Question Details

Sue, Home Buyer in USA, Mobile, AL

What do we do if we are thinking of selling?

Asked by Sue, USA, Mobile, AL Thu Apr 17, 2008

Help the community by answering this question:


If you're thinking of selling, Joseph's advice is excellent.

I'd just add: In today's market, in many/most location, you probably shouldn't sell unless you have a compelling need. (To my fellow Realtors: Yes, I know all markets are local, and some are doing quite well. And, yes, I'm aware that this may sound like a "doom and gloom, the sky is falling" response. It's not.)

I'm just suggesting that you really determine your own motivations and needs. And unless, on a scale of 1 to 10, they're at least an 8, and more often a 9 or higher, you really ought to scrutinize your initial impulse before deciding to sell.

Good luck.
0 votes Thank Flag Link Thu Apr 17, 2008
Don Tepper, Real Estate Pro in Burke, VA
Power washing your house is a good inexpensive start. Talk to your neighbors and casually bring up your thoughts. Eventually you will stumble upon a solid referral of a reliable R.E. agent. I think you asking ?'s here is a good start too. Go do some more research and find out how much things are selling for. Trulia provides many of the tools you will need. Good Luck. I'm going to park it here to get updates.
0 votes Thank Flag Link Thu Apr 17, 2008
It is a pretty broad question but, first things first; interview and hire a selling agent to market and sell your home. Now you do not have to hire an agent as I am sure you will here. I just suggest it if you are not well versed in the world of real estate. Check with the agents to see what their specific marketing plan for selling your home is, also confirm with them the method and frequency of the communication you would like to have from them, and of course carefully go over and make sure you totally understand the listing agreement should you choose to list your home with an agent.

This is just a very basic overview there are other items to consider such as offering a home warranty and maybe consider even going ahead and getting a home inspection to see if there are any issues ahead of time. So good luck whatever you decide.

Larry Story
Coldwell Banker Triad
0 votes Thank Flag Link Thu Apr 17, 2008
Hi Sue: I'm a Realtor in CA where as everyone knows, we are 1 of the 3 states that have been "hit" the hardest in regards to declining values (Florida & Nevada being the other 2). Your first task is to determine the true market value of your home & this is accomplished by asking your Realtor to provide you with an accurate CMA (Comparative Market Analysis). Depending on where you live, be prepared for somewhat of a "shock" as to what that value may be. Secondly: secure a "Seller's Proceed Sheet" from your Realtor in order to determine what your final proceeds will be and that there is enough money to payoff all existing liens and closing costs associated with your transaction. There are quite a few other steps to take in order to prepare your home for sale, i.e. aesthetic improvements, estimated time on market and the willingness to except the fact that in most areas, it is a Buyer's market. I will be more than happy to guide and answer your question in detail. You can reach me at my office via my website below. It doesn't matter where you live because the fundamentals are the same. I hold various real estate designations and am also a Senior Mortgage Planner so that's another facet you should be prepared to understand when placing your home on the market. Many Realtors are not well versed in the lending process and it's become quite different today with all of the government programs that have re-emerged... It is still possible for a Buyer to secure a 97% LTV (Loan to Value) financing with non-profit programs who will provide the difference through "gift funds" that do not require repayment. Hopefully, my website will display below in the "references" section but if not, here it is: Good luck and do not hesitate to "pick" my brain.. Joseph Ginel
0 votes Thank Flag Link Thu Apr 17, 2008
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