The attorneys role in assisting you or your agent in preparing your home for sale:
A number of things are involved in preparing to sell your home. If you are employing a real estate agent, He or she will be able to help you with most of these issues. If you do not already have an agent, your attorney is a good place to start. As a top real estate closing firm we are familiar with many agents, the experienced and the not so experienced agent, we will be happy to make referrals without cost and without charging a referral fee to your agent. Whether buying or selling, selecting the right real estate agent is as important as selecting the right closing real estate lawyer. Obtaining a real estate license requires little more than attending a state prescribed course and passing a state administered test, While this in and of itself is no small feat, it allows thousands of inexperienced agents to open their business every year. Most agents are paid by Real estate brokers by means of splitting commissions. Since splitting commissions cost the broker nothing if the agent has no successful sales, some brokers hire many agents in hopes of finding a few with talented ones. In the mean time Buyers and sellers are treated to inexperienced untrained agents with might be the most important decisions of their lives. Again As your attorney we would be happy to recommend agents who have a good track record with our firm. (some of them have have expressed a desire and intent to publish web pages and articles on this site.
Seller preparation:
As already hinted at selecting the right agent is an important first step. if you do not intend to use an agentthere could be a savings of about 6% andsplitbetween the buyer andseller that could represent about 3% each minus, of course, the cost of selling.
Before starting the marketing procedure you will want to:
- Make any necessary repairs. Selling as is likely to reduce the sales price significantly more than the cost of the repairs would have been. If you are using an agent he or she may be willing to help by making suggesting which repairs should be done and perhaps could even recommend contractors who do quality work at affordable prices.
- B. Determine fair market value. Several methods are available. Some try to do it by just finding out what others have sold for in your neighborhood. If the homes and lots and amenities are very similar and the sales very recent , this may work. A second and preferred method is to get a Market analysis from an experienced Real Estate Agent. If for listing purposes they do not usually charge for these. Finally another method which is just as reliable but more expensive is to get an appraisal.
- Now staging the home: Auto dealers have used cars cleaned and detailed before sale. Home sales should be no different. It is important that your home make it's best showing when you get a prospective buyer. Many of the things you should do are not readily apparent, but there are numerous books available on this subject at the public library or if you are using an agent they should be able to make suggestions which will add to the speed of the sale and increase the offer.
- Marketing Plan: How will you advertise your home for sale? News paper advertising is expensive and yields very little results. There are home sales magazines usually less expensive withalittlebetterresults.Be sure to have the home professionally photographed, rather than using an old photograph you have or allowing thee magazine staff to photograph it. Remember that picture tells the world what your house looks like and even what it might be worth. Realtors use a multiple listing service which exposes your home to all other realtors and thereby accounts for nearly 75% of all sales. Finally there are internet resources, some very expensive ones and some quite inexpensive, Some which produce great results and some which almost never produce results. Some Real estate companies have their own sites as do some agents.. There are even plans for this site to offer free advertisement to agents and sellers who use our closing services.
- Making your home available for potential buyers to preview. you want to make your home as easy as possible for potential buyers to preview. The more buyers that see your home and like it the greater the offer price is likely to be. If you are not using an agent you will want to consider how to make your home available when you are at work. (perhaps a friend or trusted neighbor could show it for you) Using an agent has great advantage at this point of the sale. It is usually better if you are not home when the property is shown because buyers are often afraid or intimidated and do not ask questions which might limit their offers. Agents can also make sure that buyers see and understand things about your home which will increase it desirability and value.
Once a potential buyer is found, an offer can be drafted. Make certain your attorney reviews any contract you sign. Our charge for reviewing contracts is taken off our closing cost and consequently can be free to both buyer and seller if the closing is done here.
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