The listing price is a seller’s advertised price, a figure that usually is only a rough estimate of what the seller wants to get. Sellers can price high, low or close to what they hope to get. To judge whether the listing price is a fair one, be sure to consult comparable sales prices in the area. The sale price is the amount of money a buyer paid for a property. The appraisal value is a certified appraiser’s estimate of the value of a property, and is based on comparable sales, the condition of the property and numerous other factors. Lenders determine the amount of money they would lend to Buyers based on appraised value.
The fact is that really major improvements – room additions, total replacements of kitchens and baths, swimming pools, total rearranging of landscaping, etc. – rarely pay off fully in the near term ( less than 2 years). Does that mean that major home improvements are always a bad idea? Absolutely not! In today’s real estate market this is a path that many homeowners take: instead of selling their present home and buying one that already provides what they need, they decide to undertake a major renovation with a goal to live in their current homehappily ever after.Even in this casethere are a few basic rules that you ought to keep in mind just because “things happen”. Rule Number 1 – unless you absolutely don’t care at all about eventual resale value – improve a house to the point where its desired sales price would be no more than 20 percent higher than the most expensive of the other houses in the immediate neighborhood. Rule Number 2 -never rearrange the interior of your house in a way that reduces the total number of bedrooms to less than average number of bedrooms in your neighborhood (for example, it is very hard to sell a house with 3 bedrooms in the neighborhood of mostly 4 or 5).Swimming pools never return what you spend to install them, same goes for sunrooms, and finished basements, but their presence will speed up a process of receiving an offer from a potential Buyer.
On the other hand, small and relatively inexpensive changes like, fresh and neutral paint, removal of wall paper, new counter tops, new appliances, refinished hardwoods or new carpet, can pay off in a big way in making your home attractive to buyers if your decision is to move now.
Keep your home uncluttered, sweet smelling and well lit from top to bottom. Pay attention to details: put away the kitty litter and hide a trash can, place a vase of fresh flowers in the hall, pop a batch of cookies in the oven, have your carpets cleaned and exterior presser washed. Let your agent check the house before you accept any potential buyers.
Keeping your landscape pristine, and adding creative touches to your yard such as colorful annuals, will create an immediate impact on passers-by and potential buyers.
Presenting your home to potential buyers is a job that Buyer’s agent will take care of for you. Buyers feel more comfortable discussing the property with their agent if you’re not there. Moreover, your agent will know what information will be most useful in representing your interests when speaking with prospective buyer or Buyer’s agent.
A good broker can help you decide which expenditures make sense and which don’t, and can save you a lot of money in the process.
There are 3 things, which will sell your home: location, condition, and price. Although there is really nothing you can do about your location at this point, you can always improve conditions (please read above) and price your home that it will either sell in less than three weeks (3 weeks is a magical number) or sit on the market. By the end of a day it’s all in the PRICE.
If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.
An experience real estate agent will effectively evaluate your home’s market value through a process known as Comparative Market Analysis (CMA). Taking a look at assets, such as a bigger than normal living spaces, a fantastic view, adjacent city parks,school district and other attractions, the agent will begin to compare your home with similar properties, called “comparable,” that have sold in the area within the last few (time varies for different markets and different time of a year) months. Typically, it is a realistic price range that will ensure you top dollar and a reasonably quick sale.
Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help your agent get a better feel for how to best evaluate and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and successful sale.
In the states of North and South Carolinas every seller has to complete a Residential Property Disclosure (there are few exceptions).
An offer is usually made in the form of a written contract prepared by a buyer’s agent. All offers for your property will generally first be presented to your agent, and your agent must present all offers to you. Usually time is of the essence in negotiating an offer. There are often strict deadlines, which must be met.
In our market it takes between 45-60 days to close on a real estate transaction. On the day of closing everything shall be on a truck, because new deed is recorded either the same or the next business day and Seller does not come back to the house anymore.