This blog is a part of a series on selling your home. Click here for The Process for Selling Your House: An Overview.
Establishing an asking price close to market value is critical for effectively selling your home. How do you find what the market value of your home is? Appraiser Before you list your house, you could use an appraiser to find the market value of your house. Most potential buyers will be obtaining a mortgage to purchase a home. The house will need to appraise at or above the contract price. The banks will use an appraiser at this stage to ensure the house appraises out. The drawback of using an appraiser is that it will cost $300-$500 to get the market value. REALTOR® A REALTOR® will often provide a free Comparative Market Analysis (CMA). While preforming a CMA, a Realtor compares the houses for sale and the houses that have recently sold to your house. In this process the Realtor will pull the pertinent information about your house to help compare. This is the best way to get an idea of what your house will sell for at the current market. Asking Price Once you have the market value of your house established, your REALTOR® will help you develop a strategy for listing your house at a price that will best meet your goals within the frame work of the Market Value.
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House sales are still going strong. A late start in the spring, mostly due to winter weather, could be correlated to more sales as we go into fall. Here are some interesting observations for September's sales stats. Click here for August's report
If you are at the beginning stages of selling your home and you don't have a REALTOR®. The first step would be to decide which agent you plan on using. You can do this by interviewing a few agents with the following questions. 1. How much is the house worth? 2. How long will it take to sell the house? 3. How should I prepare my house to sell? 4. What is your fee? 5. What will you be doing for your fee? Keep in mind that the number one complaint from home sellers is that their agent didn't practice good communication. We hear frequently about how agents "put up a sign and were never heard from again." So, pay attention to an agent's responsiveness while you go through the interview process. <<< Back to the overview for selling your home Source: MattiasClymer.com, Harrisonburghousingtoday.com Consult A REALTOR®
The first step in selling your property is discussing your goals with a qualified real estate professional who understands today’s market conditions. Your REALTOR® will be able to help you decide whether now is the best time to sell, if your timeline is achievable and how to establish your asking price. Establish Asking Price It is important that you work with a qualified real estate professional who can help to arrive at a realistic asking price that will attract buyers, meet your goals and appraise so the buyer may obtain a loan. Review Marketing Plan Our associates will customize a marketing plan for your property that uses the latest tools proven to be effective in finding the purchaser. Prepare The Property A property that is properly prepared for the market will attract more prospective purchasers, sell more quickly and for a higher price. Funkhouser Real Estate Group will assist in developing a plan to prepare your property. Communication With Your REALTOR® A clear communication plan with your REALTOR® will allow you to stay abreast of market trends and how they affect the positioning of your property. Contract Negotiations Your REALTOR® will guide you through every step of the contract negotiations. This may include the offer price, financing terms of the buyer, inspection contingencies and other important factors. Property Inspections & Repairs Recently more contracts have fallen victim property inspections. It is important that sellers have an understanding of the property inspection process and are able to navigate these negotiations through the assistance of their REALTOR® Preparing For Settlement Your REALTOR® will assist you in finding an attorney to prepare the new deed on the property and explain the settlement process. This should include a review of the settlement statement. MattiasClymer.com Here are some interesting sales stats for August. Some notable aspects of the data:
After you have ratified your contract and fulfilled the contingencies, it is time to start thinking about your move! Use our checklist to help you get started! For a printable PDF version of this checklist, please click here.
Organization
Schedule A Mover
Insurance
Finances
Utilities Please see our Utilities & Local Services page for local contact information.
Address Change
Source: MattiasClymer.com In my previous blog, we checked out Exclusive Vs. Designated Representation.
Click here for more information. Dual Representation The Seller and Buyer are represented by the same Agent and Firm who assist in facilitating a successful transaction. The Agent is limited in their ability to represent the Seller and Buyer. An Agent may NOT provide the following services in this type of representation:
The Seller is represented exclusively by the same Agent and Firm. The Buyer has no representation in this situation, however the Agent may provide ministerial acts to the Buyer to assist in facilitating a successful transaction. Ministerial acts include:
** A Seller may also be an Unrepresented Party in a transaction when a Buyer has representation. Source: MattiasClymer.com Exclusive Representation The Seller and Buyer are exclusively represented by separate Agents and separate Firms. The Agent and the Firm are solely representing the interests of their respective clients. This representation arrangement is created through a written Exclusive or Non-Exclusive Brokerage Agreement. Designated Representation The Seller and Buyer are exclusively represented by separate Agents within the same Firm. Agents solely represent the interests of their respective clients. This representation arrangement is created through a written Disclosure of Designated Agency or Representation. Check out information on Dual Representation and Unrepresented Party Source: www.MattiasClymer.com
First of all, you will need to create an account on my website: MattiasClymer.com On the top right corner click on the button that says register. A window will pop up. Enter in the necessary items to make an account. After you have successfully made an account, go to the home page. Enter in your search criteria and hit search. You should now be looking at a list of all the properties that meet your criteria. Now, you should see the save search button on the top right. Click on the Save Search Button and a prompt will pop up asking you to write in any notes. Write a note that will help you remember the criteria of the saved search. You should now see a message that say's, "Your search has been saved." Exit out of the message window. You should now be looking at the Search results. Click on the my account link at the top right portion of the screen. A new pop up window will give you a menu of options. Click on the saved searches option. This will allow you to manage your saved searches including customizing your alerts.
That is it! You are now set to receive property alerts! This should help you stay one step ahead in the housing market. You may now be wondering what houses in the that neighborhood are selling for. Sure, you can scour the newspaper, and the internet for answers, but why not ask a local expert? A Realtor has been keeping track of housing prices for just that reason and can provide you with a market report. The best part about this service, is that a buyers agent is almost always free to the buyer! Sellers Do you want to know what your house is worth? An amazing part of home ownership is that, overtime, your house usually goes up in value. Like any type of investment, Real Estate has it's ups-and-downs. However, historically, the market has risen despite the ups-and-downs. So, now you've owned your home for a 5 years; or 10; or 30. Do you remember how much you bought it for? Are you curious how much the house is worth today? There are a number of ways to figure out your houses value. One popular one is using the website Zillow.com. The provide a zestimate which sometimes looks about right, sometimes looks great, and sometimes is disappointing. The reason for this is because in the small print, Zillow claims that 25% of houses sell for 20% higher or 20% lower than the zestimate. The best way to find out what your house will sell for is by contacting a real estate agent and asking for a Comparative Market Analysis (CMA). While preforming a CMA, a Realtor compares the houses for sale and the houses that have recently sold to your house. In this process the Realtor will pull the pertinent information about your house to help compare. This is the best way to get an idea of what your house will sell for at the current market. Sources: Rockingam-Harrisonburg MLS; Zillow.com
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