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Tips for Pricing Your
Home
· Consider
comparables. What have other
homes in your neighborhood sold for recently? How do they compare to
yours in
terms of size, upkeep, and amenities?
· Consider
competition. How many other
houses are for sale in your area? Are you competing against new homes?
· Consider
your contingencies. Do you
have special concerns that would affect the price you’ll
receive? For example,
do you want to be able to move in four months?
· Get
an appraisal. For a few hundred
dollars, a qualified appraiser can give you an estimate of your
home’s value.
Be sure to ask for a market-value appraisal. To locate appraisers in
your area,
contact The Appraisal Institute or ask your REALTOR® for some
recommendations.
· Ask
a lender. Since most buyers will
need a mortgage, it’s important that a home’s sale
price be in line with a
lender’s estimate of its value.
· Be
accurate. Studies show that homes
priced more than 3 percent over the correct price take longer to sell.
· Know
what you’ll take. It’s critical
to know what price you’ll accept before beginning a
negotiation with a buyer.
Forms You’ll
Need to Sell Your Home
1. Property Disclosure Form: This form requires you to reveal all known
defects
to your property. Check with your state government to see if there is a
special
form required in your state.
2. Purchasers Access to Premises Agreement: This agreement sets
conditions for
permitting the buyer to enter your home for activities such as
measuring for
draperies before you move.
3. Sales Contract: The agreement between you and the seller on terms
and
conditions of sale. Again, check with your state real estate department
to see
if there is a required form.
4. Sales Contract Contingency Clauses: In addition to the contract, you
may
need to add one or more attachments to the contract to address special
contingencies—such as the buyer’s need to sell a
home before purchasing yours.
5. Pre- and Post-Occupancy Agreements: Unless you’re planning
on moving out and
the buyer moving in on the day of closing, you’ll need an
agreement on the
terms and costs of occupancy once the sale closes.
6. Lead-Based Paint Disclosure Pamphlet: If your home was built before
1978,
you must provide the pamphlet to all sellers. You must also have buyers
sign a
statement indicating they received the pamphlet.
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