1031 Tax Exchange
https://www.fntic.com/1031comm.asp
IRS Home Foreclosure and Debt Cancellation
http://www.irs.gov/newsroom/article/0,,id=174034,00.html
FIRPTA Withholding
http://www.irs.gov/businesses/small/international/article/0,,id=105000,00.html
WHAT to expect when selling your home?
https://www.fntic.com/whattoexpectsell.asp
Marketing tools used to sell your home:
- Provide you a FREE Comparative Market Analysis
- Call Up For Sale Sign with custom rider
- List your home in the MLS (Multiple Listing Service)
- Conduct a 360° Virtual Tour for Local and Nationwide Advertising
- Advertise on Realtor.com and 22 National Websites
- Show your home off with Custom Color Flyers
- Open House to attract Buyers (as needed)
- Provide Excellent Customer Service to sell and purchase your next home
Curb Appeal:
- Majority of homebuyers actually decide their interest in a home before exiting the vehicle. Take a few minutes and stand across the street from your home to view the curb appeal. Always remember the first impression is extremely important. The yard should be neat and clean. The lawn and shrubs should be manicured. Keep parked cars out of obstructed view of your home. Perform any touch up painting necessary on the exterior of your home.
Front Entrance:
- Remember your front entrance is the main focal point prior to a REALTOR® or buyer entering your home. Keep the front entrance neat and clean. Remove all dead plants in pots and cobwebs hanging around.
Dejunk:
- Keep your kitchen countertops, bathroom countertops, shower stalls and tubs clean and clear of unnecessary items. Remove all magnets, pictures, messages, etc. from the refrigerator.
Neatness:
- Keep your home neat and tidy at all times. Make sure the beds are made and the dishes are done daily. Clothing should be put away, carpets should be cleaned and a fresh coat of paint on the walls, if needed.
Repairs:
- All minor repairs should be completed prior to showing, such as, chipped sinks, holes in the walls, missing doors, etc.
Odors:
- Be aware of odors, smells from cooking, smoking or pets can detour buyers.
Pets:
- Keep pets out of the way while a REALTOR® is showing your home. Pets seem to distract buyers.
No Verbal Agreements:
- Do not discuss anything concerning your home with a buyer. Leave the discussions to the REALTOR®. Do not discuss the sale of personal property or furniture prior to receiving an offer on your home.
Showing Your Property:
- Keep the drapes/blinds open.
- Turn on all the lights and ceiling fans.
- Have soothing music playing (i.e. smooth Jazz).
- Burn a candle or potpourri to make your home smell nice.
- TRY TO BE GONE!!
Remember… When a REALTOR® shows your home, the buyer(s) need to envision them living there. Be very critical of your home, everyone else will be!!
- With the Real Estate Marketing in our valley leaning towards Foreclosures, Short Sales and REO’s, it is very important to price your home right. I will prepare a very thorough and well researched Comparable Market Analysis on each listing.
Aspects that DO NOT affect a homes value:
Price you paid for your home.
- Your opinion of your homes worth.
- The amount of cash needed to purchase your next home.
- What another REALTOR® says your home is worth.
- The amount and time involved when remodeling or custom decorating your home.
Aspects that DO affect a homes value:
Location of your home.
- Comparable sales within the last six months.
- Major improvements to your home (i.e. pools, covered patios, landscaping, etc.)
- Condition of your home.
- Current competition on the market.
- The amount a buyer will pay based on his/her comparison of your home with others currently on the market or neighborhood. REALTORS® and sellers set the list price, but the buyers determine the value.
Dangers of Overpricing:
- Majority of buyers won’t even look, due to thinking the home is out of their price range.
- Appraisal rejections.
- Sends a message to buyers that the seller is not motivated.
- Helps sell the competition.
- Lengthens marketing time.
- Potential increase of no or low offers.
Seller’s Financial Responsibilities:
https://www.fntic.com/sellersresp.asp
REALTORS® Help Home Sellers reach their goal
https://www.fntic.com/realtorhelp.asp
Meeting with REALTOR®
- Setting Price
- Agree on a Marketing Plan
- Complete Listing paperwork
Sign Installation
Showing the Property
- Lockbox will allow REALTORS® access to your property throughout the day and help sell your property. A lockbox records every agent that enters your home.
- No Lockbox will require you to schedule appointment with REALTORS® and will detour agents from showing your home. REALTORS® are lazy and majority will not show homes without a lockbox.
Offer received by Listing Agent
- Offer is reviewed by Listing Agent for high points and low points to Counter.
- Listing Agent prepares a Net Sheet using specifics of Offer.
- Listing Agent schedules an appointment to review Offer.
- Listing Agent presents Offer to Seller. The Listing Agent explains what the Buyer is proposing and how it will effect the Seller.
- Seller can accept or reject the Offer
- If Offer is rejected, the Seller can submit a Counter Offer.
- The Buyer can accept or reject the Counter Offer.
This process continues until an agreement is reached or negotiations cease.
Once an agreement has been reached between the Seller and Buyer, the Buyers Agent opens Escrow.
From the date of acceptance of an agreement, the Buyer has a 10-15 calendar days due diligence period to perform any inspections on the property.
- Home Inspection (Listing Agent to attend)
- Pest/Termite Inspection (Seller to order)
Once inspections are complete, the Buyer can request a list of items to be fixed on home.
- Seller agrees to fix items.
- Seller will release dollar amount, specified in contract for repairs, to Buyer at close of escrow to fix repairs.
- Buyers Lender will order the appraisal.
Seller to obtain “Seller Package” from Homeowner Association for Buyers review and approval.
- To be delivered to the Buyer within 10 calendar days from the date of acceptance of an agreement.
Listing Agent to follow up on all contingencies and loan approvals.
Listing Agent to set up final walk through (Listing Agent to attend)
Listing Agent to schedule Escrow appointment (Listing Agent to attend)
Schedule Transfer of Utilities
- At this point, it is a good idea to contact the Utility Companies to transfer services.
Closing and Transfer of Property
- Once loan documents are signed, the lender will fund the loan.
- Once funded, the Title Company is able to record all document.
- Once recorded, the Buyer is eligible to take possession of the property and receive the keys
The Title Company will have the Sellers funds ready for pick up within 1-2 business days.
- Listing Agent to pick up funds for Seller and deliver to Seller.
