Real Estate Questions Answered Here
by Art Santellen, REALTOR®
How to sell your home, part 3.
You will recall that your reason for wanting to sell your home was a critical element that affects every aspect of your home-selling experience. If you must sell within, say, 30 to 60 days, you should set your asking price below market value to attract a quick sale. But, how do you know what a competitive or market price is in dollars? The quickest way to find out the market value of your home is to call a Realtor. So let's say you talk to 4 Realtors and they each give you a different market value for your home. You then average the 4 market values you've obtained for your home and YOU set the asking price. After all, you know better than anyone does why you want to sell your home. As you can probably imagine, I have a checklist to help you select a Realtor. If you want a copy, simply
give me a call at 457-4960.
Remember that Colorado law provides for the buyer to inspect your home by a certain date. If, by that certain date, the buyer wants to get out of the deal... .the buyer simply sends you a pre-printed form that says, "Forget it. I don't want to buy your home. Generally speaking, the buyer will give you a list of repairs he or she wants you to make to the property.
While there's nothing you can do to stop a buyer from inspecting the physical condition of your home, there are a few things you can do to make sure it's not a traumatic event in your life.
Painting. People who try to buy a home using VA or FHA loans will have a government appraiser look over your home. The current philosophy in government is to look for peeling paint or exposed wood surfaces. Before you put your home on the market, paint everything inside and out.
Pruning. Imagine two houses identical in every respect except one: landscaping. One, has weeds growing, patches of dirt showing where the lawn should be, dead and dying trees, overgrown bushes. The other has neatly mowed lawn, plants in bloom, healthy trees and bushes, perhaps even a small vegetable garden. Which home is worth more money?
Packing. Now is the time to pack away those nonessential items around the house. If you still have last year's Christmas decorations, well, pack them away If you have lots of family photos on the wall, taken most of them down and clean the wall. Toys, extra linen, knic knacks, spare kitchen appliances and utensils, pack them all away. .neatly
Cleaning. Keep your house clean, really clean. Tell your kids to keep their rooms neat and orderly Put dirty laundry in a hamper The two most important rooms to keep clean are the kitchen and the bathroom. Clean your house as if your Mother-in-law was coming for a weekend visit.
Fixing. Torn window screens, broken windows, kitchen appliances that don't work, electric outlets where you have to spread the lamp prongs for it to turn on, loose door knobs, toilet hardware that you have to jiggle in order for the water to stop running. All these minor home repairs should be, well, repaired.
Replacing. This is a tough one to talk about. These are things that ought to be replaced but cost a lot of money Things like water heaters, furnaces, roofs, carpeting, stoves, siding, foundations. To fix or replace these things cost hundreds if not thousands of dollars. Before you replace any of these things you may want to talk to your Realtor Here are the three most important questions to ask him or her. How will replacing (blank) affect the sales price of my home? If I don't replace (blank), will buyers still be able to get a loan based on the physical condition of my home? Should I get quotes to replace (blank)?
Clean some more. You know, there are places around town you can go to see what your home should look like if you want to sell it. Take a day this weekend and visit a home builder Visit their model homes. What do you see? New paint everywhere. Clean yards. No clutter in the house. Every room is neat and clean. Everything works. Get the idea? Your home is in competition with other homes for sale in your neighborhood. Make yours a model home.
Next week, you'll learn more of the things you have to do to help sell your home, After all, the Realtor's job is to get potential homebuyers to your front door After that, the ball's in your court. All these issues will be discussed next week, right here in Hispania News.
Next week: the continuation of a 5-part series on how to sell your home.
NOTE: As you can see, I really do get questions from the public. To add your question to this list, please send them to me at the address listed below. Thanks.
The answers to these, and other fascinating real estate questions will be answered here, in Hispania News, next week.
When you're ready to buy or sell a home, see a REALTOR®
Art is a REALTOR® with Heritage Realtors in Colorado Springs.
If you have a real estate question you’d like answered, please send them to:
Art Santellen, care of Hispania News
PO Box 15116
Colorado Springs, CO 80935
You may also send your question directly to Art via email at ASantellen@hotmail.com