Considering selling your home. 13 facts you should know. Know home selling process. What happens once listed, offer accepted and close of escrow. This knowledge puts you ahead of the game. Selling your home is a mental and physical challenge. Preparing home for sale and then moving. Not to mention the emotional strain of leaving current homes memories behind. Home sellers educated in the home selling process are prepared for the challenge. Home sellers have questions about the home selling process. There are 13 facts to know when selling a home. Marina Del Rey Home Seller 13 Facts You Should Know.
Fact 1 – Hire a Local Ethical Real Estate Agent
The home sellers goal is to sell their home. They want the maximum profit from the sale. Get a local professional Realtor that knows your neighborhood, Realtor that knows the real estate market. Will base your home value on market data and real estate trends. The realtor that will give you a home value based on market data not on what you want to hear. Honest Realtor wants to sell your home. Not trying to sell the homeowner based on incorrect information.
Fact 2 – Home Staging
Sellers before placing your home on market stage home. Home staging reaps homeowners maximum profit. Home staging DIY or call a professional. When staging a home it does not matter if a single family home, condominium or loft.. Where would movies and plays be if they were not professionally staged? Entertainment companies invest millions in staging to reap the highest return on their investment. Your home is your treasured investment. Invest the time and money in staging your home to reap the highest sales price. DIY Home Staging Ideas.
Fact 3 – Seller Disclose Any Known Defects
Be honest with your Realtor about any know defects your home may have. It is best to address these items upfront. Do not think they will not be known by buyers. Buyers hire professional home inspectors. Determine course of action. Would you like to repair items or let them addresses in buyers inspection?
Fact 4 - House Across the Street.
Homeowners and neighborhoods will always tell you about the house across the street. This house sold for such and such. Condominium owners will tell you about a condominium in a complex that sold for such and such. Homeowners will call for listing appointment. They will tell the Realtor what house across the street or a condo sold for a month ago. They expect to get the same or higher sales price. What they forget to tell you is that house across the street has 500 square feet more living space. Or that the condo is the top floor with ocean views. Additionally, the home or condo has updated kitchens and bathrooms. Buyers will not pay the same price for a home with the lesser square footage. Nor will they pay the same for a kitchen with vinyl counter tops, old cabinetry, and appliances. Marina Del Rey Home Seller 13 Facts You Should Know. You cannot be uneducated when selling your home. You need to trust current market comparables. There is a price comparison based on home condition. Listen to the advice of Real Estate professional. There are hard truths that sellers should consider when selling their home.
Fact 5 – Home Values Not Based on Living Space Alone
Home value is much more than square footage. It is about renovations, updates. Or no renovations or updates. It is about the homes location, the homes functionally. It is about the home condition. The condition is home in standard, renovated or remodeled condition? Is your home a fixer?
Do not let a Realtor give a home value just based on the home square footage alone. 8 Hard Truths Sellers Should Know. Selling home values combination of square footage, location, functionally and condition.
Fact 6 – Determine Your Home’s Selling Price
Your Realtor will have a thorough market analysis of your home. Data includes current sales within 1/2 mile radius. Comparables should have similar living space, bedrooms, and bathrooms. Included in the analysis is home’s condition. Is your home in standard, remodeled or renovated condition. Your home asking price should be competitive and realistic. Pitfalls of Overprice Listing.
Marina Del Rey Home Seller 13 Facts You Should Know
Fact 7 – Preparing for Home Showings
Remember the keep your home clean and clutter-free. Be prepared to show your home 24/7. The first impression is a lasting impression. Remember curb appeal. The exterior will be the first thing a prospective buyer will see. Condominium owners the exterior is the responsibility of the HOA’s association. Home sellers interior should be clean and clutter-free. Always show a bright home. In the daytime let the sun inside. Evening showing turn the lights on in each room. You want the buyer to envision themselves living in your home. Not everyone will love your home. Do not be disappointed. We are only looking for one well-qualified buyer that loves your home.
Fact 8 – Not Everyone Will Love Your Home
You and your family love your home. You have gone through great pains designing the exterior and interior. Keep in mind that everybody is different. Diversity is what makes the world go around. Buyers will like one aspect of your home and not others. Prospective buyers may like your living room space but the bedrooms maybe too small. Some buyers may like your decorations and other will not. The location of your home or condominium may not be appealing. The neighborhood walkability may not be suitable for some buyers. Marina Del Rey real estate gives home buyers a wealth of options. Marina Del Rey is a West Los Angeles seaside community. Marina Del Rey offers condominiums and single-family homes. Luxury properties are inland and seaside. There is little not to love in Marina Del Rey, CA.♥♥♥♥
You’re looking for only ONE Buyer. They think your home is priced well. Loves the neighborhood and amenities. A buyer the envisions themselves living in your home. Most importantly are a qualified buyer willing to purchase your home. Marina Del Rey Home Seller 13 Facts You Should Know.
Fact 9 – Reviewing Buyer’s Purchase Offer
You have an offer on your home. The buyer has supplied a Pre-Qualification from a lender. A PRE-QUALIFIED MORTGAGE LETTER IS NOT ACCEPTABLE. Hard truths sellers should know when selling home. Require the buyer has PRE-APPROVAL from direct lender. For the buyer to be Pre-Approved must supply the lender with two years the 1040s, W2s. 3 -6 months bank statements and credit report. PRE-APPROVAL will give sellers best assurance that buyer can qualify for a secure mortgage. Preferred Pre-Approval from direct lender. When I receive a Pre-Approval I always verify approval with the lender. Home sellers do not waste your time if the home buyer will only supply a Pre-Qualification.
Escrow: Once the Purchase Agreement is signed by both the seller and buyer escrow is opened.
Fact 10 – Home Sellers Be Prepared for Buyer’s Home Inspection
Once the buyer’s offer is accepted they will hire professional home inspectors. Home inspectors will thoroughly inspect your home. Including all items. Examples: roof, foundation, electrical, plumbing, appliances and etc. The inspection will detail small and major items that need repair or replacement. Buyers can request credit/repair/replacement based on the inspection report. This may result in negotiations between the buyer and seller.
Fact 11 – Buyers Final Walk Through
Once, buyer, have formal mortgage loan approval and all contingencies have been removed buyer will do a final walk through. This is not a home inspection. They are only walking through to verify home is in the same condition, as when last seen. This is one reason why it is so important to keeping your home in great condition.
Fact 12 – Sellers Have You Made Preparations to Move?
Sellers where are you moving? Pre-planned where you are moving once your home is sold. Should be considered before you list your home. Generally, when the purchase contract is signed you have 30 to 45 days to move. Maybe selling to purchase another home. But need the profits from existing home for purchase. If this is the case may have to move with a family member or rent until you purchase your next home.
Fact 13 – Closing Date
This is the sellers and buyers big day. Escrow will notify all parties of closing date and time. Sellers proceeds are forward to the seller via escrow. Generally, sellers funds are wired to seller’s designated bank account. Important that seller leaves vacant home in top condition. Keys, remote controls, codes, manuals, invoices and etc will be given to buyer on the closing date. Marina Del Rey Home Seller 13 Facts.
How To Get Home Ready For Sale
Marina Del Rey Home Seller 13 Facts You Should Know. Selling your home. 13 home seller fact you should know. Most important is hiring a local professional Realtor. A Realtor that knows your neighborhood, market data, and trends. Based on current data asking price should be reasonable. Never overprice your home. Prepare your home for sale. DIY staging or hire a professional stager. Have your home available for showings 24/7. Never accept an offer if the buyer only supplying a pre-qualify mortgage letter. A pre-approved mortgage is only acceptable. Escrow periods generally are from 30 to 45 days. Sellers should pre-plan moving prior to listing their home. Congratulation your escrow is closed.
Marina Del Rey Home Seller 13 Facts You Should Know