SELLER'S CORNER
Your reasons for selling could be that your home is too small or too big. Maybe a change of neighborhoods. You are ready to upgrade, or it is for financial reasons. Other reasons may be a new job, moving closer to family, or you want a fixer-upper to flip. Different phases of our life require a different home. Our professionals are here to help you.
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Getting Ready to Sell
No matter how you go about selling your home, there’s always some level of forethought and preparation involved. After all, your home is often your largest financial asset, so preparing to sell requires a thoughtful timeline and due diligence.
If you’re serious about selling, it’s best to get a jump on planning. Six months should give you enough time to consider the process and complete your preliminary research. Here are the must-do tasks when you’re six months out.
Assess property condition
Understanding the condition of your home will help you match it to comparable properties in your area. Plus, it gives you the opportunity to fix known issues before listing. Here’s an example. If your basement flooded recently, you may have to disclose that to buyers at some point in the sale process, depending on disclosure laws in your state. It might be worth fixing it now so you don’t have to disclose.
If you’re unsure of what needs fixing in your home, get a pre-listing home inspection. It allows you to discover potential issues and address them, instead of the buyer finding them and calling off the deal.
Address repairs
Do you have repair projects you’ve been putting off? Now is the time to cross them off the to-do list. Spend a weekend fixing the leaky faucet, repairing the broken fence or patching holes.
Declutter and donate
Starting the decluttering process now will save you from the last-minute scramble of getting rid of stuff right before listing. Donate or purge anything you no longer need. You might even consider renting temporary storage space to set aside things you won’t need until after you’ve moved.
Since it’s early on, you don’t have to get rid of everything just yet. Simply prioritize and sort what you want to keep, store, toss or donate. You can even get some boxes and packing materials to start packing up items you won’t need before you move, like seasonal items.
Get paperwork in order
When it comes time to sell, you’ll need copies of permits for past renovation work, home warranty documentation, land surveys, tax bills and utility bills. Assemble these in advance so you don’t have to go digging around right as you’re preparing to list.
One of the most important pieces of information you’ll need is your mortgage payoff amount. While the final amount will change a bit by the time you’re ready to close, getting an estimated payoff amount — including remaining loan balance, applicable interest and prorated property taxes — can help you determine how much you’ll profit when you sell.
Areas especially vulnerable to attacks of opening and examining are:
- Kitchen
Check and make sure cabinets are empty or near empty so that they look spacious. - Closets
Can be cluttered easily get rid of anything in closet that takes away from having an open look. - Furniture Clutter
No big furniture in the room - Storage Areas
You may need to rent something untill your home sells to reduce clutter here. Better yet do you really need that clutter.
Ceilings, walls and painting
Painting your home a month before listing is the perfect time — the walls will still look freshly painted when your home goes on the market, and you’ve already done some of the packing and moving, so you won’t scratch or damage newly painted walls.
Painting a home’s interior is one of the most common pre-listing tasks. According to the report, 35% of sellers paint the interior before selling. When painting to sell, it’s best to choose a light neutral tone like beige or taupe.
Do a deep Clean
Have your carpets professionally cleaned. And in addition to your regular weekly cleaning, you should clean windows and screens, disinfect bathrooms and polish kitchen appliances.
Don’t forget — you’ll need to clean regularly the whole time your home is on the market, so this isn’t a one-time task. Don’t pack cleaning products in boxes yet, but make sure you can easily tuck them away after you’ve used them each time.
Odor Control
For those who smoke, you might want to minimize smoking indoors while trying to sell your home. You also could purchase an ozone spray that helps to remove odors without creating a masking odor.
Pets create odors that you may have become used to, but are immediately noticeable to those with more finely tuned olfactory senses. If you are a cat owner, be sure to empty the kitty litter box on a daily basis. There also are products that you can sprinkle in a layer below the kitty litter that helps to control odor. For those with dogs, keep the dog outdoors as much as possible. You might also try sprinkling carpet freshener on the carpet on a periodic basis.
Create curb appeal
The exterior of your home is the first thing buyers see, both online in listing photos and when they see your home in person. Poor curb appeal can even cause a potential buyer to decide it’s not worth coming inside.
Given the high stakes, it’s no wonder that 28% of sellers landscape before listing their homes for sale. Improving curb appeal can be as easy as planting some flowers, edging the lawn, painting the front door, changing outdated hardware or light fixtures, and adding accent lighting.
Important Information
If you are unable to attend the closing, please call our office Immediately. This will provide us with the time we need to ensure all the paperwork arrangements are in order.
Review and make sure that all payoffs on any outstanding liens are forwarded to us also.
Your house should always be available for a potential buyer to see, even though it occasionally may be inconvenient for you. Your agent will probably suggest a lock box placed in a convenient location that will make it easy for other agents to show your home. Most agents will call and give you at least a couple of hours notice before showing your property.
Appeal to buyers’ sense of sight before they step inside
1. Greet buyers with simple plants that bring your front steps to life
A few well-placed planters go a long way toward welcoming buyers right up to your front door.
Bright flowers are beautiful, but you don’t have to overwhelm your porch with them, especially if they’ll wilt without a lot of care. Instead, go for easy-to-grow plants that will look beautiful for showing after showing.
- Geraniums: Wordelman recommends geraniums because they’re colorful, bloom big, and can withstand changing conditions. Try red geraniums in a simple terra cotta pot.
- Snapdragons: Snaps offer the bright and bold look of other flowers but flourish in most conditions. Plant these in a grey ceramic or fiberglass planter.
2. Mow your lawn like a pro
From a buyer’s perspective, landscaping is one of the most appealing exterior upgrades.
A well-manicured lawn is important, but what if you go the extra step to create that stadium-quality checkerboard pattern in your grass?
It’s as easy as mowing back and forth in straight lines parallel to your street or driveway. When you finish your entire lawn, turn your mower 90 degrees and do the same thing. If you want to get creative, try the same thing at a diagonal.
3. Hide cords out of sight
We all have dozens of devices, each with their own charging cords. These can be an eyesore if they’re hanging all over your home.
Collect all chargers that don’t need to be plugged in and stash them away in a drawer with a compartment organizer for each cord.
For TV or computer chargers that stay plugged in, bind multiple cords together with cable twisters and tuck the bunch behind your desk, shelves, or entertainment stand.
4. Stash “extras” in bins
Buy stackable bins of various sizes and colors, like the clip-top boxes from Sterilite, to hold assorted personal items that don’t have a home—knick-knacks, toys, that random single sock—and store behind long coats in your hallway closet.
Assign each family member a color (for the top or entire bin) so it’s easier to sort out odds and ends later, or use brightly-colored duct tape to differentiate between clear bins.
5. Put away personal items
You want your home to be welcoming, but not to the point that your personal photos and trophies overwhelm the space.
Wordelman errs on the side of less is more, which means that the cleaner the house and the simpler the decor, the more buyers can really experience your home. You don’t need to add pillows and throws or hang extra art—in fact, pare down shelves, and pack mementos into the stackable bins.
6. Use mildly-scented cleaning products
One of the most important steps you can take before a showing is to clean, clean, clean! According to the Consumer Reports National Research Center, cleaning and decluttering could up your asking price by 3-5%.
7. Take out the trash
Empty every trash can in your home, including kitchen, bathrooms, and kids’ bedrooms.
8. Accent with natural aromas, if any at all
Plug-in air fresheners are too overpowering, says Wordelman—but here’s a trick: pick a gentle scent like clean linens, then unplug it a few hours before buyers arrive.
9. Address pet odors head on
Selling your home with pets takes a bit of extra work. You’ll need to deodorize, put away any pet products, and have a plan for your pet during showings.
- Store crates, beds, and litter boxes in your laundry room or closets, and gather toys into a designated bin or basket out of site.
- Steam clean your carpets to remove pet hair and accident odors.
10. Play soft music in the background
Background music can set the mood for your showing and may even subtly sway buyers’ opinions: Research from the Journal of Retailing suggests that music can influence purchasing choices.
11. Make use of wind chimes and water features
Water features and wind chimes help lessen the impact of street noise, especially when buyers are exploring your front and back yards.
These decorations work best when the listener is close by—so they aren’t meant to drown out loud sounds if you’re inside.
12. Treat buyers with bottles of water and simple snacks
- Place bottled water in your refrigerator with a visible note to agents and buyers on where to find them. If your fridge is cluttered, Wordelman says it’s best to leave bottles at room temperature on the counter—buyers will still appreciate it. If you stick to water, you also minimize the risk of spills damaging your furniture or floors.
A valid real estate contract must be in writing and be freely offered by the buyer and accepted by the seller. All parties to the contract must be legally competent to do business. Money or other valuable consideration needs to be exchanged for title to the property.
Keep in mind that if things go wrong, the buyer could require you to sell your home to him/her or pay damages. Be familiar with the terms of any contract you give to a would-be purchaser.
Consider the contract as a whole. Is it slanted in favor of the buyer? If so, consult an attorney about making changes. Analyze the document as a series of paragraphs or clauses, each written to benefit one party or the other.
Key Elements of the Sales Contract:
Price and terms
If a low offer comes your way, remain cool until you’ve examined the terms. Nothing evokes a more emotional response than a low bid. Be realistic and objective because many properties don’t bring full price. Don’t use price alone as a reason not to counter or negotiate. A first offer may reveal what’s most important – price or terms – to this particular buyer, giving you the key to begin bargaining.
Condition of home and inspection
The purchaser should have your home inspected for soundness of construction and state of repair. Include all mandatory and voluntary disclosure statements concerning the property’s condition, such as known defects in the contract.
Be careful what you guarantee. You cannot be sure the roof won’t leak, the heating system won’t go out or any other number of such assurances. Once the property is sold, you are no longer responsible for it.
Response deadline
You’ll be asked to respond to an offer within a specified timeframe. Try to get as long a response time as possible. Other offers may come up and you’ll want to buy time to review them and perhaps use one offer to increase another.
Settlement date and occupancy
If you have another home under contract, ask for a settlement date that will enable you to take your sales profits to the next closing. Be realistic; the buyer of your home probably will need at least 30 to 50 days to arrange financing and close.
Finalizing
Everything in the offering contract is negotiable. When everyone has agreed to the terms, initialed the changes and signed the contracts, you’ve got an agreement binding on all parties. All that remains is removing contingency clauses, arranging financing and clearing title.
As the seller, you have relatively little to do at this point. Avoid common glitches by keeping abreast of progress on both sides.
Be aware if the buyer is having trouble getting a loan on the terms specified in the contract. If he/she is turned down, it could jeopardize the whole deal and your house could be put back on the market. A day or so before closing, make sure all the necessary papers and documents have been gathered and are in the hands of the right parties.
Things can go wrong. Documents can be misplaced, delayed or lost. However, common last-minute difficulties can be avoided.
Parties who should be present at closing need to be informed of any change in the date, time or place. They should be reminded a week before closing and again the day before.
Everyone named on the deed under which you hold title must sign the new deed by which you grant title.
Know when and how you will be paid. Don’t expect to walk away from the settlement table with a check in hand.
If you are buying another property, consider having both closings at the same office scheduled back-to-back. That way, the timing of the disbursement is not a problem. You sign a paper authorizing the title company or attorney to assign the funds from sale to purchase.
The papers you’ll need at the closing:
A copy of the sales contract and documentation showing that any contingencies have been removed or satisfied.
All documents needed to complete the transfer of title. This may include certificate of title, deed, correcting affidavits, quitclaim deeds, survey and title insurance policy.
Prorations for ongoing expenses such as insurance premiums, property taxes, accrued interest on assumed loans and utilities (if not shut off between owners).
Receipts showing payment of the latest water, electric and gas bills.
A certificate from your lender indicating the mortgage balance and the date to which interest has been prepaid.