TIPS FOR SELLING YOUR HOME

Before you entertain potential buyers…
  1. Walk around your home and look at it from a potential buyer’s perspective.  Anything that you see as detracting from the appeal of your home should be addressed.
  2. Curb Appeal – make sure that your grass is mowed, all flowerbeds are free of weeds, sidewalks are swept and clean of debris, and ornamental shrubs are trimmed.  Most buyers will drive past homes that are For Sale By Owner before making an appointment to view it. A neat and clean yard can make the difference between calling and passing on to the next house.
  3. Driveway – once the prospective buyer makes an appointment, the first area they will see is the driveway. Make sure all of the maintenance and landscaping in this area is up to date.  If your blacktop needs sealed, make the investment of your time and a small portion of your money and have the work completed.
  4. Maintenance – Check your doors for squeaks and oil them where appropriate, fix squeaky floors and touch up any paint that is peeling or discolored.
  5. Improvements – Only do the repairs and painting that are necessary to make your home more appealing to a buyer.  Don’t start any major improvements to your home; after all you will be selling your home. 
  6. Remove Clutter – remove any unnecessary clutter around your house, including area rugs.  You want your buyer to picture the house with their belongings in it.  A lot of clutter can make this difficult. (This includes your basement and garage.)
  7. Clean Everything – make sure you give your house a good thorough cleaning.  Doorknobs should shine, windows and windowsills should be clean and free from dirt, make sure the bathroom sparkles and all appliances are clean inside as well as on the outside. Clean baseboards; make sure all of the dishes are clean and put away neatly so that a perspective buyer doesn’t open the dishwasher to see dirty dishes.  You may want to consider hiring a cleaning company to come in and give your home the full treatment before you begin showing your house or before an open house.
  8. Valuables – remove all of your valuables from your home and place them in a safety deposit box.  Remember, you don’t know the people who will be in and out of your home.


When showing your home…
  1. Signs – place a sign in your yard without your phone number on it.  Place an information box or tube on the sign to hold the specification sheet that has your contact information on it. Placing these sheets in a tube or box on the sign in your yard, allows a potential buyer to determine if your home is what they are looking for and can save you the time and trouble of showing your home to someone who is looking for something different.
  2. Safety – always have two people in your home when you are showing it. 
  3. Scents – place different scented candles around your home.  For example, a baked apple candle in the kitchen can help with that homey feel.  Caution:  Choose one or two complimentary scents, you don’t want too many scents to combine into a sickening smell.
  4. Turn on all of the lights and open the binds.  You want your perspective buyer to be able to see all of the charm and everything that is wonderful about your home.
  5. Light the fireplace(s), this will add a warm feel to your home and will also show that the fireplace(s) is working.
  6. Park your cars in the garage or park them away from your home.  The more room you leave in your driveway, the bigger it looks. 
  7. Clean up your and your children’s toys on the inside and outside of the house.
  8. Secure your pets – make sure that your pets are out of the house.  You don’t want a perspective buyer who is afraid of animals or allergic to animals to leave the house with their only memory being, the house with that dog or cat.
  9. Guest Register – have everyone sign a register when viewing your home.  This can help you with follow up after the open house or showing.  We have provided a form that you can use.
  10. Specifications Sheet – this will give your potential buyer a better way to remember your home. 
  11. Comparison Worksheet – you can provide this to your potential buyer, fill out house one on the sheet and the buyer can take it with them and use it to compare your home to others.
  12. Best days to hold an open house are Saturdays and Sundays from 12 until 5.


Be prepared for the sale
  1. Choose an attorney to help you with the finer points on the Agreement of Sale.
  2. Choose an attorney or escrow company to hold the Hand Money.
  3. Know what your bottom line price is and what terms you would be willing to use as negotiation tools.


Pre-qualification letter vs. Pre-approval letter

Don’t be afraid to ask your potential buyer for a pre-approval letter.  A pre-approval letter can provide you with the assurance that the buyer has qualified for a loan large enough to purchase your home.  Make sure it is a pre-approval letter and not a pre-qualification letter.  A pre-qualification letter means only that your buyer may qualify for a stated loan amount as based on debt to income ratios.  A pre-approval letter is a credit decision made based on the credit history of the buyer.
 

Home Warranties

As a seller, you may want to offer a potential buyer a Home Warranty as an incentive to purchase your home.  A Home Warranty provides the buyer with insurance coverage over specific repairs usually not covered by Homeowner’s Insurance. The coverage available can vary by policy type and issuer.  Be sure to carefully read the options offered by the carrier.  You should know what you are offering your buyer so that you do not make an incorrect representation. 

FHA Loans – What The Seller May Be Expected To Pay:
  1. Document preparation for both Title Insurance and Loan documentation.
  2. Settlement Fee (for buyer and seller).
  3. Tax Certification Fee.
  4. Tax Service Fee (this is a lender’s charge).
  5. Release Fees.
  6. Federal Express Fees.
  7. Recording fee for any assignment of the mortgage.

VA Loans– What The Seller May Be Expected To Pay:
  1. Termite Inspection.
  2. Document preparation for both Title Insurance and Loan documentation.
  3. Settlement Fee (for buyer and seller).
  4. Tax Service Fee (this is a lender’s charge).
  5. Administration Fee (this is a lender’s charge).
  6. Processing Fee (this is a lender’s charge).
  7. Federal Express Fees.
  8. Recording fee for any assignment of the mortgage.
  9. Notary Public Fees.


Disclaimer
 Every effort has been made to provide accurate and complete information. However, with the varied requirements of title insurers and lenders, we cannot make any assurances that this information will be applicable for all real estate transactions. The information provided is applicable to Southwestern Pennsylvania closings only. The information contained herein is for reference only and should not be construed as providing any legal advise. If you need legal counsel please feel free to contact us at 412-566-1212.


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