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Selling Tips

Steps to Preparing for an Open House

  1. Hire a cleaning service. A spotlessly clean home is essential; dirt will turn off a prospect faster than anything.
  2. Mow your lawn, and be sure toys and yard equipment are put away.
  3. Serve cookies, coffee, and soft drinks. It creates a welcoming touch. But be sure the kitchen has been cleaned up; use disposable cups so the sink doesn't fill up.
  4. Lock up your valuables, jewelry, and money. Although the real estate salesperson will be on site during the open house, it's impossible to watch everyone all the time.
  5. Turn on all the lights. Even in the daytime, incandescent lights add sparkle.
  6. Send your pets to a neighbor or take them outside. If that's not possible, crate them or confine them to one room (a basement or bath), and let the salesperson know where to find them.
  7. Leave. It's awkward for prospective buyers to look in your closets and express their opinions of your home with you there.

Moving Tips for Sellers

  1. Give your forwarding address to the post office, usually two to four weeks ahead of the move.
  2. Notify your credit card companies, magazine subscriptions, and bank of the change of address.
  3. Develop a list of friends, relatives, and business colleagues who need to be notified of the move.
  4. Arrange to have utilities disconnected at your old home and connected at your new one.
  5. Cancel the newspaper.
  6. Check insurance coverage for moved items. Usually movers only cover what they pack.
  7. Clean out appliances and prepare them for moving, if applicable.
  8. Note the weight of the goods you'll have moved, since long-distance moves are usually billed according to weight. Watch for movers that use excessive padding to add weight.
  9. Check with your condo or co-op about restrictions on using the elevator or particular exits.
  10. Have a “first open” box with the things you'll need most—toilet paper, soap, trash bags, scissors, hammer, screwdriver, pencils and paper, cups and plates, water, snacks, and toothpaste.

Moving Tips for Sellers

  1. Give your forwarding address to the post office, usually two to four weeks ahead of the move.
  2. Notify your credit card companies, magazine subscriptions, and bank of the change of address.
  3. Develop a list of friends, relatives, and business colleagues who need to be notified of the move.
  4. Arrange to have utilities disconnected at your old home and connected at your new one.
  5. Cancel the newspaper.
  6. Check insurance coverage for moved items. Usually movers only cover what they pack.
  7. Clean out appliances and prepare them for moving, if applicable.
  8. Note the weight of the goods you'll have moved, since long-distance moves are usually billed according to weight. Watch for movers that use excessive padding to add weight.
  9. Check with your condo or co-op about restrictions on using the elevator or particular exits.
  10. Have a “first open” box with the things you'll need most—toilet paper, soap, trash bags, scissors, hammer, screwdriver, pencils and paper, cups and plates, water, snacks, and toothpaste.
Plus, if you're moving out of town:
  1. Get copies of medical and dental records and prescriptions for your family and your pets.
  2. Get copies of children's school records for transfer.
  3. Ask friends for introductions to anyone they know in your new neighborhood.
  4. Consider special car needs for pets when traveling.
  5. Let a friend or relative know your route.
  6. Carry traveler's checks or an ATM card for ready cash until you can open a bank account.
  7. Empty your safety deposit box.
  8. Put plants in boxes with holes for air circulation if you're moving in cold weather.

 

 

Decide whether moving up makes sense.

  1. How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of paying a mortgage, but if you've owned your home for a number of years, you may have significant unrealized gains.
  2. Has your income increased enough to cover the extra mortgage costs and the costs of moving?
  3. Does your neighborhood still meet your needs? For example, if you've had children, the quality of the schools may be more of a concern now than when you first purchased.
  4. Can you add on or remodel? If you have a large yard, there might be room to expand your home. If not, your options may be limited. Also, do you want to undertake the headaches of remodeling?
  5. How is the home market? If it's good, you may get top dollar for your home.
  6. How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.

Things to do Before You Sell

  1. Get estimates from a reliable repairperson on items that need to be replaced soon, such as a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs.
  2. Have a termite inspection to prove to buyers that the property is not infested.
  3. Get a pre-sale home inspection so you'll be able to make repairs before buyers become concerned and cancel a contract.
  4. Gather together warranties and guarantees on the furnace, appliances, and other items that will remain with the house.
  5. Fill out a disclosure form provided by your sales associate. Take the time to be sure that you don't forget problems, however minor, that might create liability for you after the sale.

Terms to Watch for in a Purchase Contract

  1. The closing date . See if the date the buyer wants to take title is reasonable for you.
  2. Date of possession . See if the date the buyer wants to move in is reasonable for you.
  3. The earnest money . Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.
  4. Fixtures and personal property . Check the list of items that the buyer expects to remain with the property and be sure it's acceptable.
  5. Repairs . Determine what the requested repairs will cost and whether you're willing to do the work or would rather lower the price by that amount.
  6. Contingencies . See what other factors the buyer wants met before the contract is final—inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won't drag on and keep your sale from becoming final.
  7. The contract expiration date . See how long you have to make a decision on the offer.