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Perhaps we should at this point,
something that you should, as the seller, know all ready.
Namely, that you can control three factors that will affect the sale
of your home, and if and when an offer will be given for your
consideration:
- The home’s condition
- Asking price
- Marketing strategy
However, it’s important to note that there are numerous other
factors that influence a buyer, and you need to understand these
consumer trends when you enter the sellers’ market. The more your
home matches these qualifications, the more competitive it will be
in the marketplace. Your real estate agent can advise you on how to
best position and market your home to overcome any perceived
downsides.
Location
Unfortunately, the most influential factor in determining your
home’s appeal to buyers is something you can’t control: its
location. According to the National Association of REALTORS®,
neighborhood quality is the No. 1 reason buyers choose certain
homes. The second most influential factor is commute times to work
and school.
Size
While some buyers want to simplify their lives and downsize to a
smaller home, home sizes in general have continued to increase over
the decades, nearly doubling in size since the 1950s. Smaller homes
typically appeal to first-time home buyers and “empty nesters,” or
couples whose children have grown up and moved out.
Amenities
Preferences in floor plans and amenities go in and out of fashion,
and your real estate agent can inform you of the “hot ticket” items
that are selling homes in your market. If your home lacks certain
features, you can renovate to increase its appeal, but be
forewarned: That’s not always the right move. Using market
conditions and activity in your neighborhood as a gauge, your agent
can help you determine whether the investment is likely to help or
hinder your profit margin and time on the market.
Once
a buyer decides they would like to buy your house, an offer will be
presented. Review the written document taking care to note what needs
to be done by both parties to execute the transaction. The contract
should protect the best interests of all parties involved and should
be comprehensive in nature. Once you accept the contract, it may be
too late to make any changes. The contract, though not limited to this
list, should include the following:
- A legal
description of the property
- The offering
price
- The down
payment
- Financing
arrangements
- A list of
fees and who will pay them
- Amount of the
deposit
- Inspection
rights and possible repair allowances
- The method of
conveying the title and who will handle the closing
- A list of
appliances and furnishings which will stay with the home
- The
settlement date
- Any relevant
contingencies
At this point, you have three options:
accept the contract as is, accept it with changes (a counteroffer),
or reject it. Remember: Once both parties have signed a written
offer, the document becomes legally binding. If you have any
questions or concerns, be certain to address them with your real
estate agent right away.
Remember that
the legalities of this phase are very important. If you have any
questions or concerns, they need to be addressed right away.
I can save you
time and money by making sure that the offer is presented to you by a
qualified buyer. There is no reason to review an offer if the
person(s) making it will not be able to actually buy your home. I will
also be available to review the written offer to make sure that it is
written in a proper way and covers the necessary areas. |
Asheville Real Estate
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