When you decide to sell your home, please contact us to get started. Give us the opportunity to assist you in every step of the way in this very involved process, with our expertise in real estate industry.
Tips About Selling A Home:
Remodeling Without a Permit
Homeowners need to obtain a building permit before making modifications to their residence. This is a city requirement and it might vary from city to city that which modifications require a permit. To receive a permit, the homeowners are required to file plans and pay fees to the city. These improvements are given a value. If they increase the value of the property, this may result in an increase in property taxes. Inspections are required, and scheduled to approve the work to be done. Some homeowners skip the permit process as it could be very time consuming.If any modification is done without getting the permit but it was required, it could be significantly much more expensive and could not be obtained at an ease when city discovers it. This becomes twice the challenge to obtain this permit than having it before the modification. The city would want to know that if the work was done in accordance with city procedures. If the inspector is unable to determine if the work has been done properly, the homeowner would or might have to open walls or tear up floors etc., so that the inspection could be completed. The issue of not getting the permit where it was required must be disclosed to the potential buyer as well, by the law. This may effect the sale price of the home seller will have to perform the necessary repairs before title can be transferred.If you, the homeowner do not know or want to see if the added additions to the property was done with or without permit(s), (eg. any modifications done by the previous owners before you), this information can be obtained from the local City Permit Department.
Comparative Market AnalysisCMA is real estate shorthand for “Comparative Market Analysis”. A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.The first thing an agent will need to do to provide you with a CMA is to inspect your property. The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for. CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it’s used to see if the intended changes will “over-improve” their property compared to others in the neighborhood
Prepare to Sell Preparing a home for sale is a seller's first major step toward a successful sale. There is a lot you can do to increase the appeal of your property and to create a lasting impact on potential buyers.Below are some suggestions or factors to keep in mind when listing your property for sale:
1. Curb Appeal Walk outside your home's front door and step back from the entrance. Observe your home from a buyer's perspective. Does your home's appearance seem warm and inviting?
Keep your landscape well maintained and addition of some colorful annuals will create an immediate impact on passers-by and potential buyers. Make sure that the lawn is neatly mowed and trim away unsightly branches or bushes, plant or use potted flowers for added beauty. It’s important to make certain that your house number is clearly visible and easy to read. If possible always remove any trash bins from in front of the home and place them out of view. The exterior of the home should be sprayed clean along with the sidewalks and driveways. A freshly painted front door along with a new welcome mat makes a positive first impression on someone who is entering your home.
2. Property Repairs.
Making minor repairs will definitely be worth the effort. Fix leaky faucets, patch holes in walls, replace cracked counter or floor tiles, replace broken light fixtures, and consider painting with neutral colors.
Simple upgrades such as window repairs, polishing the doorknobs, and a fresh coat of paint in the most frequently used rooms will instantly brighten up the property.
A sparkling clean and orderly house leaves a positive impression on the potential buyers. Clean carpets, floors, windows, spotless bathrooms, dust free furniture and fixtures are key to the buyer’s attitude about the home. Eliminate any odors that you can. The exterior of the home should be sprayed clean along with the sidewalks and driveways. A freshly painted front door along with a new welcome mat makes a positive first impression on someone who is entering your home. Keeping the pets confined is certainly a good idea while showing your property to potential buyers. Keeping the blinds open can create a more open look and well lit appearance. Rearranging some furniture or getting rid of clutter may be just what is needed for your home to become more appealing. Accepting an Offer and Negotiation
The higher price does not always means that it is the better offer. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are other various terms and conditions that may influence the final price. Trust your realtor to help you thoroughly evaluate every proposal and counter offers if any.We take the ethical responsibility of fairly negotiating all the contract and term. It is our job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before accepting the one you think is the most suitable for you – and as your agents, we will guarantee a thorough and objective assessment of each offer to help you make the right choice. Inspection and Appraisals The buyer has the right to get various inspections done on your property. These inspections include roof, termite/pest, property boundary survey, pool/spa, well, septic, mold, chimney/fireplace, HVAC, lead based paint etc.
Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.
Most buyers will have the property inspected by a licensed property inspector within the timeframe that was agreed upon in the effective contract to purchase. If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate.
The Closing Agent
A title company will be selected as the closing agent, whose job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will legally certify that your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the closing date.
A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector. The buyer goes over every aspect as provided for by the purchase agreements and/or addendums, before closing the purchase of the property. This includes reviewing all documents, such as disclosures, preliminary title reports, obtaining insurances and financing and inspecting the property as discussed earlier under Inspections and Appraisals.
The contingencies will be removed after all the requirements have been met and closed. Sometimes problems arises at this very last moment for any given reasons but we want to rest assure you that we have the ability and experience to handle them. This is when a professional listing agent can make a real difference in the outcome of the transaction. We have closed many property sales in the past and we are here for you with our expertise and total commitment to each and every client.
Final Walk-Through/ Close of Escrow
The final inspection takes place few the day before, or the day of the closing. The buyer visits the property to make sure that everything is the way as agreed upon by both parties in the contract and addendums.
The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions involved in the process. The buyer and the seller as well as the closing agent will sign this settlement to make it all official. If you are receiving funds from the transaction, you can elect to either have the funds wired electronically to an account at your financial institution, or have a check issued to you at the closing. The seller should arrange to have all property keys and any other important information for the new buyer at the closing, so that the buyer may receive these items at this time or at the time of recording of the Deed.