For Sellers
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What Are Your Selling Goals?
Knowing why you are selling will help you and your agent position your property appropriately to meet your needs. For example, if you need to sell quickly you will certainly not want to overprice the house, and will maybe even under price it a little. In almost any case it is a good idea to get the house appraised before you list it. Nothing is worse than selling a house only to find out it is worse several thousand dollars more than you believed. Two things to remember about appraisals - one, you, as the seller, get to decide how much to list your property for, and two, the appraisal is only one man's opinion. Nevertheless it is a good opinion to have, because your buyer, unless they have cash, are also going to have to get an appraisal. If you have overpriced your house and found a buyer for the inflated value, the buyer is going to have to put up additional down payment money to make up the difference between appraisal value and selling price. Unless of course, you want to lower your price during escrow! If you are angling for a fast sale, you can under price your property a couple of thousand dollars and advertise it as "below current appraisal."
Remove The Clutter
Park your boat and any extra vehicle at a friend's house. Rent a storage unit and minimize the stored items left in your closets and garage. Pack away small valuable collectibles. Clear the kitchen counter tops. Strip down the book cases so just a few, nicely straightened items remain. Visit model homes to see how this is done, if necessary.
Take down excess family photos and neatly patch the nail holes. Remove unsightly posters from children's rooms. Make sure all closets are sparsely filled and tidy. If you have too much furniture in any room, move it to your storage unit.
Make Repairs
Fresh paint is not terribly expensive and can make a HUGE difference in the appeal of a home. Stick with neutral colors. If you have painted kid's rooms bizarre colors, now is the time to go back to the color of vanilla ice cream. If you have any stains on ceiling from an old roof leak, paint them. (Make sure the roof is in good repair!)
Have carpets cleaned. Clean the whole house thoroughly, including windowsills, etc. Repair any broken window panes or torn screens. Repairing torn screens is surprisingly inexpensive. Don't neglect to do it. Damaged window coverings, whether they are mini blinds or drapes, are a big negative. Look for some way, no matter how inexpensive it has to be, to replace them. Roller shades are a possibility, as well as inexpensive blinds and material swags over decorative hooks.
Do you already know that the place needs a new roof? You might as well go ahead and have it done. You are either going to have to do that, or take less for your property as a "fixer upper." There is a form, the Sellers Property Disclosure Statement, that you will have to fill out. Any defects you know of about the roof will have to be disclosed.
Most buyers will get a property inspection. You could have that done, and repair deficiencies discovered before a buyer comes along. Then you can advertise that in your listing supplement. You can also buy a home warranty that will cover you during the listing period and the buyer for the first year they own the property. This also can be advertised as a selling feature.
Outside, at a minimum the property should be free from debris and dead plants or trees. Mow and trim grass and weeds. Sweep front porches and steps, and put pretty pots of flowers or greenery near the front door. Scrub the front door, and the wall around the door and doorbell.
Should you paint the outside? That can be expensive, though it will help you get offers. At the least, paint or refinish the front door if necessary.
Clean up grease and oil spots from the driveway and garage floor.
Replace an unsightly doorbell, hardware or mailbox.
Find An Agent
Look for an agent that will be honest with you. An agent that won't tell you they think it's a mistake to list your property $20,000 to $30,000 above appraisal (although the decision is yours!) is just securing a listing away from a more reputable agent. If your property doesn't sell within a month, they will be back to ask you to reduce your price. It may be too late as the initial interest in a new property on the market has faded.
Look for an agent that is diligent. Ask what her marketing plans are. Does she have a web site? Does she advertise in the home magazines? Newspapers? Ask for flyers for the front of your property, and make sure to let her know when they run low. Initially, all your neighbors will take one to find out what you are asking, so you'll have to refill it soon.
Cooperate With The Selling Effort
Your house should always be ready to show, and you should (almost) always be willing to show. If you require a lot of notice, and that your agent be present, etc., you will get less showings. Also, you don't absolutely have to be away from the house. If it's a hassle - stay at your home!
Turn on lights, and put a drop of vanilla on a light bulb or two where odors need to be freshened. Let your agent know about any pets so she can mention them in the listing, and give instructions on how to deal with them to buyers agents.
Assessing Offers
Consider all the terms of an offer before you decide how to respond. A buyer who is pre-qualified, or cash, and ready for a short close is a good thing! So is one who will take your property "as is."
Remember that if you change any part of the contract, you have essentially voided it and are asking the buyer to accept your version. It is fool hardy to void a good contract just to make a tiny, petty, change. We once made an offer on a property, and before the sellers had a chance to respond, our agent called with the bad news that the property lines did not lay where we supposed they did when they made the offer. Fortunately, before we even had time to retract our offer, the sellers countered our offer with a minor adjustment. We were off the hook! We never responded, and a few days later when they tried to accept our original contract we said, "Sorry! It's no longer an option!"
Remember that your buyer can retract their offer as long as they do it before you have delivered the signed contract back to them. However....it is also legal to "shop offers." If your agent knows someone else has shown a lot of interest in your property, she can call them, and tell them about your offer in an attempt to get a competitive bid before you accept the one in hand.