Tools and Resources: Selling a Home

The Decision
The Realtor
The Market
The Disclosure
The Home
The Sale

The Decision
Whether you have made the decision to sell or are just considering it, Matthew realizes that it is an emotional decision to make. Odds are you are not selling a house, but a home. Moving is a major life change and can be overwhelming. Matthew has helped hundreds of people like you with the moving process. Let us worry about your real estate needs so you can dedicate your energies to other things.

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The Realtor

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The Market
Matthew knows your area and will provide you with market information to help you price your home. When pricing your home, it is important to look at your home from a prospective buyer's point of view. When you go to price your home, pretend that you are a potential buyer for the home. Look at what other homes are selling for in your area. Matthew will prepare a free CMA (comparable market analysis) for your home. The CMA should include:

• Homes currently available in the price range of your home (your competition).
  
  
• Homes that have recently sold in your area and how long they were on the market.
  
  
• Homes that were on the market but did not sell (maybe overpriced).

When considering the sale price of your home, don't add too much value for things that you have added to the home (that extra cabinet space in the garage or the new carpet may help your home sell first, but does not necessarily make it worth more money).

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Market Conditions: One of the keys to pricing your home is the market and your time frames. Matthew will help you determine your market conditions. You do not want to price your home too high in a downward market. You may believe that you can always lower the price later, but the longer your home is on the market the more a potential buyer may feel he can negotiate the price down. In a fast moving seller's market you may want to price the home a little higher, but be careful not to price yourself out of the market.

From a buyer's point of view, how much money would you have to put into your home after you bought it and what would it be worth when you were done? We all believe our home to be better than all the others on the street do, but the location determines the price.

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The Disclosures
Matthew will assist you in completing all required disclosures to meet current disclosure laws in your area. The simple rule to remember when you are filling out a disclosure is, "if it is a material fact that can affect the value of the home, then disclose it." (if you would want to know if you were buying your home, then disclose it.) It is in your best interest to tell everything you know up front. If a sale is going to fail due to a disclosure item it is better that it fail now and not end up in court later!

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The Home
Unless you want to price your home below the market and sell it as-is, you will want to do certain things to prepare your home for sale. Matthew can do a walkthrough on your home with you and point out the things from an expert's point of view that you may want to do before listing your home and before showing your home.

• The yard: clean up the yard, remove debris, replace dead plants, plant fresh flowers, clean up the driveway. Repair or replace yard furniture. Paint the fence, repair and refinish the deck, remove old vehicles and for goodness sake, get the old dishwasher off the front lawn!
  
  
• Inside: clean, update and repair. You don't need to remodel your home, but new paint, fixtures and carpets make a huge difference to a potential buyer. Small things like new outlet covers and light fixtures can make an older home look new. Steam clean carpets and deep clean kitchen and baths. Add mirrors to make the home feel more spacious.
  
  
• Remove extra furniture. Your home needs to feel light and spacious.

Inspections: Matthew can recommend inspectors in your area. Often sellers wait until they have a buyer to order inspections on their home. What most sellers don't realize, is that one of the leading causes of failed sales is the inability of buyers and sellers to negotiate repairs after entering into contract. If you order your basic inspections when you list your home you will know where you stand when you receive an offer and the buyer will be less likely to come back to you with demands during the escrow period.

The as-is sale: Most real estate contracts list certain repairs that you, the seller, may be responsible for, should problems be discovered during the course of escrow. You can limit your liability for these items by doing an as-is sale. The as-is sale does not eliminate your duty to make disclosures about your home, but it does limit your liability for repairs on the home. Matthew can explore your options with you.

Showing the home: when showing your home, you want to make your home feel good.

• Sight: Put out the animals, air out the house (air fresheners if needed). The smell of your home is the buyer's first impression. Do the laundry and clean, clean, clean.
  
  
• Sound: if you live in a quiet area, then the old adage that "silence is golden" holds true. If you're in a busy part of town, you may want to play some soft music when the home is being shown.
  
  
• Feel: make sure the thermostat is set at a comfortable level. If your home is too hot or too cold the buyer won't stay long enough to fall in love with it. Take the kids and the pets for a walk while the home is shown. Your dog and your daughter are adorable, but buyers will have a hard time picturing their family there if your family is there.

When you think your home is ready to be shown, invite Matthew to be your first buyer. He can pose as a buyer and point out things that are good and bad about your home from a buyer's point of view.

Fix the things you can and never apologize for the things you can't

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The Sale

Once you receive an offer on your home Matthew will help you negotiate terms that are acceptable to you. There is more to discuss than just price. Your agent will go over time frames, terms, price, the buyers financing options, disclosure issues, inspections, reports, and to review existing disclosures (this is called due diligence).

Matthew will go over the buyer's financing qualifications and ask for loan approval letters. You will need to work closely with Matthew to make sure the time frames you negotiate will work for you as well. If you have not already obtained inspections the buyer of the home may have the home inspected. Matthew will help you negotiate a fair agreement on any needed repairs. Once you have a buyer for your home, you will want to prepare for your move. If you are looking for a replacement home your agent will make sure that you have sufficient time to find a replacement home and perform your due diligence on that home.

If you are working with Matthew to buy a new home he will coordinate to make sure your move goes smoothly. You will want to negotiate for a short rent back period after close of escrow on your current home or an early occupancy on the home you are buying so you will have time to move.

This whole process can sound overwhelming, but Matthew has helped people through the process hundreds of times and will make sure your move is smooth from start to finish!

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You will want to contact important people and let them know your new address. You can call or mail change of address cards that are available at your local post office: click here for a printable version of this check list.

• accountant
  
• alumni associations
  
• appliance service contacts
  
• attorney
  
• banks
  
• book clubs
  
• catalog merchants
  
• charitable organizations
  
• church/synagogue
  
• credit cards
  
• dentist
  
• employers
  
• frequent flyer programs
  
• insurance companies
  
• investment companies
  
• IRS
  
• lending institutions
  
• magazine/newspaper subscriptions
  
• post office
  
• physicians
  
• stockbroker
  
• utility companies, i.e. PG&E, telephone, cable,
  veterinarian

Call ahead for, or ask Matthew to help you with the following: (click here for a printable version of this check list)

• order a phone directory for your new area
  
• set up new utilities and disconnect the old ones (cable,phone, garbage, water, gas and electric)
  
• compare and choose a new bank
  
• check school schedules and enrollment requirements
  
• locate doctors, lawyers and other professionals
  
• subscribe to the new local paper
  
• join a health club or transfer membership
  
• contact DMV to change your driver's license
  
• contact your health insurance to change to new doctors

Matthew, in coordination with your escrow officer, can prepare for you an estimated closing statement. The statement will show your proceeds from the sale less your cost of sale. Closing costs can include:

• Payoff of current loans
  
• Brokers commission
  
• Attorney's fees
  
• Unpaid property taxes
  
• Title insurance
  
• Transfer taxes
  
• Inspections and repairs ordered by the seller
  
• Recording fees
  
• Homeowner association transfer fees
  
• Document preparation
  
• Natural hazards disclosure reports
  

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