|Determine Offer Price|
How long does the whole process take?
What are normal closing costs?
What can I do to make my home more desireable?
Should I wait until I find a home?
What are some differences between selling your property yoursellf and using a major real estate company?
How long does the whole process take?
A normal closing date is 30 to 45 days from the original offer date. Remember it can be very costly to close at the beginning of a month! Closing dates are a negotiable item. Marketing time all depends on the condition, terms and area of your property. Also marketing time has a lot to do with how the market is in your neck of the woods.
What are normal “closing costs”?
When you hear the phrase “closing cost” people tend to think this is one price, however closing costs consist of several items. Some are as small as recording fees, others as large as discount points. The basic rule of thumb is that your closing costs will be close to 2% of sales price. Remember closing costs are also negotiable, however, this depends on the type of financing you and the buyer have worked out. It is always best to know what your costs could be before putting your property on the market.
What can I do to make my home more desirable?
If it’s possible take time to look at new builder models. These companies have spent several thousands of dollars trying to see what pushes buyers’ buttons. Have a neighbor or a friend critique your home from the curb to the back yard. You tend to overlook items when you have lived in the home for any period of time. A home looks bigger when it is brighter, shows better when there is less clutter and sells faster when it smells better.
Should I wait till I find a home?
Depends: How is the market in your area? What is the time on market? What financing terms are you giving? In a good market sellers will not look at an offer till the buyer’s home is sold. However, in a bad market it might be several months before you sell your property. Notice the homes in your area: are they selling quickly or have they been on the market a while? Remember – if your property is sold or in escrow you have a lot more bargaining power.
A few of the differences between selling your property yourself or using a major real estate company!
1. Qualified buyers
2. It costs nothing to use a REALTOR to purchase a home and most people don’t understand all the legalities of the buying process, so they use licensed Real estate agents.
3. Out of state buyers don’t have time to shop, they use a Realtor.
4. Major Companies have hundreds of houses to show.
5. Know the people they are contracted with.
6. Know every aspect about the legal part of real estate.
1. Unqualified buyers
2. Bargain hunters; people know you are trying to save the commission so they take it off the top of your asking price.
3. Buying or selling a home is an emotional process. Most people prefer to have a third party involved.
4. You only have ONE home to show them
5. Big security risk
These are just a few differences. Ask your Real Estate advisor for even more advantages to using a large Real Estate Company
DID YOU KNOW? You can receive two offers on your home. One for $150,000 and the other for $142,000 and the money in your pocket could be less on the 150k offer. This is one of the biggest transactions you will ever have. Don’t make a costly mistake. Know your costs. Don’t be surprised at the closing.
What does using a Realtor cost? When do I pay them? It costs you nothing to use a licensed real estate agent to market your home until you are happy with an offer you receive, you accept it, and the transaction closes. Most qualified buyers don’t always understand all the paperwork and legalities of the real estate business, so they have a licensed REALTOR to handle the whole transaction. Besides it isn’t costing them any up front money. Wouldn’t you, as a seller, also prefer to have professional representation?