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Selling Checklist: The Process Of Selling Your Home
Once
you've made the decision to sell your home, it's time to think about what comes
next. Throughout the process, you may
find it beneficial to have a checklist to help guide you in some very important
choices that you will be making in the coming months.
Interview
Several REALTORS®
A
REALTOR® is a person who you will enlist to help with the selling of your
home. Just like no two homes are alike,
no two owners are alike and each has different needs when it comes to real
estate. The REALTOR® that you ultimately
choose will have access to your home at any time and will be responsible for
marketing it to potential buyers. As
such, you should choose someone that you feel comfortable with and will do the
best job for you. The only way to know
which REALTOR® this will be is to speak with more than one, ask plenty of
questions and get a feel for how they do business.
Get
An Appraisal
When
you list your home for sale, an appraisal will be helpful for a number of
reasons. As the seller, you may wonder
why you would need to have your home appraised, but here's why. As a seller, you do not want to overprice or
underprice your home. If you ask for
more than the home is actually worth, lenders won't likely grant a loan even if
you find a willing buyer. If you price
your home too low, not only will you be taking away from your own profit, but
potential buyers may wonder what's wrong with the home that it's priced so far
below market value.
With
an appraisal, you can list your home with the knowledge that you need to make
sure the price is right. If you want to
advertise the home as a bargain, sell it somewhat below the appraised
value. Buyers will know they are getting
instant equity in the home and lenders will see the investment as a good one.
As a
final thought to choosing an asking price, note that your REALTOR® will require
a commission and possibly other fees in connection with listing your home on
the market. It's perfectly acceptable to
ask the REALTOR® for a written summary of these fees, as opposed to just a
mention of them in the contract, and how much they will be. With this information, you will know exactly
how much money you will have left in your pocket from the sale of your home.
Decide
How Quickly You Want To Sell
Believe
it or not, your schedule could greatly impact the listing price. If you are in a hurry to sell, you may find
that a competitive asking price will help you to get the cash you need much
quicker. A price that reflects the
higher end of a buyer's budget may take some time to sell, so consider these
factors when pricing your home.
Make
Time For Updates
Your
REALTOR® will offer advice as to what needs updated, repaired or changed in
order to maximize the potential of your home.
When a buyer looks at a house, they are looking at the cost, needed
repairs or upgrades, decor, etc. Once
your REALTOR® does a walkthrough and explains what, if anything, needs updated,
you will commit to an asking price and sign the listing agreement.
Field
Offers
As a
seller, you are probably already aware that potential buyers will make an offer
that could be less than your actual asking price. Most REALTORS® will tell you that if you ask
for 'X' amount of dollars, buyers will probably offer you 'X' amount
instead. That's the name of the game,
and you will need to decide whether or not your asking price is firm or
negotiable. If an offer comes your way,
you will always have the option of making a counteroffer or simply rejecting
the deal altogether.
As a
final thought to the negotiation process, keep in mind that buyers typically
offer less than they are actually willing to pay initially. Most offers are time sensitive, which means
you may have to make some quick decisions.
Of course, your REALTOR® will be there to guide you through every step
of the process and will likely offer an opinion as to whether or not an offer
is fair in the current market.
Close
The Deal
When
the price is right and you agree to the terms, it's time to say goodbye to your
former home and hello to a brand new life.
Letting go is not always easy, but moving forward is a part of life. If you still live in the home, most contracts
will require that you move within 30 days.
If you no longer live in the home, most buyers will want to move in
immediately.
See our website at http://naplesrealestateteam.com/ for more helpful real estate information and powerful search engines to help you find the home of your dreams.
