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Sell Your Home


Selling A Home

Keep in mind the following considerations to help the whole process go more smoothly.

Time Becomes Money
It's a good idea to place your home on the market as far in advance as possible of purchasing a new one.

Keep in mind that when people move, sell and buy, there usually is a domino effect. Closing and moving dates have to be coordinated, and the more firmly everyone commits to a window of dates and sticks to them, the better for all involved. Put all agreements about dates in writing, and protect yourself by negotiating financial penalties for failure to comply.
Check Your Curb Appeal
A home that's visually appealing and in good condition will attract potential buyers driving down the street. Use this checklist to view your property through an outsider's eyes.

  • Are the lawn and shrubs well maintained?
  • Are there cracks in the foundation or walkways?
  • Does the driveway need resurfacing?
  • Are the gutters, chimney and walls in good condition?
  • Do the window casings, shutters, siding or doors need painting?
  • Are garbage and debris stored out of sight?
  • On the Inside
    Fortunately, there are plenty of easy improvements you can make to your home's interior without spending a lot of money. Cleaning is No. 1.

    Think, too, about how your home smells. Finally, set a mood for the buyer. Make your house homey with live flowers and fresh guest towels in the bathroom. Place scented potpourri around the house or, on the day you're expecting a potential buyer, pop a batch of frozen cinnamon rolls into the oven for a welcoming aroma.

    Costly home improvements do not necessarily offer a good return on your investment when you sell.
    Go It Alone--or Choose an Agent?
    Some homeowners decide to sell their homes themselves in order to save the commission charged by a real estate agent. Handling your own sale means you will be responsible for placing ads, answering phones and showing your home to strangers.

    You may decide an agent's commission is a bargain the first time that a would-be buyer shows up unannounced at dinnertime. Also, be aware that a real estate agent probably knows a lot more about the business of selling a home than you do. Here are some of the advantages professional agents offer:

  • They will promote your home to other agents and list your property in multiple listing services. A multiple listing service is a book or computer database that all real estate agents who subscribe to the service can access. Your home will get exposure to all those agents, one of whom may have the perfect buyer.
  • They will create, pay for and place advertising for you.
  • They will schedule appointments to show your home to prospective buyers even when you are not there.
  • They can weed out buyers who will not qualify for a mortgage.
  • They can refer you to sources for insurance, inspections, legal counsel and financing.
  • They will help you negotiate with the buyer.
  • If you decide to sell through an agent, ask friends and neighbors for recommendations. Talk to several agents before picking the one you want to work with. Ask prospective agents how they plan to market your home. Negotiate the broker's commission prior to listing your home, and sign for a limited period of time -- usually three to six months.

    Setting a Fair Price

    Here are some of the factors to consider in pricing your home.
  • Your location
  • Economic conditions
  • Supply and demand in the local housing market
  • Seasonal influences
  • Local schools
  • Average home prices in the neighborhood
  • Your home's extras -- pool, fireplace, central air, etc.
  • To determine the value of your home, you probably will want the advice of a real estate agent or appraiser. Ask an agent to prepare a market analysis for you, showing the recent selling prices of three neighborhood properties comparable to your own.

    Either you or your agent will want to quickly weed out potential buyers who cannot really afford to purchase your home. A number of factors will help determine whether or not you are wasting your time negotiating a sale.
  • The buyer's debt and credit history
  • The buyer's current income and employment
  • The buyer's cash position and availability of a down payment
  • The length of time the buyer needs before closing on your home
  • How interested the buyer appears to be in your home versus others
  • Seek Legal Representation

    When selling your home it's a good idea to be represented by an attorney. Look for an attorney with expertise in real estate transactions. When a potential buyer puts an offer in writing and you accept it, the signed acceptance becomes the sales contract. Your attorney will be present at the actual closing to protect your interests and can assist you with the following elements of a sales contract:
  • The sale price
  • What is included in the sale price -- draperies, carpeting, light fixtures, heating oil, etc.
  • The amount of the down payment
  • The date of settlement and possession date
  • Contingencies to the sale--inspections, required improvements, legal review of the contract by the buyer's or seller's attorney, etc.
  • The amount and length of the mortgage loan, interest rate and time limits to secure the loan
  • Determining which closing costs are to be paid by the buyer and which by the seller
  • Tax Implications

    Selling a home can have a major impact on your federal and state tax returns. Check with your tax consultant on the factors that may affect taxes resulting from the sale of your home.

    Don't place your home on the market for sale until you are certain that you are prepared to sell. Don't price your price out of the market when stacked up against comparable homes in your neighborhood. A tidy home shows to its best advantage; the first impression is a lasting impression. Be sure that your home is tidy before your agent holds an open house for other agents to preview your home. Pets should be removed from the premises or placed in a secure area. Refrain from playing loud music or otherwise creating a disturbing environment. Extraneous odors from cooking orfron pets should be avoided.



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