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Main Elements of
the Home Selling Experience
The information below is a brief
overview of the major steps in the home selling
process. Please do not hesitate to email or call with
any questions that you may have about selling your
home.
Pricing
Every home needs a listing price, and determining that
asking price is critical to your success. Obviously
no one wants to list their home too low, but an astute
seller also wants to avoid over-pricing and loosing
potential buyers.
A Realtor should show you comparables and their
selling prices and have a strategic discussion with
you so that you are comfortable with a list price. At
this point you will also want to determine exactly how
much you will profit after closing costs and paying
out your mortgage in order to verify that this is a
number you will be truly happy with.
Beware of anyone who claims to be able to get you
significantly more than your house is worth. Remember
that home buyers also have Realtors representing them
and will have access to the same information on
comparable homes, so you likely want to avoid anyone
with gimmicks and exaggerated promises and instead
pick a Realtor who will work hard for you in order to
actually sell your home and get the best possible
price.
Preparing Your Home For Sale
Every home can use a little sprucing up before it is
presented to buyers. Just how much sprucing up
depends on a lot of variables. How much are you
willing and able to do? Will projects be worth the
financial and time investment required?
Good examples don’t
have to cost a fortune and include an afternoon in the
front yard to help
create a top notch first impression. Perhaps a quick
coat of paint on the front door and garage door will
move the house from looking dull to sharp. This is
also a good time to cut down on clutter, your home
will feel open and storage spaces will seem larger. A
good Realtor will be very helpful in discussing
whether you choose to take on any projects.
You can also choose to sell the property without doing
anything, and this is ultimately your decision
Finding Your Buyer
Now that the property is properly priced and prepared
for sale let the showings start. This is a time to be
very organized as you might not always have time to
clean before a showing. Although 24 hours notice for
showings is ideal, you would prefer not to turn away
anybody interested in your home.
There is lots of information out there about things
you can do to help a buyer fall in love with your
home. People advocate anything from baking bread
while there is a showing to having the dinning room
set and looking like a meal is ready to be served.
Whatever extra activities you choose to do, the
critical ones are being out of the home before the
showing starts and having the lights on.
It is hard to specify how long it will take to sell
your home. Generally larger, more expensive homes
have a longer sales cycle. This is the time when a
good Realtor is taking extra action to sell your home,
not just waiting for a buyer to come from the MLS.
Open houses, newspapers, internet advertising and
direct mail can all be very helpful in creating
excitement.
The Offer
Congratulations, we have found your buyer. Most
offers will be conditional and the most common
conditions are home inspection, financing and if
required a clause about looking into the status of a
condominium. Of course there can be other conditions,
but these are the most common. Most conditions range
from a few days to two weeks.
Closing
Once an agreement has been accepted and the conditions
have been fulfilled, the real estate transaction is
considered firm. Congratulations, you have sold your
home pending some legal work.
The Closing phase is really where there is a flow of
paper so that all parties involved have everything
that they need to finish the deal. Financial
Institutions, lawyers, realtors etc all need various
documents in order to proceed. This is another great
time for a strong Realtor to shine by providing you
with support and taking care of many of the details
for you.
This is also the time for you to organize phone and
utilities, booking movers etc.
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