Selling Your Home On Your Own?
For those of you who wish to privately sell your home, I am offering some invaluable tools designed to assist you in the marketing and selling of your home quickly and easily.
If you have any questions on any of the topics below, please feel free to call or email me. I am here to help.
Tips For Preparing Your Home For Sale
· Tidy up the grounds, porches and garage. Keep the lawn trimmed and edged. Make sure that your yard is clean. First impressions count!
· Your front door adds that first impression – be sure it is scrubbed or repainted if necessary
· Wash windows and clean/dust window coverings
· If any decorating or painting is needed (especially in the kitchen), do it now! Twenty dollars worth of paint will make a much larger difference in the sales price.
· Bathrooms help sell homes. Make this room sparkle.
· Illumination is like a welcome sign. Replace bulbs and turn on the lights.
· Wash dishes, make beds, put away clothes and straighten up.
· Keep pets out of the way during showings – many people are allergic.
· Leave the showing to the salesperson. The salesperson knows the buyers requirements and can best emphasize the features of your home. If possible, leave the house during a showing.
· Don’t discuss anything about the sale with a potential customer. Let your agent discuss price, terms, possession and other items concerning the sale. Your agent is qualified to bring negotiations to a favorable conclusion.
· Never apologize for the appearance, it either distracts or accentuates the problem
· Pack away valuables, knick-knacks, guns and medicines.
Rounds in the Sale of a Home
Round 1: 3 P’s (Price, Promotion, Presentation
Round 2: Negotiating the offer
Round 3: The Purchase and Sale Contract (Earnest Money Contract)
Round 4: The Home inspection
Round 5: Re-Negotiation
Round 6: Loan Application
Round 7: The Appraisal
Round 8: Title
Round 9: Escrow
Round 10: Loan Commitment vs Waiver of Financing Addendum
Round 11: Closing/Recording date
Round 12: Final Week of Closing
Round 13: Possession
Round 14: The First Week AFTER possession
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Guide to Customary Closing Costs
The BUYER normally pays for:
ü One-half of the escrow fees (according to the contract)
ü Lender’s Extended Title Insurance Premium (ALTA)
ü Recording charges for all documents in buyers name (Deed of Trust, Mortgage)
ü Document preparation (if applicable)
ü Inspection fees (according to contract): Roofing, property inspection, pest, etc.
ü Home Warranty (according to contract)
ü Tax and Homeowners dues pro-rated from date of acquisition
ü Homeowners/Hazard Insurance for the first year
ü All new loan charges (except those required by lender for seller to pay depending on loan type: FHA, VA, etc)
ü Interim interest on new loan prorated from date of funding to first payment date
The above items range from 3% to 5%, depending on loan type.
The SELLER normally pays for:
ü One-half of the escrow fees (according to contract)
ü Owner’s Title Insurance Premium
ü Excise tax of 1.78% of sales price (King County)
ü Real Estate Commission of 6% of sales price (usually split between listing and selling agent)
ü Any unpaid Homeowners dues
ü Any Bonds or Assessments
ü Home Warranty (according to contract)
ü Any judgments, tax liens, assessments or encumbrances showing on title
ü Recording charges to clear all documents of record against the seller
ü Any loan fees required by buyer’s lender determined by type of loan: FHA, VA, etc.
ü Payoff all Encumbrances (loans) in Seller’s name
ü Interest accrued to lender being paid off, reconveyance fees and any prepayment penalties
ü Work orders if required by lender or agreed between parties (according to contract)
The above items range from 8.5% to 10% of sales price, usually closer to 9%.
