A
normal closing date is 30 to 45 days
from the original offer date. Remember
it can be very costly to close at
the beginning of a month! Closing
dates are a negotiable item. Marketing
time all depends on the condition,
terms and area of your property.
Also marketing time has a lot to
do with how the market is in your
neck of the woods.
What are normal "closing costs"?
When
you hear the phrase "closing
cost" people tend to think this
is one price, however closing costs
consist of several items. Some are
as small as recording fees, others
as large as discount points. The
basic rule of thumb is that your
closing costs will be close to 2%
of sales price. Remember closing
costs are also negotiable, however,
this depends on the type of financing
you and the buyer have worked out.
It is always best to know what your
costs could be before putting your
property on the market.
What
can I do to make my home more desirable?
If
it's possible take time to look at
new builder models. These companies
have spent several thousands of dollars
trying to see what pushes buyers'
buttons. Have a neighbor or a friend
critique your home from the curb
to the back yard. You tend to overlook
items when you have lived in the
home for any period of time. A home
looks bigger when it is brighter,
shows better when there is less clutter
and sells faster when it smells better.
Should I wait till I find a home?
Depends:
How is the market in your area? What
is the time on market? What financing
terms are you giving? In a good market
sellers will not look at an offer
till the buyer's home is sold. However,
in a bad market it might be several
months before you sell your property.
Notice the homes in your area: are
they selling quickly or have they
been on the market a while? Remember
- if your property is sold or in
escrow you have a lot more bargaining
power.
Just a few of the differences between
selling your property yourself
or using a major real estate company!
MAJOR COMPANY
Qualified
buyers
It
costs nothing to use a REALTOR to
purchase a home and most people don’t
understand all the legalities of
the buying process, so they use licensed
Real estate agents.
Out
of state buyers don’t have time to
shop, they use a Realtor.
Major
Companies have hundreds of houses
to show.
Know
the people they are contracted with.
Know
every aspect about the legal part
of real estate.
YOURSELF
Unqualified
buyers
Bargain
hunters; people know you are
trying to save the commission
so they take it off the top of
your asking price.
Buying
or selling a home is an emotional
process. Most people prefer to
have a third party involved.
You
only have ONE home to show them
Big
security risk
These are just a few differences. Ask your Real Estate
advisor for even more advantages
to using a large Real Estate Company
DID
YOU KNOW? You can receive two offers
on your home. One for $150,000 and
the other for $142,000 and the money
in your pocket could be less on the
150k offer. This is one of the biggest
transactions you will ever have.
Don’t make a costly mistake. Know
your costs. Don't be surprised at
the closing.
What
does using a Realtor cost? When do
I pay them? It costs you nothing
to use a licensed real estate agent
to market your home until you are
happy with an offer you receive,
you accept it, and the transaction
closes. Most qualified buyers don’t
always understand all the paperwork
and legalities of the real estate
business, so they have a licensed
REALTOR to handle the whole transaction.
Besides it isn’t costing them any
up front money. Wouldn't you, as
a seller, also prefer to have professional
representation?
