|
Selling a Home
Prequalification/Budget
Your first step, if you are financing the purchase of your new home,
is to contact a Mortgage Lender. Contact
us if you would like a list of Mortgage Lenders.
Contacting a Mortgage Lender is important whether you are a First Time
Buyer or a Home Owner. Your ability to obtain a mortgage is based on
your credit. A call to a Lender requesting loan qualification will expose
any problems in this area and allow them to be dealt with up front.
There are a wide range of Mortgage Programs that can be tailored to
fit your needs. Adjustable Rate Mortgages (ARM's), 100% loans, No Document
mortgages, First Time Buyer programs are just a few of the options available.
A Lender can direct you to the program that works for you.
Prequalification with a Lender allows you to decide on how much home
you want to buy, what your upfront costs will be and the amount of your
monthly mortgage payment. Your Lender can provide you with a Good Faith
Estimate on any property showing you all this information.
Locating a home
Start working with a professional real estate
broker right away whether your need is immediate or in the future.
You will be directed to an up to date source of full information property
listings that meet your needs.
Real estate listing sites can be a useful resource but navigation is
cluttered with ads (pop ups!), the listings are not always up to date
and the information provided for each property is minimal. You can spend
considerable time surfing the web only to find properties that are not
in desirable locations, that are missing the features you want and that
are no longer available.
Weekly and Monthly real estate publications again provide limited information.
You can be sure that the listings are not current and that the most
attractive properties are probably already under contract. These publications
are designed to encourage you to call an agent.
Click here for your own Customized Home
Search or here if you would like to be contacted
by an agent.
The Purchasing Process
Buying a home in North Carolina and the Triad is a simple, relatively
inexpensive and quick process.
All offers must be in writing. We use an Offer
to Purchase and Contract. Your real estate professional assists
you in tailoring your offer to reflect your type of financing and
advises you on making a competitive offer. Typically an earnest money
deposit of 1% to 2% of the Purchase Price accompanies the Offer.
Once the Sellers have accepted your offer, Home, Pest and Radon Inspections
are scheduled. Repairs indicated by your inspections are negotiated
with the Seller. You are allowed to void the contract if the Seller
does not agree to your repair requests.
Your Attorney handles the property closing. Fees for the Title Search,
completion of Closing Documents and Deed Recordation range between $400.
to $600.
Property Closing is scheduled for 30 to 45 days from the date of Contract
with possession usually granted on the day of Closing. Click
here if you would like to be contacted by an agent.
How much is your house worth?
We provide you with a Comparative Market Analysis (CMA). Your property
is compared to other like houses of similar construction in similar
neighborhoods that are presently for sale and those that have sold recently.
This information is combined with our knowledge of the real estate market
to arrive at a recommended List Price for your property.
Based on your CMA, an Estimated Net Proceeds (ENP) calculation shows
you an estimate of all the costs associated with the sale of your house.
This information will give you an indication of the monies you can realize
from the sale of your property.
You can obtain your CMA and ENP at no cost and at no obligation. To
arrange for an agent to view your property click
here.
Preparing your house to sell
A house that is not properly prepared for sale will take longer to
sell and will sell for 20 to 30% less than it should.
A real estate professional can provide you with a Showing Analysis
of your house detailing what needs to be done to place your property
on the market. To schedule an appointment for your no cost Analysis click
here.
Most of the preparation to sell your property is cosmetic in nature.
Starting with the first impression, curb appeal, to the interior preparation
you can view a list of our recommendations to you to make your selling
experience as brief and as profitable as possible. (Click
here to view list)
The Selling Process
Listing your home with a Broker is the first step. You will be asked
for a listing commitment, usually 6 months or longer, and negotiate
a sales fee that is normally based on a percentage of your property's
sale price. Click to view a copy of the Exclusive
Right to Sell Listing Agreement and the mandatory Residential
Property Disclosure Statement you'll be asked to sign.
Our commitment to you is to sell your property in the shortest amount
of time and at the best possible price. Your property is advertised
in all the major color media plus exposed on all the real estate web
sites and immediately listed on the MLS. In house and at the road promotion
pieces are used as well as Open House events where desired.
An electronic key box is placed on your house to allow real estate
agents access. In addition to providing the highest level of security,
this device records who visited your home and when.
All offers are presented along with an Estimated Net Proceeds as soon
as possible after receipt. We assist in the negotiation process with
our goal being a signed win/win Contract. Click
here to have an agent contact you to list your home.
Closing on your house
A Contract on your property is just the beginning of a successful closing.
Buyers have the right to perform Inspections and to ask for deficiencies
to be remedied. You have the option to refuse to complete any requested
repairs with the understanding that the Buyers can then terminate the
Contract.
Your agent assists in the negotiation of repairs and obtains signatures
on the required Repair Agreements. Typically, pest infestations and
higher than acceptable levels of radon gas are not negotiable with the
cost of treatment and remediation being borne by you, the Seller.
Closing is scheduled with the Buyers' attorney. They will prepare your
closing documents and the HUD-1 Settlement Statement showing your expenses
and net proceeds from the sale of your property. This is reviewed and
approved prior to closing.
Buyers are granted possession of your property at closing unless an
Occupancy Agreement is negotiated. |