| Before considering selling your
home yourself, ask one simple question.
Am I going to have the time needed to sell my home
- even if I just cover the basics?
The Basics
Complete an extensive research of local market
conditions, including:
the listing and selling price of all houses
in our area for the last six months, the listing
price of houses currently on the market, and
the listing prices of houses that were on the
market but did not sell.
Put together a marketing plan.
How will you market your house to
real estate agents? Most buyers use a real estate agent,
so marketing to real estate agents is essential.
At a minimum, you'll want to send a letter
and sales flyer to all real estate agents within
a 30 mile radius.
How much money can you afford to devote
to advertising? Call the local newspapers
to determine how much it will cost for advertisements.
You'll
want to run daily and Weekend ads in the newspaper.
Who will create your sales flyers? Buyers
expect fact sheets to take with them when they
drive-by or tour a house for sale.
Where will you place signage? In
addition to your front yard, is there areas
leading
in to your neighborhood where signage would
be appropriate? What are the local sign ordinances?
How will potential buyers find information
about your house on the Internet?
The latest statistics show that 80% of
all home buyers begin their search on the internet.
That statistic is particularly true for South Lake
Tahoe, since most buyers are from out of the area.
You'll want potential buyers who begin their house
shopping
on the Internet to find your
house. Be sure to build a website to help sell
your house.
Who will take inquiry calls and schedule
appointments?
You'll want someone to be available to answer
inquiry calls and schedule appointments.
Be sure to schedule showings as quickly as
possible - even the same day.
Pre-qualify buyers before showing
your house. Confirm that the potential
buyer has pre-qualified for a mortgage loan.
If the buyer is buying with cash, confirm that
they have the necessary resources.
If the purchase is contingent on the buyer
selling their own house, confirm that the buyer's
house is on the market. (You may also want
to determine how long the buyer's house has
been on the market.)
Negotiations, Contracts and Closings
Are you prepared to negotiate the contract?
Do you know what the legal responsibilities
of the seller are in your area?
Who will write the contract? Will you need
to hire an attorney? If so, what will be the
attorney's fees?
Tips: In addition to the sales contract, you'll
need to complete a number of local Seller's
Disclosures as well as a Lead Based Paint Disclosure.
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