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Overview of the
Selling Process
- Make a decision to Sell your Home or Property
- Hire a real estate Agent
- Determine the requirements needed To sell
- Prepare the property to be marketed for sale
- Your agent markets the property
- Decide to accept, reject or counter offer
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Getting
your house ready for sale may be one of the most important aspects of
the sale
of your home that you can do. There are some very common sense
things that you can do
which may not only improve the appearance of your home to potential
buyers but may actually
help your realtor to sell your house for a better profit and
perhaps even faster rate of sale.
The
first thing to think of is how you may feel when you are house shopping
about the homes you
have seen in the marketplace.
One
thing is for sure. A clean and clutter free home always looks for
spacious and inviting
than one that isn't. So a good first suggestion is to box up
anything that you may not use daily
and clear out cupboards and closets to create the appearance of more
storage space.
Be
sure to trim the trees and bushes on the property, ensure the lawn is
neatly mowed and edged
at all times for potential buyers driving by and for showings.
Do a
visual on all gutters, ensure they are secured to the house and cleared,
look at the siding,
foundation and walkways, repair any cracks, resurface that driveway if
it is worn.
Put
some colorful flowers in pots by the doorway if you don't already
have some there, trim
the bushes, and get rid of any yard waste.
Fix
any tears, or problems with all windows, doors, polish all handles and
door knobs, you'd be
surprised what a difference that can make!
Get
rid of clutter, clear all those nicknacks off the dressers and shelves,
clean off the kitchen
counters, put things away in drawers, people want to see a clean, open
environment where they
can envision their things, not seeing yours to the point that's all they
can think of doing their
walk-through.
A
fresh coat of paint on the front door is a
welcoming idea and make sure that the door bell is
in working order to make a great first impression. Also remember a newly
painted house inside
or out can bring back a big return on investment at sales time. A
gallon of paint is worth far
more to your market value than it's mere cost. Just remember to stick
to neutral colors when
making your paint selection. It's always good to keep in mind that your
are preparing "a palette"
for the potential buyer, and need to
create as much of an opportunity for them to
Look at the
space in your home to see THEMSELVES WITH THEIR PERSON
BELONGINGS IN THE HOUSE YOU'RE SELLING to "Warm" them into buying it!
What
are the reasons your house isn't selling?
The House is Over-Priced
Compare the listed price to "Like-Homes" in your
area. Your real estate agent can easily get this information for you. Is
yours within the range or at or above the amount the others sold for?
Look at what is more important to YOU, waiting out for the higher price
or do you need to sell as soon as possible? If you are looking to sell
your house in a timely manner take the amount you feel your house is
worth and adjust it for it's flaws and features. Think from the buyers
prospective and try to determine what you would pay for the house as it
stands. Be open-minded to reality in what your house is worth, others
will not have the "sentimentality" factor involved you may have, also
keep in mind the other side, going to low may indicate something may be majorly wrong with the
home and can also turn prospective buyers away.
Did
you cover all the points of preparing the house for Selling?
Many times one missed
item such as smell, poor decorum, not getting that fresh coat of paint
in places it's needed can turn too many people off before they even start
considering the home. Look
at all the points in getting the house ready for sale and check off each
one of them and more if possible. It's all very easy to do and will make all the difference in
many times an "emotional"
decision whether they like the house or not for initial consideration!
Not
working at Selling it
Too many people make the mistake in thinking they
don't have to do anything to sell their house.
Your Real Estate agent will do everything in their arsenal to get the house sold and will
assist you in much of the preparation and what needs to be done in it's
sale. But if you are on a time-table to get it sold, you need to get
small ads with a picture if possible in the local newspapers and
magazines in the area. Also there are many other places you can post
pictures of your home's sale, on Grocery Store boards, Home Improvement
store boards, ensure signs guiding people to your home are up in your
neighborhood, make sure to Network as you would finding a job letting it
enter into all your conversations with people as you never know who
knows who out there that could be looking for a new place to live. Be
creative, things happen more often this way than you
might imagine!
A couple
other tips that may be useful
Some contracts can contain an escape clause
An escape clause, also known as a kickout or knockout clause, is a provision that
allows the party to void the contract. One example is the seller may retain the right to
look for a more favorable
offer, with the original purchaser retaining the right, if challenged,
either to firm up the first sales
contract (such as by waiving a contingency) or to void the contract.
Another example might be the
sellers might insist upon an escape clause in a contract that hinges on
the buyers' selling their home.
A sales contract can also contain Contingency Clauses
Sales
contracts many times contain several "contingency" clauses, or
stipulations that the sale is
subject to. For example, a guarantee that you may conduct a walk-through
inspection 24 hours
before closing. This last clause allows you to check the home after the
sellers have moved out so
that you have time to negotiate payment for repairs, just in case the
movers cause any damage,
or that large painting was hiding a serious crack in the wall you could
not see. With a mortgage
contingency, if the buyer is unable to obtain financing within the
specified timeframe, neither the
buyer nor the seller is required to complete the purchase. Among other
common provisions in the
"subject to" section are termite and other inspection issues and the
purchaser's need to sell a
current home first.
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