|
Real Estate Paperwork
Using a broker/agent
Setting a price When to sell
Making your home attractive to buyers
Marketing plan
Paperwork
Money and financing
Real estate involves a lot of
paperwork
Banks and title search companies need documentation to justify a loan,
so
have as many of the following available as you can:
Deed -- you may have restrictions or easements on your property that
affect the value.
Many people never read their deeds and find
surprises when they go to sell.
Survey -- this helps buyers know just what they're buying.
Sometimes the survey will have the location of septic and well, and that's
important.
Tax parcel map --
it shows the location and size of nearby properties
Certificate of occupancy --
very important if you made any additions to
the
home
since you've owned it. Even decks, garages, and larger sheds need a C/O
If the home is under construction, you need building permits to be in
order.
Maintenance records and receipts --
especially for furnaces
and septic
systems.
Location, depth, and type of well, if you have one
Property tax bill records and utility bills
buyers need to know how much they'll have
to pay |
|
Real estate brokers
Using a broker/agent
Setting a price When to sell
Making your home attractive to buyers
Marketing plan
Paperwork
Money and financing
Selling
your home is a big task
and there's much more
involved than one might think.
That's why most people use the services of a real estate broker.
Remember, a broker almost always gets a better price for your property
and usually sells it faster as well.
Qualities to look for in an agent
Honesty, energy,
diligence, communication, follow through
knowledge of the area, knowledge of homes and property, and....
creativity -- it often makes all the
difference
Real estate is very much
a people - oriented business.
A great deal of emotions are involved in many real estate transactions.
In fact, sometimes a deal falls through just because of some irrational
behavior. You need to work with someone who can work
well with people.
A personable agent or broker can keep the deal on track.
What a broker can do for you:
FIND YOU A GOOD SELECTION OF
BUYERS:
A broker may already
have several buyers waiting for a property just like yours.
Agents and brokers constantly advertise to find buyers, plus, they are in
frequent
contact with other brokers.
In the Hudson Valley,
many of the buyer prospects are coming from out of town.
sometimes very far away. A sign on your property, "For Sale by
Owner"
won't get noticed at all by out-of-town buyers.
SCREEN THE BUYER PROSPECTS
This is very important. Unless a
prospect can actually go through
with a transaction,
they will waste everyone's time.
GET YOU A GOOD PRICE
Are you a good negotiator? If
not, you should let a professional help you.
People who try to buy directly from an
owner often expect a lower price.
They
figure, if the owner isn't paying a commission he should charge less.
Very often that's exactly what happens. The seller has no leverage.
In fact, some of the shrewdest buyers eagerly go after "for sale by
owners"
because they know they can get a good deal.
HANDLE THE PAPERWORK
Real estate
transactions involve tons of paperwork. If it's not done
properly,
it can cause serious problems or at the very least delay the sale.
Real Estate professionals know what paperwork needs to be done, when, and
why.
|
|
SETTING A PRICE FOR YOUR HOME
Using a broker/agent
Setting a price When to sell
Making your home attractive to buyers
Marketing plan
Paperwork
Money and financing
Setting an accurate price is the most important and also the most
challenging
thing
you can do.
If you set it to high, it will not get many viewings,
and if you set it too low, you will of course lose money.
This is the number one reason
you should have a professional
help you sell.
Brokers and agents constantly study the market.
Unlike most products
each piece of real estate is entirely unique.
There's no property exactly like it. This means you cannot arbitrarily set a price.
Just because a neighbor
sold HIS house for X dollars has very little to do
with YOUR property.
There's always a
difference, even if the homes
appear to be alike. For example, it may be a different TIME,
the interest rates might be
different,
the economy may have changed,
or the neighborhood may have changed. And of course, the BUYER
is always different.
Different buyers have
different motives
and different finances.
The selling price of a
home
also has very little to do with the original purchase price.
It could be
much higher or significantly lower,
depending on a number of
factors.
What realtors do is make a
calculated and educated guess
as to what a qualified buyer will be willing to pay for your home.
HOW FAST DO YOU WANT TO SELL ?
It makes a big
difference in the price you ask.
Keep in mind
that the cost of a long sales process can be as much as
the extra
you might make by having a higher price.
WHEN TO SELL --
TIMING IS IMPORTANT
Real estate sales can
be somewhat seasonal, especially in areas that have winter.
There are generally more buyers out looking in the spring and fall. The
business cycle
at the time is more important than the season.
Interest rates go up
and down
and selling before they go up is better.
When interest rates are up prices tend to fall.
Cash buyers like to take advantage of high rates because they usually can
pay less.
In winter, those who are out buying are usually serious buyers, or are
forced to buy
for one reason or another. Some investors like to shop in
winter because of that. |
|
APPEARANCE
Using a broker/agent
Setting a price When to sell
Making your home attractive to buyers
Marketing plan
Paperwork
Money and financing
MAKE YOUR HOME ATTRACTIVE
We all grow accustomed to
our homes, the way they look, how they're decorated,
and so on. Buyers have a very
different view of a house, however, and sellers
need to realize that. A buyer is trying to
imagine their own furniture and decor
in your home,
so anything you can do to help them
will make your home sell faster.
Get rid of clutter, and do
everything possible to make your home
attractive. Otherwise, a well-qualified buyer may just drive on by
without ever seeing your home.
Aerial photos
are unique, and definitely help sell property |
