How to Sell Your Home: Part 2

Read "How to Sell Your Home: Part 1"

So, you've received an offer on your home. What now? Your REALTOR can help you evaluate any offers you have. One concern is the buyer's ability to financially fulfill the contract terms. Your RELATOR can check for the pre-approval letter that should accompany an offer. Also consider the following points:

• How does it compare to asking price?
• Will your home appraise for the contract price?
• How large is the earnest money deposit?
• Have the buyers asked for assistance with closing costs or for you to make repairs or provide home improvement credit?
• Is the requested settlement date appropriate?

If you're not satisfied, you can reject the offer or draft a counteroffer than lists different terms. Be prepared to compromise to some extent. Keep in mind that buyers will likely conduct home inspections,  and be prepared to addess any resulting concerns. Before you close, you'll also want to get your home appraised, if you have not done so already. The buyer and seller must agree on a settlement day. Sellers can enter into a "rent-back"agreement with the buyer if they wish to continue to live in the home after the settlement date by paying rent to the buyer. Finally, title to the home is transferred at closing. Payment is closely examined and distributed by the closing agent and the buyer provides funds to buy the home. For more information on what the seller must pay upon closing, click here. 

Now you can go home, open a bottle of champaign, and cheers to the next page in your life. Oh, and you should probably get packing!!

The Importance of Having a Realtor

With mobile apps and Internet sites such as Realtor.com, it's easy for house hunters to form an idea about what type of home they want and how much they want to spend. But that doesn't mean that Realtors are no longer necessary! Following is a list of reasons why it's critical to have a Realtor when buying, selling or leasing a property.

• Realtors have an up-to-date, high level of knowledge about the real estate market. This is important because real estate transactions are often the biggest investments of one's life.

• Realtors can help determine how much you can afford to spend, as well as how much you should spend.

• Realtors can refer to you to the best qualified lenders. They can also find qualified home inspectors to generate written reports. 

• Realtors have access to exclusive resources, such as the MLS (Multiple Listing Service). This may show available homes that are not openly advertised. For example, Realtors know from the MLS  and from fellow Realtors when new homes are listed before the general public knows.

• Realtors can provide information and evaluation when viewing homes, and can also offer objective input. Realtors are especially helpful for local community information, including utilities, zoning, and school districts. 

• Relators are expert negotiators, working to get you the best possible price. 

• Realtors serve as marketing coordinators and distributors to other agents and networks. They can host marketing campaigns such as open houses.

• More then 50% of real estate sales are cooperative sales, meaning a real estate agent other than yours brings in the buyer. This proves how important it is to take advantage of the connections real estate agents have with one another. 

• Finally, Realtors can guide you through the closing process, helping you understand and work through the legalities and paperwork involved.

Looking for a Realtor? I work with buyers, sellers, and renters. I encourage you to read my client testimonials and contact me!