Sellers

Sure, you can try to sell your home on your own. It’s not likely to be a successful endeavor, even if you know where to start. When you work with a real estate agent, you will benefit from their expertise and experience. They will have resources, marketing know-how, and a plethora of strategies to ensure maximum exposure. Finding the right agent is key to a smooth, successful transaction. Interview three to five agents before deciding which one to use. Ask questions like:

• What does the listing agreement include?
• How long will the home be listed?
• How much is the agent’s commission on the sale?
• Do you pay the commission for the buyer’s agent?

There is a lot that goes into preparing your home and making it presentable for buyers. Again, your real estate agent can help you in this area. They can walk through your house and provide suggestions on things that need to be replaced, repaired, or cleaned up. These are just suggestions; you don’t have to replace or repair every single thing suggested. Use some common sense when choosing projects that will help you sell your house. This doesn’t mean totally remodeling the kitchen and bathroom. It does include making the house presentable and addressing anything that could detract someone from seeing its true value. Some things you will want to address include:

• Apply fresh paint where needed
• Repair doors, windows, or things that stand out
• Repair cabinets or cabinet doors
• Replace the carpet if needed
• Make sure all light fixtures and switches work properly

Your real estate agent will take photos of your house and compile all the pertinent information needed for a listing. You will be asked to fill out a seller disclosure. You will need to disclose any problems the house has had while you were the owner. Make sure to record any rodent damage, water damage or leaks, cracks in the flooring or any other problem, even if you repaired them. Explain how you corrected each problem. Your agent will handle all of the marketing and listing your house for sale online.

When your home is priced right, you should receive numerous offers. All offers are worth negotiating even if someone sends in a very low offer. You can always negotiate by providing a counteroffer. If your price is competitive and based on comparable sales, don’t be afraid to provide a full-price counteroffer. You always have the option of declining an offer.

The buyer usually hires a property inspector who will check for damages or non-functional components. This allows the buyer to make a well-informed decision. If the inspector finds any problems, you may be asked to make repairs or replacements before the sale is finalized. It is also possible to renegotiate a price to allow for any repairs that may be needed. During this time, the buyer can back out without penalty if they deem there are too many things that need to be repaired or replaced. They may also back out of the purchase if there are serious problems. This is why it is important to make any repairs or replacements before showing the house.

The appraisal is scheduled during this phase too. This is usually required by lenders to make sure they are loaning the proper amount to the buyer. Appraisers protect both lenders and buyers and make sure they are getting a fair price. The appraisal can influence the purchase. As the seller, you hope the appraiser will value the home for at least your contract price. If they value it more, that’s good too. An appraisal lower than the lending price can cost you the deal. If you get a low appraisal, discuss your options with your agent. You may need to reduce the sale price.