Bryan and Donna French - REALTORS - CENTURY 21 Almar & Associates 19700 Cochran Blvd Port Charlotte Florida 33948 - Cell 941-661-1183 - Fax 941-624-3285
Your home is more than an architectural structure. It's an extension of who you are, representing your personality, style and values. That's why selling it can be such an emotional experience. But it can also be exciting and rewarding.
We can help you transition from the emotional decision to the objective planning phrase by arming you with key information about the home selling process.
The four major steps in selling a house are:
Planning the Sale
Understanding the Market
Getting Your Home Ready to Show
Closing the Deal
Planning the Sale
Although selling is generally less complicated than buying a home, you'll still need to do some homework and planning to ensure you get top dollar on the sale. Here is a summary of the process:
Select a sales associate right for you.
Sign the listing agreement.
With the help of your sales associate, review the latest real estate market trends and determine the right selling price.
Estimate the amount you'll make from the sale.
Review financing options available to potential buyers.
Arrange for inspections.
Make any necessary repairs.
Get the house in showing condition.
Review the offers your sales associate presents to you.
Close the deal.
Understanding the Market
Although you set the asking price, buyers determine the value. They compare your home and your asking price to similar homes. If your price doesn't stack up, they'll quickly reject it and move on to the next listing. That's why your first step in determining the right price for your home is to have an experienced real estate agent prepare a Comparative Market Analysis (CMA) report for your home. The report provides details on recent home sales similar to yours, as well as the asking price of homes currently on the market (your competition). Once you've done your homework on the marketplace, you'll also want to consider the factors listed below that may add to or detract from the value value of your home. With these factors in mind, you should be able to determine a fair price for your home: LOCATION: What are the tradeoffs and advantages of your property? Is the house located on a busy street or is it on a cul-de-sac? Look at botht he area in which it is located as well as the neighborhood. FEATURES: Does your house have specific features that set it apart from others, such as a spectacular view, a large patio area with pool and spa, high ceilings, etc.? CONDITION OF THE HOUSE: Has the house been adequately maintained? Are there minor or major repairs that could make a difference in the immediate sale of your house? AGE OF THE HOUSE: Potential buyers will want to know the age of the plumbing, roof, appliances, A/C, etc.? If anything has been replaced, this could add to the value of your property and the sale price. THE CURRENT MARKET: Is today's market a buyer's market or a seller's market? A "buyer's market" means there are several similar house for a buyer to choose from. Usually, interest rates are more attractive, and prices are steady. A "seller's market" is the opposite. While interest rates may be low or high, housing prises are onthe rise, and there are few houses to be sold. YOUR TIME FRAME: How long do you have to sell the house? What was the avarage time on the market for a comparable home? Canyou wait while a buyer arranges financing? Does your purchase of another home depend on this deal closing quickly? Getting Your Home Ready to Show
To get top dollar and sell quickly, you must prepare your home and property so that it's in top-notch, move-in condition. Take a look at your house as if you were seeing it for the first time. You may not notice crowded closets and untidy flower beds, but potential buyers will.
CURB APPEAL: First impressions are hard to break, and the way your home looks from the street ("curb appeal") can make or break the sale. Does it look a little dingy or dull? Give it a face-lift with a good old-fashioned paint job or power wash. Keep the grass mowed and the weeds pulled. Trim trees and bushes. Plant flower to add a touch of color. Replace a weather-beaten mailbox, and add visual interest by positioning rocks and potted plants around it.
Remove grease or oil spots in your driveway.Make sure your doorbell works.Repair torn screens.Clean outdoor light fixtures.Repair loose roof shingles and fill cracks in the walk and driveway.And once the potential buyer is out of the car, continue the allure with a friendly front door.Restore its luster with a few coats of varnish or spiff it up with a rich, new accent color.In other words, make your entire property a showpiece.
HOME STAGING FOR SUCCESS: They’re ready to open the door.Is your home in order?Start by getting rid of the clutter (don’t forget the garage), leaving a blank canvas for buyers to fill in with their own ideas.
Clear out closets and cupboards.Remove knickknacks from tables, countertops and bookshelves.Remove all unnecessary furniture to make your rooms seem more spacious.Brighten rooms with a fresh coat of paint.Choose neutral shades of white, off-white, beige or light pastels that will coordinate with most decors.Give your home an open, airy feel by opening the curtains and pulling up the blinds.Turn on as many lights as possible.
Kitchens should be absolutely spotless.Pack up all excess kitchen appliances.Clean the oven inside and out.Run a lemon through the garbage disposal for a fresh smell.Make sure all appliances are working.Remove magnets from the refrigerator door.
Bathrooms are just as important.Remove stains from bathroom fixtures, repair dripping faucets and polish mirrors.Add sanitizers to toilet bowls and keep lids down.Wash and fluff bathroom rugs, hang fresh towels.Potpourri and scented soaps add a nice fragrance to the air.
And as a final touch, appeal to the home buyer’s senses by playing soft background music while people tour your home, and baking cookies or bread just before they arrive.
Ask your CENTURY 21 real estate agent for additional tips on getting your home ready to sell.Also, let your CENTURY 21 real estate agent show the house.He or she knows the business and will present your property to its best advantage.Plus, potential buyers usually feel more comfortable when the owners are not precent.
Closing the Deal
When someone prepares an offer, they advise your CENTURY 21 real estate agent who then makes an appointment to present it to you (all offers for your property must be presented to you).
Your CENTURY 21 real estate agent will counsel and advise you, but the final decision will be yours.Review every offer, comparing the financial qualifications and readiness of each buyer.You may either accept an offer as is, reject it or make changes and sign it back to the purchaser to see if they are willing to accept your changes.In turn, the buyer then may either accept your changes, reject it, or come back with a counteroffer.This process continues until a deal is agreed upon or negotiations are terminated.
Rest assured that your CENTURY 21 real estate agent will be armed with information to help you negotiate the best deal.And for your protection, a deposit can be collected from the buyer prior to any acceptance of the purchase offer.A written agreement stating all conditions of the sale will be signed by both parties.
Now comes the time to sit back and be patient.The buyer is busy arranging mortgage financing.The real estate company and the title company are beginning to accumulate data and prepare documents.Your CENTURY 21 real estate agent is tracking the progress of the sale.It’s a good time for you to take a breather and start thinking about the next big step—moving into your new home.
Final closing day will be scheduled when all the steps are completed.Closing is when you and the buyer sign all the paperwork and pay your share of the settlement fees, and the documents are recorded.Once you present an executed deed to the buyer and receive the check in the amount agreed upon, your house is successfully sold.
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