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SELLER COMMON QUESTIONS
“HOW MUCH IS MY HOUSE WORTH?
There are many factors considered in determining the value of your home such as size, neighborhood, similar homes that have recently sold among many others. I will perform an extensive Comparative Market Analysis to assist in determining the right list price for your property.
“HOW MUCH WILL IT TAKE TO SELL MY HOME?
The time it takes to sell a property varies considerably based on area and price. Pricing your home competitively and getting your home in front of as many buyers as possible will promote faster offers
“HOW IMPORTANT IS STAGING MY HOME?
As an average, homes that are staged sell for over 80% faster and 20% more than homes left as-is. Tactics allowing buyers to envision themselves living in your home leaves more of a lasting impression.
“CAN I BE PRESENT WHEN BUYERS VISIT?
No! It is most appropriate for the owners to not be present and allowing potential buyers to be comfortable with making comments or asking questions without feeling as if they are being offensive. The goal is not to turn off buyers but to promote offers.
“WHAT COMMISSION DO YOU CHARGE?
Commissions can vary with each agent but typically 6% of the home's sales price and usually shared with the buyer's agent. Since Realtors aren't compensated until the sale it is drastically unlike other professions paid hourly. Keep in mind Realtors may invest in professional photography, open house details and other marketing efforts to sell your beautiful home.
“WHY IS THE ASSESSED VALUE DIFFERENT FROM WHAT YOU SAY MY HOME IS WORTH?
The assessed value is used mostly for tax purposes. Market values can rise and fall based on local and current conditions.
“WHAT IS THE DIFFERENCE BETWEEN LIST PRICE & SALES PRICE?
The list price is the price listed on the market that the seller is hoping to achieve. The sales price is the final price the home actually sells for.
“HOW DO YOU DETERMINE THE LIST PRICE?
There are several factors in determining the list price of your home. Beginning with an extensive Comparative Market Analysis (CMA) to evaluate factors such as recently sold comps, withdrawn listings, expired, active and pending homes along with other market conditions.
SHOULD I LIST MY HOME HIGHER TO LEAVE ROOM FOR NEGOTIATIONS?
This is a misguided approach. Listing a home too high may result in fewer showings and less interest rather than a well-priced home that sells quickly. The value should motivate the buyer to make an offer. Ultimately the market dictates the value of your home.
HOW LONG IS THE LISTING AGREEMENT?
Listing agreements are generally six months allowing the Realtor sufficient time to market your property and get it in front of several potential buyers.
WHAT ARE SELLER CONCESSIONS?
Seller concessions are normally referred to as closing costs. These items can include prepaids, diiscount points, loan processing fees, attorney fees, transfer taxes, title insurance costs and more.
WHAT HAPPENS IF APPRAISED VALUE COMES IN LOW?
There are a few options. Traditional Lenders will generally only lend funds up to a certain percentage of the appraised value. The buyer can make up the difference in cash. Often, the best solution is for the seller to lower the price.
WHAT IS A SALE CONTINGENCY?
The sale of a property is contingent upon the Buyer's home being sold first.