Archive for the ‘down payment’ tag
Selling your home? Has it been sitting on the market for what seems to be forever? Do you really need to sell fast for an important reason?
Here’s a few tips to help you:
Contract a top sales agent that is going to work on YOUR behalf and not on behalf of the buyer. A good local agent that knows the neighborhood is your best bet.
Face it – everyone would love to sell their home for a million dollars but there are many factors involved when setting your selling price. Don’t list with an agent that is going to tell you to price your home so ridiculously high that no one will even pay attention to the for sale sign.
Discuss with your realtor the prices of homes in the area, and listen to their expert advice. Yes you can always come down on your price – just don’t over-price it too high. Your realtor can also give you various statistics of how fast homes are selling, what buyers are looking for and how your home compares to others in the vicinity.
Be flexible when pricing. What is your initial asking price? How long will you hold out before making a reduction? How much of a reduction are you willing to take?
Too stubborn for a realtor? Don’t want to pay their percentage for doing the work for you? You can try selling it yourself. Sure you are eliminating the agents’ commission – and you can put your property on the market for a lesser amount. Lower-priced home always sell faster. The lower the price – the faster it will sell.
Selling yourself makes you the real estate agent – so begin to work on your own behalf.
Start out by assessing your home by looking at it as if you were buying it.
Is it clean? Spacious? What is the condition of the floors and/or carpeting? What is the condition of the walls? How about the fixtures? Are your doors and windows in good repair and do they seal well? What is you indoor and/or outdoor paint job like? Roof? Gutters? Garage? Basement walls? Driveway and walkways? Heating and/or air conditioning units? Light fixtures and wall switches? All the electrical plugs working? Lead VS copper piping? Doorbells working? Sinks, tubs, showers and toilets all working properly?
Clean up the kitchen and bath – remove everything from the countertops. Potential buyers want to see the kitchen and bath – not a counter display of appliances, etc.
Keep your home – the rooms, closets, cupboards, pantry, basement, attic – all clutter free. This gives the potential buyer a chance to see your home and not your junk. Rent a storage unit to store things in. Would you buy a home so filled with clutter that you couldn’t see anything but clutter?
Have you done any major repair work or remodeling?
Your entryway to your home should look inviting. Landscape a bit to make it look more appealing.
How’s the lawn and fence look? Free of all clutter? Well maintained?
Before anyone will look at your house and do a walk-through they will do a drive-by.
Now for the pricing – it would be worth getting a professional appraisal.
Have an Open House and if possible, try to pre-screen prospective buyers.
You will need and attorney to protect your interests. A qualified real estate attorney will help you through complicated offers (those with a variety of conditions), act as an escrow agent to hold the down payment, evaluate the complex mortgages and/or leases with options to buy, review all contracts and handle your home closing process. Your attorney will also tell you what you need to disclose to the buyer before selling and will also help you to avoid inadvertently discriminating against any potential buyers.
Sometimes a title company will handle all aspects of the transaction and have in-house legal departments that can assist you with legal issues that may arise.
Banks today are not giving mortgages – so be willing to be the bank. Someone may want your home but may not be able to qualify for a loan. You can legally sell your home, carry the note as if you were the bank and offer instant qualifying to your buyers.
Be prepared with information on interest, monthly payments, late fees, insurance, taxes and anything else a buyer will be asking you.
Remember that if your buyers cannot qualify for a loan now – there is a very good chance that in a couple years they will be able to qualify for a loan with the bank and pay off their note with you.
Lastly – for those that believe in St. Joseph – and many swear by this – Purchase a St. Joseph Kit for selling your home. St. Joseph the Homeseller, patron saint of the happy home. According to Catholic folklore, a home where a St. Joseph statue is buried on the property will sell quickly and be blessed. Whether the house goes for the asking price, of course, is left to a higher authority. You can find the prayer on line if you are interested in trusting St. Joseph with the sale of your property.
You can sell your home in 21 days regardless of today’s economy and without being taken advantage of. You can use this system to avoid foreclosure, distressed sales, short-sale transactions, and much more – click here for more information.