8. Accept an offer: There are several things to consider when accepting an offer:
a. Price: All offers may not be what you want, they maybe down right insulting, however try not to give an emotional response. This is time to be realistic and objective and examine the offer. Look at whether an independent appraisal was done, maybe an broker’s market analysis done. How long has your home been on the market? How many offers have you received, and what kind of market are you in? Never miss an opportunity to negotiate.
b. Look at the condition of your home and the inspection report: It is ok for the buyer to have an inspection. This information will allow you and the buyer will know the condition of the property to be purchased. This information is then used to determine what is to be repaired, upgraded, or changed and used as a negotiation tool on a binding contract that is acceptable to all parties.
c. Financing Issues: If the contract is contingent on a buyer's ability to obtain an acceptable loan, does the clause spell out what actions are required by the buyer? Each buyer’s situation is different. Don’t panic, get the details, YOUR REALTY will be very instrumental with this, and from there you will make an informed decision.
d. Response Time: You will usually get 24-48 hours to respond to a to a contract offer. If this is not enough time to consider an offer, counter offer for more time and give a reason. This includes if you have multiple offers, owners out of town, etc. Just remember to be forthright and respectful to the allotted time given.
e. Sale of buyers home: You may have an offer which is contingent on the sale of the buyer’s home. Should you take it? There are a few things to look at first; in this situation you are linking the sale of your home to the sale of theirs. You will be in fact taking your property off the market until the buyer sells theirs. If things do not go as planned, you could be right back where you started some weeks later. However, if you think this situation is the best you can do under the circumstances, there are safeguards to consider; seek the advice of a broker who is familiar with the market in the area where the buyers home is located, assure yourself that the home is salable and price competitively. Get the buyer’s marketing plan and have it as an addendum to the contract the spells out exactly what will happen and when, and lastly, you could ask for a non- refundable amount (in lieu of earnest money) , which you will retain if the buyers home is not sold within a certain period of time.
f. Settlement date and occupancy: Most homes are delivered to the buyer at closing. However if you have any issues that may arise, again be forthright and respectful giving detailed information to the buyers in advance. Parties should be able to cooperate to come up with a solution.
9. Home inspections and appraisals: At this point you should know the results of the appraisal and inspections. If there are any issues you will know at this point and anything that needs to be done should be spelled out in the contract and accepted by all parties.
10. Moving: Make sure that you have packed and moved before the closing date (with the exception of what was agreed to be left behind), all contract items have been satisfied and the property is clean for the buyers move-in. If there are any issues about moving before the closing, contact the buyers through your agent immediately.
11. Closing: By this time, all issues should be satisfied per the contract. You should have received the good faith estimate( HUD-1) and know what you should be bring to the table for closing costs, prepaids, etc. Make sure you also bring all keys , remotes, manuals, ongoing contracts, and home insurance information if you are providing on to the buyers.
1. Decide if you're ready: Be realistic, what is your reason for moving, renting and ready to own is it more space, downsizing, or relocation; conduct a thorough assessment of your finances, how much do you want to spend per month on your mortgage to live comfortable; what are your needs first, then your wants; consider if you have to sell before you buy, etc. The objective is to be very clear about your intensions to sell your property and the path you need to take will become more clear
2. Choose a Realtor: We at YOUR REALTY pride ourselves in providing tailored service to each and every With our knowledge or real estate and the local market we believe that we are the clear choice to market your property.
3. Get a value analysis: Your next step is to get a CMA (comparative market analysis) to determine the value of your home as compared to others within the same area and specifications as yours. With the changing market and with our assistance this will help you determine the market value range for your home.
4. Set a price: Once the range is known, it is time to set the price. You will be able to determine a price that you will be comfortable with, while keeping it within the local market range.
5. Prepare to sell: There are several different things to consider when preparing your home. First impressions mean everything and the slightest little thing can sway a buyers opinion toward the negative.
a. Your home must have curb appeal. Trim all shrubs, hedges, trees, and mow the lawn. Weed lawn and garden. Seed worn patches on your lawn it needed. Rake up dead leaves and pick up limbs. Repair, repaint, or replace the mailbox and fences. Pick up all toys, trash, and tools. Remove any non-working vehicles.
b. Repaint, repair, touch up or replace siding.Check around windows and doors to make sure caulking and weather stripping is intact. Put on a fresh coat of paint or pressure wash if paint is intact. Replace ant worn doormat. Replace house numbers if necessary. Add potted plants and wash windows.
c. Freshen up the paint on the inside of your home. Make sure your entry looks inviting and home looks inviting Make sure that appliances are in working order and replace older appliances that may not match. Check and repair plumbing and electrical systems. Replace worn carpets and vinyl flooring. Replace any broken lighting and plumbing fixtures. Check all caulk in kitchen, baths, and windows, replace if necessary. Make sure you have proper lighting throughout your home.
d. Clear gutters and downspouts of debris and repair as needed. Make sure you maintain your chimney, flue is clean, chimney is not leaking, and fireplace in working order. Check your roof is in proper repair, replace if necessary.
These are just a few suggestions of what you can do to make sure your home represents the love that you have put into it throughout the years. You may do more or less depending on the condition of your home. The overall sentiment is to make your home give a first impression that will resonate with the potential buyers.
6. Market your home: Our goal at Your Realty is to showcase your property in media venues that expose it to the greatest number of potential buyers.
7. Prepare a sellers disclosure: In this phase it incumbent upon you to be truthful about the condition of your home. Any infraction can cost you a sale or could have legal consequences.
Your Realty Company, LLC, is a residential and commercial real estate brokerage, serving Alabama and Tennessee. Your Realty Company is an Equal Opportunity Employer and supports the Fair Housing Act.
Your Realty Company, LLC
P. O. Box 9096
Montgomery, AL 36108
ALABAMA - GEORGIA - TENNESSEE