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Eight steps to selling your home
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Define your needs. Write down all the reasons for
selling your home. Ask yourself, "Why do I want to sell and what do I
expect to accomplish with the sale?" For example, a growing family may
prompt your need for a larger home, or a job opportunity in another city
may necessitate a move. For your goals, write down if you'd like to sell
your house within a certain time frame or make a particular profit
margin. As your real estate professional, I would like to work with you to map out the best path to
achieve your objectives and set a realistic time frame for the sale.
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Name your price. Your next objective should be to
determine the best possible selling price for your house. I can help
you via a free
no-obligation consultation or a
FREE CMA market analysis
of the value of your home or property. Setting a fair
asking price from the outset will generate the most activity from other
real estate agents and buyers. You will need to take into account the
condition of your home, what comparable homes in your neighborhood are
selling for, and state of the overall market in your area. It's often
difficult to remain unbiased when putting a price on your home, so our expertise is invaluable at this step.
I know what comparable homes are selling for in your neighborhood and
the average time those homes are sitting on the market. If you want a
truly objective opinion about the price of your home, you could have an
appraisal done. This typically costs a few hundred dollars. Our
CMA market analysis is
free. Remember:
You're always better off setting a fair market value price than setting
your price too high. Studies show that homes priced higher than 3
percent of their market value take longer to sell. If your home sits on
the market for too long, potential buyers may think there is something
wrong with the property. Often, when this happens, the seller has to
drop the price below market value to compete with newer, reasonably
priced listings.
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Prepare your home. Most of us don't keep our homes in
"showroom" condition. We tend to overlook piles of boxes in the garage,
broken porch lights, and doors or windows that stick. It's time to break
out of that owner's mindset and get your house in tip-top shape. The
condition of your home will affect how quickly it sells and the price
the buyer is willing to offer. First impressions are the most important.
As your real estate agent, I can help you take a fresh look at your home and
suggest ways to stage it and make it more appealing to buyers.
* A home
with too much "personality" is harder to sell. Removing family photos,
mementos and personalized décor will help buyers visualize the home as
theirs.
* Make minor repairs and replacements. Small defects, such as a
leaky faucet, a torn screen or a worn doormat, can ruin the buyer's
first impression.
* Clutter is a big no-no when showing your home to
potential buyers. Make sure you have removed all knick-knacks from your
shelves and cleared all your bathroom and kitchen counters to make every
area seem as spacious as possible.
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Get the word out. Now that you're ready to sell,
as your
real estate agent I will set up a marketing strategy specifically for your
home. There are many ways to get the word out, including: * The Internet
* Yard signs * Open houses * Media advertising * Agent-to-agent
referrals * Direct mail marketing campaigns. In addition to listing your
home on the MLS, I will use a combination of these tactics and structure
the marketing plan to bring the most qualified buyers to your home.
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Receive an offer. When you receive a written offer
from a potential buyer, I will first find out
whether or not the individual is prequalified or preapproved to buy your
home. If so, then you and I will review the proposed contract,
taking care to understand what is required of both parties to execute
the transaction. The contract, though not limited to this list, should
include the following:
* Legal description of the property
* Offer price
* Down payment
* Financing arrangements
* List of fees and who will pay
them
* Deposit amount
* Inspection rights and possible repair allowances
* Method of conveying the title and who will handle the closing
*
Appliances and furnishings that will stay with the home
* Settlement
date
* Contingencies.
At this point, you have three options: accept the
contract as is, accept it with changes (a counteroffer), or reject it.
Remember: Once both parties have signed a written offer, the document
becomes legally binding. If you have any questions or concerns, don't
hesitate to address them with me right away.
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Negotiate to sell. Most offers to purchase your home
will require some negotiating to come to a win-win agreement. I am well versed on the intricacies of the contracts used in
your area and will protect your best interest throughout the bargaining.
I know what each contract clause means, what you will net
from the sale and what areas are easiest to negotiate. Some negotiable
items: * Price * Financing * Closing costs * Repairs * Appliances and
fixtures * Landscaping * Painting * Move-in date. Once both parties have
agreed on the terms of the sale, I will prepare a contract.
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Prepare to close. Once you accept an offer to sell
your house, you will need to make a list of all the things you and your
buyer must do before closing. The property may need to be formally
appraised, surveyed, inspected or repaired. I can
spearhead the effort and serve as your advocate when dealing with the
buyer's agent and service providers. Depending on the written contract,
you may pay for all, some or none of these items. If each procedure
returns acceptable results as defined by the contract, then the sale may
continue. If there are problems with the home, the terms set forth in
the contract will dictate your next step. You or the buyer may decide to
walk away, open a new round of negotiations or proceed to closing.
Important reminder: A few days before the closing, you and I will want to
contact the entity that is closing the transaction and make sure the
necessary documents will be ready to sign on the appropriate date. Also,
begin to make arrangements for your upcoming move if you have not done
so.
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Close the deal. "Closing" refers to the meeting where
ownership of the property is legally transferred to the buyer. I will be present during the closing to guide you through the
process and make sure everything goes as planned. By being present
during the closing, we can mediate any last-minute issues that
may arise. After the closing, you should make a "to do" list for
turning the property over to the new owners. Here is a checklist to get
you started.
* Cancel electricity, gas, lawn care, cable and other
routine services.
* If the new owner is retaining any of the services,
change the name on the account.
* Gather owner's manuals and warranties
for all conveying appliances.
As your real estate professional, I will guide you
each step of the way.
I can see you through the entire process - from contract signing
through final closing ... and beyond.
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