Home Selling FAQ
First,- get the property ready and presentable. Fix all minor mechanical issues (such as loose doorknobs and leaky plumbing), clean everything well, keep the yard maintained, and put fresh pine straw or mulch in the flower beds. Power wash decks and other surfaces if needed.
Check with a lender first to learn if this is an option. Ask yourself if you are willing and able to carry two mortgages and deal with the stress that comes from physically and financially maintaining two homes.
Odds are it will take longer. If you have the time, the money to market, and want to manage the sale, you may want to consider this option.
An experienced agent can lead you through the listing and selling process with ease. Aside from improving your quality of life during your family’s transition, a real estate agent may help you net more money for your home. Often, owners who sell their own home are asked by potential buyers to discount the commission rate that would be given to an agent. In that case, you have all the work, all the complications and none of the financial rewards.
You should only consider vacating your home before placing it on the market if your furnishings are poorly maintained or the environment is overly cluttered. A vacant home usually communicates a need to sell and weakens your negotiating position.
Open houses may make you feel good, since people are stopping by to see your home, but they are rarely effective for producing a sale. Good for drawing out prospects just beginning to look at homes, open houses are great for those who are getting a feel for the market. Often they’re just not ready to make a commitment, even if they love your home.
Few real estate agents are excellent at communicating and keeping their sellers informed. If you want to have information on the status of your home’s marketing and any progress notes, you will need to establish that schedule with your individual real estate professional.
The seller must disclose all pertinent facts about the home that are not easily seen. A good rule of thumb: if you are compelled to ask “should I disclose this?” – the answer is probably yes. The Seller’s Property Disclosure Statement MUST be filled out honestly and completely to help protect you.
If your home is more than ten years old, then it may be a wise investment. Many companies offer warranties for $360 – $400.
The seller is not obligated to pay closing costs. However, it may be advantageous if you have a qualified buyer who does not have liquid assets for these costs. Closing costs are typically 2-2.5% of the buyer’s loan amount. Remember to focus on the net amount you receive, rather than the contract price.
This option can only be explored once you find a buyer. You may discuss your needs with your agent and he/she can determine if the buyer is both willing and able to postpone their own move into the house.
Call the utility companies to have them perform a final reading on the day the buyer takes possession. The buyer will need to call to have the service transferred to their name.
