If buying a home seems a daunting task – with some very big decisions to make – selling your home can present its own set of challenges. That's why you have to think carefully about your reasons for selling and work your way through the process with the help of a licensed Realtor®. Which means taking things one step at a time.
Defining your needs
Why do you want to sell? Moving to a new job in another city? Is your family growing and do you need a bigger house? What reasonable profit margin do you expect? And in what time frame do you want to sell? These are some of the questions to discuss with your Realtor®, who can work with you to achieve your goals.
Naming your price
Most people believe their home is worth much more than market value. That may be true for some homes, but owners must understand that a fair asking price will generate the most interest from buyers and other agents. Which is why your Realtor can help, by knowing what comparable homes in your neighborhood are selling for, and how long they've been on the market. So you must price realistically because if your house sits on the market too long, potential buyers will wonder what may be wrong with your house and property. And you might have to drop your prices below market value to compete.
Preparing your home
First impressions are important. Which is why you need to get your home in very good shape before agents and buyers start coming around. Most homes have clutter, from piles of boxes in the garage, to shelves loaded with knick-knacks, to countertops filled with all sorts of everyday items. All of those things should be cleared away. Leaky faucets, torn screens and broken street lights all have to be fixed. Your Realtor can help you "stage" your home for more appeal to buyers. And check your landscaping. Those first impressions include "curb appeal."
Getting the word out
Here's where your Realtor will create a marketing strategy for your home, by first listing your home on the multiple Listing Service – the MLS – so other agents and potential buyers can see it. In addition, direct mail, the Internet, open houses, yard signs and agent-to-agent referrals may be used. The combination should be structured to produce the most activity in the first three to six weeks your home is on the market.
Receiving an offer
A serious buyer will present you with a written offer. Your Realtor will first check to see if the person is "pre-approved" financially to buy your home. If so, you and your Realtor will review the proposed contract, so you understand what is required of both parties to complete the transaction.
In the contract: a legal description of the property, financing arrangements, offer price, deposit amount, fees and who pays them, inspection rights, possible repair allowances, a settlement date and many other items. You can accept the contract as is, make a counteroffer, or reject it. Be careful to check everything. Once both parties sign, that contract is a legal document.
Negotiating to sell
Remember that written offer is a "proposed" contract, not final. With help from your Realtor you will be able to negotiate a final agreement, including price, financing, closing costs, repairs, appliances and fixtures, landscaping, painting, and a move-in date. Once all these items are worked out to the agreement of both parties, your Realtor will prepare a final contract.
Preparing to close
You may have a contract, but there may be many things to do before closing. Your property may need a formal appraisal, a survey, inspection or repairs. Your Realtor will keep things moving, especially with the date looming for the buyer to move in. If each procedure gets acceptable contractual results the sale proceeds. If there are problems, contract terms may allow you or the buyer to walk away, reopen negotiations, or proceed to closing.
Closing the deal
The day finally has come – the meeting where the property is legally transferred. But remember that a few days before closing, you should check with the person conducting the procedure to make sure all necessary documents are ready to sign. At the closing your Realtor will be there to guide you through the process and handle any last-minute issues that may arise. You may even wish to have an attorney present. After closing be sure to check such things as cancelling electricity, gas, lawn care, phone, cable and other services, or to changing the name on the account to the buyer.
It may have been a long haul, but it's done and you deserve congratulations. But remember, through this entire process you will have a licensed professional Realtor at your side. It's my hope that agent's name will be: Paula Coburn of Brock Realty.
Contact Paula
Defining your needs
Why do you want to sell? Moving to a new job in another city? Is your family growing and do you need a bigger house? What reasonable profit margin do you expect? And in what time frame do you want to sell? These are some of the questions to discuss with your Realtor®, who can work with you to achieve your goals.
Naming your price
Most people believe their home is worth much more than market value. That may be true for some homes, but owners must understand that a fair asking price will generate the most interest from buyers and other agents. Which is why your Realtor can help, by knowing what comparable homes in your neighborhood are selling for, and how long they've been on the market. So you must price realistically because if your house sits on the market too long, potential buyers will wonder what may be wrong with your house and property. And you might have to drop your prices below market value to compete.
Preparing your home
First impressions are important. Which is why you need to get your home in very good shape before agents and buyers start coming around. Most homes have clutter, from piles of boxes in the garage, to shelves loaded with knick-knacks, to countertops filled with all sorts of everyday items. All of those things should be cleared away. Leaky faucets, torn screens and broken street lights all have to be fixed. Your Realtor can help you "stage" your home for more appeal to buyers. And check your landscaping. Those first impressions include "curb appeal."
Getting the word out
Here's where your Realtor will create a marketing strategy for your home, by first listing your home on the multiple Listing Service – the MLS – so other agents and potential buyers can see it. In addition, direct mail, the Internet, open houses, yard signs and agent-to-agent referrals may be used. The combination should be structured to produce the most activity in the first three to six weeks your home is on the market.
Receiving an offer
A serious buyer will present you with a written offer. Your Realtor will first check to see if the person is "pre-approved" financially to buy your home. If so, you and your Realtor will review the proposed contract, so you understand what is required of both parties to complete the transaction.
In the contract: a legal description of the property, financing arrangements, offer price, deposit amount, fees and who pays them, inspection rights, possible repair allowances, a settlement date and many other items. You can accept the contract as is, make a counteroffer, or reject it. Be careful to check everything. Once both parties sign, that contract is a legal document.
Negotiating to sell
Remember that written offer is a "proposed" contract, not final. With help from your Realtor you will be able to negotiate a final agreement, including price, financing, closing costs, repairs, appliances and fixtures, landscaping, painting, and a move-in date. Once all these items are worked out to the agreement of both parties, your Realtor will prepare a final contract.
Preparing to close
You may have a contract, but there may be many things to do before closing. Your property may need a formal appraisal, a survey, inspection or repairs. Your Realtor will keep things moving, especially with the date looming for the buyer to move in. If each procedure gets acceptable contractual results the sale proceeds. If there are problems, contract terms may allow you or the buyer to walk away, reopen negotiations, or proceed to closing.
Closing the deal
The day finally has come – the meeting where the property is legally transferred. But remember that a few days before closing, you should check with the person conducting the procedure to make sure all necessary documents are ready to sign. At the closing your Realtor will be there to guide you through the process and handle any last-minute issues that may arise. You may even wish to have an attorney present. After closing be sure to check such things as cancelling electricity, gas, lawn care, phone, cable and other services, or to changing the name on the account to the buyer.
It may have been a long haul, but it's done and you deserve congratulations. But remember, through this entire process you will have a licensed professional Realtor at your side. It's my hope that agent's name will be: Paula Coburn of Brock Realty.
Contact Paula