QuickOverview

By Penny S. Harmon

The decision to sell your house can be a tough one. The idea of moving out and starting over can be daunting. However, once you have made the decision to move, you’ll want to make certain you take the steps necessary to ensure a quick and smooth sale.

Choosing a Real Estate Agent

The first decision to make is whether or not you will want to enlist the assistance of a real estate agent. You will end up paying a commission of approximately four-to-seven percent of the sale price to the agent, but they will guide you through every step and be responsible for bringing prospective buyers to your home. The commission they earn will not only pay for their time, it will also pay for the marketing of your home, as well.

The real estate agent will actually be a great help to you. They will first do a CMA or Comparable Market Analysis on your home. This will help you decide what price to list your home for and it is done by comparing your home to other similar homes in your area that recently sold. Once you have decided upon a price, your real estate agent will let you know what should be done to ensure your home will sell. These things may include a general clean-up of the property to add curb appeal or may be repairing items that may deter buyers, such as loose shingles on the roof. The real estate agent will then begin marketing your home to potential buyers.

When choosing a real estate agent, you’ll want to ask your friends and relatives who they recommend and consider interviewing at least three before making your decision on who to hire. You’ll want to make certain they have some experience behind them, as well as verify they have had no complaints lodged against them.

Selling For Sale By Owner

If you choose not to hire a real estate agent, you’ll want to be prepared for many out of pocket expenses, such as signs and advertising. While you may choose to make your signs from poster board or cardboard, you’ll find you’ll simply have to keep replacing them. It is best to purchase a For Sale By Owner sign from your local hardware store or have one professionally made for you.

When it comes to marketing your home, you’ll want to make certain you market your home in the right place. For example, if you own waterfront property in Maine, you may find the best place to reach potential buyers is an out-of-state waterfront magazine or newspaper. This marketing would not be best, however, for a small, lower-price property located in the middle of a small town. You’ll also find several web sites have been set up especially for those who are selling their homes For Sale By Owner. You will also want to hire an appraiser to make certain you are listing your home at fair market value.

Another important aspect of selling your own home is to provide the potential buyer with accurate information. They have the right and it is demanded by the law to know the details of your property and all things, good and bad, must be disclosed to the buyer. If you know that your roof leaked the previous year, you must relay this information to a buyer in written documentation. If you are unsure of what to include on a property disclosure, you will find many free documents online you can use. If you choose to use a real estate agent, they will provide you the forms to fill out and they will distribute them to all potential buyers.

The Contract and Negotiations

When you receive an offer from a potential buyer, there will be several items to consider. First and foremost is the price they have offered. Keep in mind that many buyers will often place an offer on your home for a price much lower than they expect to actually pay. You can counter-offer with a higher price more to your liking and this may take a few times before you can agree upon a price with the buyer.

You will also want to make certain you agree to the closing date and earnest money amount. After all, if you can not move out until June 1st and they want to close May 15th, you’ll have two weeks with no place to go. You can also counter-offer on the closing date, as well as any other items in the purchase and sale contract they bring to you. The contract is not valid until all items are agreed upon and the contract is signed by both parties. The earnest money is money they will be placing down on the property. This amount will let you know how serious the buyers are about purchasing your home.

The buyer will often place the offer to you under certain contingencies. They may want to have a general building inspection, sewage disposal inspection, and water inspections performed before agreeing to purchase your home. These contingencies simply mean that if the outcome of the inspections is not to their satisfaction, they can legally void the contract and receive any earnest money back they placed on the property. These negotiations are normal during the selling process and you should be very careful to make sure that all things mesh before you sign the papers.

The Closing

If the buyer has been satisfied that all of the contingencies they placed in the contract have been met, you will want to proceed in preparing yourself for the sale of your home. You, as the seller, are responsible for clearing up any issues with the title to the property that may come up. The closing attorney and title search company that has been hired by the buyers will work with any real estate attorney you choose to represent you in the sale of your home. You will also need to provide the deed to the buyer and sign your approval of the closing statement. Once all of the paperwork has been signed, you will receive a check in the amount due from the sale of your property.

Related Sites  (exchange links with this article)

Property Listing - Property for Rent and Property for Sale - Real Estate for Sale. Oz free offers a comprehensive list of property listings & commercial real estates, online real estates, house for sale, apartment and house for rent, real property search and apartment finder in Australia.

Selling Your Salt Lake City House - Information on buying and selling houses in Salt Lake City.

How to Sell Your House Fast Buying & Selling Real Estate Tips - Tips on how to sell your house fast- Real Estate

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