| Click on our Advertisement |
|
|
Perhaps you’ve heard a horror story about a seller whose real estate transaction didn’t turn out as planned. It may have gone something like this. The house takes forever to sell and when it does the seller is disappointed with the price. Then the termite inspection reveals extensive damage, which comes as a complete surprise. Finally, the transaction falls apart at the last minute, without warning, and the seller is back to square one. Here are a few tips to help you avoid an experience like this.
Start by planning ahead. If you’re contemplating a move, start preparing well in advance of the date you plan to put your home on the market. Meet with your real estate agent and develop a game plan. If you don’t have an agent, start interviewing. An agent can advise you about what you need to do to get your home ready for the market.
Have your home inspected before you start your marketing effort. Your agent can tell you which reports are recommended for your home. For example, if your roof is old, your agent may recommend that you have it inspected. To minimize the risk of being surprised by a bad inspection report, find out as much as possible about your home’s condition.
Choose your real estate team carefully. Buying and selling homes is stressful. A good team of professionals -- real estate agent, inspectors, loan agent if you’re also buying a new home -- will help keep the process running smoothly.
FIRST-TIME SELLER TIP:
One of the most important things you can do to ensure a successful home sale is to list your home for a realistic price. Over-priced listings take longer to sell. Usually, the longer a home stays on the market, the lower the ultimate selling price. Pricing strategies will vary depending on market conditions. In most cases, it’s best to list for a price that’s close to the expected selling price.
Help the real estate agents do their job by getting your home into top condition and keeping it that way while your home is on the market. Agents like to show homes that show well. The more your home is shown, the better your chances of selling in a reasonable time and with the least amount of inconvenience.
Set up a showing procedure that makes it easy for agents to show your home. Inventories of homes for sale are increasing. You may find that you have competition from other sellers who are also trying to sell their homes. If it’s difficult for agents to show your home, your marketing effort will suffer.
You should leave your home when it’s shown to prospective buyers. It’s natural to be curious about buyers’ reactions to your home. Ask your agent to follow up with other agents who show your home so you can get feedback. But, don’t hang around the house while buyers are trying to decide if your home is the right house for them.
Disclose property defects in writing. Sellers often fear that disclosures will drive buyers away. This rarely happens. Failing to disclose defects could be costly if you end up in court.
Let your agent know that you want to be kept up to date about all aspects of your real estate transaction, especially any bad news. The sooner you know about a potential problem, the sooner you can start working on a solution.
THE CLOSING:
Take a positive rather than adversarial approach to your negotiations with the buyer. You’re both interested in the same end result: a successful home sale.
|
