Things To Consider When Selling Your Baltimore House
Baltimore Real Estate

by Helene Kelbaugh of Keller Williams Legacy Metropolitan

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Things To Consider When Selling a Home 

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For the past two years, 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ latest Profile of Home Buyers & Sellers.

However, the report also revealed that for the second year in a row 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know.

Buyers search for a home online but then depend on an agent to find the actual home they will buy (53%) or negotiate the terms of the sale & price (31%) or understand the process (63%).

Stephen Phillips, the Chief Operating Officer for HSF Affiliates LLC, put it best: “Home buyers are more informed than ever with their Internet searches and ongoing research; however, there’s a critical need to transform that information into analysis and advice that helps consumers make the best home-buying and selling decisions.”

• 5 reasons to SELL your home NOW!
• The importance of using an agent when selling your home
• 5 reasons you shouldn't For Sale By Owner
• Home Prices Over Last Year
• Where are prices headed over the next 5 years
• Where are mortgage interest rates headed
• Don't wait!  Move up to the house you wanted
• Two things you don't need to hear from your listing agent
• Should I rent my house instead of listing it?
• Fannie Mae agree: Hire a Pro To Sell
• For Sale By Owners must be ready to negotiate

And so much more!!

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Preparing Your Home For Sale

Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or that opening drapes and blinds and turning on all lights make a room seem bright and cheery?

It's a fact: acquiring the highest market value and elevating your home above others in the same price range often comes down to first impressions.  

Here are some inexpensive ways to maximize your home's appeal:

Exterior Interior

• Keep the grass freshly cut.

• Remove all yard clutter.

• Apply fresh paint to wooden fences.

• Paint the front door.

• Weed and apply fresh mulch to garden beds.

• Clean windows inside and out.

• Wash or paint home's exterior.

• Tighten and clean all door handles.

• Ensure gutter and downspouts are firmly attached.

• Remove excessive wall hangings, furniture and knickknacks (consider a temporary self-storage unit).

• Clean or paint walls and ceilings.

• Shampoo carpets.

• Clean and organize cabinets and closets.

• Repair all plumbing leaks, including faucets and drain traps.

• Clean all light fixtures.

For Showings

• Turn on all the lights.

• Open drapes in the daytime.

• Keep pets secured outdoors.

• Play quiet background music.

• Light the fireplace (if seasonally appropriate)

• Infuse home with a comforting scent like apple spice or vanilla.

• Vacate the property while it is being shown. 

Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge; just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Here are the top 5 demands to make of your Real Estate Agent when selling your house:

1. Tell the truth about the price

Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank. The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

2. Understand the timetable with which your family is dealing

You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family (commission, length, etc.), don’t expect them to turn into a super hero when they are negotiating for you and your family with the buyer.

4. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

5. Get the house SOLD!

There is a reason you are putting yourself and your family through the process of moving. You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!

Closing 101

The closing process finalizes the sale of your home and makes everything official. Also known as settlement, the closing is when you get paid and the buyer receives the deed to your home. .

Here are a few things to bring to the closing:

• House keys

• Garage door opener(s)

• A picture ID

What can you expect? 

The closing agent will look over the purchase contract and identify what payments are owed and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer's title is recorded; and ensure that you receive any monies due to you. .

What are your costs?

Sellers commonly pay the following at closing:

• Mortgage balance and prepayment penalties, if applicable

• Other claims against your property, such as unpaid property taxes

• Unpaid special assessments on your property

• Document stamps (or taxes) on the deed

• Real estate commission

• Legal fee or title insurance premium

After the closing, make sure you keep the following for tax purposes:

• Copies of all closing documents

• All home improvement receipts on the home you sold