Sellers Guide
You've got Questions, I have Answers
Seller's Guide
Whether this is your first time or you’re a seasoned seller, my tools and resources will help you every step of the way. My local expertise lets me value your property right the first time. Get the best price in the shortest time and save yourself that awful headache of shopping around for the right agent. After 20+ years in the real estate industry, I can get your home sold quickly and efficiently. Contact me today for more information or to set up a meeting.
WHEN IS THE BEST TIME TO SELL MY HOME?
In most cases the best time to sell a home is in the Spring market in our area, which is April, May, and June. However, each home buyer's situation is different so you shouldn't limit yourself to only the most common time to sell. Sometimes listing a home in the Fall and Winter can turn out to be better, due to lower competition. Serious buyers are always looking for a home regardless of when it's listed.
SHOULD I PRICE MY HOME HIGH TO LEAVE ROOM TO NEGOTIATE?
A well priced home should sell quickly, and for close to the listing price. Over pricing your home can cause it to sit longer, and can cause problems when we lower the price to sell it. Buyers will wonder what's wrong with it that it has been sitting so long. I don't advocate under-pricing your house just to make a quick sale. It's just not good to over price it under normal market conditions.
HOW DO YOU DETERMINE HOW MUCH MY HOME IS WORTH?
The most common method of determining the value of a home is by doing a comparative market analysis. This is an in-depth evaluation of recently sold "comparable" homes in the past 6 months. This comparative market analysis considers the local neighborhood, the condition of your home, your square footage, the number of bedrooms, the number of bathrooms, kitchen upgrades, quality of your windows, the roof age, the location (cul-de-sac, street, or main road), the syle of home, and the flooring type to determine your home's sales price.
HOW IS THE REAL ESTATE MARKET NOW?
An experienced real estate professional should be able to explain the current market indicators that help help you understand the condition of the local market. These indicators are things such as the average days on market, which indicates how quickly homes are selling in your area. Another thing to examine is the average list price to sales price ratios which gives us a sense of how to negotiate. A seasoned, professional real estate agent should keep abreast of the local figures, and is what makes them better than someone who just hangs a shingle and shows homes.
HOW LONG DOES A TYPICAL LISTING AGREEMENT LAST?
One of the things to keep in mind when deciding how long to sign a listing agreement is the average days on market. If the average days on market in your local area is 100, then a 90 day listing agreement is not enough time to sell your house. So, it really depends on the market conditions at the time you decide to list your home. I generally prefer to be given 6 months to sell your home.
WHAT ARE SELLERS CONCESSIONS?
Seller concessions are typically cash incentives by the seller to help a buyer with good credit but low cash. Concessions can be used by the buyer to help with closing, upgrades, or cosmetic repairs. A concession can be the difference between a buyer being able to afford your home or go to another one. We evaluate on a case by case basis whether you are willing to offer any seller concessions to a potential buyer with the advantages and disadvantages to you.
WHAT DOES IT MEAN TO GET AN OFFER WITH A CONTINGENCY CONTRACT?
There are many different contingencies in a real estate contract. The most common are a sale contingency, and an inspection contingency. This means that a buyer is writing a contract on your home, contingent on selling his or her home first. If you sign this contract, you give them a specified amount of time to sell their home. If you accept this contract, I like to recommend a kick-out clause in case another buyer wants your home without a sales contingency. Another common contingency is a home inspection. This protects the seller from major repairs, and allows them to cancel the deal without losing their deposit. It is a boiler plate common contingency that I wouldn't object to as your agent.
IS THERE ANYTHING I CAN DO TO INCREASE MY ODDS OF SELLING FAST?
A home that is clean, clutter free, bright, and without pet odors will sell faster than one that is not. The yard should be neatly trimmed and weeded. A new front door can make a huge difference to your buyers. An inexpensive fresh touch is neutral paint if you are so inclined or able to paint. If you have the budget for it, a home staging company can be hired to make your house more presentable with better curb appeal too. Your buyer needs to envision living in your home.
WHAT IS THE BEST HOME IMPROVEMENT BANG FOR YOUR BUCK?
In general, improvements to kitchens and bathrooms add the most resale value to your house. Depending on your neighborhood, and your budget, an addition can also add significantly more value than without it.
CAN I ESTIMATE HOW MUCH I WILL MAKE FROM THE SALE OF MY HOME?
After helping you arrive at a good sales price, an agent can run the numbers to give you a good ball park of what you will net from the sale of your home. This ball park considers things such as current mortgage payoff, closing expenses, settlement fees, and real estate fees.
WHAT HAPPENS IF THE HOUSE APPRAISES FOR LESS THAN THE SALES PRICE?
If the house appraises for less than the sales price, then the seller can do a couple of things. You can agree to sell it for the appraised price. You can ask the buyer to pay the difference (highly unlikely but it can happen), or you can cancel the sale. You do have the option of challenging an appraisal, but the success rate on that is very slim.
HOW IS LINDA PELTON DIFFERENT?
Because I have over 20 years in the real estate business managing title companies, I have handled complex commercial and residential legal transactions. I've even had lawyers call me for legal advice! My expertise is vast and there's not much I haven't done when it comes to real estate. You need a seasoned professional to make sure all your real estate issues are resolved, and that you are protected.
I hope my most FAQ for the seller has given you a good idea of what to expect when you sell your home.
If you have any additional questions, I love to talk on the phone. Please give me a call, or email me.