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How To Sell A House: 10 Tips For Selling Your House FAST (and for a great price!)

10 Steps to Sell Your House Fast

If you (or someone you know) is looking to sell, you will probably be looking to make the most amount of money from the sale, right?

So how do you go about makeing sure you net the most money possible?

How To Sell A House: 10 Tips For Selling Your House FASTBelow are 10 tips that a seller can follow to assure that the home gets the best price and most of all, get’s sold quickly.

Step 1: Use a broker that is familiar with your area

You need to expose your property to as many potential buyers as possible. That being said, who do prospective buyers get in touch with when they are house hunting? Most people turn to Real estate agents and brokers. So working with a broker/agent who is familiar with your local market is key. The National Association of Realtors says that 85% of purchasers rely on real estate brokers for their home selections, while the Internet accounts for the majority of the remaining 15%…. and who creates all of those online real estate postings? Real estate agents and brokers from the local area. If you need help with any of this, our would gladly apply for the job!

Step 2: Familiarize yourself with the listing sale agreement.

Standardized real estate contracts have become lengthy and complex over many years. If you sign one of those, read it carefully and be aware that you are agreeing to every unmodified term and condition. Make sure there is nothing in the agreement that needs to be taken out, rewritten, or added. Brokers will offer a copy of the sale agreement that they might use at listing presentations and go over it with you to avoid misunderstandings. Consult your attorney or broker for further detailed information.

Step 3: Be completely familiar with the current real estate market.

For the sake of negotiations, knowing recent comparable sales data isn’t always enough because often they don’t give the complete picture. As an example, two houses might have both sold for $300,000 but the owner gave one buyer a $20,000 seller credit for a new roof and appliances. Local brokers who are familiar with the details of recent sales are able to provide the best negotiation advice.

Step 4: Understand all of the terms you are offering.

You are confident that your property is going to sell at a satisfactory price, but instead of starting out with an inflexible amount, consider the property sale as a combination of price and terms. For example, it might make more sense in a slow market to help to offer to pay some of the buyer’s closing costs by offering a “seller contribution” instead of lowering the price of the property. Often the seller contribution could be significantly less than a reduction in price. Also, buyers who require cash to close the sale could find that more attractive causing your place to sell over your competition.

Step 5: Request a smaller deposit.

In order to create a legal contract, the buyer needs to make an “earnest money deposit”. In an ideal marketplace, a seller will receive a large deposit, but in a challenging market, a much smaller can be accepted. Buyers generally prefer to put down the lowest possible deposit because a huge deposit indicates a big financial and psychological commitment. You can ask for a lower deposit if the buyer has mortgage pre-approval or if the buyer shows a strong interest in the property and you have no other offers.

Step 6: Try to sweeten the pot.

Are you really planning to take large items like a swing set, sun awning, or washing machine? In certain cases it may be better to leave such items for a buyer to make an offer.

How to Price a Property correctly - Sell Real Estate FASTStep 7: Keep your photos updated.

For example, if your MLS photo shows snow around your home in the middle of the summer, potential buyers will know your house has been on the market a while. They may interpret that as a bad sign and will expect to submit a lower initial offer. Make sure your broker posts recent photographs.

Step 8: Fully understand the marketing plan.

The broker’s marketing plan should be reviewed quite often to see that it is being followed and is changed whenever it is needed.

Step 9: Check out the competition (open houses).

Going to open houses, also known as your competition is a great idea. It isn’t always easy to be objective. However, do other owners have selling ideas that might work in regards to your home? Is there something you can
use to bargain with? You could consider offering to do some painting or other cosmetic repairs.

Step 10: Don’t nickle and dime, keep everything in context.

Don’t worry about nickels and dimes when your main goal is to get the house sold. For example, before closing the deal, a seller had a buyer request an extra $500 to resolve last minute repairs that were discovered. That gesture seemed like nothing more than a case of buyer’s remorse, so the seller agreed to it, received an otherwise ideal price, and closed the sale. It wasn’t long before the prices softened in the local market. It was better to lose $500 than to find another buyer later when the market was lower and the final sale price would probably have been less by several thousand dollars. Would the seller have preferred to save that $500? Certainly. However, six hundred dollars was a small price to pay considering that the delays could have meant a big reduction in price (and getting stuck with another mortgage payment).

If you would like any additional information or have any questions, please contact us anytime.

Your friends and local real estate experts,

San Diego Realtors

Oliver, Sam, Sandro

The Home Team

Contact us today:

Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533

Have a question? —>Contact or Email us direct <—

Big Block Realty
Always working hard for you!
www.BigBlockRealty.com
CA DRE #01885775

BUYING OR SELLING?: Don’t forget our Free Home Search Tool.
Search the MLS anytime! http://www.FreeSDHomeSearch.com

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Top Tips For Writing Purchase Offers – Buy A House And Write The Perfect Offer When You Buy Your Next Property!

In this post we reveal the Top 9 Tips for Writing Purchase Offers

So you’re ready to buy a house? First off, a BIG congratulations!BusinessSuccess5

Once you have your financing in order (or cash), the next step in buying property is writing up an offer.

Often times people don’t realize how important the offer contract can be when buying real estate. If you have a poorly constructed offer it can cost you getting the property you want, while at the same time a well written offer can get you the property you want at the price you want!

Try using following tips as a guide to creating a great offer:

1. Get the right Contract

This might seem basic, but there are several purchase contracts out there. Each state has its own rules and regulations and each contract is written differently. Realtor associations publish purchase contracts. If you are looking to buy in California, please contact our team and we will help you get set up with the correct forms.

Some example purchase contracts would be:
–New Construction Residential Purchase
–Agreement Notice of Default Purchase Agreement
–Residential Purchase Agreement
–Residential Income Property Purchase Agreement
–And many more

2. Determine what price you want to offer

Take a look at what comparable properties have sold for along with the current market conditions and come up with what you think is a fair offer price. TIP: Initially offer about 5-8% less than you expect to pay, this will give you some room to negotiate and possibly get an even better deal. Once you submit the offer be prepared to move quickly, in today’s market the good properties are being sold very quickly.

3. Put down a deposit

You will need to make a “good faith” deposit. This deposit will generally be cash, personal check, or cashier’s check. On average the deposit amount should be at least 1% of the sales price. This money (proof of funds or a copy of the check) will be submitted with your offer.

4. List your Financing Terms

Disclose the type of financing you hope to obtain(if you are not paying cash): Include the amount of money down and the type of loan (conventional, FHA, VA, contract of sale, assumption or other). Please remember that your deposit, when added to your down payment and financing should equal the total paid.

house with cash5. Include Contingencies

Contingencies are: Conditions or “safety valves” written into your Real Estate offers that protect they buyer from buying a house that is unsatisfactory (either structurally or financially)

Many contracts also carry provisions for contingencies as: Appraisal (California gives 17 days to complete all inspections) Loan Funding Physical/Home Inspections.

6. When do you take possession of the property?

Spell out the possession date. Is it on closing? A day after closing?

If possession will be prior to closing, enter into a rental agreement to protect all parties. If possession is more than two or three days after closing, execute a rental agreement to protect the buyer.

7. Negotiate Who Pays the Fees

Even though most contracts call for fees to be negotiable, some fees, depending on your state, are customarily paid by one party or the other. You can define who pays fees such as title, escrow, and county or city transfer taxes. In most cases the Seller will pay the fees.

8. Request Special Reports

If you are concerned with any part of the property, ask for a Special Report Upfront. Example Reports: Termite Report, Lead based paint report, and Mold inspections

9. Clearly State Expiration of Offer

Clarify when the offer will expire. You will want to give the seller enough time to make their decision, but not to take their sweet time.

If you would like more information or have questions on how to write up a perfect offer please contact me anytime!

Your friends and local real estate experts,

San Diego Realtors

Oliver, Sam, Sandro

The Home Team

Contact us today:

Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533

Have a question? —>Contact or Email us direct <—

Big Block Realty
Always working hard for you!
www.BigBlockRealty.com
CA DRE #01885775

BUYING OR SELLING?: Don’t forget our Free Home Search Tool.
Search the MLS anytime! http://www.FreeSDHomeSearch.com

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in FreeSDHomeSearch