Before you sell your home, there are some basic things you should think about: is the house ready to sell? How do I set the price? How much am I going to make? These questions are all important, but the most important decision you will make regarding the sale of your home is to choose the right agent. A Meyer and Gross Real Estate Co. agent has the experience and training to help you make the right choices. Remember, you don't know how important a good agent is until something goes wrong.
Should I Sell My Home Myself?
It's a question thousands of homeowners ask themselves every year. If you're one of them, you have some difficult decisions awaiting you. Selling your home can be a long and complex process, so it's important to think about all the potential implications both positive and negative before choosing to go it alone.
Below is a list of some of the duties and responsibilities you would face as an independent home seller.
Pricing Your Home
Listing your home so it's in line with comparable properties and market trends. You don't want your home to linger on the market or sell for a lower price than you might have otherwise received. You should remember that "For Sale by Owner" typically attracts bargain hunters who may expect you to lower your price since there is no REALTOR® commissions.
Marketing Your Home
Putting up signage that is consistent with local ordinances, developing and paying for display and classified ads in your local newspapers, holding open houses, and working to ensure your home gets good word-of-mouth exposure among your friends, neighbors and community organizations.
Showing Your Home
You would be responsible for scheduling and being available for all showings of your home. You have to screen the "buyers" from the "lookers" curiosity-seekers are common at "For Sale by Owner" homes. You should also pre-qualify potential buyers to ensure they can afford to buy your home.
When the time comes to negotiate, you'll need to be prepared and informed. Try and make a final agreement as quickly and efficiently as possible. Once an offer is made, agree on the price and terms, respond to objections and try to be responsive and flexible to legitimate concerns.
Drawing Up The Contract
Every independent home seller should have an attorney or other qualified individual to preside over all agreements. There are forms required by law that you must provide to buyers, and there are many details that need to be agreed upon and indlued in the contract. You will aslo need to pay you rattorney to preside over the closing.
Is a Meyer and Gross Real Estate Co. agent a better choice?
Selling your own home takes a lot of hard work and know-how. Making even a small mistake can spell serious trouble. By working with a REALTOR® from Meyer and Gross Real Estate Co., you gain the services of an experienced professional with training in residential sales. Not only does that free you from the time consuming tasks involved with selling your home, it gives you the added expertise to help maximize the profit from your home.
A Meyer and Gross Real Estate Co. agent can help you sell your home faster and for the best price by:
Think of the services that Meyer and Gross Real Estate Co. provides as an investment, one that immediately pays for itself in the quick, efficient and successful sale of your home.
Frequently Asked Questions by Home Sellers
Answer: Along with economic factors such as supply and demand, the time of year you choose to sell can impact both the length of time it takes to sell your home and its ultimate selling price. Weather conditions are more or less of a consideration depending upon where you live. Typically, however, the real estate market picks up around February, continues strong through late May and June, and tapers off during July and August. September through November generally marks a rally not as strong as late winter and spring, followed by a slowdown from Thanksgiving through and beyond the Christmas and New Year holiday period.
Answer: You must take into account the prevailing state of the real estate market and especially local market conditions. The real estate market continually changes and market fluctuations affect property values. So it is critical to determine your listing price based on the most recent comparable sales in your neighborhood.
A comparative market analysis provides the background information on which to determine your listing price. Review the comparable sales data provided to you by your Meyer and Gross REALTOR® and other agents you've interviewed. Be wary of an agent whose opinion of value is much higher than the others.
Answer: Several factors may come into play:
Answer: Here again, it depends upon market conditions. But if your home is priced right and in good condition, you should be able to expect the minimum market time in your area. On the other hand, if your home is overpriced and needs work, the opposite likely will be true.
Answer: Obligations to disclose information about a property vary from state to state. The focus on disclosing defects has become more intensive in recent years, often including locally mandated disclosure forms for revealing any material defects. Typically, you must disclose all the facts affecting the value or desirability of your property that are known or accessible only to you. For example, you are required to indicate any significant defects of which you are aware about the home's major systems, the presence of environmental hazards, room additions or repairs made without the necessary permits or not in compliance with building codes, zoning violations and much more.
Answer: There are many things you can do to make your home show better without spending a lot of money. Use good old "elbow grease" to make sure the interior and exterior property is clean and neat. Consider:
Answer: An agent representing you as seller should communicate withthey Buyer's agent in advance and have some assurance that the buyer is pre-approved for a loan at the onset of the contract negotiations. Ideally, the buyer is a non-contingent buyer and a pre-approved buyer.
Answer: No. If you prefer a lower-priced offer, perhaps with a better-qualified buyer and/or more attractive terms, you can accept that offer instead. Or you can give counteroffers to one or more of the buyers. Beware, however, that if you turn down a full-priced offer, you may owe your agent a full commission even if you decide not to sell your home.
Answer: It is very unwise to try to back out of the contract because a purchase offer that's accepted is a legal contract that the buyer can seek legal remedies to enforce.
Answer: Because the buyer orders one or more home inspections doesn't obligate the seller to make repairs or modifications as a result of those inspections. Typically, however, inspection reports are used to negotiate repairs of major problems, or environmental or safety hazards that may be noted. The purchase contract should provide guidance for these negotiations.
Answer: From the proposed purchase price you typically subtract:
Answer: If and when you decide to sell your home, you will not be eligible for a tax-free capital gain up to $250,000 for one person and up to $500,000 for two unless you've lived in the home as your primary residence for at least two of the five years before you sell.
Answer: The answer to both questions is no. You can qualify for a capital gain with each primary home you own and sell, and can do this every two years if you so choose.
As well, it is not necessary to re-invest your proceeds in another home.
$27,500 - Cumberland, IA
621 Poplar Street
Atlantic, Iowa 50022