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BUYER AND SELLER TIPS
Homebuyers
or Sellers represented by Preferred Group Realtors agents are provided top professional service, which
is always focused on the client's needs. With a formal agreement that stipulates
your Realtor is acting on your behalf, he or she can serve as your advocate and
your negotiator.
Please choose from the information provided
below for your knowledge and help:
Buyer Tips
Seller
Tips
Buyer Tips
Don't buy an unusual home if you have
to resell soon.
Remember,
even if the quality of a school district doesn't matter to you now; it might someday
to another buyer.
Expect
lower maintenance costs with a brand-new home.
Never tell a seller's agent how much you'll raise your offer for a particular
house.
When interest
rates are low opt for a fixed mortgage.
Pay attention to floor plans. Changing layouts of rooms later can be costly.
You can deduct on that years tax return
points paid by either party on the purchase of your own residence.
If the present owner has a title insurance
policy less than 3 years old, you could have substantial savings by buying a reissue
of that policy rather than a completely new one.
Pay attention to the original listing date of the homes you inspect; Sellers tend
to be more flexible in the price the longer the home is on the market.
A house that's sited to take advantage
of the sun, the wind and the typography costs less to heat and cool and can save
thousands of dollars over the years in utility bills.
Buying a house whose style is uniquely individual will probably minimize rather
than maximize its resale value because the house will appeal to a somewhat more
limited number of potential buyers.
If you think you may need more space in the near future, be sure the house and
lot will allow for expansion.
Redoing a kitchen is likely to be expensive. So be sure of what you need and want
before you buy.
Don't
buy a house with foundation problems. Although most foundation problems can be
corrected, repair work is usually expensive.
Before you buy a house that may have a wet basement problem, get a good unbiased
diagnosis from a professional with moisture control experience. The solution could
be costly.
A roof that
complements the style of a home and is carefully maintained adds to the home's
visual appeal and its resale value.
A light-colored roof reflects heat and is best in areas where air-conditioning
is the greater energy user. In colder weather climates, a dark roof is preferable
because it absorbs more heat. In temperate climates, a middle-range shade is best.
The three most popular wall choices
are brick, wood siding and stucco. About half of all home shoppers prefer brick
for exterior walls; about one-third prefer wood siding; and about one-fifth prefer
stucco.
Wood floors
suggest warmth, quality and good taste and are an asset when it comes time to
sell a house.
Plant
trees, shrubs and vines on south and west sides of the home to provide shade in
the summer and sunshine in the winter. Remember trees enhance the value and beauty
of a house.
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Seller Questions & Tips
How do I determine the best
price for my house?
Review the Comparative Market Analysis
provided by your Realtor. Ask a lot of questions.
Is there one major factor that determines price?
Recent
"solds" are the true determining factor for market value.
Should I price my home similar
to those homes listed close by?
If these similar homes have
been listed for quite some time and not sold, it shows that buyers are not yet
willing to pay that price. The actual solds are more accurate.
Should I price my house high
and test the market?
Pricing your home high loses the six important
advantages when the listing is new and the existing buyers in the market are waiting
for market-priced properties. Those advantages are: sign, MLS update, open house,
office tour, advertising and MLS book.
How can overpricing my house actually help the buyer?
Overpricing
leads to the house being on the market for a long time. That leads to buyers believing
that the sellers are now desperate or that something is wrong with the house.
Either conclusion leads to offers lower than market value.
What is computer shunning?
If buyers want a home between
$245,000 and $250,000, and your home is worth that amount but you have overpriced
it at $269,000, then the buyer never sees it because the computer search only
retrieves homes that are in the $245,000 to $250,000 price range.
Why not list high and hope
for a buyer who doesn't know prices?
Buyers buy by comparisons.
They get to know values in one quick day. Even if a buyer did not look at other
homes and bought an overpriced home, the appraisal would be less and the home
sale would be discontinued because financing could not be obtained.
What if I need a certain amount
of money to be able to sell?
The market is just that - the
market. If the market indicates houses in a specific area are worth $150,000 to
$155,000, that is all someone will pay. You need to then determine where the balance
of the money will come from if you need a certain amount.
Does the cost of my improvements equal what I can get for them now?
Yes,
if the improvements are similar to other homes around you. However, if you have
over-improved the house beyond the features offered in other homes in the area,
the answer is no.
Does time on the market affect the selling price?
There
is a direct correlation between time on the market and price. Houses over 24 weeks
on the market may receive a full 10% below price.
How do I justify my price to the buyer?
Allow the
Realtor to justify price to potential buyers based on the Market Analysis of sold
properties.
What
if the house sells in the first weekend - Did I ask too little?
If
the Realtor prices the home at market value, there are already buyers in the market
place who have looked at other properties and are waiting for market value homes.
They usually buy as soon as a good property becomes available
I have some expensive improvements
to the house - Should I include them in the listing?
If you
really want an improvement like an expensive chandelier - then take it down now
and don't even let the buyers see it. If you feel these improvements can help
sell the home quicker - include them.
Is selling my house an emotional decision?
Yes. 78%
of a decision to buy or sell anything is emotional. That is why Realtors can act
as third party unemotional negotiators.
Should I invest any money in the house before I sell it?
Invest
money in the home if the costs of materials are low, such as paint, and if you
can do the work yourself. Sometimes a small investment can mean a quick sale.
Do I really need to keep the
house clean for every showing?
Yes, make it as close to a model
home as possible. Everyone wants to look at a home in as perfect condition as
possible and then imagine how they can make it their own.
5
reasons a home sells:
1. Location
2. Price
3. Terms
4. Condition of Property
5. The Agent You Select
- YOU Control Four of These
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