you know some 100,000 people put their home up for sale each
week? With those kinds of numbers, it's easy to see that competition
is pretty fierce. So, the better prepared you are, the better
your experience will be, and the better (and faster) outcome
you can expect.
1. Get Pre-Approved
for a Home Loan
you decide to sell the house, get pre-approved by a lender
you trust and research the housing market in the area
where you wish to live so that you have a good idea how
much it will take to buy a replacement.
2. Make a Good First
attractive, well-maintained home will generally sell
faster and for a higher price than a similar home that
looks drab or run-down. When you prepare your home
for sale, take a critical look inside and out. If you're
having trouble being objective, ask Karen, a neighbor
or a friend to help. Watch for places and things you
can clean up, repair or replace.
home will be competing with similar homes for sale in
and around your neighborhood, so it's a good idea to
know which homes are on the market and what their asking
prices are. Take a leisurely walk or drive through the
area to look for signs, check local newspaper and Internet
listings, and make sure you ask Karen for a comparative
market analysis (CMA), which includes information on
area homes for sale. All of this will help you when you
work to determine the fair market value of your own home.
4. Prepare For Showings & Open
and open houses let potential buyers personally tour
your home to see if it fits their lifestyle. Your goal
should be to create an environment where potential
buyers can visualize how the space will fit them. This
includes removing items from your kitchen counters
and arranging your furniture to create a simple, spacious
appearance, so it's easier for buyers to see themselves
5. Determine Your
Costs to Acquire a New Home
your costs to acquire a new home: moving expenses,
loan costs, down payment, home inspections, title work
and policy, paying for a new hazard insurance policy--all
expenses related to buying a home. Your lender should
give you a disclosure of estimated costs when you apply
sellers usually expect to negotiate the price and terms
of a home sale. You can speed up this process if you
evaluate and respond to offers and counteroffers in a
timely fashion. Don't worry if you're not personally
comfortable negotiating; Karen has great experience and
will help you through this process by handling all negotiations.
buyers will request a home inspection before completing
the sale. Once they have the inspection results, many
buyers request certain repairs. As the seller, you should
receive a written copy of the inspection report. Be sure
to review it carefully so you understand the nature and
extent of any problems and repairs a buyer may request.
Karen will help you respond to the inspection, clearly
stating what you will take care of, how and when.
8. Finalize Contract
- Contractor Repairs?
the home inspection is complete, the selling and buyer
will need to review and negotiate any discrepancies and
have them resolved prior to closing. If the house is
well maintained there is seldom any home inspection issues.
is where ownership is legally transferred to the buyer.
As the seller you will need to be prepared to give
over any necessary documentation regarding the property
and, depending on the arrangements made during negotiations,
you may be required to have done something specific
in order to close. Karen can save you time and money
by being present during the closing to help explain
the process and forms to you and make sure everything
goes as planned. By being present during the closing,
Karen can mediate any last minute issues that may arise.
Something always seems to come up!
on the successful sale of your home. Hopefully, everything
went monthly and you will be vacating your house
in the time frame that you had anticipated. You should
make a list of all the items you will need to do
to turn the property over to the new owners. You
will need to do such things as make sure that all
of the local services (i.e. electricity, gas, lawn
care, cable, etc.) have been canceled or, if the
new owner is going to retain some of the services,
the name for the account should be changed. The property
and anything assigned to the buyer according to the
contract, should be prepared appropriately for the