Who will prepare your sales contract? If it is you are you certain you know how to properly do so?
Are you sure of the property legal description?
Is there an existing property insurance policy? Are you eligible for a re-issue credit?
Is a survey required or necessary? Who will order the survey?
How do you prorate escrows for homeowners association dues, taxes, insurance, and interest adjustments? Who pays the difference if escrow comes up short? If new financing is obtained, who gets the present escrow?
Are you prepared to defend your sales price for the buyers loan appraisal?
Should there be one attorney, or should the buyer and seller each have their own representation? Who pays for the attorney?
What are closing costs? Who pays for them? How much are they and how are they computed? Most important, who coordinates all of this for you?
Who will see to it that contingencies and concessions are scheduled, coordinated and cleared before closing? What happens if contingencies are not fulfilled or removed?
Did you know that a home buyer has 3 days after receipt of the HOA Disclosure to rescind the contract?
HOW TO SELL YOUR OWN HOME
Place an ad in your local newspaper. Always include the area of town, the price, number of bedrooms and bathrooms. These are the most important considerations for a buyer.
Consider an ad in local publications.
Design a flyer or brochure for your property. A photo and description of the home is important.
What are the current interest rates and fees on fixed rate and adjustable rate loans? Be prepared to help buyers calculate what their mortgage payment, down payment, and closing costs will be.
Consider having an appraisal done on your home to determine the current market value. Buyers typically will offer less than you are asking because they know a savings of the commission is often built into the price. You are trying to save the commission and so are they.
When a prospective buyer visits your home, follow these guidelines:
Have all buyers pre-approved for financing. Some reputable lenders can be found on www.KimCoburn.com under business directory.
Set appointments at their convenience.
Always prepare the home before it is shown, even if you have to leave work to be ready for their visit.
Have your property brochures and flyers available.
Introduce yourself at the front door.
Let buyers tour the home with as much privacy as possible. Buyers feel uncomfortable making comments in your presence. When they complete the tour of your home ask them if they would like to go back for a second look.
Be prepared. Most people may not be that interested in your home. Buyers shop by comparison and there are usually a great number of homes for them to consider.
In the even you receive an offer from a buyer, have them put it in writing, including an earnest money deposit that will be held in escrow by your Title Company or attorney. Be prepared to pay a real estate attorney to review the legalities of such a contract.
TIPS THAT HELP YOUR PROPERTY SELL FASTER
What is the buyers first impression of the exterior of your house?
Shall I re-seed the lawn and get my landscaping in top shape?
Does the house or any part of the house need painting?
What about the door mats? Do I need to replace them?
What about the screens? Any Holes? What about the windows? Do they work well or do they need attention?
What is the buyers first impression as they step inside the house?
Are my pets in control at all times? Is there a pet odor?
Does the carpet need cleaning or replacing?
Are all appliances in good working order?
Is there any furniture that can be stored to make rooms look larger?
Since all buyers want to look in closets, can I take some of the clothes out to make them look roomier?
Are the garage and storage areas as clean and neat as they should be?
Should I stay out of a prospective buyers way?
Is the price and terms offered going to appeal to most of the buying public in my price range?
Do I need to be aware of other houses similar to mine also being offered for sale?
OPEN HOUSE TIPS FOR THE "FOR SALE BY OWNER"
Look in your local newspaper, in the classified real estate section, to determine which is the most popular day for your Open House.
Schedule your Open House at least one week in advance.
Restrict the total number of hours you will be open to 2 or 3 hours.
Place directional arrows from about 3 or 4 blocks away toward your home.
Place a very visible "Open House" sign in the front yard.
Leave space for visitors to park.
Remove all debris from in front of the house.
Your front porch area and entryway should sparkle.
Turn on all lights, including closets, and open draperies.
Place your brochure or other printed material in the entry area.
Have extra clean bathrooms and close all toilet lids.
If the home features organized closets, open a few for inspection.
Verify that valuables have not been left where accessible to visitors.
Consider a guest registration book for visitors to sign.
SAFETY REMINDERS
Have a guest register or legal pad near your front door. Ask Buyer to register with name, address, and phone number. Now you have a way to follow-up later with the prospects.
Never allow people looking at your home to be alone. Always go with them from room to room. If there are two or more parties being shown the home, be certain they stay together.
Protect your wallet, pocket book, or brief case. Put them out of sight.
Be sure that small valuables such as jewelry, prescription medicine, credit cards, keys, etc. are out of sight.
If you have items of value in the garage, be certain the garage is locked.
If you have placed an ad listing a telephone number, try to be home as much as possible to accept calls. When away, use an answering machine.
Never indicate on the phone that you are home alone. If you are alone when someone wants to come look at the house, ask a neighbor to be present.
Have an information sheet to give to prospective buyers which includes your phone number in case they want to call you again.
