Well, if it’s time to sell your home, have we got ANSWERS for you! In the next few moments, we will answer your burning questions about who, what, how, why about selling your home in this frequently asked question article.
From the Beginning
How much needs to be done to my house before putting it on the market?
Many people get caught up here, worried that everything must be perfect, new, and spotless. This is not always the case. Talk with your realtor to understand what could, should, and would need to be done before listing in your market. But remember, if a buyer wants everything perfect, they would be building a new construction home.
How much is my house worth?
This is a great, and important question! Again, a realtor does this for a living. But, in order to be prepared even before you meet with a realtor, looking at homes, in your area, similar size and year built, that have recently sold will help give you an idea or target for going into your first meeting.
When is the best time to sell my house?
Typically, spring! Buyers are able to get out and look at properties and spring/summer is an easier time for a move. April, May, June is when you will see homes go onto the market so be prepared if this year is your year and get in touch with a realtor ahead of time.
What is the difference between a list price and sale price?
List price is the price the home is currently listed at. The sale price is the price the home is sold at.
Should I price my home higher to leave room for negotiations?
This is a question asked a lot! In a financial mind, that makes sense… but a well priced home will sell quickly and will sell for (hopefully) very close to the listing price. There is no need to over price the home for negotiations, today’s buyers are very well educated on fair pricing and market value.
How much commission do you charge?
Ah, the important part, money! Commission is negotiable, period! Don’t let a realtor tell you differently. With that being said, please keep in mind that the saying “you get what you pay for” is very applicable in real estate. If a realtor offers lower commission, you are no longer their top priority in negotiations, advertisements of your sale and closing the deal. Choosing a realtor strictly on a lower commission price is one of the biggest mistakes home sellers make.
What happens if I’m not happy and want to cancel the contract?
Obviously, the plan is to sell a home quickly and for top dollar, but that’s not always the case. Every state and contract is different, and if you decide to cancel the contract you could be responsible for paying any expenses incurred by the realtor or brokerage. Just be very careful in reading the contract before signing.
How should I respond to significantly low offers?
We think the worst decision to make when a low ball offer comes in, is to not respond. These offers can sometimes turn into a really successful sale of a home. So consider each offer, and remember that this is a business decision, not an emotional one! (Even though we know that can be really hard!)
Are there repairs that are mandated by a buyer or bank?
Yes, there definitely are these things. These are great questions because people can sometimes forget this. If a buyer is getting a mortgage through a bank, an appraiser will come to the home and assess the home for potential safety hazards and concerns. The buyer will declare a dollar amount that the seller is responsible for to cover bank required repairs.
What are some common closing expenses?
For home sellers, typically they cover the abstract and title search, instrument survey, real estate commissions, and transfer taxes (also known as revenue stamps).
Should we include appliances in the sell or leave that negotiable?
A lot of times the appliances bought for one home will not look natural or match a new home, but the decision is ultimately up to the seller. Keep in mind that appliances are considered personal property so do not add much value.
Should I be present during tours and to present my home?
The most simple answer to these types of questions is NO! This can make potential buyers feel pressured and uncomfortable to talk and ask questions freely with their realtor which is not what you want to make the sale! After giving the cleaned and organized home one last check over, leave just before they arrive and come back once you’re sure they’ve left.
Thank you for reading this post, and if you are ready to sell your home, call your trusted, dedicated partners at Colorado Real Estate LLC and Susanna at (719)321-0800. Easy peasy!