Diane Smith, RealtorClass Harlan Real Estate, 15 West State Street Doylestown PA 18901
215-290-4038-Direct
Diane@DianeSmith.org
215-348-8111 x48
PA License #RS281342
Decide to Sell
So you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process. Bear in mind that most sellers don't necessarily rely on an office but on an agent that they feel comfortable with to market their property and conclude with a successful transaction. I am driven with enthusiasm to succeed as a Realtor and I am very optimistic that I can assist you with your real estate needs. Basically, clients want to sell their home at maximum price in minimum time, with as little inconvenience to them as possible and I know that I am the Realtor for YOU! Call Diane at (215)-290-4038 or e-mail Diane@DianeSmith.org today!
Why Sell?
Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? You might think your reasons are obvious, but it would do well to consider the implications of each option for your lifestyle, opportunities, and finances. Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.
When Should I Sell?
You should immediately establish your time frame for selling. If you need to sell quickly, I can speed up the process by giving you a complete market analysis and action plan to obtain all of your goals. If there is no pressing need to sell immediately, you can sit down with your real estate agent to thoroughly review the current market conditions and find the most favorable time to sell.
What Is The Market Like?
When you work with me, you can be sure that you will have my knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. I will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. With me, you will know exactly how to price and when to sell your property.
What to Look for in an Agent
The following are a few questions to ask when interviewing a potential listing agent:
Hire an agent who is familiar with your neighbored and the sales activity in your area.
Decide on your priorities (quick sale, high offer, etc. and discuss with the agent).
Ask the agent for references and a list of homes he or she has sold in the last year.
Walk around your house. Ask the agent for his or her suggestions for improving its chances of selling.
What are the agent's fees and commissions?
How often will he or she host open houses or a brokers open
How will the agent advertise the sale of your house?
Since 97% of buyers search online for their home will the agent use online advertising?
Does the agent have a website or multiple listing service?
Will he or she provide and a brochure for potential buyers
Will he or she put up a "For Sale" sign?
How long will your contract be active?
Remember to Ask:
If you are unhappy with the agent, how long after the contract expires can you hire another agent?
Will the agent offer a commission fee reduction if you refer someone to them to purchase your home?
What Is Your Property Worth?
Without a professional agent, most independent property sellers tend to overestimate the value of their property. You can avoid this pitfall by consulting with an experienced real estate listing agent. Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area. It’s often difficult to remain unbiased when putting a price on your home, so your real estate agent’s expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars. Remember: You’re always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.
Prepare your Sell
Most of us don’t keep our homes in “showroom” condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It’s time to break out of that owner’s mindset and get your house in tiptop shape. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer.
First impressions are the most important. Your real estate agent can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers.
A home with too much “personality” is harder to sell. Removing family photos, mementos and personalized décor will help buyers visualize the home as theirs.
Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer’s first impression.
Clutter is a big no-no when showing your home to potential buyers. Make sure you have removed all knickknacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.
Keeping your landscape pristine, and adding creative touches to your yard, such as colorful annuals, will create an immediate impact on passers-by and potential buyers.
Accepting an Offer
"The higher the price, the better the offer." Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust our professionals to help you thoroughly evaluate every proposal without compromising your marketing position. After receiving the offer, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.
Negotiating The Right Way
I take the ethical responsibility of fairly negotiating contractual terms very seriously. It is my job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you - and as your agent, I will guarantee a thorough and objective assessment of each offer to help you make the right choice.
The Initial Agreement and Deposit
An effective agreement is a legal arrangement between a potential purchaser and the property’s seller. Laws vary from state to state, but in order to be a legally, binding agreement, the agreement may require consideration. This consideration (initial and additional deposit) is to be held in the listing brokers escrow account pending the fulfillment of conditions or contingencies in the effective agreement.
Escrow, Inspection and Appraisal
Most buyer will have the property inspected by a licensed property inspector within the timeframe that was agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property, if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate.
Contingencies
A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector. Depending on the outcome of these inspections, one of two things may happen:
Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing; or
The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price or the work to be completed prior to settlement).
How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? This is when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, I guarantee my expertise and total commitment to every customer, no matter what their situation is.
Loan Approval and Appraisal
I suggest that you accept buyers who have a lender's pre-qualification, pre-approval, approval letter, or written loan commitment, which is a better guarantee of loan approval than no documentation from a lending institute at all. Expect an appraiser from the lender's company to review your property and verify that the sales price is appropriate.
Close of Escrow
Once you accept an offer to sell your house, you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected or repaired. Your real estate agent can spearhead the effort and serve as your advocate when dealing with the buyer’s agent and service providers. Depending on the written contract, you may pay for all, some or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the home, the terms set forth in the contract will dictate your next step.
You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing. "Closing” refers to the meeting where ownership of the property is legally transferred to the buyer. Your agent will be present during the closing to guide you through the process and make sure everything goes as planned. By being present during the closing, he or she can mediate any last-minute issues that may arise.
The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. The buyer(s) will sign this statement and then you will sign as well as the closing agent, certifying its accuracy. If you are unable to attend the scheduled closing, then arrangements can be made depending on the circumstances and the notice that we receive.
If you are receiving funds from the transaction, you can elect to either have the funds wired electronically to an account at your financial institution, or have a check issued to you at the closing. The seller should arrange to have all property keys and any other important information for the new purchaser at the closing, so that the purchaser may receive these items at this time.
Two weeks before the closing, you should make a “to do” list for turning the property over to the new owners. Here is a checklist to get you started.
Cancel electricity, any utilities, gas, lawn care, cable and other routine services
If the new owner is retaining any of the services, change the name on the account.
Gather owner’s manuals and warranties for all conveying appliances.
Call or E-Mail DIANE SMITH today
(215)-290-4038-Direct
Diane@DianeSmith.org
Class-Harlan Real Estate
15 West State Street
Doylestown, PA 18901
(215)-348-8111 x 48-Office