Seller Tips -
Selling Faster and for Top Dollar
Think about when you want to move: Decide if you want or need to move quickly and know your time frame.
Do not disclose your reason for moving:
Disclosing this to a prospective buyer or their agent could put you at a disadvantage in the negotiation process. If asked, a simple answer may be: “My housing needs have changed.”
Make a good first impression:
The appearance of your home is key to the success of selling your home. Do not rush to put it on the market until you cleaned, painted, landscaped, made repairs or anything that you need to have your home looking its best. If finances allow, you may also want to consider some simple upgrades that could make your home stand out more.
A clean, uncluttered home sells:
A dirty home knocks thousands of dollars off your profit. It’s true, a sizable chunk of money can be lost for not putting in a little elbow grease. Perhaps one of the greatest payoffs to home selling will be the time you spend cleaning and de-cluttering your home.
Choose the right Realtor:
All Realtors are not the same! First off – you want a full-time career Realtor, one that is earning their livelihood through real estate sales; not a secondary earner or someone who works in real estate to flip properties or as a hobby.
Get a second opinion:
Ask your Realtor what he or she would recommend you do to get your home in tip-top shape for marketing.
Reduce Clutter:
A buyer needs to visualize themselves in your current space. Eliminating toys, photos and highly personalized items and clutter will allow prospective buyers to visualize their own furniture and belongings in your home.
Consider hiring a stager:
Stagers can give you a decorator’s view and make some small and inexpensive changes & suggestions that can make a world of difference to people viewing your home.
Disclose – Disclose – Disclose:
Yes, disclose everything that is wrong or potentially defective in and on your property. You are required by law (California Civil code 1102) to complete a “Real Estate Transfer Disclosure Statement” form and make it available to anyone wishing to purchase your property. You may also complete this form once you have an accepted offer and provide it along with the rest of the required disclosures.
Detach Yourself:
This is a business transaction and should be treated as one and don’t let emotion rule when you’re negotiating. Look at your home as a product for sale. If you become emotional you are less effective in negotiations.
Know the Buyer:
Learn as much as you can about the motivations of the buyer. The more you know about their situation and preferences the better negotiating position you will be in.
Don’t buy your next home until you sell your current home: Unless of course, you don’t need to sell first, to buy your new replacement home because you have enough funds to cover your new home purchase and to carry both your current and new mortgage payments until you sell your home.
Don’t buy your next home until you sell your current home: Unless of course, you don’t need to sell first, to buy your new replacement home because you have enough funds to cover your new home purchase and to carry both your current and new mortgage payments until you sell your home.
Try to stay in your home until you sell:
If possible try not to market an empty house. Statistics have shown that empty houses typically take longer to sell and are less appealing to a buyer. You may also hire a stager to help you arrange a small amount of loaned furniture on a short-term basis if needed.
Low-ball offers – Don’t take it personally:
Sometimes an initial offer can be perceived as insultingly low. Don’t take it personally and look at the total package – not just the price. Look at all the terms such as escrow period; does buyer have to sell his/her home before they can buy your home? Also look at other contingencies such as: inspections, financing, appraisal, etc. and come back with a counter offer that you are comfortable with.
Make sure your buyer can buy:
Before you entertain any offer, you should be sure that your buyer is qualified to purchase your home. Any offer should be submitted with at least a pre-qualification but preferably a pre-approval letter from a reputable mortgage company or bank, along with the proof of funds and credit FICO scores.
Dot your I’s and cross your T’s:
Make sure the Purchase Agreement is completely signed and initialed where it should be (fully executed). Be sure that all the terms and conditions of the contract are understood and agreed to. The last thing you want to do is take your home off the market to have it fall through because a contingency wasn’t met or agreed upon.
Personal Property:
Have a clear distinction between what is personal property (property that you will take with you) and what will be included in the sale. Items remaining with the house should be clearly stated in the Purchase Agreement or an Addendum. Be sure to complete the Inclusions/Exclusions Rider provided by your Realtor.
Tip: If you are including any major appliances or electronics, for example – you should add a note in the agreement that these items will be included “without warranty”.
Terms and conditions of the Purchase Agreement:
Once you have a fully executed Purchase Agreement – it is best for you and your buyer to stick to the terms as to simplify the transaction. This doesn’t mean that your terms and conditions are set in stone. Anything can be changed, added or modified per written agreement (Addendum) between you and your buyer and proving a copy of the Addendum to escrow. Perhaps your buyer just needs a few extra days for the loan contingency removal or you may need a few extra days to move out of your home. If all parties agree to the changes – you’re good to go and continue with the transaction!
