Selling Your Home

So you've decided to sell your home. Perhaps you're taking a job in a new community and you need to sell. Maybe you've outgrown your existing home and you need to move into something larger. Perhaps your family has grown up and moved out and it is time to downsize into a smaller home. Whatever the reason, you've decided to sell your home. What follows are some useful hints and ideas to make the selling process easier.

 

Basics Are Just the Beginning
When you put your home on the market, a real estate agent may compile comparative pricing of homes in your area, post a sign in your yard and place your home on the Multiple Listing Service (MLS). Most real estate agents will offer these industry standard services. Don't settle for basic. You've come to a full-service brokerage and we are a team that provides full-service!

• Our standard services are handled with exceptional care and expertise.
• We offer exclusive services and a customized marketing plan developed specifically for you.
• Our combined 30 years in the real estate business, and our diligence to improve the service we provide, nets you a team of experts you feel comfortable and confident to work with and refer others as well.

 

Setting the Standards of Professionalism
When you list your home with us, you can rest assured that behind us is a team of experts who are well trained to support your interests. Our professional support team shares our commitment to a successful transaction.

Pricing Strategies
Pricing your home is a complex task that requires the expertise of an experienced real estate professional. Consider the following:

• If the listing price is set too high, potential buyers may be deterred from considering your home.
• Arriving at the optimal price requires evaluation and understanding of current market conditions, and the marketable features of your home.
• The closer your home is priced to fair market value when it first comes on the market, the more likely it will sell quickly at the highest price.
• The higher your home is priced above market value, the fewer number of buyers will look at it.

 

We will advise you of many factors when assisting you in determining a listing price for your home. Some of these factors include:

• Determining the selling price of recently sold properties with attributes similar to yours.
• Arriving at a listing price that is attractive enough for buyers to request showings and make acceptable offers.
• Determining what properties are competing for the attention of buyers right now.
• Determining what properties have not sold. This is a good indicator of what prices buyers are unwilling to pay under current market conditions.

 

Bringing Buyers to Your Home
Understanding where buyers come from allows agents to market your home more effectively. While buyers use a variety of information sources to learn about homes for sale in their target neighborhood and price range, the vast majority will discover your home with the assistance of a real estate professional. According to research by the California Association of Realtors®, 72% of Internet home buyers and 63% of traditional buyers were first exposed to the home they purchased by their real estate agent. Therefore, we will use a comprehensive plan that includes networking with colleagues throughout the area to position your home to the right buyer.

 

Marketing Your Home
The more exposure your home receives, the more opportunity you'll have to achieve your financial and time-oriented goals. We attract qualified buyers by using the following methods:

• Internet exposure on every available site, including MLS (Multiple Listing Service), Zillow, Trulia, Realtor.com, Intero Real Estate, Craigslist, Facebook, You Tube and many more!
• Full-feature video with voiceover showing all the wonderful aspects of your home and neighborhood
• 25 professional color photos (or max amount) used on all mentioned sites
• Color Property Flyer highlighting features of your home to distribute to the brokerage community, the neighborhood and potential buyers.
• Other Brokers - We cooperate with and invite other brokers in the community to tour your home in order to find a buyer.
• Personal phone calls to our buyers and contacts
• Relocation connections - Prospects for your home also come from relocation services, corporations, executive search firms and fellow associates who keep track of potential buyers and maintain relationships with former clients.
• Referral Network - Sales meetings allow sales associates to present new listings. Other sales associates then refer to their client databases to identify potential buyers and arrange viewing appointments.

 

We will provide you with periodic status reports including buyer reactions to your home, allowing us to continually evaluate and reassess our marketing strategy.

 

Skillful Negotiation
When offers are presented, we will advise you and help obtain the best possible price and terms. Understanding the various standard contract forms and the vast array of contractual issues is key to negotiating the best terms to meet your individual needs. Making sure buyers are qualified and knowledgeable about available financing alternatives is of the utmost importance in negotiating a successful sale. We will promote your interests and assist in developing a clear and binding contract.

 

Transaction Management
Many details must be attended to before a sale becomes final, including inspections, loan documents, contingency removals, and insurance. We know how difficult and time consuming this process is, so we will handle scheduling inspections, reviewing documents, and making sure all of the required disclosure forms and pamphlets are provided in a timely fashion.

 

 

Keys to Smart Home Buying
Buying a home is one of life's most important investments and exciting adventures. Even experienced buyers, however, can find this complex process a bit overwhelming. We will guide you every step of the way. In addition to the crucial step of locating and presenting properties that match your search criteria, we will help you along the path between "I want this house!" and "I own this house!"

 

The Search Begins
You should start your search by determining your price range, and how much can you afford. While lenders use different formulas for arriving at this figure, each person's financial picture is unique and we'll be happy to put you in touch with a lender we trust to evaluate your buying power.

 

Understanding the Asking Price
Many factors influence the price that a seller expects to get for their home. While only you can decide how much you feel comfortable offering for a property, we can gather critical information for you regarding the factors that impact how much you should consider paying for the home. These factors include:

• How long the home has been on the market
• If the price has been reduced
• The prices for other comparable homes in the area
• If there are multiple offers
• Other items that might be included in the sale - furniture, hot tub, etc.
• The "list to sale price ratio," an indication of how competitive the market is for homes in this area.
• Why the seller is selling
• Whether the seller is offering an assumable loan or financing
  

 

Getting Your Mortgage Application Started
Being pre-approved by a lender can put you in a much stronger negotiating position, because it shows the seller that you are a committed buyer, financially capable of buying the property, and more likely to close on the property. Keep in mind that pre-approval is different from pre-qualification. Pre-qualification is merely an estimate of what you may be able to afford. Pre-approval occurs when the lender has reviewed your credit and believes that you can finance a home up to a specific amount. However, neither pre-approval nor pre-qualification represents or implies a commitment on the part of a lender to actually fund a loan.

 

Here are some of the current documents you'll need to get started:
• INCOME 
  - Current pay stubs 
  - W-2s or 1099s 
  - Tax returns, usually for two years
• ASSETS
  - Bank statements
  - Investments/brokerage firm statements
  - Net worth of businesses owned (if applicable)
• DEBTS
  - Credit card statements
  - Loan statements
  - Alimony/child support payments (if applicable)

 

Financing Your New Home
The financing process can take anywhere from 30 to 45 days. We'll be involved throughout the process to help it run smoothly and quickly. The basic timeline for what will happen along the way is as follows:

• You submit the completed application and any required supporting documentation to the lender before you start the home search process.
• The lender will order a credit report, and verify your employment and assets.
• They will review with you what you can qualify for, what the current interest rates are, and help you determine the amount you're comfortable paying for a home.
• They'll provide a good faith estimate of closing and related costs, plus initial Truth in Lending disclosures.
• The lender will approve the loan, and issues a letter of commitment. You'll then start the home buying process with your Realtor.
• Once in contract on a home, the lender orders an appraisal of the property.
• The lender will work with the underwriter to meet any conditions that come up to fund the loan. Once complete, you sign the closing loan documents and the loan is funded
• The lender sends their funds to escrow.
• All appropriate documents are recorded at the County Recorder's Office, the seller is paid, and the title to the home is yours.

 

Negotiating the Offer and the Contract
You may make your offer subject to certain terms or contingencies, including securing of financing or perhaps the sale of your current home. You may also make the contract subject to various inspections by both you and professional inspectors. Most contracts include some standard provisions, such as property taxes, insurance costs, utility bills, and special assessments, which will be prorated between buyer and seller. Others outline what happens if the property is damaged before closing, or either party fails to go through with the sale. We will review with you every aspect of your offer. Together, we will plan a strategy for getting the most advantageous terms for you - the buyer - at the price you are willing to pay for the property.

 

Inspections
Real estate contracts often contain contingency clauses that allow buyers to inspect the property. Certain inspections are required by lenders and others are a matter of observation and what is particular to a region or area. Which party pays for these inspections is negotiable. The two most common types of inspection are:

• Wood Destroying Pest and Organisms (Termite) Inspection
  This inspection identifies existing or potential pest, dry rot, fungus and other structure-threatening infestations or conditions. The initial inspection fee covers only those areas which are accessible to the inspector. Inspections of inaccessible areas cost more and are subject to an estimate by the inspector. These inspectors must be licensed and can give estimates to correct noted problems, can make the suggested repairs, and can certify that the work has been completed.
• General House Inspection
  This inspection identifies material defects in the essential components of the property based upon a noninvasive physical inspection. There are no licensing requirements for someone to be a home inspector. These inspectors are not allowed to give estimates to correct noted problems, nor can the inspector perform any of the repairs.

 

Title Search Process
A title search spells out who has the right of ownership for a property. It is considered "clear" if there are no claims or liens against it. In order to make sure nothing will prevent transfer of the property to you, a title company will conduct a title search and prepare a preliminary title report that indicates what recorded matters affect the title to the property and if the title insurance company is willing to insure the title. At the close of escrow, the title company will issue an Owner's Policy of Title Insurance to protect you against losses that might arise from covered claims on the title. For more information, click here.

 

Preparing For The Closing Costs
A home purchase is a complex transaction involving many parties and associated fees. In addition to your deposit and down payment, there are a variety of other costs involved in the close of escrow, including:

• Loan origination fees, appraisals, and reports
• Surveys and inspections
• Mortgage insurance
• Hazard insurance
• Taxes
• Assessments
• Title Insurance, notary, and escrow fees
• Recording fees and stamps

 

The lender will provide a good faith estimate of these costs prior to the close of escrow, so that you will know in advance what to expect. Some of these costs may be negotiable items with the seller. Naturally, we'll walk you through each item in your good faith estimate to make sure you understand every detail.