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Selling your home for the most amount of money in the least amount of time, with a minimum amount of hassle is my goal. This page will explain many aspects of the home selling process to you. You may wish to look at some of my other pages for additional information!
Selecting your Realtor®: Perhaps this is the most important step to getting the most money for your home quickly. There are many active agents in Colorado. The agent you list with can make you or break you. When choosing an agent, always remember to look at the agent's credentials - not the agent’s company’s. Hiring the best agent you can find should result in you walking away from closing with more money than hiring a cut-rate agent or even if you sold your house yourself!
I strongly recommend that you get an experienced agent. This experience level means that the agent is a top-producing agent and probably has the ability to solve problems. Your agent should also be able to explain marketing, financing and mortgage options to you in detail.
Naturally, I hope that you would consider me as your Realtor®. I am ready to make your home buying experience rewarding, fun and hassle free. I offer you strong innovative marketing, tremendous experience and a personal attention to your needs.
PRICING YOUR HOME:
This should be the first thing your agent discusses with you during the initial client consultation. The agent should discuss what similar properties have sold for in your area. The agent should make adjustments according to appraisal standards to help you derive the predicted selling price and list price of your home. SOLD properties are generally the only accurate predictor of value. Contrary to popular belief, the following things have no effect on what your home is worth in the current market: How much the neighbor has his house listed for; How much you’ve got into it; What you paid for it; How much you have to get out of it. Again, the only true indication of value is what buyers have recently paid for similar properties in the same or comparable location.
Keep in mind, that many of the repairs and improvements you may have made add little to the value of the house in relationship to the cost of the items. If you have done repairs, put in new carpet, put on a new roof, or repainted, you have restored the property back to good condition. It was worth less when you started - you just brought it back up to market value.
If you have added a pool, a room, perhaps installed a sprinkler or expensive carpet, you should realize that on average you will normally realize about a 25% return on your money on these items. For example a $20,000 pool often returns only $5,000 on an appraisal. Most of the money you spent in improvements of this nature went towards your enjoyment of the improvement, not towards the value of the home.
In order for my clients to set a reasonable price on their homes, I offer them a free Broker’s Price Opinions. I can recommend improvements to your property if necessary. I will show you what appraisal adjustments are done for the various features in your home. You will get a straight forward accurate assessment of your home’s value. If you would like a free Broker’s Price Opinion, please call for a free consultation (719)-510-4445 or (800)620-7325 or click on "Guest Book"
Be aware that many real estate agents do not know how to properly value a home. If anyone says that homes sell for "xxx" dollars per square foot in your area, and attempt to use that as the main determinate of value, they probably don’t know what they are doing. There are many other factors that help determine the value of a home. In fact, differences in square footage are typically adjusted at 40%-60% of the price per foot of the comparable property.
Beware. Some agents will quote a high price to knock their competition out so that they get the listing. This is EXTREMELY unethical and unfair to you!.
The next important part contributing to the sale of your home is condition. The better the condition, generally the better the home sells. The property should have no obvious defects, the heat, air-conditioning, plumbing and electrical systems should all be in working order. In Colorado, as well as most other states, you must disclose any items not in working order, and any material defects that you are aware of, to a potential purchaser prior to accepting an offer on your property.
Cosmetically, your home should be in good shape too. Paint that isn’t peeling, soiled or strangely colored is a good start. Touch up any bad paint as well as scratched up woodwork. The carpet and other floor coverings should be clean, not dated and be a neutral color without much wear. The yard should be kept cut and edged. The bushes should be trimmed. There should be no trash lying around in or outside the house. Window shades should be opened for property showings and all the lights should be turned on as well. Remove as much clutter from the house and counter tops as possible. Remember, cleanliness sells houses. Please call me at 719.510-4445 so I can visit your home and make specific suggestions.
The main purpose you hire your broker for is marketing. Many agents practice the 3 P’s - and nothing more. By the way the 3 P’s are, “Placing it in MLS, Putting up a sign and Praying that it sells!” You may have to do all those things, but the successful agent will to do much more.
Most agents hate to advertise! Normally, you need advertisement and a direct marketing effort to get your home sold quickly. Look for an agent that advertises a lot and guarantees that your property will be continuously advertised until sold. Other marketing tools to look for are direct mail and Internet advertising.
I would be happy to consult with you about what type of marketing should be conducted for your particular property. I aggressively market my clients’ properties. If you would like a free consultation, please call me at (719)510-4445 or (800) 620-7325, or E-mail me. People from outside our market area will be referred to an outstanding professional that specializes in properties like yours in your market area!
You’ve done everything right! You selected an aggressive agent and you have followed his or her recommendations. Now, as a reward you have an offer on the table!
First and foremost, don’t get hung up on little details! Look at the big picture, namely the bottom line! Can you live with it? If you sign now, you are on your way. If you change the littlest thing, you have rejected the buyer’s offer and the buyer can walk away!
Let’s say the offer is just absolutely out of your comfort range. Your agent should ask the buyers or their agent why they offered what they did. If your house wasn’t priced to high and it was in good condition, there probably isn’t a good reason for the low offer (if they are serious, they’ll probably come up). If you understand your buyer’s motivation, you can understand how to structure a counter-offer so that it meets your needs and the buyer’s.
Perhaps the buyer is low on cash and comes in $5000 low and asks you to pay $3000 in closing costs. That is $8000 off list price and $4000 below your comfort level. Don’t get wound up about taking away the closing costs! Simply raise the price $4000 or maybe even $5000. This meets your needs and the buyer’s primary need to put up as little cash as possible.
Understanding the buyer’s position is critical in negotiations and if your agent doesn’t know the buyer’s position, have him find out before you do anything!
Once you reach an agreement with your buyer, you are hopefully on your way to a successful closing.
APPRAISAL & INSPECTIONS:
Most contracts buyers enter into have provisions for property inspections and financing. Financing will require an appraisal to determine if the property is worth the selling price and to be sure it conforms to the minimum property guidelines for the loan the buyer is getting.
The buyer’s inspections typically make sure everything in the property is in "normal working order". Most purchase agreements have provisions for the following inspections: Termites, heating, air conditioning, plumbing, roof, structure, windows, electrical systems, drainage and built in appliances.
The purchase agreement will contain the condition these items must be in and a maximum amount that you will be liable for repairs. If the total of repairs exceeds the maximum in the purchase agreement, you will have to renegotiate with the buyer.
When you initially list your home, or after it goes under contract your agent will order the title work through a title company. The title company will make sure all liens are clear at closing and that you convey "marketable title".
After the buyer’s loan is approved and everything else is in place you should be ready to close on your home! Most closings occur within 30 - 60 days of the time you reach agreement with the buyer. Typically, you must vacate the home prior to closing. The closing is the final step.
I specialize in helping people buy and sell residential real estate in Colorado. My goal is for my clients to have an enjoyable "hassle free" real estate transaction experience. I would like to do business with you. For more information or a free home selling packet, please call me at (719) 510-4445.
Thank you for visiting my web page. I am happy to be able to serve you.
IMPORTANT: If you are buying or selling elsewhere, please contact me and I will refer you to a competent, caring and VERY EXPERIENCED agent to help you get the most from your real estate transaction.