Question 1

How should I prepare my home for sale?

Accepted Answer

Preparing your home for sale is a multistep process.  The first step is to de-personalize and de-clutter as much as possible.  Step two, assess what repairs need to be done.  Work out a budget for improvements (not too large), and make sure that both the interior and exterior are "Show Ready."

Question 2

How/Who comes up with the selling price?

Accepted Answer

The list price is a figure that the seller and their listing agent agree on based on the prices of comparable recently sold properties in the same area, current inventory, prevailing market trends, and several other property and area-specific factors.

Question 3

What is Escrow and how does the process go?

Accepted Answer

Escrow is the actual process wherein the buyer and the seller deposit funds and relevant documentation with a neutral third party, which holds them in trust until all the conditions of the sale are fulfilled.  This allows for a more seamless sale and minimizes risk for both parties.  Escrow opens once both parties have signed the purchase agreement and delivered it to their escrow holder along with the escrow instructions.  A good faith deposit (earnest money) or initial down payment is typically delivered at the same time.  The escrow holder will then process the escrow according to the instructions.

Question 4

What should I do after attending an Open House?

Accepted Answer

First put the home into one of three catagories: You want the home, You're not sure, You hated the home.  YOU WANT THE HOME: Determine your best offer, Wait and be patient, Don't ignore your budget, Remember the inspection.  YOU'RE NOT SURE: Sleep on it, Know your deal-breakers, Go back for a personal tour, Consider you lifestyle.  YOU HATED THE HOME:  Identify the issues you didnt like, Broaden your horizons, Don't settle.

TR

REAL ESTATE

Frequently asked questions

How should I prepare my home for sale?

How/Who comes up with the selling price?

What is Escrow and how does the process go?

What should I do after attending an Open House?