YOUR HOME'S VALUE
Although it may sound easy to sell your home yourself, there is a LOT of work involved, so I highly recommend you hire a trusted real estate agent who will be successful in the sale of your home. Nine times out of ten, most people do not have the time or resources that a real estate agent may have, so it’s best to use someone who is fully committed to selling your property, has access to a wide variety of marketing and resources, and is focused on getting you the highest price possible. With over 1,000 career closings in the span of 12 years (averaging 100 successful closings a year), I am confident I will help you achieve your real estate goals.
Whether you choose to work with a real estate agent or not, you still need to do your homework in preparing to sell your home. The following is a brief checklist to help walk you through the process, but please know if you choose to hire me to sell your home, I handle all of this and more for you. It’s what I do best!
KNOW YOUR PROPERTY
If you are not already, become familiar with such facts about your property as property taxes, zoning, lot size, square footage, etc. Look at the terms of your existing loan.
RESEARCH THE CURRENT MARKET AND PROPERTY LAWS IN YOUR AREA.
How much are properties similar to yours selling for? What are the terms of the sales? What property disclosure laws do you need to take into consideration? How much are the upgrades that you have done or your neighbors have done?
SET THE PRICE.
Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price. Fantasy land is a great place but reality will help you maximize your home’s value and not sit on the market forever.
DETERMINE FINANCING ALTERNATIVES.
Contact lenders in your area to determine what the options are for your prospective buyer. You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you.
PERFORM A “WALK-THROUGH” OF YOUR PROPERTY.
Look at it from the perspective of both the prospective buyer and the inspector. Take notes on all items that need to be repaired or replaced. Things to consider include:
Outside
- Does it need a new coat of paint (either because the old paint is obviously cracked or faded, or because of an uncommon choice in color that might turn off prospective buyers)?
- If a house with a yard, is the lawn and landscaping attractive and well-kept?
- If it is a condo, you can’t do much about the building, but is the front door (and balcony, if there is one) appealing?
- Are the windows and doors attractive and in good condition?
- Are the roof, trim (and the gutters) in good condition?
- Is the grass nicely cut, are the hedges trimmed, are the leaves swept up? Are all toys put away such as bikes, scooters, etc.?
As your real estate agent, these are all items I can help you determine before we take photos to get the most buyers in your home.
INSIDE
- Are the interior paints and finishes in good condition (recently updated), or do they need to be freshened up? This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well-kept and inviting.
- Are the appliances and mechanicals in good working order? and of recent vintage?
- Are the plumbing and electrical systems in good condition? Are they fully functional?
- Are the carpets or other floor coverings clean and in good condition? Like the paint, are they attractive and well-kept? Floor coverings are worth paying for so that your home makes a good impression.
- Are the sealants (sink, shower, tub, windows) in good condition?
- Are all light fixtures working properly, and is there good lighting in each room so that prospective buyers won’t think you’re hiding something?
As your real estate agent, it is my job to get your house to the best possible condition before listing it. You want your house to be top notch in order to get the most out of the sale.
ESTABLISH A MARKETING BUDGET.
How much are you willing to spend to sell your house?
- Real estate commission if you use an agency to sell, keep in mind that most buyers are working with a buyer’s agent so you need to plan to compensate their agent in NC.
- Advertising costs on and off the internet, signs, other fees if you plan to sell by owner.
- Attorney, closing agent, and other professional fees.
- Excise tax for the sale.
- Prorated costs for your share of annual expenses, such as property taxes, homeowner association fees, and fuel tank rentals.
- Any other fees typically paid by the seller in your area (surveys, inspections, etc.)
- Real estate agents deal with transactions every day and can give you a very close estimate of seller closing costs.
MARKET YOUR PROPERTY ONLINE
As you have probably noticed from the website you have found this article on, most agents have their own website, which includes their clients’ listings as well as the entire MLS search. If you work with an agent, your property will most likely be placed on their website and on the full MLS search as part of the services they will offer you. As a top agent I pay for extensive internet marketing to reach the locations of your target buyers. In addition, some print medianewspapers automatically (or for an extra fee) offer Internet advertising tied in to their traditional print ads. Learn the rates and deadlines for each publication, then decide which one (or more) is best for you and your market.
ESTABLISH A MARKETING PLAN
Now that you know what advertising will cost, create a plan on how to best (within your budget) reach prospective buyers, both local and out-of-town. Since many people do relocate from a distance, be sure to include online advertising in your plan.
WRITE THE TEXT AND/OR DESIGN YOUR AD
At the very least, you will need a well-written few sentences that will run as an ad online or elsewhere. In addition, you might decide to use flyers to hand out at open houses (or anywhere else you might meet prospective buyers). Don’t skimp on this. A professional, well-crafted ad can attract buyers while a poorly designed and executed one can turn buyers off to your property.
This is why I have a former English teacher on my team who writes the advertisements for each new listing. Who wants to list their house with an agent who rushes through the ad resulting in spelling/ grammatical errors and incomplete sentences? Unfortunately I have seen way too many of these over the years!? Having a polished ad copy truly makes or breaks a deal.
PURCHASE AND INSTALL A “FOR SALE” SIGN
This should be well-designed, attractive, and weatherproof. The sign must be placed where it can clearly be seen from the street. If you are working with an agent, he or she will most likely provide the sign to you.
PREPARE A FACT SHEET
Design a single sheet description of your property listing the features and benefits that will draw in prospective buyers. This should be attractive, and professional looking and from a marketing point of view be easy for anyone to understand. Have enough copies on hand to give out at open house showings or purchase a sign box to keep flyers next to the “for sale” sign. If you list with me, we take care of all of this for you.
PURCHASE “OPEN HOUSE” SIGNS
Make sure that they include a place to write the address of your property and the date/time of the open house. In addition to one for the front yard, you’ll want to place several in conspicuous locations around the neighborhood, such as main streets leading to your house. For these, directional arrows can point prospective buyers to your house even if they don’t know the area. Make sure that you take these signs down as soon as the open house is over. You don’t want people showing up on your doorstep at all hours of the day and night.
SET UP A SCHEDULE OF OPEN HOUSES
While most are held on the weekend, this is not convenient for all buyers. Make sure that you coordinate your print advertising to include information about your next open house.
GET YOUR FORMS IN ORDER
A number of forms are required for the legal sale of your property. In addition to the contract of purchase and any counteroffers, there are approximately 20 other forms that the seller is required to provide to the buyer. It is necessary to review the contract carefully to determine when these forms/documents are due and what the buyer’s rights are once they receive the document. The form and content of many of these documents are prescribed by state or federal law and must be adhered to in their entirety. The proper forms may be obtained from your local Board of Realtors or from your real estate agent who is representing you.
NEGOTIATE FINAL TERMS OF THE SALE
BUYER(S) NEED TO COME TO AN AGREEMENT (IN WRITING) REGARDING THE FOLLOWING:
- Price
- Deposits
- Items to repair/replaceInspection contingencies
- Financing terms
- Date of closing
- If seller or buyer possession is needed after closingDate of possession
- It would be prudent for you to have an attorney review any and all contracts before the deal is finalized
FINAL WALK-THROUGH
When both the buyer(s) and a witness can be present, schedule a final walk-through before you complete the settlement in order to determine that the property being conveyed meets the expectations of all parties involved. You may often want to do a video walk through for your records.
FIND AND MAKE ARRANGEMENTS FOR THE HOME YOU WILL BE MOVING TO
Unless you have already built or bought a new residence, you’ll need to be the “buyer” for a new property while simultaneously being the “seller” for your current one. If possible, schedule both transactions to close at the same time, or else close your purchase shortly before closing your sale. Please note that you You often need to be moved out before the new owners do their walk through.take possession.
FEEL OVERWHELMED?
I can help! I know listing a home can be difficult, especially when you do it by yourself. I’d love to help you list your home and help you achieve real estate goals.success. Call, text, or email me anytime. Jeff Lesley at 910.297.7071 or JLesley@WilmingtonC21.com. I look forward to working with you!