So, you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.
Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.
When Should I Sell?
You should establish your time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain all your goals. If there is no pressing need to sell immediately, we can sit down to thoroughly review the current market conditions and find the most favorable time to sell.
What is The Market Like?
When you work with me, you can be sure that you will have my expertise and negotiating skills at work for you to arrive at the best market price and terms. I will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. With me, you will know exactly how to price and when to sell your property.
How Do I Optimize My Finances?
Deciding to sell your property demands a serious consideration of your current financial situation and future possibilities. With my help, you will be able to effectively assess the cumulative impact of these changes and estimate potential proceeds of selling your property.
What To Look For In An Agent
The following are a couple of factors to keep in mind when you are looking for a listing agent:
Education. Is your agent spending his/her time researching the market and understanding the real estate trends?
Expertise. You want a full-time agent, who employs a diverse range of marketing and advertising strategies? How tech-savvy is your agent?
Availability and Commitment. Your agent should be capable of prompt and decisive action during the course of selling your property. Does your agent make it a point to keep in touch with you constantly? Can your agent be contacted in case of emergencies or even for the simplest questions? Is your agent available on the weekends or in the evenings when most buyers are out looking?
Rapport. Does your agent take the time to listen to your goals and clarify your needs? Can your agent understand your unique situation and be genuinely concerned about the outcome of the process? Your listing agent will be your guide and partner in this crucial decision, so it is important to find one with whom you can get along.
Determine correct value. This is a very important factor when listing your house. Is your agent trying to get the listing by exaggerating the value of your house? Is she/he going to ask for continuous price reductions leading to frustrations for months. Is your house going to sit on the market or move immediately? Does your agent do a comprehensive Comparative Market Analysis?
Staging and Professional Photography. Does your agent hire a professional photographer to show off your property to its fullest potential? Does she give you staging suggestions?
Why Should You Choose Me.
Motivated, Energetic, Experienced, Hard Working and Caring, I know that this is about your home and not just a transaction. For me its very important to maintain a reputation in the market, I like to do my business ethically and provide the desired results in a professional manner. I am with the clients throughout the process and handle every hurdle, if any, in a calm patient manner. I believe in proactively addressing details before they become a problem and stay in constant communication from first phone call to closing. I have advanced training from my company and spend time daily, researching the local real estate market.
I can do a complete Comparative Market Analysis to determine the current market value of your property. Because it is not what you paid for the property or what it cost to build, that determines the value, it is the market that decides the value of your property.
I will always hire a professional photographer to market your property. I can evaluate your home from a prospective buyer’s point of view and suggest whether we need full staging or make minor changes to showcase the home better.
I focus on client satisfaction, I am not happy until you are happy. Let me help you achieve your desired real estate goals.
Prepare to Sell
You can do a lot to increase the appeal of your property and to create a lasting impact on potential buyers.
What To Do To Prepare:
The following are a couple of factors to keep in mind when listing your property for sale:
Curb Appeal. Keeping your landscape pristine, and adding creative touches to your yard, such as colorful annuals, will create an immediate impact on passers-by and potential buyers.
Property Repairs. Simple upgrades such as window repairs, polishing the doorknobs, and a fresh coat of paint in the most frequently used rooms will instantly brighten up the property.
Cleanliness and Staging. Keep your property uncluttered, sweet-smelling and well-lit from top-to-bottom. Pay attention to details: put away the kitty litter, place a vase of fresh flowers near the entryway, pop a batch of cinnamon rolls in the oven, have your carpets cleaned. Your agent should scan the property before it is listed for sale to see how you can improve the staging of your property.
Disclosures and Inspections. I am very familiar with the legal procedures involved in disclosures and am ready to help you develop a thorough disclosure statement beneficial to both you and the buyer, as well as suggest home improvement measures before placing your property on the market (such as termite and pest inspections).
Showtime. Presenting your property to potential buyers is a job that I will take care of you. Buyers feel more comfortable discussing the property with the agent, if you are not there. Moreover, your agent will know what information will be most useful in representing your interests when speaking with prospective buyers.
Accepting an Offer
The Price Is Not Always Right.
“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting and offer for several important reasons: the initial offer is usually not final, and there are many terms and conditions that may influence the outcome of a price. You can trust a professional like me to help you thoroughly evaluate every proposal without comprising your marketing position.
Negotiating The Right Way.
I take the ethical responsibility of fairly negotiating contractual terms very seriously. It is my job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be most suitable for you. As your agent, I will guarantee a thorough and objective assessment of each offer to help you make the right choice.
The Initial Agreement and Deposit.
An effective agreement is a legal arrangement between a potential purchaser and the property’s seller. This agreement usually requires consideration. This consideration (initial and additional deposit) is to be held in the closing agent’s escrow account pending the fulfillment of conditions or contingencies in the effective agreement.
Some important tips to keep in mind to streamline the process even further:
Keep written records of everything. For the sake of clarity, it will be extremely useful to transcribe all verbal agreements including counter-offers and addendums, and convert them to written agreements to be signed by both parties. I will assist you in drafting all the paperwork for your sale and make sure that you have copies of everything.
Stick to the schedule. Now that you have chosen your offer, you and the buyer will be given a timeline to mark every stage in the process of choosing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and ensures that each party involved is not in breach of their agreements. During the process, I will keep you constantly updated so you will always be prepared for the next step.
Inspections and Appraisals
Inspections and Appraisals
Most buyers will have the property inspected by a licensed property inspector within the time frame that was agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property, if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.
The Closing Agent.
Either a title company or an attorney will be selected as the closing agent, whose job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.
A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.
Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:
Obtaining financing and insurance;
Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.
Depending on the outcome of these inspections, one of two things may happen:
Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing; or
The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).
How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? This is when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, I guarantee my expertise and total commitment to every customer, no matter what their situation is.
Loan Approval and Appraisal.
I suggest that you accept buyers who have a lender’s pre-approval, approval letter, or written loan commitment, which is a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.
If you have come this far, then it means that it is almost time for a congratulation, but not yet. Do not forget to tie up these loose ends:
Final Walk-Through Inspection.
More of a formality than anything else, the final inspection takes place a day before, or the day of the closing. The buyer will visit the property with their Realtor to verify that all is in working order, everything is the same as when they last viewed the property, that there are no extra items left behind, and that everything included in your purchase is still at the property.
You need to make sure that the property is clean and all personal items have been removed.
Home Services and Utilities.
I will provide a list of useful numbers for the transfer of home services and utilities after the closing occurs.
I am ready to assist you should an unforeseen glitch pop up, even at this last stage. I promise to be there with you until the last stage and handle them in a stress-free manor.
The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. You and the buyer(s) will sign this statement, as well as the closing agent, certifying its accuracy. If you are unable to attend the scheduled closing in person a mail in closing can be arranged. You can elect to either have the funds wired electronically into your account or accept a certified bank check You will at this time handover all the keys to the closing agent.