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Selling Process 

You might at some point consider selling your home, when you are ready too, you have several options. You can choose to work with an real estate agent or you can choose to sell the property yourself. But be prepared for a lot of work! You can sell your property yourself, it can and has been done, of course, but if you don’t have the time and energy to commit to it (or need to sell in a hurry), this option might not be the best option. Most sellers work with an agent because agents have the ability to list your property on the Multiple Listng Services which allows other agents access your property with millions of buyers.

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Always do your homework! Below is a checklist to help walk you through the process:

A. Understand Your Property   

Before you start the process of selling your home review the terms of your current loans. Try to become familiar with facts about your property such as property taxes, zoning, lot size, square footage, etc. 

B. Research Your Market  

You want to understand how much other properties similar to yours selling for in the market? What are the terms of the sales? What property disclosure laws do you need to take into consideration?

C. Set The Price  

Once you understand the specifics about your home and have checked what similar properties in your area are selling for, set a realistic price.

D. Determine financing alternatives.

Contact lenders in your area to determine what the options are available for your prospective buyer.  You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you.

E. Perform a “walk-through” of your property.

Try to look at your home from the perspective of both the prospective buyer and the inspector. Try to get all repairs and update done in advance Here are a few things to consider:

Inside:

  • Does it need a new coat of paint (either because the old paint is obviously cracked or faded, or because of an uncommon choice in color that might turn off prospective buyers)?

  • If a house with a yard, is the lawn and landscaping attractive and well-kept?

  • If it is a condo, you can’t do much about the building, but is the front door (and balcony, if there is one) appealing?

  • Are the windows and doors attractive and in good condition?

  • Are the roof (and the gutters) in good condition?

  • Is the grass nicely cut, are the hedges trimmed, are the leaves swept up? Are all toys put away such as bikes, scooters, etc.?

Outside:

  • Are the interior paints and finishes in good condition (recently updated), or do they need to be freshened up? This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well-kept and inviting.

  • Are the appliances in good working order and of recent vintage?

  • Are the plumbing and electrical systems in good condition? Are they fully functional?

  • Are the carpets or other floor coverings clean and in good condition? Like the paint, are they attractive and well-kept? Floor coverings are worth paying for so that your home makes a good impression.

  • Are the sealants (sink, shower, tub, windows) in good condition?

  • Are all light fixtures working properly, and is there good lighting in each room so that prospective buyers won’t think you’re hiding something?

F. Don’t forget the Internet

If you choose to go with an agent, most agents have their own website, which includes their clients’ listings as well as the entire MLS search.  Your property will most likely be placed on their web site (if they have one) and listed on the full MLS as part of the services you agent will offer you. In addition, you or your agent can market your property on social media as well. Facebook marketplace, instagram, and craigslist is great way to reach ton buyers within your market. 

G. Set up a schedule of open houses

Most agent hold their open house on the weekend, this is not convenient for all buyers but buyer are free on weekend or after work during the evening.  Make sure that you and your agent team up to market the open to attract the most attention to the property.

H. Once you have an offer, it’s time to negotiate

Buyer(s) need to come to an agreement (in writing) regarding the following:

  • Price

  • Inspection contingencies

  • Financing terms

  • Date of closing

  • Date of possession

  • It would be prudent for you to have an attorney review any and all contracts before the deal is finalized

SELLER
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TO SELL YOUR HOME?

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You can entrust your home making decision with Richard and the team at Richm Mgmt. Richard has the insight and knowledge to ensure you make the best home buying decision for you and your family. 

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