Steps To Sell Your House
Selling your home? Here are some tips you should know
“Nobody decides to sell a home overnight. Getting the best price for your home, with the least amount of stress, takes time and planning.”
Review Your Finances And Budget
What is the right decision when you sell a house? Truthfully, there really isn’t a right answer, or one size fits all answer to meet all situations. It will vary across different situations and you have to do a little bit of thinking and planning to determine what makes sense for you.
Consider transaction costs
It’s important to run some numbers to find out it and consider these costs:
• Real estate sales commissions
• Fees paid at closing: In looking at my last settlement statement we paid some
• Title charges
• Government recording and transfer charges
• Any additional settlement charges
• Pay off for existing mortgage
• Home repairs if this is included in the sales contract. Or, perhaps you need to make repairs before putting your house on the market.
• Pre-sale preparations such as landscaping, painting, etc.
Evaluate what is your equity
Terry Sanchez Realty Group would help you to the real price of your house. Home equity is an asset. It is the portion of your property value that you truly own. You might “own” your home, but if you borrowed money to buy the property, your lender also has an interest in the property until you pay off the loan. So how do you increase your equity? Loan repayment, price appreciation, more details, contact us and we let you know more about your total net worth. Your home equity is your interest in the property.
Important to check all your documentation
Before to sell a house check all this documentation like title, survey, mortgage and insurance:
• There are a few of the documents you’re likely to sign at closing too:
• Final closing instructions
• The HUD-1 settlement statement
• Certificate of title
• The deed
• Loan payoff
• Mechanic’s liens
• Bill of sale
• Statement of closing costs
• Statement of information
• Read everything, redo all math. Speak up before signing a document if you find an error or if you question that you really promised to give your buyer credit for something, or credit for the amount listed.
Review your house ’s problems and Fix them
As you prepare to sell your home, you’ll want to make sure that it is in its top shape to attract buyers. Terry Sanchez Realty Group can give you tips on repairing your home prior to selling, which will increase its value. There’s a difference between minor repairs and a full refurbishment.
It’s important to contract a professional for cosmetic problems, functional repairs and upgrades you can’t fix.
investigate the current market and set a price
In real estate, the “99” strategy is nearly always employed. For instance, if a seller prices their home at $499K instead of $500K, the $1K they lose will cover some of the buyer’s closing costs, but in the buyer’s mind, they are paying $500K. Here are some pricing strategies for sellers:
• Appeal to the “herd mentality”
• Price it to be found in real estate searches
• Don’t get "creative" with your asking price.
• Work out a pricing contingency plan before you put your home on the market
• Pricing is an ongoing discussion
Declutter Room by Room anything that distracts buyers
It is important to declutter your house so it appears to have lots of storage space. Potential buyers want to feel like they can easily fit all their belongings and be well-organized. There are several key areas in your house where you will want to focus your time:
• Kitchen.
• Bathrooms.
• Laundry Room.
• Clothes Closets.
• Office.
• Kid’s Stuff.
list your property with extensive internet marketing
When you’re ready to take the next step toward selling your home, we’re here to help. Terry Sanchez Realty Group will put the property in extensively marketed on the internet through numerous internet posting sites, including Realtor.com, Zillow.com, Trulia.com. We understand the importance of Social Networking. Not only is this a great tool to let buyers know about a new listing, it is also a way to market to the area’s top producing agents! Social Media has become one of the latest marketing trends with the ability to connect and communicate with others in a fast and efficient manner.
Negotiate the right deal
The old saying is that in real estate, everything is negotiable. As the housing market continues to improve, home values are rising which is an encouraging sign for homeowners who are looking to sell. Potential buyers may find fewer properties selling at rock-bottom prices but there are still plenty of real estate investment deals to be had. Here is some tips for negotiating the best deal on your investment:
• Do Your Research.
• Evaluate Your Position.
• Don’t Get Emotional.
• Be Willing to Compromise.
Cooperate with profeSsional involucrate in transaction
Real estate professionals are consumers too, and they buy and sell property on their own behalf. But when they’re doing so, it can create a conflict of interest and they need to disclose their direct or indirect interest in any purchase or sale as soon as possible and definitely before any offer is made.
Prepare paperwork
Before your first showing, start lining up the paperwork you’ll need. Remember that different states have different regulations covering residential real estate transactions.
• Survey that shows property boundaries.
• Receipts and warranties for appliances, finishes and upgrades.
• Plans and permits for all additions and upgrades.
• Certificates of occupancy, which signal compliance with municipal building codes.
• Loan documents, including first mortgage, second mortgage, and home equity line of credit.
• Latest utility bills.
• Latest property tax bill.
• Title.
• Survey.
• Construction and occupation permits.
• Proof of homeowner’s insurance.
• Utility bills.
• Homeowners’ association covenants and agreements.
• Specialty documents, such as proof of landmark status.
• Floor plan or blueprints, if available.
Closing the transaction
The closing is an important day for you as a home seller. You will transfer the property to the buyer, fully pay off any mortgages, and receive your sales proceeds. It may seem like the closing process is a lot of work, but perhaps the worst part is the waiting. Most of the time, you’ll just be sitting on your hands, waiting for someone else involved in the transaction to come through. So find something enjoyable to occupy your time and distract you while you wait, and feel secure in the knowledge that you’ve done your research and know how to make your closing process go smoothly.