Real Estate Information Archive

- Being pre-approved before you start house hunting is best, and a buyer agent will recommend a lender that will help you begin.  Once you have a mortgage amount, you will know how much home you can afford. 
 

- Realtors® have thousands of property listings at their fingertips! Once you let them know what you are looking for, they comb through those listings and find homes that fit your needs and wants. 
 

- Do you have any idea how to do the research for writing a successful offer on a house or negotiate counter offers you might receive? Your buyer agent certainly does and can save a lot of stress on your part, especially in the case of a bidding battle.   
 

- Your agent will schedule and attend an inspection of the house and will help handle negotiations with the seller to have the necessary repairs performed, have the seller reduce the sale price, or make concessions at closing. 
 

- As exciting as the closing is, it can cause some anxiety, but your Realtor® will have prepared you for what is to come and make sure all of your necessary paperwork and other applicable things are ready. 

- A listing agent will spend a good deal of time making sure your home is priced comparably to homes in your area by analyzing recent sales of similar homes.  Setting either too high or low can deter potential buyers.
 

- Not only does the agent prepare and post the property on the MLS (Multiple Listing Service), they will create a page on their website specifically for your listing, video or 3D tours, and market your home to reach as many house hunters as possible. 
 

- Your Realtor® will work diligently to get the best price for your home. Many agents will even go so far as to attend the appraisal and the inspection, warding off any misunderstandings about the findings in each. 
 

- During any repair requests, your agent will be able to discern what is your responsibility, and what is an unnecessary request by the buyer.  Knowing the difference could save the seller thousands of dollars. 
 

- While your house is on the market, you need to know everything that happens behind the scenes, and a reputable agent will stay connected to you, whether it be by phone or in person. Communication is vital to your home’s sale.  

Nothing shouts “Don’t buy me!” more than an unkempt yard!  If nothing else, keep the grass cut and weeds and shrubbery trimmed. Put a bit more effort into it, and put down fresh mulch in the flowerbeds, and add a pot of flowers to the top step. 
 

No one wants to walk into a house with plastic storage containers stacked up in each room “hiding” the seller’s clutter. When you declutter, get rid of things, or put them in storage if you cannot part with them. Your rooms will appear larger without a lot of stuff in them. 
 

Touring a house that has a grimy stove or mildewed bathtub caulking is a huge turn-off:  no one wants to move into a dirty home. If you cannot find the time to clean the house spotless, hire a professional to do it. 
 

Natural light is important to most home buyers, so window treatments that block light need to come down, cleaned, and stored for moving. Add sheers, blinds you can open, or pull the shades up completely when you know the house is being shown. 
 

Items such as rodent traps or insect baits, should not even be an option for you. If you know you have mice or insects in your home, have them exterminated before you put a sign in your yard.  
 

Wall-to-wall carpeting is not as appealing to buyers today as it was in the past. If you can afford it, remove carpeting that is hiding hardwoods and spruce them up. No hardwood? Have the carpets professionally cleaned, and if you really need to sell, offer a new carpet credit to buyers. 
 

When you know about a problem and don’t bother to make repairs--think dripping faucets or cracked windows--buyers will not be impressed with your house, and if they’re remotely interested, offers won’t be close to your asking price. 
 

Any unpleasant odors will put off most people, and homebuyers will wrinkle their noses as soon as they walk in. Cleaning is important to remove dirt, but you need to clean for odors, too. Follow these tips from realtor.com® for removing any funky smells from your home. 

Energy Efficiency:  Energy-Star windows, smart or programmable thermostat, LED lightbulbs and full-house water heater are all attractive to buyers who are concerned about energy costs as well as those concerned about going green. 
 

Home office:  If there is no room in your house that is a dedicated home office, create one!  Stage a space in the kitchen or living area or smaller bedroom with what appears to be a working spot. 
 

Upgraded kitchen and bathrooms:  While completely renovating these rooms are a possibility, it may not be in your budget. Take a good look at each, and decide what wallet-friendly projects will make them look new: painting kitchen cabinets, new stainless appliances; in the bathroom, new faucets, lighting fixtures, or add pizazz by framing a mirror in glass tiles. 
 

Dining space:  An eat-in kitchen or open-flow kitchen and dining room are what many are looking for, especially families. Kitchen islands with seating will suffice when the budget does not allow for creating space for a dining table in the kitchen. 
 

Organized storage:  Buyers want homes with ample storage. While you can’t create space, you can build space in closets and the laundry room by adding shelving or pre-fab storage systems.  
 

Hardwood flooring:  While not an inexpensive project, consider putting hardwoods or less costly engineered wood in the entryway and living space. 
 

Security:  Front-door video cameras, plenty of outdoor lighting as well as smart lighting features are all great for starters.  

- First and foremost, find a seller’s agent that has a history of quick home sales.  You’ll need to do a bit of research, but if the REALTOR® has the experience, you’ll have a head start on getting your home sold sooner. 
 

- Having your house pre-inspected will save a step during the process and will help you with disclosure issues.  
 

- It wouldn’t make sense to price your house a bit below its value during a normal home sale, but if you want to get qualified buyers interested soon, this may be your best bet. Just prepare to lose some extra cash. 
 

- Consider selling the house at auction, but again, it will sell for a lower price than during a typical sale.  You may even be in an area where your real estate agent is your auctioneer as well, and you can be assured they have your interests at heart! 
 

- Offer buyer incentives: offer cash-backs or credits, i.e.., painting, new carpet, new kitchen appliances;  if the house is in a managed community, cover one year of HOA fees; pay the closing costs; set a closing date and offer a credit for meeting that deadline. 
 

- A major buyer incentive is to go so far as to pay down their mortgage costs with points, as the buyer will have a lower interest rate, saving them money in the end.  Investopedia tells us how seller-paid points can benefit the seller as well as the buyer. 

- Discount department stores are full of inexpensive home decor: faux plants, decorative pillows, framed art and mirrors.  
 

- Sheer window panels cost less than half the cost of new curtains, allowing natural light to shine through, which is a huge plus, as a dark house isn’t on very many house hunters’ lists. 
 

- After cleaning carpets or even refinishing hardwood floors, an area rug or runner to brighten and protect them may be necessary.  
 

- The bathrooms can be given a fresh look with new shower curtains and a set of fluffy white linens in each room. 
 

- Big box stores are the source for inexpensive cabinetry hardware, light fixtures, as well as faucets that you may choose to replace. 
 

- A vase of fresh flowers brightens any room!  Discount bouquets or even single blossoms can be purchased in department store produce sections or flower markets and can last a week or more if cared for properly. 
 

- If you’re planning on placing a bowl of fruit on the kitchen counter, purchase oranges or apples instead of lemons. They can be eaten by the family, which saves money, as they won’t be tossed out! 
 

- On the outside, inexpensive mulch can transform the flowerbeds.  Pots with annuals planted in them are all you need for a splash of color on the front steps. 

- Look for a REALTOR® who has experience with long distance sales and is comfortable handling the process with a seller that isn’t local.  Be available for lots of electronic communication with them. 
 

- Find a tax attorney or accountant with a background in handling out-of-state home sales, because you may have double capital gains taxes to pay.  A professional will be able to walk you through the tax process and let you know if there are any credits you can claim at the end of the year. 
 

- Unless your current home is paid for, you will have to pay as if you live in two homes once you move.  Bridge loans are always a possibility, and you’ll need to be certain your home sells within a certain time period, as bridge loans are short-term.  Learn more about bridge loans, and decide if one is the right fit for your budget. 
 

- Pricing to sell as soon as possible is imperative, so make certain you and your agent are on the same page.  From realtor.com®: “Your for-sale listing will have the most impact as soon as it is published. That’s when you’re most likely to get fair market value for the home—before people start questioning why your house has sat on the market for so long.” 
 

- Consider a remote closing, especially if you are so far away that when it comes time to close on the property, you have to spend a lot in travel costs. 
 

- Consult your insurance agent before you move, as your homeowner’s insurance will need some changes on your policy, as the house will be vacant. 
 

- Leave the electricity on, and have timers on outdoor lighting, and in a few rooms inside.  Keep your security system in place, as well. 

- The lender typically schedules the appraisal with a licensed professional, who contacts the homeowner to schedule a time.  Some appraisers don’t mind the owner being present, but usually work alone. 
 

- Sellers should have a few things readily available:  recent tax information, property survey, a list of what is being sold with the house, any addition construction information, including cost and construction date. 
 

- The assessment can begin before the appraiser even steps onto the property, as they do market information about the house, as well as research comparable sales in the neighborhood, much like the listing agent did for setting the price for the house. 
 

- Like someone viewing the house for purchase, the appraiser takes in the exterior appearance, curb appeal, looks for upgrades or additions, as well as the appearance of surrounding homes. 
 

- The appraiser takes note of how many rooms are in the house, as well as size, building materials and finishes. 
 

- Condition of everything is taken into consideration, including the foundation, exterior finishes, wear on flooring, what shape the windows are in, and all home systems. 
 

- The appraiser will also access the basement, attic and crawlspace to check for water or insect damage. 
 

- Most of the time, the appraisal fee is set in the loan agreement, but in case it is not, the buyer pays the fee in the closing costs. 

Cleaning Pressure wash the exterior siding, fencing, the porch floor, concrete walkway and driveway, and as dreadful as it may be, clean out gutters. 
 

Painting These exterior items may need paint:  front door, shutters, window sills, exterior trim, garage doors, porch floor and railings, mailbox and address numbers. 
 

Replace Lighting fixtures that are dated or weathered should be replaced, and put up new address numbers, or mailbox if paint doesn’t improve their appearance, and get a new welcome mat. 
 

Inspect Go around the house and look closely at exterior trim, shutters, and window sills.  Examine concrete for damage, and make sure walkway pavers are stable and in perfect condition.  Make certain that all landscape lighting or irrigation systems are in working order. 
 

Lawn Care Not only should the lawn be mowed but using an edge trimmer to neaten up the walkways, driveway and planting beds makes a big difference.  Seed any dead areas of the lawn. 
  

Landscaping Weed flower beds, add seasonal easy-care plantings (annuals are best for season-long blooms!) and new mulch.  If a tree needs more than minor pruning, call a tree specialist. 
 

Decorative Remove personal yard flags, add some potted plants on the porch, highlight a shady spot with a simple outdoor bench and a few plants, and clean up outdoor furniture cushions or replace them. 

- The exterior of your home is the first thing a potential buyer sees; paint the siding, if necessary, and make sure the roof is in great shape.   

- Clean up the yard, front and back, and add some seasonal plantings for color. 

- A deep clean inside is necessary.  Wash windows, (inside and out), walls, draperies, scrub the bathroom’s every cranny, and shampoo the carpets. 

- If you have pets or a smoker in the home, a professional clean may be necessary, or even a new coat of paint on the walls. Pet odors and cigarette tar stay on everything.  Ask a friend or neighbor to come in and do a smell test and tackle any issues that they share with you. 

- Deciding what colors to paint the walls shouldn’t be of your personal taste.  Choosing neutral colors is best, and don’t stop at the living areas walls--paint every room. 

- Check all the doorknobs, and if any are sticking or simply not working, replace with similar hardware, or replace all of them.  It’s also important for all the exterior door locks to be in proper working order and replace any that aren’t. 

- Major repairs or restoration should be done by a pro or an experienced DIYer.  If you choose not to make a repair that you know is needed, you’ll have to be up front to your agent, make the needed fix is listed in your disclosure, and be ready to lower your selling price. 

- Sellers want their home to stand out, but don’t overdo it!  Using generally popular fixtures and finishes is better than going with the latest trend. 

- Even if your storage space is limited, make it appear like there’s plenty of room.  Remove seasonal clothing from closets, as well as occasionally used kitchen gadgets from cabinets and counters, and put them in storage with the rest of your things. 

- Consider staging, and if you can’t afford to go full scale, find a designer that will use your furniture and decorative pieces to maximize space, as well as have it looking its best. 

- According to realtor.comⓇ, the listing agent and buyer’s agent split about 6% of the home’s sale price.  You’ll need to calculate how much it costs you to stage and photograph your home, get an MLS number, market the house, take time from work to schedule showings as well as host the showings, do all of the paperwork involved, and contact and pay attorneys and others who are involved in a home sale, and compare it to the commission you believe you’ll give up to an agent.   

- To be fair, the seller should offer a 3% commission to the buyer’s agent.  Otherwise, most agents won’t bring anyone who’s interested to your home for a showing. 

- Sellers are responsible for any mistakes that have occurred once the transaction is in motion.  If you don’t purchase errors and omissions insurance, you may end up paying out of pocket in court or settle out of court for those mistakes. 

- Pricing your home takes more than just an online search for sold homes in your area, and not only can you overprice your house, but you can lose thousands by underpricing. 

- Scammers abound and can cost you in many ways.  These criminals target FSBO homeowners, because the scammers are savvy enough to make their offer look legitimate.   
 

- Beware the owner’s asking price.  Since the majority of FSBO sellers don’t have the experience to set a good market value on their home, their quote will likely be too high. 

- Be prepared to wait some time to see the home.  Most homeowners have full-time jobs, and you’ll have to view the home on their time, with them as your host. 

- If a seller tells you their house is in perfect condition, and you can save money by not hiring an inspector, walk away.  Every house even brand-new houses should be inspected before changing hands. 

- Ask the seller what fees they plan on paying, and in the case that they ask to share the costs with you, it’s time to find another house. 

- Do your own research on the house, make sure the person you’ve talked with is the actual owner, and proceed with caution.  There are scams that involve an empty house, FSBO signs, and scammers who will take your money and run, because they aren’t the rightful owner.