20 STEPS TO SELLING YOUR OWN HOME
Step 1 Conduct your own mini walk-through inspection. Make notes of all items that need repair or improvement. Your checklist might include:
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Fresh, clean paint throughout.
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Clean windows and window coverings throughout.
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Well-manicured lawn and yard.
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Plumbing and all appliances in working order.
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New or cleaned carpet.
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All sealants (window, tub, shower, sink,etc.) in good condition.
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Roof and gutters in good repair; no repair needed.
Step 2 Make all necessary repairs and improvements before you begin to advertise your property.
Step 3 Carefully research information regarding the prices and terms of sales in today's real estate market. Investigate recent sale prices for properties similar to yours in your immediate area. Then establish a realistic price for your property based on that information.
Step 4 Meet with local lenders and determine financing alternatives for your prospective buyers.
Step 5 Determine which Internet sites, newspapers and home magazines, etc., willl best advertise your property. Call them for rates and deadlines.
Step 6 Establish an advertising budget. Prepare a contingency advertising budget in case your home does not sell as quickly as you anticipate.
Step 7 Prepare a professional, attention-getting advertisement that will attract the right buyers to your property. Place your ad in the newspaper(s). Upload your photos to the Internet.
Step 8 Prepare a plan to reach tose out-of-town buyers who account for a major portion of today's home purchasers.
Step 9 Purchase an eye-catching and weatherproof yard sign; install it in the front of your property.
Step 10 Purchase special "open house" signs and position them in paths that lead from main roads or thoroughfares, through the neighborhoods and to the property. Put these signs up each time you hold an open house and be sure to take them down after each open house.
Step 11 Prepare a "feature/benefit" fact sheet outlining specific features of your home and the corresponding benefits to prospective buyers.
Step 12 Schedule and conduct open house "weekdays" as well as open house weekends. Make your property more inviting by placing freshly cut flowers in several rooms. You might burn scented candles in the living room, kitchen and baths. The aroma of freshly baked bread or cookies also adds to the ambiance of your property.
Step 13 Be available at all times so that you can walk through the property with prospective buyers to answer their questions and offer information about local schools, parks, transportation, shopping, places of worship, etc.
Step 14 Respond to telephone and e-mail requests for information in a timely manner. Learn how to separate the "lookers" from qualified buyers. Ask for names and phone numbers and be sure to follow up with telephone calls.
Step 15 Be prepared to negotiate with the buyer(s) as though you are an impartial third party. Remain calm and refrain from any emotional outburst that might spoil a sale.
Step 16 Obtain all forms necessary for the legal sale of real property such as:
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Buyers Cost Sheet.
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Deposit Receipt & Offer To Purchase.
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Seller's Disclosure Form. In our increasingly litigious society, it is imperative that all known defects be disclosed to the buyer(s).
Step 17 Determine the type of financing that you are willing to consider, such as:
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FHA
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VA
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Seller Carryback First Loan
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Conventional Loan with Seller Carryback Second Loan
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"Wrap Around" Loan
Step 18 Negotiate with the buyers all final terms of the sale including price, financing, inspections, date of closing, date of posession and other pertinent considerations.
Step 19 Plan a final walk-through with the buyers before the settlement process is complete in order to resolve any disputes. Have a witness present.
Step 20 While you are marketing your current property, locate and negotiate to purchase your next home. Attempt to schedule both transactions so that they close simultaneously. In this way, you and the buyer are able to move at the same time.
Many people are very comfortable in the role of "For Sale By Owner". You may find that you are one of those people. Whether you choose to take on the task of selling your property alone, or prefer to work with a real estate sales professional, I would be happy to help you get started by providing you with a complimentary HOME MARKET EVALUATION.
TRACIE WEAVER
(402) 812-2626
Prudential Ambassador Real Estate
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