Seems these days everyone is telling you what to DO, but where is the DO NOT list when selling your home? Here are three easy tips on what not to do in the sale of your home.
1. Do not get emotional
That is easier said than done -this is your home after all. The more you think of the sale as a business transaction the better and thinking with your heart is not always the best route to take when negotiating a deal.
Buyers will not place the same value on your home as you do. You will have to put your emotional attachment aside. A house is worth what a buyer is willing to pay. Much to the seller’s chagrin, this means that buyers set the market. In most cases, there is a going fee for homes. The price is typically is determined by location, house style, number of bedrooms, bathrooms, lot size, and condition to name a few. What is not taken into consideration are the memories and the love you put into taking care of your home.
2. Don’t go it alone
Real estate professionals are skilled to showcase home selling qualities. They are also skilled negotiators who know how to get you the best deal. According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, homeowners that sold on their own property typically received $59,000 less for their home than an agent-assisted home sale.
It can be very difficult for a seller to show and close the deal on their own home. It is usually very awkward for buyers viewing a home while homeowners are still there. It may discourage them from commenting, criticizing things, or even looking as thoroughly as they normally would. A buyer is leery about trusting and working directly with the seller. Negotiations typically break down without the real estate professional’s expertise.
3. Don’t choose the agent who gives you the highest price
Many sellers get caught up in what an agent will say the house is worth. Refer back to number one on this list. The house is worth what the market will bear. Often times an agent may entice you with a higher list price to get the listing, only to drive down the ultimate selling price of your home because it has sat on the market for too many days. Choose an agent based on their reputation, marketing strategy, and one you can trust. You may want to even throw in a gut feeling on the choice. Remember you will have to work with this person so a good relationship is important.
Buying a home is a very important decision. Before you rush into a home you should consider all the factors.
Making sure you end up with the right home involves figuring out exactly what features you need, want and don’t want in a home. Before starting your search, you should make a “wish list” to decide which features are absolutely essential, which nice “extras” are if you happen to find them, and which are completely undesirable.
The more specific you can be about what you’re looking for from the outset, the more effective your home search will be. Also keep in mind, that in the end, every home purchase is a compromise.
Create your own personalized “wish list” and when you’re finished filling it out; share it with your real estate agent.
Become an educated buyer
•The web is one of the best ways to search for homes today. With this website, you can receive daily emails with new and updated listings from the towns and price range of your choice.
•Search the entire MLS for all homes, condos, land, multi family, commercial properties, and past sold properties at your convenience.
•View full listing sheets showing amenities, taxes, lot sizes, beds, baths, rooms, siding, fireplaces, garages, room sizes and much more.
•Get property addresses and see where the properties are located on MapQuest.
•Check schools and community profiles of your preferred towns.
•Save preferred listings in your own file to view anytime.
•Calculate approximate mortgage payments for specific properties.
Home Inspection
Once you have made an offer on a home, you will need to schedule a home inspection, conducted by an independent authorized inspector. It is extremely important to hire a reputable inspector so that you know exactly what you are buying. Do not hesitate to ask friends, family, and co-workers for advice. If you are satisfied with the results of the inspection, then you can proceed with the sale. If the inspector finds problems with the property, you may want to negotiate with the seller to lower the price, or to pay for certain repairs.
Appraisal
Your lender may require you to get an appraisal of the house you want to buy, to make sure it is worth the money that you are borrowing. You may select your own appraiser, or you may ask your real estate broker to help you with this task.
Homeowner’s Insurance
Lenders require that you have homeowners insurance, to protect both your interests and theirs. Like everything else, be sure to shop around for insurance that fits your needs.
Settlement or Closing
Finally Make Sure Before you Buy
Finally, you are ready for the closing. Be sure to read everything before you sign! You should have both your real estate broker and an attorney present at the closing to ensure that all is in order.
In today’s economic climate protecting your financial health is more important than ever. From health insurance to your plans for retirement, there’s a lot to consider. Here are some tips from Family Wealth Management Group, LLC to help protect your assets and financial future.
It is never too early to plan
In order to plan, you need to know what you have. Review your pension plan, 401 (k), IRAs, Social Security benefits and other savings plans to assess whether they meet your long-term retirement goals and will generate an income stream to meet your projected expenses.
Curb spending
Time to take an inventory on how much you spend. Keep a log on trips to the market, afternoon lattes, dry cleaning and all of your miscellaneous spending. Try to eliminate a portion of these expenses. Once you track them you will realize you are spending more than you thought.
Re-define your financial goals
Ask yourself where you see yourself in five, 10 or 15 years. See if it is possible to redefine your goals. You may be able to retire earlier or pay for college. Set goals to achieve the things you want.
Get help
Professional advice about investment losses, financial products, insurance coverage and other important issues will help you make the right choices for your current financial situation.
No matter how sturdy a home is, sooner or later maintenance will be required. When this happens, you will have the choice to do some of this maintenance work yourself, or you could opt to utilize a home repair service to do it for you. This largely depends on how much experience you have in repairing things in your home. For example, hanging a picture on the wall does not take too much knowledge and expertise, as all you would need is a good drill and a little bit of know-how. On the other hand, if you need some major plumbing repairs, then you are better off finding a reputable plumber to do the job for you.
When it comes to painting, it really does depend on whether you have some experience and know-how, and how much you enjoy doing it. For some people, painting can be extremely therapeutic. They will gladly paint every room in their home without any fuss. For others, painting a wall can seem like an extremely messy job, and in most cases, it will be a job badly done. In a situation like this, you are better off using a professional painter.
One of the best ways to find a good quality home repair service is by going on the internet, as this allows you to quickly find a specialized repair service within your area with just a few clicks of your mouse. In addition, you are also able to do a little research on the repair service beforehand.
If you would like a local referral I keep a list of professionals. Please call or email me for more information.
Featured Properties
Featured Property Slideshow Quick Search
Property Search
Thomas Hoy
Bayside Realty Consultants
Direct: 508-280-6341
Cell Phone: 508-280-6341
Fax: 508 385 7775
Email Me | Visit My SiteE-Mail Alerts
Dennis, MA News- a public service posting May 20, 2012Once again I was driving along Route 28 between Dennis and Hyannis when I found myself behind a car that was going no more than 25 MPH even though there was no other traffic in front of that car. […]
- 'Legally Blonde,' 'Baskervilles' on Cape Playhouse lineup May 19, 2012Broadway actress Randy Graff will star in "As Bees in Honey Drown" at Cape Playhouse. […]
- About Town: Still Time to Help Park St. Fire Victims; Girl Scout Fundraiser May 18, 2012MORE ON THE PARK STREET FIRE VICTIMS : Friends ofA Dennis Manning, Laurie Smith A and Stoughton High School studentA Dianna Manning , who were allA made homeless by the recent Park Street fire , held a fundraiser for them, last Friday night at Game Time Sports Bar & Grill, 365 Centre Ave. […]
- Dennis voters oppose nuclear plant relicensing May 18, 2012The majority of voters during Tuesday's annual town election agreed to request that the Pilgrim Nuclear Power Station not be relicensed. […]
- Gauvin: a Gasser: Higher cost changes spelling of grill fuel to 'propain' May 18, 2012Wipe that smile off your face as you haul your "propain" tank to the fill-'er-up place of your choice while imagining those New York strip steaks sizzling on a scorching grille. […]
- a public service posting May 20, 2012
- Yarmouth, MA News
- Backhoe busts gas line in Great Island section of Yarmouth May 17, 2012Monday afternoon around 1:20 p.m., Yarmouth firefighters were called to 31 Moss Road in the Great Island section of West Yarmouth for a gas break. […]
- Fall from horse no setback to veteran's cause May 15, 2012The 66-year-old cancer survivor and former Navy gunner's mate was hospitalized with a cracked pelvis after he was thrown from his horse Saturday morning, minutes before he was to leave West Yarmouth for a three-month, 1,000-mile ride to raise awareness of and financial support for wounded veterans. […]
- Fire crews respond to Great Island gas leak May 15, 2012A gas leak at a house on Great Island in West Yarmouth kept firefighters busy for about an hour Monday afternoon. […]
- Airport Rotary work snarls Hyannis traffic May 10, 2012Hyannis-- 05/09/12-- Brake lights were the color of the day around the Airport Rotary where a lane of the traffic circle was cordoned off as construction began to close off the Barnstable Municipal Airport entrance from the rotary. […]
- Airport rotary work causes a traffic mess May 9, 2012Traffic is a mess heading into the Airport Rotary in Hyannis today while road crews work to reconfigure the entrance to Barnstable Municipal Airport. […]
- Backhoe busts gas line in Great Island section of Yarmouth May 17, 2012
- Brewster, MA News
- Several pursue Brewster school board seats May 19, 2012The election Tuesday has no races for selectmen, but several candidates are running for two positions on the local and regional school committees. […]
- Cape Commerce May 18, 2012Bruce C. Williams has joined the Cape Cod Five Cents Savings Bank as a mortgage loan officer in the Hyannis area. […]
- Longtime Brewster moderator faces experienced challenger May 18, 2012In the 38 years that Stephen Doyle, 65, has been the moderator, voters have come to count on a bit of humor and entertainment. […]
- Cape Cod mooring and slip waiting lists May 17, 2012Search these Cape Cod town boat mooring waiting lists for the names and rankings of those seeking a mooring or slip as of around April 2012. […]
- Tidbits for Cape and Islands foodies May 16, 2012Don't forget to eat out this week, as Restaurant Week Cape Cod continues through Sunday. […]
- Several pursue Brewster school board seats May 19, 2012
