Buying a Home
Working with Buyers:
Depending on how buyer will purchase (cash or financing) will determine the 1st step.
Cash is always easy and faster if buyer has the cash or means to cash available. However, most buyers finance the purchase. Therefore, it is important for buyer to know where they stand prior to the property search.
Schedule a meeting with a reputable lender and get pre-approved!
Once you have identified your dream property, ask your real estate professional to complete a valuation of the area based on other comparable properties. This will help the buyer to make an educated informed offer that is fair and realistic to both buyer and seller and saves time.
Negotiate the terms of contract with the seller.
It is recommended that buyers hire an inspector to inspect the selected property. Even vacant land should be evaluated. Therefore, an inspection period should be included in the offer.
Upon executed purchase contract, if buyer is financing their purchase, a copy of the contract should be submitted to their lender immediately to complete processing the loan and ordering the appraisal.
Depending on location of the property and local customs, a title company or attorney should be identified to complete a title search and close the transaction.
Selling Your Home
Working with Sellers:
Step 1 – Plan
The first step to selling your property is a plan. You can plan yourself or hire a professional real estate agent to assist you.
Step 2 – Property Inspection
To avoid future surprises, personally, I recommend that sellers consider investing in a home inspection. This will give the seller the current condition of the property and if repairs are within their budget, repairs can be made prior to placing the property on the market.
Step 3 – Make repairs
Curb appeal or 1st impressions are imperative to attracting potential buyers. Yard clean-up and landscaping are an important part of preparing the property for sale. Additionally, any exterior painting to the buildings and/or repairs should be completed prior to placing the property on the market. It’s amazing how investing a few hundred dollars upfront may add thousands to the final sale.
Step 4 – Clean up
At times the seller may not have the funds to invest in a lot of improvements to the property so simple cleaning can make a big difference. Clean up, clean up, clean up. Remove all clutter by storing and/or donating un-needed items. Have a garage sale. If in seller’s budget, seller can hire a cleaning service and/or staging professional to make recommendations to assist them.
Step 5 - Pricing
Once seller has completed property inspections and preparing the property for sale, the most important part is pricing. Effective pricing is where a professional is recommended. Hiring a professional real estate professional to help with valuation, to market the property, and to make any additional recommendations is vital to a successful sale.
Step 6 – Showing property and negotiating offers
Lastly, sellers should make sure their property is easy and available to show and seller should put their buyer’s hat on when selling and remain open minded and realistic during negotiations. Click here to schedule an appointment.