Studies have shown that people who choose to hire a real estate agent to represent the sale of their home generally obtain a higher price than those who sell their homes themselves.
At Desert North Realty we understand that your home is not just “sticks and bricks” but it is so much more than that. We know that selling your home can be an emotional, exciting and rewarding journey. That is why we are available to walk you through the process while offering objectivity when looking out for your best interest and making sure you don’t miss a crucial step.
Take a minute to look through the rest of the Selling Your Home section of the website and, as always, please don’t hesitate to contact us with any questions that you may have.
Steps To Sell A Home
Not sure what to expect when selling a home? The information below will give you an idea of what to expect and following these simple steps will save you money. Your Desert North Realty agent will help you along the way to ensure that you maximize your profit.
Fix Up Your Home
- First impressions are HUGE! Contracts can be lost before the buyers even get out of their car. It is important to make sure your home has curb appeal.
- Keep the grass mowed
- Hedges and trees trimmed
- Weeds pulled
- Touch up the interior and exterior paint.
- Clean the carpet, if necessary, consider replacing.
- If you have excess furniture or belongings, it is wise to pack them up and move them to storage.
List Your Home
- Have the home ready for pictures to be taken by cleaning the home and removing any clutter.
- A Desert North Realty agent will prepare all of the listing paperwork for you to sign.
- Complete the Seller Property Disclosure Statement to the best of your knowledge. This is a form provided by your agent that will ask all about your home.
- Review the MLS listing after your agent completes it for accuracy.
Showing Your Home
- It is very important to step outside or make yourself scarce during the showing. A lot of folks feel uncomfortable looking through your bedroom while you are standing right behind them.
- Keep the home picked up and free of any odors.
- Open the blinds or window coverings and let the natural light into the home.
- If you have dogs, take them for walk while the potential buyers are in your home
- All offers will be a little different as there are many elements involved.
- Some important things to consider when reviewing offers:
- Earnest Money
- Type of financing
- Close of escrow date
- Seller Concessions
- Don’t be afraid to counter an offer with more favorable terms.
- Accept the offer that works best for you!
- A buyer will order an inspection and an appraisal. Do your best to allow quick access to property for both of those professionals.
- After the inspection, the buyer may ask for some repairs to be done. At this point, your agent will help you negotiate those repairs.
- Since you accepted a contract, you will know when the close of escrow date is so this is the time for you to start preparing to move.
- A couple of days before the close of escrow, the buyer will do their final walk-thru to ensure the repairs were completed and the home is still in the same shape as when they made their offer.
- Closing for the seller is a pretty easy process.
- You will go to the title company and sign all of your final paperwork.
- Set your utilities to be turned off.
- Leave additional keys, garage door openers, mailbox keys, names and numbers of professionals that service your pool or yard, or any other information that the buyer may need in a place they can easily locate.
Find Your Home Value
Many factors need to be considered when determining the maximum value of your home. As always, location is a heavily weighted factor. However, there are many other elements that help boost the market value such as square footage, room count, condition, amenities and overall desirability. For a detailed valuation of your home, fill out the information below and we will provide you a free Comparative Market Analysis.
HOME VALUE TOOL
SIX THINGS TO AVOID WHEN SELLING YOUR HOME
There are a lot of things to do when preparing to sell your home. However, these six common mistakes are commonly made by sellers. Avoid these things and you will be ahead of the rest.
Avoid putting the home on the market before its ready.
This often happens when the seller gets impatient or procrastinates and gets themselves up against a moving deadline. When this happens the home comes on the market without being touched up, bad carpet, clutter around the house, yard in disarray and is not up to its full potential. Marketing a home is just like anything else in the sense that presentation is everything so it is vital to get this work done before marketing the property.
Avoid over improving the home for the neighborhood.
When you complete an addition or upgrade, make sure it is comparable to what is in the neighborhood. Sales price is determined by what is selling in the neighborhood and if you are the biggest most upgraded home on the market then it is very likely you will not get out of the house what you put in.
Avoid hiding problems or not disclosing them. When filling out your Seller Property Disclosure Statement (SPDS), fill it out completely and honestly as possible. Accidentally or intentionally covering up or not disclosing a defect or issue with the home can lead to a seller being sued later down the road. Just because a home has an issue, doesn’t mean we can’t sell it.
Avoid hiring an agent based on non-business factors.
Make sure you are hiring a professional with a proven track record. It might be nice to hand your largest asset over to your nephew who just got his license or a friend who does real estate part time but make sure they have a good mentor to keep your deal from going south.
Avoid pricing the home on what you want to net.
This is a pricing strategy that fails more times than not. A seller can control the asking price but not the sales price. The sales price is determined by the black and white reality of the market. If a seller feels like they must have a certain price that the market will not bear then it would be wise to wait until the market improves to their price point.
Avoid getting emotionally involved in the sale of the home.
This is one on the tougher challenges a home owner faces. Once you decide to sell your home, it is no longer a home but a commodity and needs to be prepared as such. A seller has to understand that memories and sentimental value does not translate to market value. Buyers are going to come into the home, go through the things they like and don’t like, and a seller can not get offended or upset by the buyer’s opinion. When emotion comes into play; sellers usually lose money
QUESTIONS ABOUT SHORT SELLING
A short sale is an agreement between a seller and their lender(s) to accept a sale price that is less than the amount they owe on their property.
Can anybody short sale their property?
Yes, if they qualify. It is common practice for the lender(s) to require the homeowner to prove they have suffered a financial hardship that prevents them from being able to meet their obligation. Most lenders have a loss mitigation department that evaluates the short sale request for approval. The process typically includes a review of your specific situation and an independent valuation of the property by obtaining an appraisal or Broker Price Opinion. You should be prepared to provide the following items:
- Letter of Authorization – If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving them permission to talk with the specific parties about your loan.
- Hardship Letter – This statement of facts describes how you got into a financial bind and makes a plea to the lender to accept less than full payment.
- Proof of Income and Assets – Lenders want to verify your inability to meet your obligation.
- Copies of Bank Statements – If your bank statements reflect unidentified large deposits or withdrawals, you should be prepared to explain these items.
- Purchase & Listing Agreement – The lender will want a copy of both agreements
- Settlement Statement – The lender will require a breakdown of all costs and fees associated with the transaction in order to determine how much you are requesting them to discount the lien(s).
Why would someone consider a short sale?
A short sale is often used as an alternative to foreclosure, which mitigates additional fees and costs to both the lender(s) and homeowner. If you are facing foreclosure, it is far more likely that you will find yourself in a position to buy another home quicker with a short sale on your credit report versus a foreclosure.
Can I get money for completing a short sale?
In a lot of cases, the answer is yes. Depending on the type of short sale an individual will qualify for and the cooperation with the short selling lender it is very possible a lender will offer you as much as $5,000 in a relocation incentive.
Are there risks associated with a short sale?
Yes and we highly recommend you hire an experienced agent for handling your short sale. Aside from the negative impact a short sale may have on your credit report you need to be aware of any potential tax or deficiency issues. You need to obtain up to date information from multiple professionals, including an accountant, an attorney, and a real estate broker.
Why should I hire Desert North Realty to handle my short sale?
The agents at Desert North Realty are educated and trained to handle the nuances of the short sales process. Even though we have closed numerous successful short sales, Desert North Realty continues to educate their agents to keep them up-to-date on all of the new policies and changes in this niche.