1) Checklists of some internal and external
things a buyer may look for when inspecting your property!
2) General things to do / Things to know / Hints for Sellers:
FIRST IMPRESSIONS LAST
Donít place your home on the market before it is ready, like many people do.
From the moment prospective buyers arrive, everything they see makes an impact on their assessment of your home. Examine the exterior of the house, curb appeal is hugely important. Gardens and lawns should be well presented, rubbish should be disposed of, paths kept clean, toys and garden tools stored away, remove worn/frayed rugs which make the house look run down etcÖ A good first impression can overcome the annoyances the buyer encounters once inside.
RECOGNIZE / ANTICIPATE MAJOR DEFECTS
Major repairs on roof, heating system, oil leaks, septic tank problems etc.
It is easier and more profitable to correct these problems before hand thereby
depriving potential buyers from using them as a bargaining chip or to reduce
the asking price.
Remove all clutter and watch your house expand in size. Neat, well-ordered
cupboards, wardrobes and pantry show that space is ample. It may sometimes
be a good idea to store excess furniture or clutter that isnít necessary at another location away from the subject property to really give the impression of space.
DON'T WASTE MONEY
If you spend a lot of money painting, carpeting or adding a patio, you will
want to add this to the price. Buyers, on the other hand, may not share your
taste, even though what they are getting is like new. Be guided by your agent
as to what is necessary and what is not.
LITTLE THINGS - BIG DIFFERENCE
On the other hand, complete all minor repairs. Sticking doors and windows,
loose door handles, dripping taps or peeling paint may affect the speed and
value of your sale.
WORKING WITH KIDS & ANIMALS
When buyers are there, keep children and pets right out of the way. Taking them for a walk is often a great idea.
TAKE A BACK SEAT
Don't have too many people present during inspections and avoid trying to "help the salesperson out". Your sales consultant knows the buyer's requirements and knows which features of your home to emphasize to different purchasers. Never apologies for the condition or appearance of your home. This only emphasizes the faults. Never discuss the details of the transaction such as price or terms. Leave this to your agent. Remember, their experience and training enables them to better qualify purchasers and negotiate the best price. Furthermore, negotiations can be kept on a businesslike level when emotions are not involved.
MAKING THE HOME AVAILABLE FOR SHOWING
A home canít be sold if no one can show it. Some sellers donít like to leave
their keys with the broker and ask the agent to call whenever a prospective
buyer wants to tour the home. Many owners leave their property on weekends,
so it is important to arrange some way that agents can bring buyer to look
during these busy periods when buyers have time to look.
The home must be show able and available for showing. It is not an easy process
and can be annoying, but your offering a product. A good broker is sensitive
to your personal time constraints and works within those boundaries to protect
your privacy while showcasing your home as much as possible.
CREATE A PLESENT ATMOSPHERE
When buyers walk into a home you want them to be able to picture themselves
living there. Buyers canít concentrate if there are distractions such as a TV, stereo blaring, babies crying, dogís following them. Selling a home is not like living in one. Everyday the beds need to be made, dishes done, laundry out of sight. While the house is on the market, the owner should think of it as living in a showroom rather than living in a house.
- The sweet smell of success
Smokers and dog owners beware: nothing makes a buyer want to get out of a property quicker than stale air. Room deodorizers, fragrant candles and open windows will all help. Any home will be enhanced by the smell of a cake or apple pie baking, or freshly brewed coffee. Often the effect is subliminal; dayís later purchasers don't always realize exactly why they got such good vibes from your home.
- A warm welcome
A warm, comfortably heated home has a real feeling of cosines on a cold day. Alternatively, make sure your home is well ventilated or cooled on hot days.
- Highlight your home.
Nothing improves the atmosphere of a home more than brightness. Open all the curtains and switch on strategic lights to brighten up gloomy spots prior to the arrival of prospective purchasers.
It is a sellerís worst nightmare, a buyer is found, a price is agreed on, and a contract is signed. A month later, the buyerís mortgage application is rejected because of insufficient income. The house goes back on the market and you start all over again.
A good broker has mortgage agents and bankers to refer clients to who run income checks and who may in fact provide the buyer with affordable and qualified mortgages. This is protection for you. Pre-qualification reduces the risk that a buyer will be turned down by a lender.
DO NOT TAKE COMMENTS PERSONALLY
A tactic used by some buyers is to criticize aspects of the house. Some sellers
take these comments personally, defending their homes as they would their children
and this can develop resentment toward the buyer. Do not let this harm negotiations
and some sellers might be provoked to reject an otherwise qualified buyer.
Sellers must learn to detach themselves at times if you sense a critical buyer.
BUYING A HOME BEFORE THE CURRENT ONE IS SOLD
This can create a problem unless the seller doesnít need the sale proceeds to buy another home. Discuss looking for a home while your trying to sell yours; the pros and cons and risks.
DIFFERENCE BETWEEN AN EXCLUSIVE RIGHT TO SELL & EXCLUSIVE AGENCY?
An Exclusive Right to Sell Ė the realtor has the right to advert, negotiate and sell the property for a certain period of time and earn a commission. Exclusive Agency - is a written agreement between an agent an owner for a period of time, while allowing the owner the right to sell his or her property in addition to the realtor, however if the owner sells it they do not owe the realtor any commission.
WHAT HAPPENS WHEN AN OFFER IS RECEIVED?
It should be in written form with full terms. Then depending on the offer,
it should be accepted, rejected or a counter offer can be made to negotiate
WHAT HAPPENS WHEN THE OFFER IS ACCEPTED?
Attorney names are exchanged. Engineer and termite reports are done by the
buyer. If everything is completed and satisfactory after reports, the sellerís attorney generates a contract.
WHAT IS A FOIA (Freedom of Informatio Act)?
Freedom of Information. This can be gotten by anyone. The sellerís agent or the seller should go to his local town hall and give them the section, block and lot of the home in question. Within two or three days you can come back and look over the file. It can contain:
- Open permits
- Floor Plans
Checking these things is a good way to prevent surprises.
See Preparing Yourself for Closing
These are all ideas and suggestions so that the selling process is as smooth
and as successful as possible. But most importantly all these factors help
to get you the maximum price possible for your home.