Selling Your Home

stock-photo-21500142-financeHome Pricing

How much is your home worth? Pricing a home is part art and part science. It’s a combination marrying analytical statistics to emotional appeal and market movement. You do not want to overprice your home or try to “test the market.” Like Goldilocks and the Three Bears, you want to price it just right.

Marketing and Showing

Effective marketing is more than sticking a sign in the yard. Successful sellers utilize dozens of marketing techniques to draw the largest pool of buyers. When buyers show up on your doorstep, here are tips on how to create a magical experience and encourage the buyer to make a purchase offer.

Negotiation Strategies

Sellers and buyers are often polar opposites. Buyers want to pay as little as possible and sellers want full-price offers. Somewhere in between those two extremes, sellers and buyers find middle ground or the deal doesn’t happen. Here is advice on how to give sellers a clear edge in negotiations.

Financing

In tough markets, buyers ask sellers to help finance properties. Owner financing attracts more buyers, and sellers have a variety of financing instruments to choose from. Sometimes sellers obtain home equity loans to or bridge loans to buy a new home before their existing home sells. Here are articles that cover financing options for a seller.

Home Inspections and Disclosures

Almost every home buyer will get a home inspection before committing to buy your home. You can help the process move more smoothly by preparing for the home inspector and making minor repairs beforehand. No home is perfect, not even new homes; however, buyers may offer less for a home if major defects are discovered.

All About Listing Agreements

If you’re ready to read about listing agreements, it’s likely that you’ve already found a good real estate agent and had a lengthy discussion with this agent and are now ready to think about listing your home for sale.

The common top three listing agreement choices are:

  1. Open Listing;
  2. Exclusive Agency Listing;
  3. Exclusive Right-to-Sell Listing.

Exclusive Right-to-Sell Listing

An exclusive right-to-sell listing is the most commonly utilized instrument. It gives the broker the exclusive right to earn a commission by representing the owner and bringing a buyer, either through another brokerage or directly. The owner pays both the listing and selling broker fees. The owner cannot sell the property herself without paying a commission, unless an exception is noted in the contract.

Short Sales / Foreclosures

Sellers who stop making mortgage payments — and those headed into default who cannot refinance or work out financing alternatives with their lender — have 3 options for sale: sell the home before foreclosure is final, give a deed-in-lieu of foreclosure to the bank or let the bank take the property in foreclosure. Buyers and investors often try to negotiate with the bank on short sales before the home foreclosure is complete, especially if the home is worth less than its mortgage balance.