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Home Seller’s Frequently Asked Questions

Posted by Susanna Haynie on May 2, 2018
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Well, if it’s time to sell your home, have we got ANSWERS for you! We’ll help you figure out the steps of the home selling process so you can successfully get your home under contract as smoothly as possible.

From the Beginning

Start at the beginning - white converse shoes

How much needs to be done to my house before putting it on the market?

Many people get caught up here. They worry that everything must be perfect, new, and spotless, but this is not always the case.  Talk with your realtor to understand what to prioritize before listing in your market.  Remember: if a buyer wants everything perfect, they would be building a new construction home.

How much is my house worth?

This is a great and important question! Again, a realtor does this for a living.  But you can start researching even before you meet with a realtor.  Look at recently sold homes in your area with a  similar size and year built as your house. This will help give you an idea or target listing price for going into your first realtor meeting.

When is the best time to sell my house?

Typically spring! Buyers are able to get out and look at properties and spring/summer is an easier time for a move. April, May, and June is when you will see homes go on the market, so be prepared if you plan to sell this year and get in touch with a realtor ahead of time.

What is the difference between a list price and sale price?

List price is the price the home is currently listed at. The sale price is the price the home is sold for.

Should I price my home higher to leave room for negotiations?

This is a common question! In a financial mind, that strategy makes sense. But a well priced home will sell quickly and will sell for (hopefully) very close to the listing price. There is no need to over price the home for negotiations. Today’s buyers are very well educated on fair pricing and market value.

Selling

How much commission do you charge?

Ah, the important part: money! Commission is negotiable. Period. Don’t let a realtor tell you differently. With that being said, please keep in mind that the saying “you get what you pay for” is very applicable in real estate. If a realtor offers lower commission, you are no longer their top priority in negotiations, advertisements of your sale, and closing the deal. Choosing a realtor strictly on a lower commission price is one of the biggest mistakes home sellers make.

What happens if I’m not happy and want to cancel the contract?

The plan is to sell a home quickly and for top dollar, but that’s not always the case. Every state and contract is different, and if you decide to cancel the contract you could be responsible for paying any expenses incurred by the realtor or brokerage. As with any contract, read everything carefully before signing.

Offers

How should I respond to significantly low offers?

The worst option when a low ball offer comes in? Choosing to not respond to the offer at all. These offers can sometimes turn into a really successful sale of a home. Consider each offer, and remember that this is a business decision and not an emotional one! (Even though we know that can be really hard!)

Are there repairs that are mandated by a buyer or bank?

Yes, there definitely mandatory repairs. These are great questions because people can sometimes forget this. If a buyer is getting a mortgage through a bank, an appraiser will come to the home and assess the home for potential safety hazards and concerns. The buyer will declare a dollar amount that the seller is responsible for to cover bank required repairs.

 

 

Extras

Miscellaneous Questions - blue clouds sky

What are some common closing expenses?

Home sellers typically cover the abstract and title search, instrument survey, real estate commissions, and transfer taxes (also known as revenue stamps).

Should we include appliances in the sell or leave that negotiable?

A lot of times the appliances bought for one home will not look natural or match a new home, but the decision is ultimately up to the seller. Keep in mind that appliances are considered personal property so they do not add much value.

Should I be present during tours and to present my home?

The most simple answer to these types of questions is NO! This can make potential buyers feel pressured and uncomfortable to freely ask questions and speak with their realtor. This is not how you want to make the sale! After giving the cleaned and organized home one last check over, leave just before they arrive and come back once you’re sure they’ve left.

Thank you for reading this post, and if you are ready to sell your home, call your trusted, dedicated partners at Colorado Real Estate LLC and Susanna at (719)321-0800.

Click to download our Pre-Listing Guide