| The Selling Process - the basics |
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Your thinking of selling your home, but not sure what to expect? You've come to the right place. Most people go through selling their home only a couple of times in their lives. I'm a highly detailed and organized agent and will be right there with you throughout the process. The following steps are a general outline of what you can expect. If I can help in any way, just let me know! Download "Selling Your Home" (below) an online presentation for a more comprehensive guide. 1. Decision to Sell - Deciding to sell your home is a huge decision. The first step in this process should be to clearly understand your motivations. A review of your goals, financial and otherwise is crucial. This step is essential for both of us to be on the same page and working to accomplish the same goals. 2. Property Preview & Needs Analysis – During our initial meeting, I will take a tour of your home and discuss your real estate goals and plans. We will also discuss your goals and how that will impact the potential sale and marketing of your home. I will present the research I have done of comparable homes for sale in the area, recently sold homes, neighborhood values and market trends. I have taken into consideration other factors such as the condition of your home, its curb appeal, location and age. 3. Setting the Price and Marketing Plan - Of course one of your most pressing questions will be "How much should I list my home for?” This is a very important part of the sales process. If you set the value too high, you run the risk of scaring away qualified buyers and realtors. After the house sits on the market for a while, people begin to wonder if there is something wrong because it hasn't sold. Even if you could sell your house for an inflated price, many times a lender won't approve a loan on a house that doesn't appraise for that amount and the sale might fall through at the last minute. On the other hand, if you price your home too low, then you won't realize the maximum potential of your investment. It is extremely important to rely on a thorough market analysis. Many people do a quick comparison of price per square foot, but that does not take all the variables into consideration and can sometimes be quite misleading. I will analyze many different factors including other comparable listings, special features of your home, neighborhood and local school information, current market conditions, availability of mortgages and insurance, supply of homes in your area, price range and recent sales. I will then prepare a detailed Comparable Market Analysis suggesting a price range for your property. Together we will agree on a list price. Finally, we will cover the marketing plan for the home. This includes deciding on incentives that should be offered to potential buyers, determining the best ways to advertise, and other aspects of the plan. Remember that that goal is to sell the home for the highest price, in the least time, with the fewest hassles. 4. Preparing the Home - There are two important ways that you can have an impact in making your house attractive to buyers: property condition and list price. After deciding on a list price, I will setup a personal staging appointment. My interior design background makes me a very unique agent. I am able to offer professional staging advice at no cost to my clients! Together we will evaluate your home and make decisions about the interior and exterior appearance. Many times simply de-cluttering or rearranging furniture can make a huge impact. 5. Marketing the Home - Marketing your home is the key ingredient for receiving offers. Together we will discuss which marketing ideas fit your home best. As agents and potential buyers begin visiting your home either on the Internet or in person, I will obtain their feedback. Their feedback is essential for us to know if our marketing plan is working. Together we will discuss the feedback and determine if your plan needs adjustments. 6. Getting the Offer and Negotiating - You have an offer, now what? We will meet to discuss the terms of the offer. Depending on your goals and the terms of the offer, you may wish to counter offer. Together we will determine our strategy. I'm here to help you reach your goals and I will help you with all negotiation. Once agreed upon and signed by all parties, an offer becomes a legally binding contract. In the state of Texas, a contract for the sale of a home must be in writing. Once both buyer and seller have agreed upon the offer, then the buyer will have a limited period of time in which to have any inspections (the option period). During this time, the buyer can withdraw from the contract for any reason without penalty. The buyer might request that you complete certain repairs before closing or that you contribute a certain sum of money at closing to cover these repairs. If this happens, I will help you to negotiate an agreement with the buyer to keep all parties content. After the option period ends, the buyer is legally bound to the terms of the contract. A date will be set for closing in the contract. It typically takes around 30 days from the contract date to close, although it can sometimes be a slightly shorter or longer time. At this time you can begin preparing for your move and taking care of any required repairs. 7. Closing - This is the day that you will finally say goodbye and your house will become the buyers’ new home. I will accompany you to closing to make sure that everything goes smoothly. Feel free to ask any questions either before the closing or during the closing itself. Plan on moving the day before closing, as the home will need to be vacant and clean on closing day.
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Lisa Meier is a REALTOR licensed in the state of Texas. Each office is independently owned and operated. Equal housing opportunity. The broker does not guarantee the information describing any property. Interested parties are advised to independently verify all information through personal inspection or with appropriate professionals. Broker Licensed in Texas, North and South Carolina, Mississippi, Florida and Alabama.