Crown Ridge Properties

Be realistic. Ask for help. Have patience.

It is not always a Seller’s market and patience is truly a virtue in these times.

If you are selling your house, then you are also more than likely going to be buying one too. (see our buyer’s checklist) As you look for a house for yourself, think of how other potential buyers will view your house. You most certainly will want a deal when you buy, and so is the person who buys your house. So be realistic when pricing your house.

Plus, it will have to appraise for your asking price in order for the buyer to get financing anyways. So even if you pull one over on the buyer, you still have to convince the their lender that the house is worth the money too. If the house does not appraise at or below your listed price, it will not sell. So again, be realistic.

With that said, here is a simple list to follow for selling a house.

I – Before you list

Hire an agent: Selling a house is likely to be one of the largest financial transactions of your life. You need a real-estate agent whose experience and commitment you trust. The long-standing justification for paying an agent’s typical 7% commission is that the agent more than makes up for it with their expertise and ability to bring potential buyers to the table. Agents have access to great marketing techniques, and also represent and bring over buyers. They also know the legal requirements and have liability insurance, should something go wrong.

Gather your paperwork: Once you decide to sell your house with Crown Ridge Properties, we are going to ask you for a lot of information. Gather these documents:

• Prior year’s tax bill, utility bills, water and sewer bills;

• Declarations, covenants or deed restrictions on the property;

• Assessments, surveys and plats;

• Sales and repairs of major appliances and building components;

• Inspections for pests or environmental hazards;

• Lists of items to be included in or excluded from the sale.

An agent will also run through the disclosures you need to make on the property, basically any problems that could potentially make the home less valuable.

You can also find out which disclosure forms are required from us by asking. It’s important, because even the most upstanding seller can forget a repair or minor blemish from long ago.

Typically, there is a “Seller’s Disclosure” checklist that is required to be filled out as part of the paperwork in listing a house. We take care of this by providing the document.

Consider an appraisal: You can hire an independent certified appraiser or ask us to prepare comparative market analyses for free. CMAs will detail similar houses that have sold in your area over the past year and will act as a guide is know what houses around yours are selling for.

Price it right: Buyers today are very savvy since most listings are online these days and buyers are able to easily see how much houses are selling for. Most people look online before contacting an agent, and two-thirds hire an agent to represent them. If you are reading this, you too are looking online before contacting an agent.

The biggest mistake sellers make is overpricing their homes. Overpricing leads to price reductions and increased time on the market, both of which can look bad.

When your home sits on the market too long, then your home becomes stale and it looks to buyers like they can negotiate further and the price drops more. So if you set the right price at the beginning, chances are you’ll get closer to your asking price.

Consider a home inspection: As a seller, it is not your responsibility to conduct a home inspection. But for about $300, you can uncover potential problems and fix them before listing your home. We can recommend a home inspector. See what a Home Inspection Checklist might look like.

Prepare your home: Listen to your agent. They all have stories of how homes sold for under their asking price because of some minor repairs, dirt or clutter that could have been resolved for a couple thousand.

Take a look at other homes on the market. Then proceed with your own preparation, in this order of importance:

• Major fixes: You may have trained your eyes to ignore holes or dents in walls that potential buyers will see. Ask Crown Ridge to come oout and look around with you to check for any major defects that could delay or prevent a sale. Check out 10 must-do repairs before selling” and use this checklist from the NAR as you walk through your home.

• Start on the outside: Buyers often do drive-bys before they schedule appointments, so make sure you have some great curbside appeal before listing your house. The nicer your place looks from the outside, the better chance that you will get showings.

• Paint the interior walls and clean the floors: This is the most important inside yet easies thing to do. If you painted your walls flashy green because you liked it, don’t kid yourself and think that everyone else will too. Even though paint is a minor issue, some buyers do walk away from homes because the colors were wrong. Go with soft and neutral colors when selling a home. Light colors typically create an image of more space too.

• Declutter: Get the junk out. Never have a messy house filled with clutter when trying to sell. The more clutter you have, the smaller the space will appear. So clean up your house and watch how it appears to look much more roomy.

• Depersonalize: As mentioned already, unique colors of painted walls may not appeal to everyone. Also, buyers may not be able to get a good feel from a house if too many family pictures are on the walls. They will often times feel like they are in a stranger’s home instead of their own. So removing the personal touch might just be the thing that makes the house feel like theirs when they see it for the first time.

Stage your home: Barb Schwarz, CEO of StagedHomes.com, says 18% of home sellers are now hiring professional stagers, people who spend a day making your home look appealing to buyers. Their fees average $1,800 in the Midwest, $2,800 on the West Coast and $3,800 on the East Coast, and are based on the size of the home and the amount of clutter. You could also gain ideas from many sources online and be creative yourself as well.

II – While your home is on the market

Keep your home show ready: If you’re serious about selling, then your home has to be a sales showroom first and a living area second. Not a neat freak? Follow this simple tip: Keep up on a daily basis. So make your bed every morning and don’t forget to put away your dishes.

Be able to clear out: Have a place to go, as well as somewhere for kids and pets. You don’t want to be home when prospective buyers walk through. It can make buyers feel uncomfortable, restrain them from asking questions and even potentially be a turn-off.

Stay in touch with your agent: Ask your agent where and how your home is being listed and for updates on buyer interest. Establish a system early on for when and how your agent will provide updates. Put reminders in your own calendar to check for updates. We can provide weekly updates or more if needed.

III – After the close

Get ready to move:

Make sure everyone — and everything — important moves with you:

• Hopefully by this point you did not wait to find another house yourself or else you will be looking for a place to lease until you can get into a new house of your own. Find a house, and make sure you qualify for a loan before you sell if indeed you plan to buy.
• Notify the post office, utility and insurance companies, and friends of a forwarding address several weeks in advance.

• Make copies of important records, such as transcripts, employment and financial documents, that you might need immediately or can’t risk losing in the move.

• Find a mover. You can find movers locally by searching the web.