Selling A Home
Looking to sell your home?
Selling a property on your own sound like too much work? you might want to consider speak with a professional, most agents include yard signs, a marketing strategy and flyers, as well as getting your home on the MLS market. Nine out of ten times, most do not have the time or the resources that a real estate agent may have, so it is best to use someone that is fully committed to selling your property, has access to a wide variety of resources and is focused on getting the highest price possible for the sale of your property.
Whether you use a real estate agent or not, you still need to do your homework, and be prepared!
know your property.
Research your market and property laws.
Set the price.
Perform a “walk-through” of your property.
- Does it need a new coat of paint (either because the old paint is obviously cracked or faded, or because of an uncommon choice in color that might turn off prospective buyers)?
- If your property has a yard, is the lawn and landscaping attractive and well-kept?
- If you have a condo, you can’t do much about the building, but is the front door (and balcony, if there is one) appealing?
- Are the windows and doors attractive and in good condition?
- Are the roof (and the gutters) in good condition?
- Is the grass nicely cut, are the hedges trimmed, are the leaves swept up? Are all toys put away such as bikes, scooters, etc.?
- Are the interior paints and finishes in good condition (recently updated), or do they need to be freshened up? This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well-kept and inviting.
- Are the appliances in good working order and of recent vintage?
- Are the plumbing and electrical systems in good condition? Are they fully functional?
- Are the carpets or other floor coverings clean and in good condition? Like the paint, are they attractive and well-kept? Floor coverings are worth paying for so that your home makes a good impression.
- Are the sealants (sink, shower, tub, windows) in good condition?
- Are all light fixtures working properly, and is there good lighting in each room so that prospective buyers won’t think you’re hiding something?
Know your neighborhood.
Establish a marketing budget.
- Real estate commission if you use an agency to sell.
- Advertising costs, signs, other fees if you plan to sell by owner.
- Attorney, closing agent and other professional fees.
- Excise tax for the sale.
- Prorated costs for your share of annual expenses, such as property taxes, home owner association fees, and fuel tank rentals.
- Any other fees typically paid by the seller in your area (surveys, inspections, etc.).
- Real estate agents deal with transactions every day and can give you a very close estimate of seller closing costs.
Check your newspaper and magazines for real estate.
Don’t forget the Internet.
In addition, some newspapers automatically (or for an extra fee) offer Internet advertising tied in to their traditional print ads. Learn the rates and deadlines for each publication, then decide which one (or more) is best for you and your market.
Establish a marketing plan.
Write the text and/or design your ad.
Purchase and install a “for sale” sign.
Prepare a fact sheet.
Purchase “open house” signs.
Set up a schedule of open houses.
Keep a list of prospective buyers.
Once you have an offer, it’s time to negotiate.
Get your forms in order.
Negotiate final terms of the sale.
- Inspection contingencies
- Financing terms
- Date of closing
- Date of possession
- It would be prudent for you to have an attorney review any and all contracts before the deal is finalized
Coordinating moving out.
Unless you have already built or bought a new residence, you’ll need to be the “buyer” for a new property while simultaneously being the “seller” for your current one. If possible, schedule both transactions to close at the same time, or else close your purchase shortly before closing your sale. You need to be moved out before the new owners take possession.