Frequently Asked Questions

GENERAL QUESTIONS


Buying or selling a residence is an exciting and often overwhelming experience, even for the seasoned homeowner. Therefore, when selecting an agent, the two main aspects are to find one that you trust and that you are comfortable with. Sometimes, the best source may be a third party- such as a friend or family member. Many of them have sold properties in the past and can refer you to an agent that they have found to be more than capable. Remember, selling a home is a complex transaction, so the agent's experience should definitely be taken into consideration.

Fees vary depending on the type of property as well as what is negotiated within the midst of the sale. Your realtor will be able to provide you with an estimate in order to give you a better idea of what is to be paid as part of the sale. Some of these costs may or may not include:

  • Lender fees
  • Escrow fees
  • Home inspections
  • Appraisals

You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that may influence the price of your home:

  • Current real estate market conditions
  • The expertise and market knowledge of your real estate representative
  • Hard facts such as lot size, square footage, condition of your home, etc.
  • Desirability factors including location, special amenities, and property attributes
  • Both the selling and listing price of comparable homes in the area
  • A sophisticated real estate marketing plan
  • Your own level of motivation

Compare other homes in your area. DO NOT OVER PRICE - most buyers have many resources to compare with. The buyer will then submit what is considered a fair offer. Remember that double strength nails do not increase your homes price. If you need to reduce the price , buyers will submit an even lower price.

When a property is overpriced, opportunity is missed. Both the broker and buyer interest is at its highest when a property is initially placed on the market. But, if the property is priced above a realistic market value, the excitement and number of showings are greatly reduced. Later, it may be necessary to adjust the price below market value to compete with new, competitively priced listings.

You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that MAY influence the price of your home – current real estate market conditions, the expertise and market knowledge of your agent, hard facts (such as lot size, condition of your home, etc.), desirability factors including location and special amenities, as well as your OWN level of motivation.

Here are a few ways that your participation can contribute to a successful real estate turn out: maintaining the appearance and functionality of the property, ensuring the property is easily accessible for showings, communicating with your agent, remembering to remove and/or lock up any of your valuables, and always limit conversations with anyone about prices.

Fees vary depending upon the type of property as well as what is negotiated within the midst of your sale/purchase. Your realtor will be able to provide you with an estimate in order to give you a better idea of what other factors may be involved.

Escrow is typically defined as an unbiased third party in a major financial transaction (such as real estate) between two parties that holds a valuable asset, such as cash, until the transaction is complete. When you hear someone refer to something as “being in escrow”, they mean that the asset is currently being held by that third party.

Often, escrow is required for any actual home purchase to occur. Keep in mind, that once money is placed down, it will be considered in escrow before the deal goes through. Consider escrow a safe place for money to be held - because once the property is considered to be in satisfactory condition, the money from the escrow account is released on the closing date.

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