Buyer Seller Tips

BUYER & SELLER TIPS

What is the first step to buying a home?

What are some negotiating tips?

---

How do you prepare a house to sell?

What are the two most important factors when selling a home?

What is the first step to buying a home?

Answer: Make sure you are ready - psychologically and financially. Ask yourself the following questions: Do I have steady income? Is my debt lower than my total income? Do I have enough money to pay for the down payment and closing costs? Am I working hard enough to improve bad credit? A house needs constant care and attention. Also ask yourself if your budget will allow for unexpected repairs and upkeep. Once you can honestly answer "yes" to these questions, you are several steps ahead of the game and that much closer to becoming a homeowner.

Return to Top

What are some negotiating tips?

Answer:Know the seller's motivation to sell. This will enhance your negotiating position. Sellers who must move quickly due to a job transfer, divorce, or contract on another home, are more inclined to accept a lower price to speed the process along.
Remember, too, that the listing, or asking, price is what the seller would like to receive for the home. It is not necessarily what the seller will settle for. So know value. Before you make an offer, check recent sales and listing prices of comparable neighborhood homes and compare them to the seller's asking price. Other tips:

Be flexible. Never say, “take it or leave it.” That can sour negotiations and ruin the deal.
Never show your hand or reveal your next step.
Each time you increase your offering price ask for something in return, such as repairs, appliances, even lawn furniture.
If you plan to pay cash or have a tentative commitment for a loan, use your strong financial position as a negotiating tool.
Don’t let emotions such as pride, fear, love, and anger get in the way of negotiating the best deal. Leave irrational feelings at home.

Return to Top

How do you prepare a house to sell?

Answer: Doing whatever you can to put your house's best face forward is very important if you want to get close to your asking price or sell as quickly as possible. Short of spending a lot of money, here are several ideas for making your home show better:

Sweep the sidewalk, mow the lawn, prune the bushes, weed the garden and clean debris from the yard.

Clean the windows (both inside and out) and make sure the paint is not chipped or flaking. And speaking of paint, if your home was built before 1978, new federal law gives a buyer the right to request a lead inspection. If you think you might have some problems, do the inspection yourself beforehand and make any fixes you can.

Be sure that the doorbell works.
Clean and spruce up all rooms, furnishings, floors, walls and ceilings. It's especially important that the bathroom and kitchen are spotless.
Organize closets.
Make sure the basic appliances and fixtures work. Get rid of leaky faucets and frayed cords.
Make sure the house smells good: from an apple pie, cookies baking or spaghetti sauce simmering on the stove. Hide the kitty litter.
Put vases of fresh flowers throughout the house.
Having pleasant background music playing in the background also will help set your stage.

Return to Top

What are the two most important factors when selling a home?

Answer: Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home's worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer.

In a down market, you may have to consider lowering your price and/or making a major repair, such as replacing the roof, in order to lure a buyer. Also, make sure that your home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage and a listing on the local multiple listing service or online listings provider.

If this isn't happening, take it up with your agent or agent's broker. If you are still not satisfied you are getting the service you need, you may have to switch agents.

Return to Top