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Deciding to Sell a Home (return
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When deciding whether to sell a house or not it is important to understand
the local real estate market. Stansbury Real Estate professionals that can
assist you in determining whether it is currently a Buyers market or
Seller’s market and what that might mean to you.
Also, it is important to understand a few things before making the
decision to sell so that you are not surprised later in the process.
Financial Impact – It costs thousands of dollars to effectively market and
sell your home. Most experts agree that the costs to sell and move can be
approximately 10% of the value of your home by the time you factor in real
estate commissions, closing fees, moving costs, pre-sale repairs, pre-sale
cosmetic fixes, and other related expenses. The less equity you have built
into your home since you purchased it, the more you could be affected when
you attempt to move. Make sure that you speak with a real estate
professional to understand what costs you might incur if you decide to
sell.
Timing – Depending on the market you live in, it may take significant time
to sell your house. If you are in slow market and you have little equity
in your home, you may end up needing to bring cash to closing in order to
cover the deficit. Again, the more equity you have in your home, the
better off you will be.
Tax Consequences – Contact your tax advisor
Hiring a Real Estate Agent (return
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Most Americans agree that when it comes to buying or selling a home, a
transaction of this magnitude requires the guidance of a professional. In
fact, nearly four out of five homebuyers and sellers enlist the help of a
real estate agent and/or broker.
Whether you're buying or selling a home, you'll want to choose a
professional who meets your professional needs and has a personal style
that agrees with your own. Here are some tips for finding a real estate
agent.
Here are some questions that are appropriate to ask when deciding to work
with an agent.
• Do you work full time or part time?
• How long have you been selling homes in this area?
• Are you familiar with the areas I'm considering?
• What percentage of your business comes from referrals and repeat
clients?
• What percentage of your listings sold during the listing period?
• Did they sell close to the asking price?
• On average, how many days do homes stay on the market?
• Will you guide us as we prepare the house to be shown?
• Will we receive a copy of the marketing plan?
• How will you advertise our home? In what publications and when will ads
run?
• Will you employ an Internet marketing program?
• When do you plan to hold open houses? How will you advertise an open
house?
• Do you plan to do anything else to get the word out?
• How often can we expect to be updated, even if there's nothing to
report?
Aim to select someone who is knowledgeable and with whom you feel
comfortable. It almost ensures a productive and mutually rewarding
relationship.
> Find a real estate agent in
Stansbury Park
Getting Ready to Market
Your Home (return
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Once you have decided to market your home for sale and have selected a
real estate professional to assist you, you need to prepare yourself for
an effective and swift marketing campaign.
Disclosures – The State of Utah requires sellers and their agents to
disclose material facts about a property that may affect a buyer’s
decision to purchase. Make sure you understand the Seller Disclosure
Documents and what you will need to disclose to buyers who will consider
purchasing your property.
Repairs – Without making major improvements or spending a lot of money,
take the time and make the effort to make some small repairs that might
cause buyers to overlook your house or to become concerned about it.
Repairing cracks in the wall, repainting worn paint, planting flowers, or
fixing squeaky doors are good examples of repairs to make.
Neutralize the Décor of Your Home
Consider replacing out-of-date carpeting, painting odd-colored rooms,
removing large amounts of family pictures, and otherwise making your home
as neutral as possible. You may also want to have your pet as out-of-sight
as possible and may even consider hiring some cleaning help to ensure that
your home is always as clean and ready to show as possible
Determine a Price of your Home (return
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Despite what you might think that your home is worth, its value is really
determined by what a buyer is willing to pay for it at any given time.
What you finally sell your home for will ultimately be determined by
whether or not you are in a slow or active market, and how quickly you
need to sell your home.
In order to determine a price that will attract buyers, consider the
following.
• Stansbury Real Estate will provide a complete analysis of recently sold
homes that accurately compare to your home in size, condition, features,
and amenities. A CMA will make adjustments compared to other houses to
show what price the market will bear for your home..
• A Stansbury Real Estate agent that has experience in your area can offer
significant guidance and help in determining your house's value. Using a
professional during this time is critical to the success of the entire
process.
Accepting an Offer on your
Home (return
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Depending on market conditions, you may get an offer the day you list, or
you may have to wait to get one.
Here are a few tips to remember once you get an offer.
• Take Your Time. Don't get in such a rush or panic that you settle for
getting the offer terms by fax or phone. Make sure you sit down with your
agent so that you understand the terms and what the offer really says.
• Determine what your bottom dollar is and never share it with any one.
Compare each offer to that amount and realize that your bottom price may
change as you become more familiar with the market.
• Don't take any offer personally. Your house is just one house that is on
the market. Buyers scour the market for great deals and sometimes present
low-ball offers. Do not take any offer as a personal insult.
• Don't hesitate to counteroffer. Even when you get a low-ball offer or
one that you are unwilling to accept, don't hesitate to counter. Sometimes
buyers will respond positively to a counter because they are encouraged
you are willing to negotiate.
Closing the Sale (return
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After you have come to terms with a buyer you will be working toward a
successful closing. During this period the buyer will be busy conducting
inspections, obtaining and finalizing on financing, and getting ready to
move. Remember that you are responsible to deliver the property to the
buyer in the same condition that it was when they made an offer. Keep in
close contact with your agent to be sure that the buyer(s) meet deadlines
in the REPC and are preparing for closing.
If a buyer discovers something unsatisfactory during an inspection be
ready to work amicably to resolve the problem so that it does not affect
closing. Also, make sure that the title on your home is clean and free
from encroachments that may affect your ability to sell the property.
Most importantly, stick close and communicate with your Stansbury Real
Estate agent and be sure that you understand the process and what is going
on at all times.
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