Seller Guide
| Your Needs The decision to sell your home is an important one and should only be made after carefully considering your wants and needs. Do you need more space or are you downsizing? Are you planning to move for reasons related to your job or are family matters more relevant? Get in touch with your reasons for selling. A clear understanding of these important factors will help you focus on your needs throughout the sales process. Timeframe When would you like to move? Remember, depending on market conditions it may take several months for your home to be marketed and sold. Formulate your timeframe and plan to place your home on the market with enough time to find a buyer, close the transaction and comfortably move to your next home. Location Where will you be moving? Determine the areas that may be suitable for your next home and research the real estate market in those areas. Are there homes in those areas that suit your needs with regard to size, number of rooms, price, neighborhood amenities and other features? Knowing where you are going can help you move on. Finances Consider the financial aspects of the sale. What is your equity? Take a realistic look at the value of your home in today's market. Develop a financial plan that makes sense with regard to the net proceeds from the sale of your current home and the acquisition of your next home. When the numbers look good you can move forward with confidence. Price When setting the price of a home for sale it is important to understand the real estate market of your neighborhood. The price at which similar, nearby homes have recently sold may give an indication as to the value of your home. Remember that your local real estate market can be quite different from that of an entire surrounding city, county or state. The research and analysis related to pricing a home can be extensive and here the assistance of a real estate professional can be invaluable. Preparing Your Home You will want your home to be attractive when it is shown to prospective buyers and their agents. The view of your home from the street, sometimes referred to as "curb appeal", typically presents a first impression for a visitor. Inside try your best to remove clutter so that your home's beauty can be appreciated. Light and bright living spaces seem to do well in the marketplace. Marketing Once it is on the market you will want to make sure that your home is presented to as many potential buyers as possible. This is where great marketing becomes so important. Today, homes are marketed in a wide variety of ways ranging from high tech promotions via the Internet and Multiple Listing Service to simple flyers and local activities like open house. Generally speaking the more potential buyers that can be reached the better the chances for a timely sale. Offers And Negotiation If the marketing of your home is effective, within a reasonable time you may begin to receive offers. You will want to carefully consider any offers to purchase your home that are made and endeavor to negotiate for optimum price and terms. Before accepting any offer be sure you are satisfied with its terms and conditions, and give appropriate consideration to the ability of the prospective buyer to complete the purchase. The benefits of working with a skilled real estate agent at this stage of negotiation cannot be overstated. Escrow Once you have accepted an offer the Escrow process and time period typically begins. It is during this time that details of the sale are handled through a process that may vary according to local customs. Often inspections and appraisals are arranged, repairs may be requested and performed, title insurance is arranged, financing is finalized, contingencies are removed, taxes are prorated and more. Proper management of essential formalities and paperwork is vital to ensure that the transaction goes smoothly and complies with local, state and federal laws. Closing When all the detail work of Escrow has been done the sale can then be completed. Typically, in a process influenced by local customs, the real estate transaction is recorded in government records, the seller is paid the net proceeds from the sale, the buyer becomes the new owner and the transaction is "closed". |
