After spending nearly a decade working up close in the real estate industry, I have recognized that there are basic components that every homeowner, or individuals that want to become a homeowner, need to understand about selling real estate.
Always Use a Realtor
It is essential that every individual selling real estate use a realtor. The real estate agent is fully committed to their profession, and has the tools and experience to sell property at the best price. They spend a significant amount of time and energy along with their own money on continuing education courses. They are required to follow a very strict code of ethics.
Although it cost between 6% and 7% in commissions to hire realtor to sell the property, there were a worth every penny. They can help you establish the true value of the home, and handle every headache in the closing process.
The realtor will go out of their way to find potential buyers, and because their pay is based on the total amount of the sale, they want to get the best price possible.
Locating the Best Realtor
The easiest way to find realtors is through referrals. Ask individuals that you know that have recently purchased or sold a home, and if they liked the results of the realtor provided. Do not just assume that a realtor that holds a license has an advantage over another, without checking the referrals.
Help the Buyer Find Financing
If you find a potential bar that is willing to offer the top price, go out of your way to help them find financing. This may be using the realtor, and the referrals he or she can offer. It might also include financing part of the deal to help with the down payment. It is better to assume a note on a portion of the spouse that you are selling, then take a lower price, and lose out altogether.
Offer a Home Inspection
Be sure and offer a free home inspection as a part of the purchase price. Upon inspection, if anything is found wrong, have it repaired immediately. One way to avoid the inspection is to offer a home warranty that last between 2 to 5 years. The home warranty can be used as a negotiation tool in the overall purchase price of the house. Typically the warranty will handle all plumbing, roof, electrical and appliance issues.
Finally, consider using an optimal title company to handle the escrow and closing. Most realtors will simply use their own title company. However, shop around for the best prices, and find the ones that have the experience that can handle a quick closing. A competent title company will ensure that they have all their ducks in a row on closing day. This provides an easy transition of giving up the rights of the property in exchange for a large fat profitable check.
Always be realistic about the outcome of selling real estate. Be sure to listen to the advice of professionals and keep a strong positive attitude.