Date: Jun. 25, 2008
Tags: Buyers, Sellers, Negotiation Tips, Real Estate Staging

OK, you all agree. It’s time to move – Your current home is too small or large, you’ve experienced a job change or relocation. Maybe you just don’t like where you are…Whatever the reason, there are a lot of details that need to be addressed if you want this transition to be a smooth one. Utilities, school systems, postal service and more, you have a lot of decisions ahead of you. 

If you are buying, let’s start at the beginning: What are you qualified for? And what is the bank going to require from you in the purchase transaction? You may have a general idea but the only way to find out this critical information is to go to your local lender – your current bank is the best place to start. You are comfortable there, you can ask the questions you may have about the loan process and you can learn the amount you can spend. Don’t stop there! Should you shop around for the best rate and loan program? Sure, there are a lot of different programs – find the right one for you. And you should feel very comfortable with your lender. Do they seem knowledgeable and have the answers you need? If not, were they quick to get back to you with information? This is important – you need to have a good viable relationship with your lender. 

Qualifying will also let you know how much “cash” you need to have at closing. Closing costs are typically the Buyer’s expense and will be needed in the form of cash. That amount, along with your required down payment which is determined by your type of loan and credit, is needed at closing. Knowing this information will help when it comes time to begin your home search – you know what price range home you need to be viewing and, once you have located a suitable property, you will know how to negotiate your offer. This is the time to ask the Seller for help – rather than cutting the purchase price, you might consider asking for help with your closing costs. You may be able to get this seller concession that provides you with some of the needed funds at closing, possibly keeping your funds available for the new furniture and window treatments!

For Sellers, have you CLEANED your home? I mean Really Cleaned? Does the front door sparkle? Cat or dog odors inside? These things really DO matter! Take the time to walk through your home with a critical eye as if it’s your first visit. Ask a (honest!) friend to accompany you. What do you see? Replace broken window panes, light bulbs that no longer work, sort and pack unused items in the closets. Buyers want to look in cabinets and closets. Most people are inspired by orderliness and cleanliness; if your closets are clean, clothes sorted according to color or style and floors free of shoes and other items, you send the message that you are “in charge” of your life which also means that you have kept your home in order.  Kitchens and bathrooms are critical – clean countertops, put all items neatly away leaving very little out. Don’t forget the papers and miscellaneous items on your refrigerator!  You may need to pack some of your personal pictures and rearrange furniture for the best flow. I know – you like your chair over near the television for convenience but it obstructs the view and flow of the room. Remember, you are trying to make this home work for someone else – your wishes need to be secondary for this short time of marketing.

 Take a weekend and work in the yard. You know that hole in the backyard that your dogs dug? Fill it in! Throw away broken and unused children’s toys. Add some nice potted plants near the porch, pool or deck – make it a space that invites people to be there. Ultimately, that is what you are trying to do – you are hoping that your home presents itself in such a way that another family feels welcome there and wants to make your home, their home!   

Whether buying or selling, you may enlist the help of a REALTOR® to get the full benefit of their professional knowledge of the market and what it has to offer. With access to the Multiple Listing Service, you have the advantage of knowing all properties that are available, either as a possible home choice for buyers or as competition for the sellers. A full service broker can make the process a simpler one. I hope that this article will provide a few pointers that are helpful in getting started.

 

Submitted by

Ann E. Naylor

printed in The Sampson Sun, July 08