Selling your home can be a very challenging experience in this market. You want to establish a relationship with Realtors who will help you through the difficulties of that process. Meg & Tom combine over 45 years experience as top producing agents with the Twin Cities #1 company Edina Realty. Their most important goal is to make your transaction as worry free as possible, communicating every step of the way so you know what step the process is at and you feel confident the sale of your home will be a success.
The Listing Process
There are several things involved to prepare your home for selling:
* make sure any city inspection is done prior to listing – and any necessary repairs are done before closing
* providing suggestions for staging if necessary – from simple re-arranging to complete room accessories
* reviewing all of the listing papers necessary for MLS and determining how showings will work
This is the single most important factor that will control the time it takes for your home to sell. Some sellers don’t realize that buyers control what their home will sell for – it’s “the market”. In 2011, buyers are still looking for “a deal” and will simply not make an offer if they don’t feel the price is fair. The average market time for homes sold in 2010 was 140 days, so don’t expect a fast sale unless your home is priced below the market.
Meg & Tom will do a market analysis to determine the price of your home. They will review this report with you and show you a “net proceeds” statement showing all of your selling expenses. The most important factor to remember is that it doesn’t matter what Meg & Tom or you think about price – at the end of the day, the home will sell for what a willing buyer is willing to pay for the home. Price, closing date, earnest money and contingencies all affect the sale of your home.
Meg & Tom will review the marketing they will do for your home with their market analysis. This includes professional color brochures in your home and in the info box at the For Sale sign. Attached to the brochures will be information about your home, your seller disclosure, school information and park or recreation information (including nearby golf courses or parks). They will provide feedback to you as soon as the showing agent replies and pricing strategy will be based on that feedback. Open houses are done around any family events and often will lead to a buyer who might visit the open.
When an agent contacts us with an offer, we will arrange a time to get the offer and forward it to you. We will often know ahead of time that there is interest when an agent asks specific questions about your home. We will explain the offer and its benefits and then review all of the expenses involved in selling your home. The expenses are an estimate and sometimes numbers change a bit by closing; however, our estimate will be accurate.
You will have three choices with the offer – accept, reject or counter. Any counter offer will be done in writing. When a price has been agreed to, Meg & Tom will make sure all signatures and initials will be completed and copies of all paperwork will be provided.
An offer may come in on your home that is contingent upon the sale of the buyer’s home. In other words, they can’t afford your home without selling theirs first. This can often be a stressful decision to make and there are questions that need to be asked. Meg & Tom will help you through this process. We want to know where the home is, how saleable is it and will their price be reasonable. Showings on your home will also be affected because our appointment center must now tell another agent agent wanting to show your home that it is “sold contingent” and that agent may decide not to show your home. All of these factors must be discussed and understood before a decision is made to accept a contingent offer on your home.
Final Steps to Closing
Just because an offer has been accepted doesn’t mean the sale is done. There are several things that must happen before closing. After acceptance, the buyer will be doing their home inspection and they must accept that inspection to have a “final sale”. Any offer can be re-negotiated based on the results of the home inspection. After the inspection, a buyer’s mortgage company will do their appraisal and the home must appraise for at least the sales price. Meg & Tom will communicate all issues during this time period to assure there are no surprises and the home sale proceeds to a successful closing.
Final Thoughts on Selling Your Home
* buyers and agents may set up showings on your home from 24 hour notice to 20 minute notice
* most buyers look at homes today to find what is wrong about your home, not what is great about your home
* put all valuables away including prescription drugs
* open your blinds – it’s always best to see a bright home
* try not to take feedback personally – buyers and agents don’t like feedback and show it when they reply with negative things about your home
* be patient – your home will sell – it may take longer than you expected – it’s just based on price, condition and your motivation