Sell My House
There are many reasons why someone will put their home on the market; job relocation, moving up to a bigger home, starting a family but whatever the reasons, you need to find a real estate agent to help you oversee the process.
Why is it more important today more than ever to have a Realtor®; primarily due to the ever changing requirements with disclosures, New Consumer Laws that come into effect every year and the advancement of new marketing technology and that is just the beginning of basic knowledge that a Realtor® needs to know.
A great real estate agent will work with you to understand what is the appropriate expectations based on the market conditions & condition of the property to decide what you can do to get a higher selling price, and will work to find the right buyer based on the timeline you are seeking.
As a seller you want to pick a real estate agent that can relate to you, listens, cares and understand your needs.
Knowledgeable about the community, neighborhoods which includes builders and what governs the area is key to having your home sold. With a local realtor there will be the best understanding of the situation to serve you.
Experience
Your home will be the biggest financial investment you currently have, and you can’t afford to make any mistakes in the sale. You need to rely on experience Realtor® who has sold a respectable amount of houses during the year. For most agents, the average is dozen or so properties a year is common. The Realtor® should be full time and is dedicated to the everyday of real estate business, education & community involvement to be an effective agent.
Reputation
Researching your potential real estate agent is worthwhile, as you will learn more things you might not agree with. It’s best to do the research in advance before signing any agreements then to be in the middle of a transaction. Call the local real estate association, look online to the department of real estate and search by name to make sure the Realtor® is doing a great job over the years.
Communication
What is the best way to keep in touch should be known from the very beginning as there is email, texting & phones. Learn from the Realtor® what works as it is so important to be informed throughout the process of selling a home. Never second guess as contracts, deadlines & documents are urgent.
Top Ten – Legal Mistakes Home Sellers Make
- Accepting the buyer with the highest offer without regard to the other contractual terms.
- Not properly handling multiple offer situations with multiple buyers.
- Not properly handling backup offers.
- Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
- Entering into an agreement before verifying the buyer’s financial ability to close escrow.
- Not providing the buyer with legal required disclosures.
- Not disclosing known material fact affecting the value or desirability of the property.
- Not obtaining the buyer’s written acknowledgement of disclosures.
- Not considering whether to require the buyer to remove contingencies.
- Not excluding items from the sale that the seller wants to keep.
Conditions
- Emotional
- Over Improved
- No upgrades
- Distressed
- Relocation
- Passing Away
- Divorce
- Military
- Job displacement
- Difficulty with finding properties that don’t have the same square footage.
- Adjusting for square footage by using a formula based as follows: Subject property: 2,000 square Stay within 10% of net square footage and no more than 25%. Example: 1,800 to 2,200 square foot
- Cost per Square Foot
- Price per square foot does not mean you can multiply your square footage and get the results for the property unless they are the same.
- The price per square foot rises as the size decreases and it decreases as the size increases.
- Larger homes have a smaller cost and smaller homes have a larger cost per square foot.
- Cost per square foot is related to construction costs, land values, area and several other factors related as economic principals of “Progressive and Regression”.
- Comparing properties to determine value – 3 active & 3 sold.
- Adjusting for the difference +/- value adjustments has limits.
- Determining price based on market conditions.
- Seller’s market adjust 10% based on the last comparable sale.
- Buyer’s market adjust based on the last comparable sale at current value accepting that less could be offered.
- Neutral market based on the current market trend adjust 1% per month if the last sale closed within the last three months.
- Neutral market is when there is 5 months of standing inventory.
- As report by NAR that REALTORS® who typically represent the buyer, surveyed that 49 percent report most buyers are effected by home staging as they see themselves living in the property that they are viewing and another 47 percent reported buyers where somewhat effected by home staging.
- Among sellers’ agents 34 percent stage all homes, 13 percent stage difficult homes to sell, and four percent stage only high price bracket. Homes that are vacant can be challenging to convey the properties potential. As staging brings out the best in the property.
- Thirty-two percent of buyers’ agents believe staged homes increases the dollar value buyers are willing to offer by one percent to five percent.
Which room should be staged?
- Living Room
- Kitchen
- Master Bedrooms
- Bath Rooms
Why does staging work?
- Staging the home can create a focal point, compliments the feature of the home and allow for better traffic flow.
- 10% of buyers can visualize the potential without staging.
- Home buyers search online for homes and want a digital presence
Another point of view
- It does take time to stage.
- Creates problems when you are still living in the home
- Over staging the property that prevent buyers imaginations..
Does your home measure up?
- Making a home clean, bright and clutter free is taking the extra step from a buyer being distracted and indicating that you don’t have enough space as it appears very dysfunctional. You want to transform the home so that the buyer sees values and that it will generate a greater opportunity for the seller to get the right price.
One Month Before Moving Check
- Start getting estimates on moving: Moving Company, Rental Truck
- Pick up your health records: Medical, Dental, Optometrist, School Records
- School Records
- Financial / Legal Records
- Veterinarian Records
- Keep the move simple: Good time to consider what is worth keeping
- Plan a Garage Sale
- Begin to try to use perishable foods: Not worth packing
- Obtain packing supplies: Boxes, Packing Tape, Paper, Markers
- Start packing & labeling items you know you won’t need
- Obtain a Change of Address kit from the Post Office
- Give your new address to: Banks, Credit Card Co., Insurance, Employer
Three Weeks Before Moving Check List
- Contact your children’s new school & make any necessary arrangements
- Open (transfer) a bank account in your new town
- Make arrangements for connections of utilities at your new home
- Have your vehicles serviced, as necessary
- Make arrangements for auto registration & insurance, as necessary
- Make arrangements with a Moving Company, as necessary
Two Weeks Before Moving Check List
- Make arrangements to close (or transfer) your old bank account
- Dispose of poisons, flammables & corrosives
- Make arrangements for disconnection of utilities at your old home
- Contact newspaper in old town to cancel subscription
- Arrange for childcare on Moving Day, as necessary
- Library Books returned or other items that need to be return
One Weeks Before Moving Check List
- Clear out Safety Deposit Box
- DPick up Traveler’s Checks, as necessary
- Begin to plan meals around cleaning out the refrigerator & pantry
- Use or drain fuel/oil from lawn mowers, trimmers, etc
- Ensure you have adequate supplies of Prescription Medications
- Library Books returned or other items that need to be return
- Do your family & friends have your new address & phone number
- Notify Utility Company: Discount or Transfer
Day Before Moving Check List
- Defrost & clean out your refrigerator
- Clean other appliances as necessary
- Pack your old Phone Book for reference as necessary
- Touch base with everyone who is supposed to help on Moving Day
- Thoroughly clean house, Tidy the yard, garage, shed, Get rid of garbage
- Any building materials related to the property, could be appreciated by new owners
- Welcome to your new home: Personal note for the new owners
Moving Day
- Take down window coverings that are not attached to the wall
- Strip beds
- Pack / Load remaining items as necessary
- Make one last, through sweep of house & property for forgotten items
- Make sure doors & windows are locked
- Ensure Moving Company has correct address (cell phone number)
- Using a road map, go over the best route to your new home with others
- Collect & label all keys, extra house keys, garage, shed, mailbox
- Place keys, garage door opener + codes, security system info in a conspicuous space
- Leave behind any instruction books, warranties, any repair records
After Moving Day
- Check Fire Extinguishers, Smoke Alarms, Carbon Monoxide Detectors
- Ensure all windows & doors lock properly
- Obtain new Safety Deposit Box
- Contact all publications with subscriptions
- Register to vote
- Purchase a new address return stamp at any office supply store
Moving Resources
- www.uhaul.com – for trucks rentals but also great for getting boxes & other Packing supplies.
- www.pods.com – for packing & storage solutions. They deliver a pod & you pack It up & they get it to your next home or will store it for you.
- www.1800GotJunk.com – junk removal services
Getting ready to put your home on the market-think garage sale as it will be a great place to start with:
- Eliminate the clutter and make your home feel and look bigger to attract potential buyers.
- Be through with your house by sorting our items you can do without .Be realistic and ask “When did I use this last?” and then place all items in the center of the room for pricing
- Plan on doing the garbage sale for at least for two days over te weekend
- Hard to sale items do a 2 for 1 price or bundle price
- Saves time and effort of moving items that you can sell that are no longer used in many years.
- Have fun turning your unwanted items into cash as it will be useful to have the extra cash for any unexpected expenses or for purchases in the new home.
- If items don’t get sold then it is that much easier to donate.
To Do List
- Set the date & check the weather
- Advertise in advance with hours (no early birds) & address: Local paper & handouts, store bulletin boards, tell friends, family & neighbors – ask to assist you – no pictures.
- Polish, clean, repair & mend everything that will be for sale.
- Price items right.
- Stock up on bags, tape, rope.
- Money for making change – rolls of coins, etc. Keep track of the amount that you started with.
- Only accept checks from local banks.
- Are there any sentimental items .
- Are there items that have large monetary that are collectable such as: antiques, artwork, coins, stamps, music/records or sports items.
- Clean the garage & yard.
- Display items upfront & clearly visible. Don’t price clothing just wing it as it can be difficult to determine.
- Have a banner, balloons, streamers, wind chimes or even low music playing.