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SELLER INFORMATION

For a Free Comparitive Market Analysis (CMA) Click Here.


HOME SELLER TIPS



Every seller wants their home to appeal to all prospective home buyers and to maximize the selling price. However, the home owner, having decorated to their specific desires and become accustomed to the surroundings, may not easily recognize what needs to be done to prepare the home for sale. Preparing a home for sale is not an easy job but can be very profitable work. Prime Real Estate provides the following tips to consider to prepare your home for sale:


Make a Good First Impression

There is a very important term used in real estate called 'Curb Appeal'. The National Association of Realtors  statistics indicate that 40% to 50% of all home sales are determined at the curb. Many sales are lost because the buyer drives by and never looks inside the home. Much curb appeal improvement can be done relatively inexpensively, such as, some painting, lawn care, trimming back shrubbery, flowers, pressure cleaning or coating the driveway, cleaning out gutters, removing all yard clutter, etc. A few major items, if bad, are important to fix, such as, roofing, bad siding, bad or broken windows, and bad external doors.

Neutralize

If you need to paint or replace carpet, make it a neutral color - white, off whites, or beiges. If the choice is paint or wall paper, paint. Wall paper is a very personal choice and quickly discourages buyers if they don't like it. 

Unclutter

Clutter makes the inside of a home appears much smaller than it is. Remove knickknacks, small appliances, make kitchen shelves more open, clear off tables & counter tops, have only a few items hanging in closets, and have closet shelves empty. Remove ash trays and pet supplies. Put all valuables away. You will be moving out of the home anyway, so start packing into boxes and store them in the garage. Visit a few open model homes to see how it is done.

Clean,Clean, Clean

Its hard work, inexpensive, but very important. Make everything spotless from top to bottom. Make everything neat like bathroom towels, magazines, table settings, etc. If its clean and neat, the buyer assumes the entire property has always been well taken care off.

Make It Smell Good

There is nothing like a good aroma when you walk in the door to give a homey feeling. Bake some cookies or boil some apple cider and cinnamon prior to home showings. Vanilla candles or potpourri are very effective. Never allow a musty, moldy, pet, or a smoker smell to exist.

Make It Feel Like Home

If you have a fireplace and it is cool outside, have a warm cozy fire going. Let the light in - open blinds and turn all lights on. Set the thermostat to 75 degrees, a pleasant comfort zone for most people. Create a peaceful, serene environment with soft music and turn the TV off.  If the home is being shown by a Real Estate agent, leave before they arrive and take the family and pets with you.

Make the Selling Price Competitive

This may be the most important tip of all. Have your property appraised or get several Comparative Market Analysis (CMA) from Realtors. Know the current market value of your property and set your selling price accordingly. As can be expected, many owners have a biased opinion of the value of their property. No matter how wonderful a home is, it will not sell if it is not properly priced for the neighborhood. Pricing too high is a waste of your time, of your Realtor's, and worse yet, that of prospective buyers. You just might miss your one and only buyer by the time you lower the price.

Buyer Possession

Plan your selling and move schedule such that you can advertise that the buyer can take possession at closing and then move in immediately. Typically, buyers are anxious to move into their new home and have serious concerns about others occupying the home after they become the owners. Being prepared for this will eliminate a very sticky point in the purchase negotiations.

Incentives

You can make your home more appealing to buyers by offering incentives that make choosing your home by a buyer more likely than other homes on the market. The incentives that will be most effective may depend on the current market conditions, so consult with your real estate agent. NOTE - an incentive must be well advertised to be effective. Some incentives to consider are:


  1. Home Warranty Plan - There are several one year warranty plans available that cover appliances, furnace, air conditioner, roof, etc. These plans cover the seller up to closing and the buyer after closing. This relieves the buyer's fears of something serious going wrong at a time they may not have funds available just after closing. The cost is around $300.


  2. Home Inspection - Have the home inspected, correct the major items, have the inspector furnish full documentation, and provide a copy to prospective buyers. This will assure buyers ( as well as the seller) that they will not have major negotiation problems after the purchase agreement. Often the buyer will not even have an inspection done. The cost is around $300.
  3. Closing Costs - Offer to pay closing costs. This appeals to all buyers but is particularly appealing to first time buyers who may be having problems with the up front cash need to purchase a home. The cost is one to two thousand dollars.
  4. Mortgage Points - Offer to pay one or two points to reduce the mortgage interest rate below any they could get on any other home on the market. A point costs 1% of the mortgage.
  5. Second Mortgage - Offer a second mortgage for the difference of their down payment and 20% down so that the buyer does not have to finance as much and avoids the private mortgage insurance (PMI) charges. This will reduce the cash you receive at closing but does provide you regular income and interest on your money.
  6. Decorating Allowance - Offer a one or two thousand dollars allowance at closing for the buyer to spend to redecorate items in the home that may not appeal to them.
  7. Agent Bonus - Provide an incentive of one or two thousand dollars on the multiple listing to the real estate agent that provides the buyer of the home. This will put your home higher in their priority to show the home to prospective buyers.



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