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Archive for the ‘Selling’ Category

Setting the Price

The price is the first thing buyers notice about your property:

• If you set your price too high, then the chance of alienating buyers is higher. 
• You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home. 

Several factors will contribute to your final decision: 

• First, you should compare your house to others that are in the market. 
• If you use an agent, he/she will provide you with a CMA. The CMA will reflect the following: 
  • houses in your price range and area sold within the last half-year
  • asking and selling prices of houses 
  • current inventory of houses on the market 
  • features of each house on the market 
• From the CMA, you will find out the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours. 
• Also, try to find out what types of houses are selling and see if it applies to your area. 
• Buyers follow trends, and these trends can help you set your price. 
• Always be realistic, understand and set your price to reflect the current market situation. 

Seller’s Tips

The very first impressions count the most!

Here is what every home seller should know when decides to sell:

• Prospective buyer’s first impression starts  with your home when it has been well presented.
• It should not only stand out from the crowd and attract and more inspections, but can also ensure a higher sale price and easiness to sell.
• From the opposite prospective, a home that looks shabby and neglected could turn potential buyers away even before they can come for inspection.
• It is not difficult task to make proper presenting of your home. All it takes is  to keek several basic thoughts in mind.
• Simple and  inexpensive improvements such as washing dirty spots on the walls, cleaning and/or painting window  and doorframes where necessary, fixing up brokenand gates  and  fences, conducting any essential plumbing repairs and cleaning are strongly recommended.

Quick tips for home sellers in today’s market: 

Additional Tips to Home Sellers:

• Put yourself in the position of a potential buyer and do the following things together with your agent :
• Go through the property, starting at the front of the house, and itemise the most cost-effective improvements to make.

At HomeLife Victory Real Estate Brokerage we recommend a handfull of consulting and repair services provided by interior designers, landscape gardeners, property stylists, and amy trades people to help make these changes easily. Your education on the subject of Home Selling should start from the tips otlined below. Please do not limit youself by exercising them:

General

• Leading up to the homes front door
• Begin garden improvements as soon as you decide to sell

The Exterior 

• Up to a point, repair and repaint any part of the home that looks run down or shabby. Consider the gutters, facia, doors and windows.
• The walls and ceilings may need washing down
• Check and fix any rotten timber that’s part of stairs, railings, deckboards etc
• Generally, clean the exterior
• Bright sparkling windows and clean frames make a big difference
• This will give time for new plants or fertilised grass to get established
• Mow the grass (and the nature strip if required), weed and
• tidy up any garden beds including adding a few new plants
• Cut back overhanging branches, trim hedges and sweep the pathways
• Paint the gate and the letterbox if theyneed it
• Rake up leaves and dispose of any branches, cuttings, and debris
• Store tools and bins or arrange them tidily and roll up the hose 

The Interior

• At a minimum, remove any stains wherever they are.
• You may need to get the carpets cleaned
•  Doors and window frames should be cleaned and painted if required 
•  Most buyers will be visiting more than one home on the same day so it’s competition time
• The following finishing touches will help ice the cake:
  • Make sure the home is warm in winter and cool in summer
  • Put fresh flowers in some of the rooms, white or coloured towels in the bathroom(s) according to the overall colour scheme and a bowl of fruit in the kitchen
  • Set the formal dining room table and set the outside table as if you were expecting guests
  • Freshly brewed coffee smells inviting
  • Make the house nice and tidy but not to the point where it looks barren and as if no one actually lives there
  • Ask a friend to look after your dog or cat and make sure the home is free from any “pet” smells
  • Hose down paths, lawn and flowerbeds
  • Relax, go and have a coffee at a friends house or cafe – leave the rest to your HomeLive real estate agent. 

Open House

• The kitchen and bathroom(s) must be spotless
• Buyers usually open and close doors, cupboards, fridges and ovens
• They inspect any appliances that are being sold with the house. These should all be clean and in working order
• In the bathroom remove any mildew and clean the grouting. A new shower curtain will be inexpensive and is a good idea
• To increase a sense of spaciousness, put any non-essential items of furniture away in cupboards and open curtains and blinds
• You can consider actually “styling” your home by hanging paintings and placing mirrors where they create a larger room size impression
• The same applies to an outside area like a patio or garden, which can be “dressed”, if necessary, with the right sort of outdoor furniture.

Your Home Evaluation

Current Market Evaluation

• The important thing to do when selling your home is to complete a Current Market Evaluation.
• Widely accepted and highly professional methods will be used to evaluate your home.
• Consultations will be provided to you for arriving to the appropriate and correct price for your property.
• Please look through this website for additional information and to view our listings.
• Working with me will ensure that you will be receiving the best professional service.

Free Home Evaluation Request 

• I will provide you with a free evaluation of your home.
• A complete market analysis report along with recent and similar properties sold in your area will be sent to you upon request.
• By providing me with the most complete and accurate information, you will be given the most accurate market value of your home.
• The information that you provide to me will be entirely confidential and will be used only for home evaluation purposes.
• The information that you provide will not be released to a third party without your permission.

Evaluation of Your Home                               

• Once you make the decision to sell your home, you need to know what the current  market value of your house is.
• As a complimentary service to you, we will provide you with an accurate evaluation of your home and the market price for the property if it were to be listed today.
• This is a no obligation evaluation and it will provide you with a current evaluation of your property whether you are planning on selling now or in the future.
• Please fill out the form below and we will provide you with an evaluation of your home right away.

Our Home Market Evaluation will show:  

• what’s happening in the local real estate market right now
• what buyers are willing to pay for homes similar to yours
• what they won’t pay
• which homes will be competing with yours for buyers’ attention

Evaluate a home’s resale value by comparing other house prices in the neighborhood. Discover how to evaluate a home’s resale value with expert tips from a licensed real estate agent in this free video:

Geting the highest price in the shortest time

In order to get the highest price in the shortest time, you need to know how to market your home.

• The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.
• The most important factor of marketing your home is pricing it right. Your price should be adjusted to reflect the market, and the property’s worth.
• The key is to get many people checking out your property at a fair price instead of having no buyers because your price is set too high.

Another important factor is the condition of your home.

• Make sure that your home looks ready to be sold.
• Fix any defects (peeling or faded paint, cracks, stains, etc.)
• Condition alone can sometimes prompt fast buying decisions. Not only should you fix any defects, but consider upgrading your home by making major repairs and cosmetic improvements before selling.

A nice looking home triggers the emotional response that can lead to a financial response.

Learn how to negotiate the best terms for all parties involved.

• Terms are another factor which may be adjusted to attract buyers.
• If you insist on getting your asking price, think of what you can offer to the buyers, for example, improvements you’ve made, or even offering seller financing at a lower than market interest rate on a portion of the sale price.

Convince them why they should be paying the price you have set.

Lastly, get the buzz out about your home.

• List your house with a hot agent that ensures your house is listed on the MLS and on the Internet.
• On your own, get the word out. It should be visible to passerby’s that your house if for sale, whether it be signs, local advertisements or you telling friends, family, and acquaintances.
  

How You and Your Realtor Price Your Home for Sale:

Making a good first impression

If you want buyers to be interested in your home, you need to show it in its best light.

• A good first impression can influence a buyer into making an offer; it influences a buyer emotionally and visually. In addition, what the buyer first sees is what they think of when they consider the asking price.    
  A bad first impression can dissuade a potential buyer.
• Don’t show your property until it’s all fixed up. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.
  Ask around for the opinions others have of your home.
• Real estate agents who see houses everyday can give solid advice on what needs to be done.
• Consider what architects or landscape designers have to say.
• What you need are objective opinions, and it’s sometimes hard to separate the personal and emotional ties you have for the home from the property itself.  

Typically, there are some general fix ups that need to be done both outside and on the inside. As a seller, you should consider the following:

• Landscaping:  Has the front yard been maintained? Are areas of the house visible to the street in good condition?
• Cleaning or Redoing the Driveway: Is your driveway cluttered with toys, tools, trash etc.?
• Painting: Does both the exterior and the interior look like they have been well taken care of?
• Carpeting:  Does the carpet have stains? Or does the carpet look old and dirty?
  

Know why you are selling

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities.

Plan of Action

1) Analyze why you are selling – If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.

2) Prepare your home for the buyer – Maximize the strengths of your property and fix up it’s weaknesses. You want the buyer to walk away from your home with a lasting good impression.

3) Find a good real estate agent that understands your needs – Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.

4) Be prepared for negotiation – Learn and understand your buyer’s situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.

5) Negotiate for the best price and the best terms – Learn how to counter offer to get more from every offer.

6) Make sure the contract is complete – Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home’s defects. Insist the buyers get a professional inspection. This will protect both you and the buyer.

Insist on home inspection

A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property’s defects.

A home inspection usually covers the following:

• Plumbing conditions – if there is leakage or clogging
• Roofing conditions – the extent of deterioration, if there is leakage
• Electrical conditions – if there are inadequate circuits or potential fire hazards
• Structural problems – if there are problems with the underlying  foundation of your home
• As a seller, the home inspection reports protect you because it establishes the actual condition of the property at the time of  sale.    

How long does a home inspection take?

Working with your real estate agent

You help your sales associate by collecting or providing the following information:

• The legal description of the property
• The number of rooms and their sizes
• A list of things not attached to the house that you’re offering for sale, such as window treatments, carpet, fixtures, swing sets, etc.
• Past utility bills, property taxes and insurance
• Information about your mortgage, including the type, terms and assumptions
• Financing assistance, potentially through your own lender
• Any liens against the property
• If you live in a condominium or a townhouse, include a copy of the association’s declaration, bylaws, and financial statement, monthly fees and special assessments
• Special items or improvements about the house. (Point out things that may not be apparent on a walk-through.)
• The positive points about your neighborhood, such as demographic information and proximity to services, shopping, schools and other areas
• Any defects that aren’t apparent. (You should inform your sales associate about defects, so a buyer can be informed.)

Richard Van Dyke covers picking the right Real Estate Agent. Your home is not only the place you live and raise a family. Your home is one of the most important investments you will make:

 A few checklists to help you deal with the sale of your home

Maintenance Checklist

General Checklist

Cost Checklist

Packing Checklist

Moving Checklist