STEPS FOR SELLING A HOME Four Star Real Estate, LLC.
While almost 100,000 existing homes are sold each week nationally, the process is not as easy for sellers as it was five or ten years ago. Surviving in today’s real estate world requires experience and training in such fields as real estate marketing, financing, negotiating, networking and closing – the very skills and expertise that are available from your professional Four Star Real Estate Sales Associate.
The home selling process typically starts months before a property is made available for sale. It is necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired, or discarded.
While part of the “getting ready” phase relates to repairs, painting and other home improvements, this is a good time to ask yourself why you want to sell.
Outlined below are important steps in the selling process.
1. THE DECISION TO SELL – SELECT A FOUR STAR REAL ESTATE SALES ASSOCIATE
Selling a home is a significant matter. There should be good reasons for the decision, such as a job change to a new community or the need for more space. Your reason for selling can impact the negotiating process so it is important to discuss your needs and wants privately with your Four Star Real Estate sales associate.
2. SET THE PRICE – CREATE A MARKETING PLAN – REVIEW SELLER’S DISCLOSURE STATEMENT
Many factors affect the price of a home: location, condition, and amenities of a home, supply and demand, and real estate conditions in the local marketplace. Your local Four Star Real Estate sales associate will assist you in creating an accurate market analysis on your home, so you will be able to develop a realistic, competitive pricing strategy for your home.
A written seller’s disclosure has become a major part of a home sale transaction in Florida. The Seller’s Disclosure Statement is a form on which the sellers describe, to the best of their knowledge, physical aspects of the property. This includes numerous categories such as land condition, structural condition, plumbing, roofing, electrical systems, and additions or remodeling of the property. Four Star Real Estate has found through experience that a written disclosure is the best way to clearly communicate information. It will reduce uncertainty and misunderstandings, thus giving buyers confidence and peace of mind when negotiating on a property. As a company standard, the Seller Disclosure Statement is provided for every Four Star Real Estate residential listing.
3. FIND THE RIGHT BUYER
When you list your property with Four Star Real Estate, not just one, but thousands of agents in Florida – and throughout North America – are working to sell your home! Through unprecedented levels of exposure, marketing and networking, we will create a demand for your home among targeted buyers to find, fall in love with and purchase your home. You can be assured that any buyer brought to your home will be pre-qualified to purchase your property.
4. PREPARE FOR THE SHOWINGS
A house that “sparkles” on the surface will sell faster than one which is in disrepair, even though both are in the same neighborhood and structurally sound. From experience, Four Star Real Estate sales associates know that a “well-polished” house is more appealing to more buyers and will sell faster and for a higher price. Additionally, buyers feel more comfortable purchasing a well cared for home. It gives them confidence that the owner has performed careful maintenance on what cannot be seen during a showing as well as what can. In preparing your house for sale, consider how much you should spend to enhance the exterior of the home for curb appeal and the interior for appearance.
When the time arrives for a buyer to make an offer on your home, the typical protocol in Florida is for your sales associate to meet with you before the buyer’s agent arrives at your home or at your local Four Star Real Estate Sales Office. At times, in an extremely competitive market, a multiple offer situation can arise. Typically, multiple offers can be presented to you all at once, and then a blanket counter offer can be made. At that time your agent will review strategy, price terms, conditions, closing date, inclusions/exclusions and other pertinent issues in the offer. In addition, at this time it is extremely important to review the buyers’ mortgage pre-approval, or other pre-approval, to determine that they can afford to purchase your home.
Once a meeting of the minds has occurred between all parties, the official signing of the contract proceeds..
6. THE CONTRACT
In Florida, it is typical to provide a $1,000 or more earnest money deposit with an offer. All parties will be provided copies of the executed contract.
7. REVIEW AND ACCEPTANCE
Buyers will usually give an amount of time they would like to hear back from the sellers. During this time, discuss contract details regarding the sale with your Four Star Real Estate sales associate and your closing agent.
8. HOME INSPECTIONS – 2ND DEPOSIT – FOLLOW-UP MORTGAGE APPROVAL AND CONTINGENCIES
Home inspections should now be accomplished according to the terms of the contract. Home inspections are typically ordered within 10 business days. Any issues that arise as a result of the home inspection should be discussed with your sales associate.
Your Four Star Real Estate sales associate will assist in following up on all contingencies that must be met. Survey, title search and title insurance will be ordered by your settlement services company. Ask them to review these items with you.
9. THE WALK-THROUGH – THE CLOSING
In Florida, the buyers, along with their agent, will perform a “walk through” of the home to ascertain that it has been left in “broom-swept condition” and that items were not left behind that should have been removed and that items agreed to in the contract have remained in place. Refer to your contract of sale for specifics.
Both the buyers’ and sellers’ sales associates should also be present. Remember to bring all extra keys and garage door openers. Typical costs due at closing are closing agent fees, mortgage liens, mortgage cancellation fee, realty transfer fee (rate fixed by sales price of property), adjustments (either a credit or charge for tax, water, sewer, etc), Certificate of Occupancy and real estate commission. This is not a definitive list. Please contact your Four Star Real Estate associate or closing agent for specific details.