Archive for the ‘Home Sellers’ Category
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Home Sellers
I know I can save the sales commission if I decide to sell my house myself. So what are some things I could lose?
Time
To sell your home, you would have to promote and then supervise the phone, waiting for responses to the advertisement. We have a marketing team to handle this and to designate serious callers from others. We can also pre-qualify potential buyers and make arrangements to show the house.
Money
You’re more likely to attract budget-buyers who seek out for-sale-by-owner homes, expecting to get a lower purchase price because of the saved sales commission. We will show you how to price the house and sell fast.
Access
Self-selling limits exposure to potential buyers who see the for sale sign in the yard or newspaper ads. We’ll bring a network of contacts and our current listing service that puts every agent in town to work selling your house.
Peace of mind
When selling your home yourself, you’re responsible for negotiating a legal contract and seeing that every detail of the contract is carried out. We can screen out unqualified prospects, help arrange financing, and shepherd the sale to settlement.
Posted: May 11th, 2007 at 1:30 pm
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Home Sellers
A List of Contract Options To Attract Your Buyers If you’re selling in today’s market, you want to make your house outshine the competition. Buyers are most likely to choose your house if it offers something special. Here are some ways to make sure you land a sale.
1. Offer a warranty.
Purchase a buyer’s home warranty to protect against future problems.
2. Help with closing costs.
Cash-poor buyers concerned more with out-of-pocket costs than monthly payments will especially appreciate this one.
3. Consider financing help.
Provide seller financing or buy down the buyer’s mortgage rate for the first year.
4. Help with utilities.
Pay some or all estimated utilities for 6 or 12 months.
5. Help with fees.
Pay a year’s condominium or homeowners association fees.
6. Pre-pay memberships.
Buy a one-year pool or community golf club membership, cable TV subscription, or other recreational activity.
7. Consider a moving allowance.
Pay the buyer’s documented moving expenses, or provide an allowance toward moving costs.
8. Treat them to window treatments.
Offer redecorating cash for new carpet or drapes.
9. Mow down any objections.
Buy a lawn-maintenance service for a year, or offer a riding mower if the lot is large.
10. Give them a dock on the bay.
If you live in a waterfront community, offer to rent a boat slip for a year.
11. Reimburse buyer the cost of points.
This is often a double benefit for buyers, who save both on the points themselves and on their federal taxes. The IRS now allows buyers to deduct the cost of seller-paid points as a Schedule A mortgage expense.
12. Price your home below comparable properties.
Prove your home’s good value by having an appraisal done and setting the price below the appraised amount.
Call on us for more ideas of ways to make your home the sweetest one on the market. We’ll create a customized marketing program to help get your home sold in any market!
Posted: May 11th, 2007 at 1:23 pm
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Home Sellers
After signing a buyer’s purchase contract to sell your house, the preparation for settlement begins. Settlement, or closing escrow, is the process of transferring the title (ownership) of the home from seller to buyer.
A lot of times, the real estate agents will help take care of these arrangements. But the buyer and seller are ultimately responsible for managing to these details.
Buyer’s Responsibilities
Buyer gets a loan.
The buyer must first secure the financing to buy the house. Usually this means taking out a mortgage loan. Most lenders require a complete financial report, including income and expenses, and credit check. In addition, most want an up-to-date appraisal of the home, a survey of the property, and any required inspections. Some lenders specify which service providers they want the borrower to use. Once all the paperwork is complete and submitted, the borrower should keep in touch with the lender until receiving commitment.
Obtain homeowner’s insurance.
Prior to buying, a hazard insurance policy should be purchase. The buyer is also required to purchase title insurance policy to protect the lender. If the buyer is interested in bringing an attorney to settlement, arrangements should be made 30 to 60 days in advance.
Receive Good Faith Estimate.
The buyer should receive a Good Faith Estimate of settlement costs a few days before settlement. Along with the loan commitment letter, the buyer must bring a certified or cashier’s check for the down payment and any other costs due at settlement. Mortgage interest from the closing date to the first payment due, escrow for property taxes and insurance, and various taxes and recording fees are included in these cost.
Seller’s Responsibilities
Select closing agent.
Usually, it is the seller that designates the settlement agent. This should be done 30 to 60 days before closing. The seller and listing agent work together to arrange inspections and appraisals and to provide needed paperwork such as previous title insurance information and any prior inspections.
Give loan payoff notice.
The sellers would need to check with their lender to get the current figures for the payoff of the mortgage, and to learn if any rebates are due for pre-paid taxes or insurance.
Joint Responsibilities
Stay on top of details.
Both the buyer and seller need to give the settlement agent any and all relevant information. Many long and detailed forms are usually signed at settlement, so requesting copies of the basic settlement forms in advance to review ahead of time should be considered. At the settlement table, the focus is on checking the exact figures to be sure they are accurate.
Designate legal representative.
In case the buyers or sellers cannot come to closing, they should notify the settlement agent in advance so a Power of Attorney form can be prepared. The person named on the form can act as the signer’s legal representative.
Once all the papers are signed and money paid, the keys are handed over to the buyer and the sale is complete.
Posted: May 11th, 2007 at 1:07 pm
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Home Sellers
Many details must be taken in consideration when selecting your home; price, style, size, location. It’s probably impossible to say which factor is most important. If there is a chance you’ll be moving again in a few years, be sure you buy with a selling in mind. It’s a strong possibility that the items that make your new home a comfortable fit for you will also attract buyers later on.
For the short-term homeowner who has resale in mind, there are some special considerations:
Watch for growth potential
Look for an established neighborhood that will not inconvenienced by future growth but be enhanced by it.
Look out for resale value
Look for a neighborhood where houses sell well in any market.
Check out location
Consider all types of transportation; even those you may not use.
Schools are important
Check for quality public schools, whether or not you have young children who may be attending.
Green is good
Look carefully at the lot for trees and greenery to shield winter winds or summer heat.
Make room for visitors
Be aware of the parking arrangements for you and your neighbors.
Privacy is a plus
Consider how much privacy the house and lot provide you and your family.
Drive the commute before you buy
Check morning and afternoon drive time to work and other facilities you may frequent.
Posted: May 11th, 2007 at 12:06 pm
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