When you’re selling your home, you likely have many questions about the process. It can seem foreign, confusing, and overwhelming. Luckily, CENTURY 21 North East is here to help you! We are answering some important questions to provide you clarity and peace of mind.
How are list price and sale price different?
The list price is the price you set with your real estate agent. It’s the goal price to sell your home for. A correctly priced home is important so your property sells quickly and does not sit on the market for ages. The sale price is the actual price that your home sells for after negotiations. Our agents try to ensure the list and sale price are as close to each other as possible to get you the best value for your home!
How much is my home worth?
You can use our free home value estimator tool to check current market values for your home and view profiles of potential buyers. You can also use our market analysis tool to find out what your home is worth. There are many home value tools on the internet, but oftentimes they are not accurate. Our agents have years of experience selling homes in New England neighborhoods just like yours, so they have a good idea of what your home will sell for.
How do I get my home ready to sell?
Make sure to deep clean and declutter your home before open houses or showings. You want your home to seem as spacious as possible, so cleaning it will open up space. Make sure you arrange furniture so buyers are not forced into small spaces or narrow paths while touring your property. Additionally, make some small fixes around the house, like fixing any broken door handles or windows. Taking high quality photos of your home will help it sell as well. Shooting photos on a sunny day with blue skies will make your house pop on camera.
What is a contingency clause?
A contingency is a condition that needs to occur to keep the transaction moving forward. There are many different kinds of contingencies, the most common being inspection, financing, appraisal, title, and home sale. An inspection contingency allows buyers to receive reports for all the inspections you've elected with recommendations on how to remedy the home's problems before they follow through with the sale. Similarly, financing allows buyers to ensure they have a loan before continuing the process, and an appraisal contingency lets buyers get out of the sale if the list price is higher than the appraised value. A title contingency lets buyers out of a deal if there is the possibility of contested ownership or similar issues with the title deed. Finally, a home sale contingency protects buyers who want to sell one home before purchasing another. It’s in the seller's best interest to be aware of the different types of contingencies to keep the transaction running smoothly.
How much are closing costs?
Buyers and sellers are both responsible for closing costs. Buyers bear the responsibility of paying for an application fee, credit report, title insurance, property taxes, escrow fees, origination fee, underwriting fee, etc., usually amounting to about 3% of the selling price. Sellers are responsible for paying the real estate agent’s commission, which can be about 5-6% of the selling price and is split between the buyer and seller agent.
How long does it take to sell a home?
Historically, homes sell in about 45-65 days, but it depends on the market and time of year of the sale. Homes could sell in two weeks in a hot seller’s market in the springtime, but it would be a different story in a buyer’s market in the wintertime. Consider your local market and the time of year when thinking about how long your home will take to sell.
What should I disclose to potential buyers?
States vary on what you must legally disclose to buyers, but ethically, you should disclose everything you know about the home to potential buyers. You do not need to point out every shortcoming of your property, but it is a good idea to call attention to environmental issues, like lead paint or mold, pest infestation like termites or carpenter ants, natural hazards, construction defects like plumbing problems, or HOA rules or property line disputes if the home inspector does not see them first.
Great! Now what?
Contact CENTURY 21 North East to get in touch with one of our agents and start the process of listing your home today! We can’t wait to work with you.