least amount of hassle and aggravation.
Unfortunately, home selling has become a more complex business than it used to be. New seller disclosure statements, longer and more mysterious form agreements, and a range of environmental concerns have all emerged in the past decade.
More importantly, the home-selling process has changed. Buyer brokerage - where REALTORS® represent homebuyers - is now common nationwide, and good buyer-brokers want the best for their clients.
The result is that while almost 100,000 existing homes are sold each week, the process is not as easy for sellers as it was five or 10 years ago. Surviving in today's real estate world requires experience and training in such fields as real estate marketing, financing, negotiation and closing - the very expertise available from local REALTORS®.
Step 2: Get a REALTOR®
Before placing a home on the market you should also identify REALTORS® in your community who can assist with the sale. Because Realtor.com is the largest real estate site online, it's a perfect place to look when seeking realty services. Realtor.com lists realty professionals nationwide, and you can find those active in your community through extensive directories and property listings.
Step 3: Set the Price
Every reasonable owner wants the best possible price and terms for his or her home. Several factors, including market conditions and interest rates, will determine how much you can get for your home. The idea is to get the maximum price and the best terms during the window of time when your home is being marketed. In other words, home selling is part science, part marketing, part negotiation and part art. Unlike math where 2 + 2 always equals 4, in real estate there is no certain conclusion. All transactions are different, and because of this, you should do as much as possible to prepare your home for sale and engage the REALTOR® you feel is best able to sell your home.
Step 4: Market It!
If you bought a car, you could purchase a given model with selected features from any dealer. Since the car comes from one assembly plant, it's going to be the same whether purchased from dealer Smith or dealer Jones.
Homes are different. Each is unique, the marketplace is always in flux, interest rates constantly change and new buyers search for homes each day. With such fluidity, it requires REALTORS® to craft marketing plans specifically for individual homes and market conditions.
Selling can entail a variety of marketing strategies. Once listed, it's likely that the home will be quickly entered into the local MLS (Multiple Listing Service) and placed on REALTOR.com®. REALTORS® routinely market by mail with new-listing announcements and regular newsletters. Open houses, broker access to the home via the use of a lock box and networking with both local and out-of-town brokers are also common.
Much of a broker's work will be quiet and unseen yet important. The quiet telephone calls, the work with contacts, the follow-ups with open-house visitors, conversations with ad respondents, the web postings and other outreach efforts are all part of the process required to sell homes.
Experienced REALTORS® base their marketing efforts on previous transactions and ongoing research. For instance, according to the National Association of Realtors (NAR), 80 percent of all buyers check the Internet before even calling an agent. NAR numbers also show that most households move within 10 miles of their current location while 20 percent move at least 50 miles.
Step 5: Sell It
There is no question that selling a home is an important event. A home sale represents transition, movement and change. Big money is involved. Households move from the known and comfortable to the unknown and a period of adjustment. There may be job changes, new schools, distance from old friends and the possibility of new ones.
No less important, a home sale by itself can be complex. There will be people looking at your house, documents to sign and issues to be negotiated.
Because a home sale involves an array of both personal and business concerns, it's important to get it done right. You need to carefully prepare your home, understand the market and see what alternatives are realistically available. The old motto "be prepared" is a good guide in such circumstances.
Step 6: Close
It might seem as though once a sale agreement has been signed that the selling process is complete. Not only is it not over yet, but some of the most complex aspects of a real estate transaction now begin.
A sale agreement sets not only a purchase price for the home, but also a series of terms and conditions. For instance:
Contracts routinely depend on the ability of a buyer to obtain financing, which is why most sellers prefer buyers with preapproval letters from lenders. A growing percentage of transactions involve a home inspection, or a physical review of the home by a trained and independent observer. Lenders will establish numerous conditions before granting a loan. They will want a title exam, title insurance to protect against title errors, termite inspections, surveys and an appraisal to assure that the home has sufficient value to secure the loan.
The REALTOR® typically arranges required inspections and helps the owner prepare for closing.
Step 7: Moving
Even the smallest home contains a lot of furniture, clothes, kitchen equipment, pictures and other items. For a short move, it may be worthwhile to transport small goods by yourself, but larger items will likely require a professional mover.
The moving center on Homestore.com provides calculators as well as information on moving options, storage, truck rentals and related topics. This information, plus assistance and advice from your REALTOR®, can ease the moving process.
It's ideally best to get rid of excess furniture and other goods by having a sale before you move. This will reduce the volume of goods to be moved and thus lower moving costs. Unwanted furniture which cannot be sold can often be donated to charitable groups, many of which will come to your home to pick up donations. All other unwanted items should be taken to a landfill. You should provide the U.S. Postal Service with a forwarding address, and utility companies should be advised when to end service. Check with utility companies to see if there is deposit money which should be returned.
Helpful Tips On Preparing Your House for Sale Clean up the outside.
Curb appeal is the first impression of your house:
• Keeping the grass cut and the area tidy will help make a great first impression.
• Paint or wash the exterior of the house (including window casings, shutters, and doors).
• Wash the windows inside and out.
• Check the gutters and chimney.
Touch Up the Interior:
• Put a fresh coat of paint in the most used areas of the home. This will clean as well as brighten up the rooms.
• Wash the walls where paint is not appropriate (i.e. wall paper, paneling). Wash all floors and bathroom tiles.
• Shampoo dirty carpets.
• Get rid of clutter. Clean out your closets, garage, basement and attic. Use self storage if necessary.
• Replacing air filters will help keep the dust down.
Replace Bathroom and Kitchen Fixtures that are Worn or Leaking:
• People will notice a leaking or worn-out faucet. By replacing these items, you will give a new look to the room.
• Clean under the sinks. If there is any leaks fix them. Then clean up the damage using contact paper or paint.
Get Rid of any Bad Smells in your Home:
• Pay attention to pet or cigarette odors.
• Place scented potpourri around the house.
• On the day you're expecting a potential buyer, pop a batch of frozen cinnamon rolls or home-made bread into the oven for a great aroma.
Use a Title Company to Handle the Closing:
• A title company can handle the title search and paper work for a very small fee. It is well worth the cost.
Finding the Right Agent for You
Finding the right real estate agent can be the difference between a smooth and stress-free home buying or selling experience, and a stress-filled roller coaster experience.
First, you deserve an agent ready and able to make a full-time commitment to you. I can and will do that.
Second, you should expect an agent with the experience needed to know the local neighborhoods, schools, market conditions, ordinances, and who understands the importance of a very effective Web presence that is up to date with todays ever-changing Online technology . With my years of experience in the local market and interactive media - I have the expertise and track record of success to best assist you.
Third, you'll want an agent who embraces the convenience of technology but still prioritizes personal interaction with clients above all. You'll love the resources available on my effective website and the e-mail updates that I send, but these will never replace the time we spend together as I help guide you through this exciting process. |
