Deciding to Sell:
So you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.
WHY SHOULD I SELL?
Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? You might think your reasons are obvious, but it would do well to consider the implications of each option for your lifestyle, opportunities, and finances. Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.
WHEN SHOULD I SELL?
You should immediately establish your time frame for selling. If you need to sell quickly, I can speed up the process by giving you a complete market analysis and action plan to obtain all of your goals. If there is no pressing need to sell immediately, we can thoroughly review the current market conditions together and find the most favorable time to sell.
WHAT IS THE STATUS OF THE MARKET?
When you work with me, you can be sure that you will have my knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. I will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. With me, you will know exactly how to price and when to sell your property.
HOW DO I OPTIMIZE MY FINANCES?
Deciding to sell your property demands a serious consideration of your current financial situation and future possibilities. My financial team and I will be able to effectively assess the cumulative impact of these changes, estimate potential proceeds of selling your property, and plan effective tax savings and estate planning strategies. We will ensure that you not only take control of your finances, but use them to their fullest potential.
Select an agent and price:
WHY SHOULD YOU CHOOSE ME?
You may opt to sell your property independently. There are many excellent reasons, however, why you should choose me to assist you in this important undertaking. I will ensure that you maximize your opportunities in the current real estate market. With Sotheby's extensive contact networks that have been developed, I will employ the most effective marketing and advertising strategies for your property and I will guide you through the complicated paperwork involved, from the initial agreement to the final documents and will negotiate the best possible sale price and terms for you.
WHAT TO LOOK FOR IN AN AGENT.
The following are a couple of factors to keep in mind when looking for a listing agent:
- Education. The most important factor in choosing a real estate professional is their education in the real estate industry. I graduated with a B.S. in Marketing from the University of Delaware and have advanced training and education in the real estate industry with a CSP and GREEN designation.
- Experience and expertise. You want an agent who is familiar with your area and with the type of property you intend to sell. Does he or she employ a diverse range of marketing and advertising strategies? How tech-savvy is your agent? How many similar properties has he or she been able to sell in the past?
- Availability and commitment. Your agent should be capable of prompt and decisive action during the course of selling your property. Does your agent make it a point to keep in touch with you constantly? Can your agent easily be contacted in case of emergencies or even for the simplest questions? Is your agent available on the weekends or in the evenings when most buyers are out looking?
- Rapport. Does your agent take the time to listen to your goals and clarify your needs? Can your agent understand your unique situation and be genuinely concerned about the outcome of the process? Your listing agent will be your guide and partner in this crucial decision, so it is important to find one with whom you can get along.
What is your property worth?
Without a professional agent, most independent property sellers tend to overestimate the value of their property. You can avoid this pitfall by consulting with an experienced real estate listing agent who will do a competitive market analysis for you.
Accepting An Offer:
The price is not always right. “The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust me to help you thoroughly evaluate every proposal without compromising your marketing position.
Negotiating the correct way. I take the ethical responsibility of fairly negotiating contractual terms very seriously. It is my job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before deciding on the one to be the most suitable for you – and as your agent, I will guarantee a thorough and objective assessment of each offer to help you make the right choice.
The initial agreement and deposit. An effective agreement is a legal arrangement between a potential purchaser and the property’s seller. Laws vary from state to state, but in order to be a legally, binding agreement, the agreement may require consideration. This consideration (initial and additional deposit) is to be held in the closing agent’s escrow account pending the fulfillment of conditions or contingencies in the effective agreement.
Buying Your Next Home:
Some important tips to keep in mind to streamline the process even further:
- Keep written records of everything. It is extremely useful to transcribe all verbal agreements including counter-offers and addendums, and convert them to written agreements to be signed by both parties. I will assist you in drafting all the paperwork for your sale and make sure that you have copies of everything.
- Stick to the schedule. Now that you have chosen your offer, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process I will keep you constantly updated and keep you on schedule.
Inspections and appraisals. Most buyers will have the property inspected by a licensed property inspectors within the time frame that was agreed upon in the effective contract to purchase. If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.
The closing agent. Either a title company or an attorney will be selected as the closing agent, whose job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.
Contingencies. A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector. Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:
- Obtaining financing and insurance;
- Reviewing all pertinent documents, such as preliminary title reports and disclosure documents;
- Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections.
Depending on the outcome of these inspections, one of two things may happen:
- Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing;
- The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).
How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? This is when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, I guarantee my expertise and total commitment to every customer, no matter what their situation is.
Loan approval and appraisal. It's best to accept buyers who have a lender’s pre-approval, approval letter, or written loan commitment, which is a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.
Now you are ready for settlement and the completion of the sale of your home. Congratulations!
Get In Touch With Me Today!
I would love to speak with you about selling or buying your home.