| Benefits
of Selling with Debra4homes
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How to get the Best Price for your Home
Changing the location
of your home to that really hot spot in the community
isn't very cost effective. Your property must be attractive
to sell quickly and smart pricing is the number one
method to attract buyers. An experienced and licensed
real estate agent will have computer access to up-to-date
information on current real estate market conditions
and comparisons of properties in your community. Price
your property competitively if you want to attract buyers
quickly. Statistics show that a home priced 5% above
market value has a 10 times greater chance of selling
than one that is priced 15% above market value. Factors
that buyers consider most are location, property condition,
price, financing and terms.
When two homes are
similar in style, location and condition, but one is
priced lower than the other, the lower-priced home sells
first every time. Know your competition! Utilizing an
agent to advise you on these matters will maximize
your opportunities to sell. Some examples of this are
that you agent may recommend repairs or cosmetic work
to enhance the salability of the property. |
New Capital Gains
Tax Rules
Single sellers may defer
$250,000 in gain, tax-free and married couples $500,000. Sellers
can use this tax-free gain law every two years, if the house
you sell has been your primary residence for two of the last
five years.
First Impressions
Remember curb appeal is
an important buying factor. Take a tour of your neighborhood
and rate the homes by your first impression. Then look at your
own home. Little things, like cut grass, clean sidewalks,
neatly rolled hoses and trimmed landscaping make for a good
impression.
Fix whatever really needs
repair in the home. Inspections will probably catch these
things anyway, so why risk losing a buyer because the door
sticks? A little interior trim paint and touch up will spruce
up the interior. Unless the walls are hideous, don't paint
. The buyer probably will want to change it anyway. If you
must paint use neutral colors.
Effective Marketing
How your listing is presented to buyers
is key to a sale. A real estate agent can develop a plan that
includes exposure of your property to other real estate agents
and the public. Typically your broker will arrange a showing
to the local broker agents ( This first step is called a brokers
open). About 60% of all real estate sales are the result of
cooperation between these agents. Often an agent other than
the listing agent (your agent) brings in the buyer. Your agent
is pivotal to selling your home, disbursing property information
to other agents through a service such as MLS® Multiple
Listing Service, creating brochures for drive-by clients and
in some cases, preparation color advertisements and placement
into papers and magazines.
The choice of media and advertising
timing will depend upon your property and the specific market
for it. A good mix of media works well to reach today's busy
consumer. The world wide web, mailings, advertising, Brokers
open, frequent open house showings are all good choices.
 Negotiations
for Top Dollar
Once a buyer presents an offer, a careful
evaluation process should begin. An agent can assist in evaluating
not only the reasonable nature of the offer but also in assessing
the credibility of the buyer. A buyer may look good, present
a great offer, however his financial situation may flag your
agent to difficulties. Other associate agents may know the
buyer and might share valuable information to aid in your
brokers evaluation of the proposal. A good agent will research
the buyers situation and advise you of your options. Once
you accept an offer, a highly structured process begins.
The Buyer/Seller process may include
a lot of possible pitfalls. inspections, appraisals and financing
are some of the areas involved. Your agent will help you write
a legally binding agreement and explain the forms and contingencies.
The objective is to make it through this process and arrive
at the closing table.
Between the initial agreement and closing,
many questions may be raised. Unexpected repairs may be required
in order to receive financing approval or the buyer may ask
for some additional repairs. Sometimes there is an issue in
the history of the property title that must be resolved before
the buyer or lender will approve the purchase. These issues
can be overwhelming. You should rely on the experience of
your agent to guide you in resolving issues. Doing so will
likely quicken the closing and be a more enjoyable experience
for you.
A Word of Caution
All agents are not equal. Only real
estate licensees who are members of the National Association
of
REALTORS® (NAR) are properly
called REALTORS® and subscribe to a strict Code of Ethics
requiring them to treat all parties honestly. They are expected
to maintain a higher level of knowledge of real estate buying
and selling processes.
For most, a home is the most significant
investment made. Most home purchase sales exceed $100,000.
This is a lot of money at risk, legal questions often arise.
You should rely on the expertise of a trained and Licensed
REALTOR® to aid in the sale of a home.
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