How to Sell Your Home An Easy Guide for What to Expect When Selling your Home Presented to you by your friends and neighbors at ihousesandiego.com
Why Sell? • 1) Home is too small. • 2) Upgrade. • 3) Fix purchase error. • 4) Job transfer. • 5) Personal Relationships. • Change of marital status • Home is too big now, losing a family member • The home holds bad memories, making a fresh start desirable. • 6) Neighborhood changes.
Why Sell? (cont.) • 7) Empty nest. • 8) See family more/less often. • 9) Retirement. • 10) Health problems. • 11) Deferred maintenance. • 12) Home improvement perfection. • 13) Cash in equity. • 14) Lifestyle change.
Do I Need a Real Estate Agent? • 93 percent of home sales are still done with some type of real estate agent. • Education and experience • Saves time and energy • Gauging offers - serious buyers • Understanding the Market • Negotiation • Professional contacts. • Sale price - Comparative Market Analysis • "Caravans" • Multiple Listing Service (MLS), sdrehomes.com
How to Find a Real Estate Agent • ihousesandiego.com - We have some of the best Realtors, brokers on our staff filled with years of real estate, mortgage and legal background • We are bound by a code of ethics, personal and professional • Pay attention to the listings that he has on his webpage that are in your area • One of our Agents is likely to have a property in your area • Interview the agent to see if this is a person you want working for you.
Questions to ask • How many homes have you sold in the last year? • How will you market my home? Direct mail? Flyers? Online? • Are you familiar with my neighborhood? • How are you different from other agents? • Can you provide references? • Will you be able to help me find professionals and services I need? • What guarantees are offered, and what are your policies with cancelled agreements? • How much time will you be able to spend working on my home sale?
Time to Sell Your House • Clean it top to bottom • Price it right • The Open House Myth - 3 percent of houses are sold through the open house method. • Does your home need painting? • moldings, shutters or trim need to be replaced? Landscaping? Carpets? • Inspect it and get a history on the home prepared - like carfax.
Value your property: • The Comparative Market Analysis (“CMA”) • Market Trends • How fast do you want it sold? • When can you move out? • How long can you afford to stay in the property? • Short sale
Marketing Your Home • Get a 24 hour hotline • A website with a rider on your home • Pander to "looky loos" to inquire without wasting your time. • Have a sign • Get on MLS • Get on Trulia, Redfin, etc. • Direct marketing • Realtor • Outside the box thinking
How to Choose an Offer • Your agent should be able to weed out buyers who can't afford your home • While your agent is required by law to disclose all offers to you, insist once again that he or she does so. • Think about your own finances. You probably have an ideal price in mind, but, ultimately, at what price are you willing to settle? Can you stay in the the house? What sort of repairs should you expect?
Components in a home sale • A title company examines the title deed - examines marketability of title, clouds on title • Title insurance • Lawyer - Purchase agreement and contract fairness. Your lawyer will also help to guarantee that this contract is fair and contains no hidden or deceptive clauses. • Escrow company - will get all the buyers and seller’s paperwork togetherFor more information on selling a home and related information, check out the links on the following page.
Contract Stages • Offer • Counteroffer • Acceptance • Contingencies • Pending • Closing
Contract Stage 1 - Contingent • Once you accept the offer you move into contingent stage • Inspect the property • Appraise the property • Ask for repairs, if need be • You have to proved disclosures • Once you finish with this you will remove contingencies and then you move into pending status
Contract Stage 2 - Pending • Buyer completes financing paperwork • Seller prepares to move, don’t be too positive, these things bust all the time • Escrow officer gathers all final information • Close date is set • Move out date is set • All paperwork is signed and faxed to bank • Financing number is received, money changes hands • Pending status turns into close • Seller to move out, transfer property, keys
ihousesandiego.com • We are a full service brokerage • Buyer’s/Seller’s agent • Escrow in house • Title officer • Lawyer in house • Tax advisor • MLS, signs, 50 different websites, rider with website attached. • Director marketing • Address 150 Realtors a week • 5% listing