Thinking About Selling a Home?


Thinking about selling a home?

Before you place a for-sale sign on your home, review the following check list with a licensed professional:

·      If you are under a relocation check with your company relocation department for benefits and restrictions.

·      Interview and select one Realtor to represent you as your exclusive   Listing Agent”, and communicate openly with your agent.

·       Why are you selling? Discuss this with your agent.

·       What is your time frame?

·       Will you be purchasing a home too? Your agent can assist you in and if necessary screen out-of-area agents for you.

·       Do you have alternative living arrangements available if necessary?

·       Do you have pets and if so how will they affect the showing of your home?

·       Do you have children? Your agent will assist you with discussing safety concerns and transition dialog.

·       Do you know how your home compares to recently sold homes and those currently on the market?

·      Understand the purchase contract before you list your home for sale. This will allow you time to obtain further explanation of terminology and time restraints. And if necessary, consult your CPA or attorney well in advance.

·       Know what the Local, State, and Federal departments require of you in regards to disclosure laws. Your agent will discuss this with you.

·       Ask your agent why it is important to disclose instead of with-hold.

·       Understand how your credit may affect your sale and next purchase and clear up any discrepancies before the 11th hour.

·       How many mortgages do you have on your property, including equity lines of credit? Do you have prepayment penalties on any of your mortgages? Discuss this with your lender and agent.

·       When you are ready to review an offer, set aside quiet time to go over the contract. If necessary arrange for a baby sitter. 

·       From the time you are under contract until you actually close will be depended upon your purchase contract time line. Typically a property will close in 30 to 60 days. 

·      How soon can you expect to receive an offer on your home? The condition, market, and listing price are key factors. Your agent will discuss this with you.

·      Do you know how much you expect to net from the sale of your home?

·       Do you know if you be will responsible for tax withholding which may affect your net proceeds?

·       Is your home a rental?  How long have you owned this home? Do you need information on a tax deferred sale?

·       How do you hold title?   What's on your Title Report?

·      Have you had any homeowner’s insurance claims on your property? Ask your agent about the required C.L.U.E disclosure.

·      Discuss with your agent: If you are recently or are going through a divorce, have liens or judgements pending, foreclosure notices, don’t have a current valid photo ID; have extended vacations planned, or anything else which may affect your transaction.

·      Remember your team of professionals, Relocation, Lender, Title and Escrow, Realtor, Inspectors, Contractors, Insurance Agent, etc. are here to insure you have a pleasant and smooth transaction. Your Realtor is the “Conductor” of your team. Feel comfortable to communicate openly and often with them.