Sell Your Home
Getting the Most for Your Home
The idea of selling your home can be overwhelming. And for good reason, a home is a significant investment with many emotions attached to it. Whether you're moving because of a career change, downsizing for retirement, or in need of more space to accommodate a growing family, selling a home is a significant endeavor.
In Santa Clara County an average of 12,544 single-family homes are sold each year. While every transaction is unique, homeowners all have one thing in common, the desire to obtain the maximum price for their home with the least amount of headaches.
Today, making this desire a reality is more difficult than it was 10 years ago. Over the last decade home selling has increased in complexity with new environmental concerns, new seller disclosure statements and an increased number of forms and agreements.
To minimize headaches, serious homeowners depend on professional real estate agents. According to the National Association of Realtors, more than 70 percent of homes are sold through agent communication. Professional realtors bring the market to your home allowing you to get the maximum price for your property.
When to Sell Your Home More on Selling Your Home
The best time to sell your home is when a need or desire to sell exists. Home values increase and decrease because of market demand not time of year. Your real estate agent will have up to the minute market statistics on the current real estate demand.
Pricing Your Home Request an Analysis of Your Home's Value
Your home will ultimately sell for the price a buyer believes it is worth. A professional real estate agent will be able to provide you with a comparative market analysis of what similar homes in your market are selling for. They will also be able to share with you the current market dynamics and demand trends. The most important thing to remember is to price your home to compete with the market. An overpriced home risks missing the peak period of buyer activity, which typically occurs within the first two to three weeks of a home going on the market. Avoid having your home become "stale" on the market and price it competitively from the start.
Maximize Your Home's Value
Do you want to sell your home? Do you need to sell your home? Do you have a specific dollar amount you must get out of your home? These are important questions to ask yourself and discuss with your agent. Your motivation to sell can affect the value of your home by influencing the negotiating process.
When you are ready to sell, take a look at your home through the eyes of a buyer. It's important to assess your home's perceived value. Buyers determine value by looking at the price of your home compared to other similar homes that have sold recently or are currently listed for sale. Your real estate agent's goal will be to maximize the value of your home by making it as appealing as possible to buyers.
Make sure your property is at least consistent with the neighborhood and competitive with the market. A professional agent will help you with this process. All mechanical systems and appliances should be in good working condition. Your agent will help you determine if cosmetic improvements such as painting and landscaping would help your home show better. Your agent will also help to determine the return on investment other home improvement projects may have.
Maximize Interior and Curb Appeal More on Preparing Your Property
There are many items that can be done to increase your home's appeal to buyers.
As a general rule of thumb, think of maximizing cleanliness and spaciousness. When you work with a professional agent these items are reviewed and discussed in detail. Below is a sampling of suggestions.
- Give every room a thorough cleaning and remove all clutter.
- Remove excess furnishings to create a more spacious look.
- Minimize home decorations.
- Empty closets, cabinets and countertops of unnecessary items and arrange for show.
- Have windows and screens professionally cleaned.
- Purchase new bathroom towels for use during showings only.
- Make sure all light bulbs work.
- Fix leaky faucets.
- Give your front door a fresh coat of paint; make your front door area welcoming.
- Purchase new doormats.
- Clean out garage, rent a storage unit if necessary.
- Remove excess vehicles and RVs from property.
- Check and replace any missing shingles on the roof.
- Clean and align gutters.
- Check all outside areas for peeling paint, loose siding and cracks in walkways, driveways, and patios.
- Spruce up landscaping.
The first impression your home makes to a potential buyer will be the most important. Be sure to work with a professional agent to maximize your home's appeal and value.
Finding Qualified Motivated Buyers
Professional real estate agents use many techniques to market a home and find qualified motivated buyers. My philosophy on marketing is to take advantage of all forms of advertising but concentrate most on active marketing, which means getting on the phone and promoting your home to my extensive personal and professional network. To achieve maximum exposure of your home I use a variety of the following marketing techniques:
- A "For Sale" sign in front of your home.
- Lock Box access for the broker community.
- Posting to Internet sites including the Multiple Listing Service with photographs and a Virtual Tour.
- Promotion of your home to the broker community.
- Promotion of your home to my personal and professional network.
- Email notifications to prospective buyers and to the broker community.
- Property brochures.
- Print advertising.
- Open Houses.
As part of my commitment to you, I guarantee I will facilitate the right marketing needed to achieve maximum exposure and attention for your home.
Escrow, Contingencies, Closing Title, Escrow and Moving
Once a buyer has made an offer on your home and both you and the buyer have accepted the purchase contract, escrow is opened. Escrow is an arrangement with a disinterested third party to hold documents and valuables in trust until all agreed upon conditions are fulfilled.
Conditions of escrow can include deposits of required documents, deposits of funds required, approvals of inspections, and removal of contingencies as well as many other items. Time is of the essence in escrow. A professional real estate agent will make sure you and the other party to the transaction are meeting necessary deadlines.
Contingencies are items that must happen in order for the purchase to be made. Examples of contingencies are approval of agreed upon repairs, inspections ordered by the buyer, loan approval, and sale of the buyer's current home.
Your role during escrow will depend on the escrow instructions. Be sure to read all escrow instructions carefully and discuss any questions or concerns with your escrow officer.
Upon completion of all terms and conditions, escrow is closed with the transfer of property and money to the respective parties.
Your agent should be assisting you throughout this entire process, answering any questions you may have and ensuring you get through it with success.
