It's A Great Day At Davis Real Estate, Inc.

Steps to Selling your Home

1. Identify your needs.

Write down all the reasons for selling your home. Ask yourself…

• Why do I want to sell and what do I expect to accomplish with the sale? For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move.
• Write down if you’d like to sell your house within a certain time frame or make a particular profit margin.
• Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.

2. Establish your price.

Your real estate professional at Davis Real Estate, Inc. will assist in determining the best possible selling price for your house. Establishing a price in line with the current market conditions will generate the most activity from other real estate agents and buyers. How do you know it’s the right price?

• Your agent will perform a Comparative Market Analysis (CMA).  This report will take into account the condition of your home, what comparable homes in your neighborhood are selling and listed for, and state of the overall market in your area.
• A real estate agent is unbiased when putting a price on your home and their expertise is invaluable at this step. Your agent will know what homes are selling for in your neighborhood and the average time those homes are on the market.
• Remember: You’re always better off setting a value based on the local market conditions than setting your price too high. Studies show that homes offered at higher than 3 percent of their market value take longer to sell.
• Overpricing may keep qualified buyers from viewing your home. If your home is on the market too long, potential buyers may think there is something wrong with the property. When this happens, the seller often has to drop the price below market value to compete with newer, reasonably priced listings.

3. Prepare your home.

Most of us live in our homes so they may not be in “showroom” condition. We tend to overlook minor items like piles of boxes in the garage, a broken porch light, and doors or windows that stick. Buyers don’t think like owners. The perceived condition of your home will affect how quickly it sells and the amount a buyer is willing to offer.

• First impressions are the most important. Your real estate professional can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers.
• A home with too much “personality” is harder to sell. Removing family photos, mementos and personalized décor will help buyers visualize the home as theirs.
• Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer’s first impression.
• Clutter is never a plus when showing your home to potential buyers. Rooms appear smaller and buyers have a difficult time visualizing themselves in the house. Make sure you make every area seem as spacious as possible – especially kitchen counters.

4. Marketing and Promotion

Now that you’re ready to sell, your real estate agent will devise a specific strategy to promote your home. There are many ways to get the word out, including:

• Internet  (we utilize 15+ web sites in addition to this one)
• Yard signs
• Open houses
• Media advertising
• Agent-to-agent referrals
• Multiple Listing Service
• Direct mail marketing campaigns

Your Davis Real Estate, Inc. agent will prepare a marketing plan using a combination of these items based upon your individual home to attract qualified buyers to your home.

5. Receive a Proposal

When a written offer to purchase is received, your Davis Real Estate, Inc. professional will first find out whether the individual is prequalified or preapproved to buy your home. Your agent will provide you with a list of expenses as well as what your approximate net proceeds from the sale will be. You will then review the proposed agreement, with your agent taking care to be certain you understand what is required of both parties to complete the transaction. The agreement, though not limited to this list, may include the following:

• Proposed purchase price
• Buyers investment
• Financing arrangements
• Amount of initial deposit from buyer
• Inspection rights and possible repair options
• Appliances and furnishings that will stay with the home
• Settlement date
• Date of possession
• Contingencies

At this point, you have three options: accept the contract as is, accept it with your changes (a counteroffer), or reject it. Remember, once both parties have endorsed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them prior to acknowledging the agreement.

6. Negotiate to sell.

Most offers to purchase your home will require some negotiating to come to a win-win agreement. Your real estate agent is well versed in all aspects of the contracts used in your area and will protect your best interest throughout the bargaining. Your agent also knows what each contract clause means, what you will receive from the sale and what areas are easiest to negotiate. Some negotiable items include:

• Price
• Financing
• Closing costs
• Repairs
• Appliances and fixtures
• Landscaping
• Painting
• Move-in date

7. Prepare to settle.

Once both parties have agreed to the terms of the transaction, things should move quickly. With a Davis Real Estate, Inc. agent representing you, preparing to settle will be laid out clearly for you.  Your real estate professional will lay out a timeline which may include:

• Scheduling the appraisal and any inspections for you.
• Have the new deed prepared.  Your agent can provide you with a list of attorneys for this task.
• Your agent will remind you to schedule to have utilities switched out of your name.
• Gather owner’s manuals and warranties for all conveying appliances.

8. Close the deal.

“Closing” refers to the meeting where ownership of the property is legally transferred to the buyer. Your agent will be present during the closing make sure everything goes as planned. On this day, the settlement officer (usually an attorney or closing company in our area) will:

• Have the buyers sign their documents
• Review the settlement statement
• Transfer the keys to the purchaser
• Record the documents
• Pay off your mortgage
• Provide your agent with a check to deliver to you

Call any of our agents to get started marketing your home now!

Or email pattyd@davisrealestateinc.com