Selling Your Home

Selling your home or property on your own can be a tedious task.  Here is a checklist for those who might want to offer their property "For Sale By Owner":

The real estate commission earned by a REALTOR on the sale of your property can amount to a lot of money. And we know that you'll agree it's tempting to try to save that commission by selling your property yourself. So, if you do decide to market your own property, we invite you to consider the following steps that you must take in order to save the real estate commission.

STEP ONE

Conduct your own mini walk-through inspection. Make notes of all items that need repair or improvement. Your check list might include:

• Fresh, clean paint throughout.
• Clean windows and window coverings throughout.
• Well-manicured lawn and yard.
• Plumbing and all appliances in working order.
• A well-organized, clean garage.
• All sealants (window, tub, shower, sink, etc.) in good condition.
• Roof and gutters in good condition; no repair needed.

Make all necessary repairs and improvements before you begin to advertise your property.

STEP TWO

Deal with the buyer(s) as though you are an impartial third party. Remain calm and refrain from any emotional outburst that might spoil a sale.

STEP THREE

Carefully research information regarding the prices and terms of sales in today's real estate market. Investigate recent sale prices for property similar to yours in your immediate area. Then establish a realistic price for your property based on that information.

STEP FOUR

Meet with local lenders and determine financing alternatives for your prospective buyers.

STEP FIVE

Determine which newspapers and homes magazines, etc., will best advertise your property. Call them for rates and deadlines.

STEP SIX

Establish an advertising budget.

STEP SEVEN

Prepare a professional, attention getting advertisement that will attract the right buyers to your property. Place your ad in the newspaper(s).

STEP EIGHT

Prepare a plan to reach those out-of-town buyers who account for a major portion of today's home purchasers.

STEP NINE

Purchase an eye-catching and weatherproof yard sign; install it in the front of your property

STEP TEN

Purchase special "open house" signs and install them in paths that lead from main roads or thoroughfares, through the neighborhood, and to the property. Put these signs out each time you hold an open house (and be sure to take them down after each open house).

STEP ELEVEN

Prepare a "feature/benefit" fact sheet outlining specific features of your home and the corresponding benefits to prospective purchasers.

STEP TWELVE

Schedule and conduct open house "weekdays" as well as open house weekends. Make your property more inviting by placing freshly cut flowers in several rooms. You might burn scented candles in the living room, kitchen and baths. The aroma of freshly baked bread or cookies also adds to the ambiance of your property.

STEP THIRTEEN

Be available at all times so that you can walk through the property with prospective buyers to answer their questions and offer information about local schools, parks, transportation, shopping, churches, etc.

STEP FOURTEEN

Learn how to separate the "lookers" from qualified buyers. Ask for names and phone numbers and be sure to follow up with telephone calls.

STEP FIFTEEN

Be prepared to negotiate for the legal sale of real property such as:

• Deposit Receipt & Offer To Purchase
• Buyer's Cost Sheet
• Seller's Disclosure Form (In our increasingly litigious society, it is imperative that all known defects be disclosed to the buyer(s).

STEP SIXTEEEN

Obtain all forms necessary by law.  Some forms are required by law whether you are using a realtor or not.  Make sure you are protected.

STEP SEVENTEEN

Determine the type(s) of financing that you are willing to consider such as:

• FHA
• VA
• Seller Carryback First Loan
• Conventional Loan With Seller Carryback Second Loan
• "Wrap Around" Loan

STEP EIGHTEEN

Negotiate with the buyer(s) all final terms of the sale including price, financing, inspections, date of dosing, date of possession and other pertinent considerations.

STEP NINETEEN

Plan a final walk through with the buyer(s) before the settlement process is complete in order to resolve any dispute. Have a witness present.

STEP TWENTY

While you are marketing your current property, locate and negotiate to purchase your next home. Attempt to schedule both transactions so that they close simultaneously. In this way, you and the buyer are able to move at the same time.

If you think a Realtor's assistance would serve your best interests, please feel free to contact us or request a FREE Seller's Listing Package.