Real Estate Tips That Every Seller Should Know
When you are trying to sell your home you should keep in mind that not everyone has the same mindset that you have. This means that you may have to make a few adjustments in order to get your house off the market in a decent amount of time.
During the escrow, you are given numerous documents including one called the Good Faith Estimate. Read these forms as they explain the fees and charges you are expected to pay. Look for duplicates, unusual items, or fees higher than normal, as they are usually designed to increase the loan originator’s profit margin.
To make the carpet in your real estate last longer you should never use a steam cleaner to clean the carpet. The water starts to break down the fibers that make up the back of the rug and when they dry they become more brittle. Find a service that uses a dry cleaning process instead.
If you need full service from a real estate agent in selling your house, you will need to give him the “exclusive right to sell” your house. That means he will advertise and market your house and list it in the Multiple Listing Service. When your house sells, he will earn a commission.
Pay close attention to the commission terms stated in the listing contract that you sign with your real estate agent. Generally speaking, the agent earns his or commission when the buyer and seller reach an agreement. However, if for some reason you decided not to sell your home after reaching an agreement, your agent may still be entitled to commission. This amount can easily total thousands of dollars, and you are legally obligated to pay it.
Offer to do an open house when selling your home. Have your real estate agent set up all the details and get the word out. This way, you can have many potential buyers looking at your home rather than only having one at time on all different days and times.
Do not be picky about the time or day that a potential buyer wants to look at your home. Even though no one wants to get up bright and early on the weekend, this may be the time that a potential buyer wants to come. Remember, being flexible helps your home to sell faster.
Hold on to your house for at least two years. If you sell your home, even if it is your primary residence prior to the two year mark, you could be looking at a hefty capital gains tax. You can avoid this if you have owned and lived in, a property for more than 2 out of the last 5 years.
There are no guarantees in life, but you can be certain that being open-minded to change is the first step to selling your home. While you should not do too much to a home that you are trying to sell, there are small things that will really make a difference.