For most people, buying and selling a home is the single largest purchase and investment they will ever make. It’s important to understand some of the selling basics.
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PRICING YOUR HOME – the value of a home fluctuates based on things such as:
• The supply of homes on the market • Your home’s location
• Amenities in your neighborhood
• The condition of homes near you and in the neighborhood
• The curb appeal of your home
• The structural conditions that may require repair
• Superficial repairs not completed that could detract from making your home appealing
• The emotional appeal your home has to buyers – a clean, neat home gives the impression of being well-cared for
• The selling price of homes nearby that recently closed that are similar to your property
RECEIVING AN OFFER – things to consider while negotiating:
• How close to your asking price is the offer?
• The date the buyer is proposing for closing
• Is the buyer pre-qualified?;
- this includes the type of loan the buyer is qualified for and how much the downpayment will be
• Repairs that need to be made to your home
• How much earnest money is proposed?
• The time frame for due diligence
• What special stipulations are being requested? (termite letter, home warranty, etc.)
• What closing costs is the buyer asking you to pay or indicating they are willing to pay?