New more space? Need less space? Moving with your job? Moving to a different home?
You need to start planning early for the best success. The Ridgeway Team has some suggestions for proven results.
5 Must Do’s BEFORE putting your home on the market!
1. Pre-Sale Inspection The Ridgeway Team with their EXPERIENCED eyes will come and make suggestions. We may see some trouble areas that will require repairing prior to placing the house on the market. Some people will hire a home inspector to make a report. Most important, do make any repairs.
2. Organize and clean Are you clutter prone? Start tossing. Remember that you will be paying someone to move–do you want to pay to move clutter, things that you really do not want or need? You may need to pack/store your least-used items such as large blenders and other kitchen tools filling up counters and cabinets, out-of-season clothes, toys, and exercise equipment. Store these items off-site or in boxes neatly arranged in the garage. CLEAN windows, carpets, walls, lighting fixtures, light bulbs (!), and baseboards. Remove window screens and label them to store in garage. Check out bathroom caulking. Let The Ridgeway Team give you suggestions. We do have EXPERIENCE in staging.
3. Get estimates for replacement items. Do you have worn out carpet? Get an estimate to replace or do it yourself. Roof crumbling? Get estimates. Roofs often will prevent a buyer from obtaining homeowners insurance. You may need to give an allowance or replace. The estimates, if you have not replaced, will help buyers determine if they can afford the home, and will be useful when negotiations begin.
4. Collect warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer/dryer, dishwasher, and any other items that will remain with the house.
5. Curb Appeal! This is one of The Ridgeway Teams’ favorite. Did you know that a Buyer will decide on a house during the first 40 seconds of seeing a home? Make that 40 seconds count by making the lawn and bushes look neatly manicured. Is the address clearly visible? Have pretty flowers and plants framing the entrance. Make sure the walkway is free from cracks and impediments. The front door must shine!
HOW TO IMPROVE THE ODDS OF AN OFFER
1. Price it right. Be realistic. There are buyers just waiting for the right house to come on the market through out the year. The first week of showing is the most important to flush out those buyers. Best to set your price at the lower end of your property’s realistic price range to get full price fast.
2. Prepare for showings. Get your house in show condition early.
3. Be flexible about showings. This is not the fun part of selling! The more amenable you can be about letting people see your house, the sooner you’ll find a buyer.
4. Anticipate the offers. Decided in advance what price and terms you’ll accept. You do not need to tell us what those terms are.
5. Don’t refuse to drop the price. The Ridgeway Team’s rule–limited showings and no offers after 30 days, re-asses the property’s attributes with the price. The longer a house stays on the market, the better chance to receive a low offer!
OFFER is RECEIVED–WHAT’S NEXT??
1. Negotiations The Ridgeway Team will walk you through the various clauses on the contract. There are 3 basic areas for negotiation: 1. Price 2. Concessions–such as inspections, closing dates, types of mortgage, etc. 3. Closing costs. the Ridgeway Team uses a net sheet to help you see the big picture. A lower price contract may actually give you a higher net depending on concessions and closing costs. We are EXPERIENCED with savvy negotiations.
2. Offer accepted. a. The agent assures that the earnest money deposit has been sent to the closing company who will hold the money in an escrow account. b. Now the fun begins with inspections as noted in the contract. It is best that the Seller is NOT in the house for the inspection. You will have a Wood Destroying Organism inspection as required by the lender. It is negotiable of who pays for this inspection. If requested the buyer may call for a septic inspection. Depending on the contract clauses, the buyer may ask for certain repairs, credit (negotiable), or may terminate the contract. Certain items in the house must operate in normal condition such as plumbing, electrical, appliances, etc.
3. The offer is CONTINGENT until all inspections are completed. When they are completed then the sale is called pending or under contract. Most contracts call for a 30 day contingency to have loan approved.
4. Get moving estimates. If all inspections are completed and contract is going forward, call to arrange for moving estimates. You must be out of the house the day of closing with the house in minimal broom clean condition and free of all debris.
5. Make any repairs, if needed, as terms of contract.
6. Continue to maintain yard and house in the condition that all were in at contract.
7. Cancel utilities effective at closing. The Ridgeway Team recommends making the effective date a few days after closing to make sure all is completed.
8. Call and cancel home owner’s insurance. Many insurance companies will request the closing statement before cancelling.
9. Provide name of existing mortgage company, loan number, and customer service number to closing company.
10. Closing time will be determined within a week of closing.
11. Decide what banking institution that you want your money deposited. The Ridgeway Team recommends that the funds be wired to your bank by the closing company. DO NOT send any personal banking information by email. There are scammers who troll the internet hoping to steal your money. Bring the wiring information physically to the closing company the day of closing.
12. Bring a photo ID with you to closing.