|
| ||
| sc_realty_of_columbia_home_sellers_guide.pdf |
Seller Checklist
|
1. Listed within suggested range.
2. Room for negotiation 3. All items on "Prepare Your Home" list completed. 4. Lock box - easy access. 5. Always prepared for showings. 6. No one home. 7. Pre-termite inspection. 8. Pre HVAC inspection. 9. Offering Home Warranty. 10. Regularly check brochure box and inside flyers. 11. Call in showings in a timely manner. |
Our Job / Your Job
Our job is to expose your home to the real estate community, to make agents and buyers aware of it's existence and get them excited about seeing it. This is accomplished in a variety of ways, including CML, advertising, flyers, personal calls and luncheons. However, our efforts are fruitless if your check list is not in order.
It is important to realize that we are not dealing with just your home. All agents and buyers will see not only your home but probably many other homes in your same price range. If your home shows better and is priced as attractively or more attractively than others viewed, it will sell. If not, your showings will sell other houses.
It is important to realize that we are not dealing with just your home. All agents and buyers will see not only your home but probably many other homes in your same price range. If your home shows better and is priced as attractively or more attractively than others viewed, it will sell. If not, your showings will sell other houses.
Going Out of Town?
If you will be out of town for more than 24 hours, please give us a call and leave a telephone number where you can be reached. We would hate to lose an offer on your home because the buyers either could not or would not wait for us to track you down.
Brochure Box
In an effort to give your home greater exposure, we have provided for you a brochure box to hold flyers giving information about your home.
We have found the brochure box to be one of our leading sources of calls and sales. It is, therefore, very important to you and us that your brochure box be filled at all times if possible. We communicate with you frequently and make every effort to meet your needs. However, it is not possible for us to check your brochure box daily. Please lend us a hand in this effort. Check your brochure box a couple times each week as you come and go. We will provide you with the brochures for your box as well as a supply to use when it starts to get low. When this second supply is put in your box, please call and let us know so that we may have time to print and get to you more flyers before it starts to run low again. This effort will hopefully, eliminate your box from ever being empty.
Remember, it may take time, sometime days to have new flyers to be made and delivered for inside and outside your home. Please call us when they get low.
We have found the brochure box to be one of our leading sources of calls and sales. It is, therefore, very important to you and us that your brochure box be filled at all times if possible. We communicate with you frequently and make every effort to meet your needs. However, it is not possible for us to check your brochure box daily. Please lend us a hand in this effort. Check your brochure box a couple times each week as you come and go. We will provide you with the brochures for your box as well as a supply to use when it starts to get low. When this second supply is put in your box, please call and let us know so that we may have time to print and get to you more flyers before it starts to run low again. This effort will hopefully, eliminate your box from ever being empty.
Remember, it may take time, sometime days to have new flyers to be made and delivered for inside and outside your home. Please call us when they get low.
Feedback
During your listing period, agents will preview and show your home to potential buyers. The opinions of how these agents and potential buyers see your home as compared to other properties in the market place can at times be beneficial to you and us in making improvements or adjustments to make your home more salable.
We are aware when someone accesses your lock box, so even if someone catches you as you are leaving the home to be shown please allow the agent to access the lock box. I will know who is showing the home and what company they work for.
This is important because we make every effort to follow up with these agents to obtain feedback for you. However, many agents are out of the office a great deal either listing, selling or previewing homes. After a week or two, it is often difficult for agents to remember details of a particular home if they have seen 50 others. It is important that we follow up on showings as soon after as possible.
Some agents are very good about returning our calls and others are not. We cannot control those who will not take the time to return our calls or take the time to provide us with feedback. We will get as much feedback for you as possible and this information will be sent to you on a regular basis.
If a suggestion is made which we feel needs to be evaluated or shows up repeatedly, we'll touch base with you regarding this matter. Always remember - if you have any questions, please call us.
We are aware when someone accesses your lock box, so even if someone catches you as you are leaving the home to be shown please allow the agent to access the lock box. I will know who is showing the home and what company they work for.
This is important because we make every effort to follow up with these agents to obtain feedback for you. However, many agents are out of the office a great deal either listing, selling or previewing homes. After a week or two, it is often difficult for agents to remember details of a particular home if they have seen 50 others. It is important that we follow up on showings as soon after as possible.
Some agents are very good about returning our calls and others are not. We cannot control those who will not take the time to return our calls or take the time to provide us with feedback. We will get as much feedback for you as possible and this information will be sent to you on a regular basis.
If a suggestion is made which we feel needs to be evaluated or shows up repeatedly, we'll touch base with you regarding this matter. Always remember - if you have any questions, please call us.
Occupancy
Your contract of sale will address the terms negotiated between the purchaser and seller as to when occupancy will be given over to the purchaser. Most contracts state that occupancy will be given to the buyer 24 hours after closing. However, in some instances this can vary. Please review the occupancy portion of the contract to determine the terms of our particular situation.
We understand that neither purchasers nor sellers can wait until the last minute to make moving arrangements, etc. However, you need to be aware that sometimes situations come up at the last minute that may prevent a closing from taking place on the agreed date. Title work, surveys, etc. are not generally ordered by attorneys until the week of closing as this information must be as current as possible. Old liens and encroachments can show up, even sometimes in error. It still takes time to correct the error.
Most moving companies, particularly at certain times of the month are booked 30 days in advance. It is advisable to schedule your move in advance even if it has to rescheduled at a later date. We suggest you consider scheduling your packing a several days before the closing and schedule the actual move a couple of days before closing unless other terms have been agreed upon.
Often times, sellers will schedule a move according closing to when "family and friends can help". If you feel this is your only alternative, just be aware of the risk.
If you are in a position where you need to make arrangements for an interim move, perhaps a rental, this also often needs to be arranged ahead of time. Again, put yourself at as little risk as possible. It is a good idea to at least touch base with me to make sure I am not aware of any potential problems prior to making such a commitment.
We understand that neither purchasers nor sellers can wait until the last minute to make moving arrangements, etc. However, you need to be aware that sometimes situations come up at the last minute that may prevent a closing from taking place on the agreed date. Title work, surveys, etc. are not generally ordered by attorneys until the week of closing as this information must be as current as possible. Old liens and encroachments can show up, even sometimes in error. It still takes time to correct the error.
Most moving companies, particularly at certain times of the month are booked 30 days in advance. It is advisable to schedule your move in advance even if it has to rescheduled at a later date. We suggest you consider scheduling your packing a several days before the closing and schedule the actual move a couple of days before closing unless other terms have been agreed upon.
Often times, sellers will schedule a move according closing to when "family and friends can help". If you feel this is your only alternative, just be aware of the risk.
If you are in a position where you need to make arrangements for an interim move, perhaps a rental, this also often needs to be arranged ahead of time. Again, put yourself at as little risk as possible. It is a good idea to at least touch base with me to make sure I am not aware of any potential problems prior to making such a commitment.
Power of Attorney
All parties, (purchasers and sellers) whose names are on either the mortgage or deed must attend the closing of a property unless prior arrangements have been made to have a Power of Attorney prepared where some other individual will sign for you.
Most mortgage companies will not allow a purchaser to use a Power of Attorney to close a real estate transaction. Generally, this is not a problem for the seller. Please make sure all parties necessary on your side of the transaction will be available for closing. If this is impossible, please notify us immediately.
An attorney will usually charge $50 to $100 to prepare a Power of Attorney. If the buyer or seller is leaving town, the Power of Attorney should be prepared ahead of time. If they are already out of town and will not be returning, time needs to be allowed to prepare the Power of Attorney and to Federal Express it back and forth.
Most mortgage companies will not allow a purchaser to use a Power of Attorney to close a real estate transaction. Generally, this is not a problem for the seller. Please make sure all parties necessary on your side of the transaction will be available for closing. If this is impossible, please notify us immediately.
An attorney will usually charge $50 to $100 to prepare a Power of Attorney. If the buyer or seller is leaving town, the Power of Attorney should be prepared ahead of time. If they are already out of town and will not be returning, time needs to be allowed to prepare the Power of Attorney and to Federal Express it back and forth.
Loan Application
Once a loan application is made, the lender generally immediately mails requests to verify the information given by the purchaser on the loan application. These requests are mailed to employers, banks, creditors, landlords, etc. A credit report is ordered immediately as well as an appraisal on the property.
Once the lender receives the credit report and appraisal, they put the information together with the verifications that have been returned and forward to an underwriter to approve the loan. The loan package cannot be forwarded to the underwriter until all information requested has been returned to the lender.
If all information is returned promptly, a lender can have a loan ready to go to the underwriter in two to three weeks. If, however, an employer, creditor, bank, etc., does not return the verification, the lender will have to send a second and sometimes a third request. We keep in touch with lenders to monitor the progress of loans. If we are aware of a delay, we will notify you immediately.
If the lender receives information they feel needs clarification from a purchaser, they will make the purchaser aware. It is very important that the purchaser give this request immediate attention. If you have any questions please call.
Once the lender receives the credit report and appraisal, they put the information together with the verifications that have been returned and forward to an underwriter to approve the loan. The loan package cannot be forwarded to the underwriter until all information requested has been returned to the lender.
If all information is returned promptly, a lender can have a loan ready to go to the underwriter in two to three weeks. If, however, an employer, creditor, bank, etc., does not return the verification, the lender will have to send a second and sometimes a third request. We keep in touch with lenders to monitor the progress of loans. If we are aware of a delay, we will notify you immediately.
If the lender receives information they feel needs clarification from a purchaser, they will make the purchaser aware. It is very important that the purchaser give this request immediate attention. If you have any questions please call.
The Appraisal
Within a couple of weeks after receiving a contract of sale on your home, you should be contacted regarding the appraisal of your home. This contact may either be made by the agent or the appraiser. The appraiser will need to gain access to your home in order to do the appraisal. Please try to cooperate with the appraiser as a delay in the appraisal can mean a delay in the loan process.
Some appraisers are licensed agents and have lock box keys. Others must meet either the homeowner or agent to gain admittance. Your home should put its best foot forward when the appraiser comes.
Some appraisers are licensed agents and have lock box keys. Others must meet either the homeowner or agent to gain admittance. Your home should put its best foot forward when the appraiser comes.
The Walk-Through
Most contracts give the purchaser the right to walk through the home a day or two before closing for the purpose of determining that the house is in the same condition as when the contract was negotiated or that agreed upon repairs have been completed. The selling agent should call and set up an appointment if the purchaser wishes to walk through. The purchaser should be accompanied by their agent unless prior arrangements have been made.
Often sellers complain that their home is upside-down at this time. Just remember the purchasers are packing to move also. They will understand.
Often sellers complain that their home is upside-down at this time. Just remember the purchasers are packing to move also. They will understand.
Heating and Air Conditioning Letter - Seller
If you are responsible for securing a heating and air conditioning letter for closing, it should be done within ten (10) days before closing. If a particular company has serviced your unit in the past, you may want to call them for your inspection letter.
This letter has to be in the hands of the attorney no later than three days before closing. It must be accompanied by either a bill to be deducted at closing or a paid receipt.
If this letter reveals that repairs are necessary, it must also be accompanied by proof that said repairs have been made, (a statement from the company making repairs) and a bill to be deducted at closing or a paid receipt. All firms making repairs should be licensed contractors.
When you call to order your heating and air inspection, the company may need two or three days to schedule your inspection. Then, if work needs to be done, decisions need to be made regarding repairs prior to the inspection letter being written and forwarded to the attorney. If you have any questions regarding repairs, please call me.
The inspection companies and or repair contractor should deliver the original letters and bills to the closing attorney and email me a copy. You can see that this is important not to leave this to the last minute.
This letter has to be in the hands of the attorney no later than three days before closing. It must be accompanied by either a bill to be deducted at closing or a paid receipt.
If this letter reveals that repairs are necessary, it must also be accompanied by proof that said repairs have been made, (a statement from the company making repairs) and a bill to be deducted at closing or a paid receipt. All firms making repairs should be licensed contractors.
When you call to order your heating and air inspection, the company may need two or three days to schedule your inspection. Then, if work needs to be done, decisions need to be made regarding repairs prior to the inspection letter being written and forwarded to the attorney. If you have any questions regarding repairs, please call me.
The inspection companies and or repair contractor should deliver the original letters and bills to the closing attorney and email me a copy. You can see that this is important not to leave this to the last minute.
Termite Letter - Seller
If you are responsible for securing a termite letter for closing, it must be done within thirty (30) days before closing. If your home is currently under bond, it is generally preferable to call your bonding company.
This letter has to be in the hands of the attorney no later than three days before closing. It must be accompanied by either a bill to be deducted at closing or a paid receipt. All firms making repairs should be licensed contractors.
When you call to order your termite inspection, the company may need two or three days to schedule your inspection. Then, if works needs to be done, time will need to be allowed for repairs. If repairs are necessary to obtain a clear letter, decisions need to be made regarding repairs prior to the inspection letter being written and forwarded to the attorney. If you have any questions regarding repairs, please call me.
The inspection companies and/or repair contractor should deliver the original letters and bills to the closing attorney and email me a copy. You can see that this is important not to leave this to the last minute.
When you receive a contract on your property there are a few added expenses that you need to be aware of in your negotiations for a final contract. These costs will affect your bottom line.
1. If the buyer will be financing their purchase with a VA or FHA backed loan, there are certain fees that the government REQUIRES the seller to pay. These costs could be anywhere from an additional $300 to $500 and may vary. This would be in addition to any closing costs you agree to pay on behalf of the purchaser. There will also be an appraisal done on VA or FHA loans. There may also be some additional required repairs as a result of this inspection. They will require rotting wood to be replaced, window screens to be in good condition, trim to be painted, carpet and vinyl flooring to be in good condition, etc.
2. The majority of real estate transactions will require that he seller provide a "clear" termite and heating and air conditioning report. The average cost of these reports is $100 each. This can vary depending on company. If you have two heat pumps, this charge is per unit. In the event that there are any repairs required, you will be responsible for paying those costs as well. If the termite report shows active termites and you are not under bond with a company, you will need to have the home treated. The cost can be up to around $1,200. If there is rotting wood due to termite or water damage, you will also need to have repairs made by a licensed contractor.
3. Most contracts contain a clause, which gives the purchaser the right to have your property inspected by a qualified home inspector. It is the inspector's job to do an extensive inspection of your home. If there is something "major" discovered like a bad roof, foundation problems, severe termite destruction to the walls and substructure, the purchaser r as the right to back out of the transaction. When there are minor things found like doors that don't close properly, slow drains, etc., the purchaser will most likely ask you make these repairs.
4. If for any reason your home does not appraise for the contract price, the lender will not loan any more than the appraised price. The buyer will then need to come up with the extra funds on their own, or more likely expect you to lower your selling price to meet the appraised price. This doesn't happen very often, but you do need to be aware that it is possible.
Please note your current contract of sale may require the purchaser to be responsible for ordering and paying for both of these letters. Please refer to your contract of sale.
This letter has to be in the hands of the attorney no later than three days before closing. It must be accompanied by either a bill to be deducted at closing or a paid receipt. All firms making repairs should be licensed contractors.
When you call to order your termite inspection, the company may need two or three days to schedule your inspection. Then, if works needs to be done, time will need to be allowed for repairs. If repairs are necessary to obtain a clear letter, decisions need to be made regarding repairs prior to the inspection letter being written and forwarded to the attorney. If you have any questions regarding repairs, please call me.
The inspection companies and/or repair contractor should deliver the original letters and bills to the closing attorney and email me a copy. You can see that this is important not to leave this to the last minute.
When you receive a contract on your property there are a few added expenses that you need to be aware of in your negotiations for a final contract. These costs will affect your bottom line.
1. If the buyer will be financing their purchase with a VA or FHA backed loan, there are certain fees that the government REQUIRES the seller to pay. These costs could be anywhere from an additional $300 to $500 and may vary. This would be in addition to any closing costs you agree to pay on behalf of the purchaser. There will also be an appraisal done on VA or FHA loans. There may also be some additional required repairs as a result of this inspection. They will require rotting wood to be replaced, window screens to be in good condition, trim to be painted, carpet and vinyl flooring to be in good condition, etc.
2. The majority of real estate transactions will require that he seller provide a "clear" termite and heating and air conditioning report. The average cost of these reports is $100 each. This can vary depending on company. If you have two heat pumps, this charge is per unit. In the event that there are any repairs required, you will be responsible for paying those costs as well. If the termite report shows active termites and you are not under bond with a company, you will need to have the home treated. The cost can be up to around $1,200. If there is rotting wood due to termite or water damage, you will also need to have repairs made by a licensed contractor.
3. Most contracts contain a clause, which gives the purchaser the right to have your property inspected by a qualified home inspector. It is the inspector's job to do an extensive inspection of your home. If there is something "major" discovered like a bad roof, foundation problems, severe termite destruction to the walls and substructure, the purchaser r as the right to back out of the transaction. When there are minor things found like doors that don't close properly, slow drains, etc., the purchaser will most likely ask you make these repairs.
4. If for any reason your home does not appraise for the contract price, the lender will not loan any more than the appraised price. The buyer will then need to come up with the extra funds on their own, or more likely expect you to lower your selling price to meet the appraised price. This doesn't happen very often, but you do need to be aware that it is possible.
Please note your current contract of sale may require the purchaser to be responsible for ordering and paying for both of these letters. Please refer to your contract of sale.
