Agent & Price
So you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.
Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? You might think your reasons are obvious, but it would do well to consider the implications of each option for your lifestyle, opportunities, and finances. Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.
When Should I Sell?
You should immediately establish your time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain all of your goals. If there is no pressing need to sell immediately, you can sit down with one of our expert real estate agents to thoroughly review the current market conditions and find the most favorable time to sell.
What Is The Market Like?
When you work with us, you can be sure that you will have our knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. We will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. With us, you will know exactly how to price and when to sell your property.
How Do I Optimize My Finances?
Deciding to sell your property demands a serious consideration of your current financial situation and future possibilities. With the help of our qualified agents, you will be able to effectively assess the cumulative impact of these changes, estimate potential proceeds of selling your property, and plan effective tax savings and estate planning strategies. We will ensure that you not only take control of your finances but use them to their fullest potential.
Deciding to sell
Should you sell your home? Ask yourself these questions to help you make the right decision.
- Have your needs changed in the last few years?
Perhaps your family has grown and you need a bigger space. Or perhaps you received a great job opportunity in another state and have to relocate. Or you simply feel your present home is no longer suited to the lifestyle you want. Any of these is a good reason to sell your home and make the big move to a new one.
- Have you built enough equity on the home?
Find out how much your home is worth on the market now and see if it’s more than what you owe on it. It’s best to sell when you have positive equity, ideally enough to pay off your present mortgage, and still have more leftover for a down payment on your next home.
- Are you financially ready to buy a new home?
If you’ve paid off substantial non-mortgage debts and have saved enough for an emergency fund to last you three to six months, then you’re in a good position to buy your next home.
Preparing to sell
- Find the right Realtor to work with
With the guidance of a real estate agent, you can avoid common pitfalls in home selling, such as pricing your home incorrectly and not making the right preparations. We will be by your side at every step of the selling process, from setting the right price and preparing the house for sale, to marketing your home and closing.
We will provide you with tips for selling your home successfully and all the professional advice you need in making difficult decisions. We will also negotiate strongly on your behalf.
It will be our pleasure to help you with all your real estate needs in State College, Bellefonte, Centre Hall, and the surrounding communities in Centre County. Give us a call at 814.231.0101, or drop us a note here.
- Identify and do needed repairs and improvements
Go over the property carefully to see where repairs and renovations may be needed to improve the value of your home and make it as attractive as possible.
- Clean, declutter, and depersonalize
Buyers will inspect every corner and surface of your home, so you have to make sure it lives up to the scrutiny. Declutter and remove your personal photos and memorabilia to make it easier for buyers to imagine the space as their own, as well as to give off a comfortable, relaxing vibe.
- Stage your home
Home staging can make your property more appealing by highlighting its best features and downplaying the less desirable ones.
Pricing Your Home
We will help you set the right selling price for your home by doing a Comparative Market Analysis, which takes into account the prices of recently sold homes in the neighborhood, the desirability of your property, your home’s strengths and weaknesses, and current market conditions.
We may also recommend pricing strategies to get the best price for your property, such as listing your home above or below its market value in order to encourage a bidding war or take advantage of favorable selling conditions.
Marketing Your Home
We have an arsenal of marketing tools to use in finding the right buyer. These include listing your home on the MLS, email marketing, creating and sending flyers and brochures, creating video tours, and more.
We can also use our widespread network to spread word about your home, and connect you with professional photographers and videographers who can create high quality marketing materials.
With the right market conditions and selling strategies, you may receive multiple offers for your home. We will go through each offer with you to determine the best one. Avoid jumping at the first offer that comes along and always leave room for negotiation.
The highest offer may not always be the best one. Consider other factors, as well, such as contingencies that might come with an offer, the amount of earnest money, and other sweeteners like a shorter closing or an offer to pay all closing costs.
Trust your agent when it comes to negotiations. We know how to get the best possible deal for you while keeping negotiations open with interested buyers.
Escrow, Inspections, and Appraisals
Once you find an offer you like, you and the buyer will enter into a sales agreement, and the process goes to escrow. The buyer will be doing much of the work at this time as they finalize the financing for the home.
The buyer’s lender will conduct an appraisal of the property, and if their valuation turns out to be lower than what was agreed upon, the buyer can renegotiate the price, agree to shoulder the difference, or get out of the sale.
The buyer will also likely have a professional home inspection done. If problems are found during the inspection, this could also lead to renegotiations and even the sale falling through, so it’s best to be upfront about the condition of the property from the onset.
If you still live in the house, the escrow period is a good time to prepare for your move. Make sure your belongings are properly packed or stored in a safe place, and make temporary housing arrangements if you still haven’t found a new home to move into.
Closing the deal
If everything is in order, you and the buyer sign all the needed paperwork for closing. You may not need to be present at the closing table, and be represented by your agent or lawyer instead. Once the lender releases the funds for the purchase to you, the title and the keys to the home are handed over to the buyer.
Engaging in a real estate endeavor could reap a windfall of profits for you, especially if you know the right moves and get the best advice from a professional in the industry. However, even if you’re selling, you will still have to set aside a good chunk of your finances to follow through with the sale.
This article will be your best guide if you’re planning to put up your home for resale. This will allow you to anticipate the extent of financial requirements so that when the time comes, you’ll have a better idea of how much money to put up for a successful and profitable sale.