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Now that you have
learned about our service pledge, marketing plan
and given us the proper information for us to
send you a market analysis of your home, take a
look at some tips that will make your home sell
faster and at a higher price.
Pricing Strategies
Review
a list of all the homes which have sold within
the past 3 months, along with the homes on the
market (your competition), and homes now in
escrow. Compare your home to the others, and be
honest with yourself! If you're in a weak
market, active and pending sales will be more
important to you than closings, which reflect
sales activity from 3-5 months back. Be careful
you don't limit your research to homes sales in
a limited price range. The only way to make an
intelligent decision is to examine what all
comparable homes in your market are selling for,
not just a subset of the homes.
There are three
main pricing strategies – pricing your home
above, at, or below its market value.
Priced above market
value
Sellers like to price their home high, thinking
that someone just might pay it. That's unlikely
– buyers shopping for a home know exactly what
the market is like, and won't be fooled into
paying more than it's worth.
Priced at market value
Always a good strategy - that's what your home
is worth!
Priced below market
value
This can be an excellent strategy as long as you
give instructions that you won't review any
offers until after the home has been on the
market for at least a week. Buyers like, and
recognize bargains. Pricing a home low can help
set up an "auction" mentality where several
buyers bid for your home, and frequently bid up
the price.
Have the documents ready
You will need to
have a copy of your Warranty Deed as well as a
copy of your current owner's title policy.
Having these documents handy will expedite the
title transfer process and save you a few
hundred dollars in fees. |
Make Your Home Sparkle
Try to see your home through a buyer's eyes.
Walk across the street and take a careful look
at your house. Make a detailed list of the small
things which make a big difference in your
home's appearance. Trim the yard and shrubs,
patch the concrete, re-glaze the windows, and
touch up the paint.
How you live in a
home, and how you prepare it for sale, are two
different things. Eliminate clutter – the more
"things" you have on counters and shelves, the
smaller your home looks. Put kitchenware such as
blenders and serving spoons out of sight. Store
cosmetics in a basket under the sink. Have a
yard sale to generate extra cash and make your
move easier. Clean the house. Fix leaky faucets
and scrub away sink stains. Paint dingy rooms.
Make the floors and windows sparkle. Replace
worn window coverings with inexpensive mini
blinds or drapes. Try to eliminate offensive pet
or food odors.
Inspection Reports
Anticipate what buyers need and give it to them
– on your terms! Buyers want to know what shape
the house is in – even when they purchase homes
in their current condition (as-is). Obtain a
complete set of reports from General
Contractors, Roofers, and Pest Control
Inspectors before you accept an offer. You'll
know how much work your home needs, and have the
time to bid the job for the best price and
terms.
We like to work
with companies which only do inspections, and
not the repair work. They'll tell you about how
much the work should cost – you then send the
report to several licensed contractors for
actual competitive bids.
Home Information
Make sure you have a home information book for
buyers to
examine. This book should include a property
flyer, copies of all inspection reports,
purchase loan programs (with different down
payments and interest rates), a plot map, and
other relevant facts.
Existing Loans
Find out if your loan is assumable. Read your
loan documents
yourself, rather than relying on what the lender
tells you. The only thing that matters is what
the note and deed of trust say. Be prepared to
provide information regarding your existing loan
to the title agent arranging your closing. They
will need your loan number, lender name, contact
information and more.
Contract Clauses
Make sure that you have the right to review and
approve the cost of any repair work the buyer
requests. Sellers frequently sign "blank checks"
by agreeing to pay for all termite and roof
repairs without first knowing what the costs
will be. |