Advice For Sellers
Choosing a REALTOR®
Selling your home isn’t a simple procedure. It involves large sums of money, stringent legal requirements and the potential for costly mistakes. Mark will spend the time it takes to help you sell your home in the least amount of time and for the best possible price.
The Listing Agreement
A Listing Agreement is a contract between you and your sales representative's brokerage company. It provides a framework for subsequent forms and negotiations. It's important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties.
Generally, in the agreement you appoint the brokerage company as your REALTOR® and give its Representatives the authority to find a purchaser for your home. The Listing Agreement will outline:
- The duration of the agreement;
- Your REALTOR’S® compensation
- The listing price and an accurate description of the property;
- Financial conditions of the property, including the mortgage balance, mortgage monthly payments and the mortgage due date;
- Information about annual property taxes; and
- Any easements, rights of way, liens or charges against the property.
Setting The Price
How much should you ask for? Although you may have an idea of how much your house is worth, it's important to have your home valued on its own merits by a professional. Be careful not to price your property too high or too low. If priced too high, there will likely be no sale; priced too low and you will lose on your investment.
Mark can provide you with a Comparative Market Analysis for you property, which examines the prices at which similar properties in your area have sold and makes adjustments for the differences between the properties. He will also provide you with information on market history, such as the number of properties sold in your community during previous month or year, average prices and selling times, market trends, etc. Ultimately, it is you who sets the price for your property, but Mark will provide you with the information required to make an educated decision.
Marketing Your Property
At McGarr Realty, Sales Representatives are equipped with all of the resources to market your property efficiently and effectively to prospective buyers. Utilizing the MLS® System, print media, social media, web portals, etc. we can reach all prospective buyers at all levels of the market place and make your house stand out in the crowd. We can advise on how to prepare your home for sale, or provide a list of professionals to stage your home to provide the greatest opportunity for quick sale.
Open Houses are utilized to provide exposure of the property. There are two types. First is a REALTORS® Open House, where all of the sales representatives from McGarr Realty are invited to view your home. Each of these REALTORS® may have a prospective buyer. The second type of is a public Open House, where members of the public are invited to walk view your home. It's an efficient way to show your home to many potential buyers at once. Your sales representative will act as host, answering any questions that potential purchasers might have.
Accepting an Offer
Once a buyer is found, you'll receive an offer that will:
- Detail the buyer’s offered price
- Specify any conditions that may apply or be attached
- State desired date of possession
- Set out the date that the offer expires
The offer, once signed and accepted by everyone, is a binding contract. Make sure you understand and agree to all of the terms in the document.
Other Possible Requirements
Before closing, if the buyer insists upon any conditions of sale, you may be asked to provide a number of things.
- A current survey, or a "real property report," showing that the house sits on the property that you own; that is, that there aren’t any encroachments onto other properties. Providing Title Insurance may alleviate this concern.
- Title to the property (the buyer's lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions)
- Especially in rural areas, a certificate for a well or septic system, stating the system meets local standards
- Access to the property by a qualified engineer or inspector
Sell Your Home with Complete Confidence!
It only takes 8 steps to become an informed seller.
If you are planning to sell, like most homeowners, you are likely struggling with a few questions. You are about to sell the largest asset you have ever purchased. It is natural to be cautious!
My goal is to help answer any questions that you might have. To start, we have produced this guide to answer many of those questions and help you feel confident about the whole process.
This e-book should: