Selling FAQ
When is the best time to sell my home?
The best time to sell your home is when you have a change in lifestyle such as a new job, possibly with more income and you want to upgrade a job outside of your current area, a divorce, or a new marriage. Another good reason to sell is if you are a growing family and want bigger space. A lot of people are upgrading due to the fact that many people are working from home and spending a lot more time inside their homes so naturally they want more office space, workout space, and overall living space.
Another thing to consider when thinking of selling your home is the current economic climate. Take a look at both national and local economies. It is a seller’s or buyer’s market? Taking a look into this is something a real estate agent can provide up to date reports to give you the tools you need to make the best decision possible.
What is moving season?
“Moving season” is a term that is used in the property management industry to indicate a time when renters move from one apartment to another. This also correlates with a time when home transactions go up. This season is from May to August, but it can also depend on the market. Keep in mind if you sell at a time when there are less sellers, you may have an advantage as there will be less inventory on the market so selling in the off season can actually give you a boost.
What do I need to do to get my home sale ready?
The first thing you need to do is find a trusted realtor who can give you a comparative market analysis on your home and a detailed marketing plan. The next thing to do is make sure you read my guide, Market Your Home for Sale, and download the checklist. Home staging is going to be a big benefit! Listing in the MLS, an open house and any added marketing options like a virtual tour will all be even better benefits! Doing all these will not only help you get asking price or above but will help buyers see the value in buying your home. You want to be as competitive as possible. Keep all these factors in mind when deciding your plan of action for listing your home.
Can I sell my home if I am in default?
If you are in default there are options available to you such as a mortgage loan modified, short sale, refinancing your mortgage, even the Home Affordable Refinance program, or HARP, which is designed to help underwater borrowers.
Worst case scenario is bankruptcy but that can only postpone foreclosure if you are not able to make payments.
What is a contingency?
A contingency means that your home sale is based on you finding another home to live in. This is a safeguard to home sellers in that you will not be left without place to live if you cannot find a new place to buy first. This is good and bad in some aspects. This means you will need to find a place to live, while at the same time marketing your home for sale while not slowing down the process of the sale of your home. This is a common practice for many sellers. There is another option for this that is exclusively offered by my company. Ask me about this today.
What are disclosures and how can those protect me?
Disclosures are given to the buyer about the home. These are required by state to document any known defects to potential buyers. Disclosures document to inform buyers but also to protect sellers from possible future legal action. Typically, disclosures are provided to a buyer once the seller has accepted an offer. In addition to the inspection, disclosures give the buyer a chance to look review all known defects or possible defects about the property. This is better than buyers finding out about it through the inspection or on their own at a later point in time. Buyers must sign off on all disclosures and reports. Disclosures give the buyer a sense of comfort or peace of mind when making their decision.
What happens when I accept an offer?
Please read the After an Offer is Accepted page.