The Charleston Area Home Seller’s Guide
Handsome Properties March 29, 2016
Handsome Properties March 29, 2016
There are many reasons why one may decide to sell his or her home. There could be a professional relocation on the horizon, a need to upsize with a new family member on the way, or maybe a desire to explore the world. Whatever the reason, it is important to stay informed as a home seller to avoid as many hiccups during the process as possible. Hopefully, by keeping these pointers in mind, selling your home will be worry-free.
One of the biggest mistakes many sellers make is trying to sell their home unrepresented. While it can be done, studies have shown that real estate agents on average are able to procure a higher sale price than the unrepresented seller. There are many items that sellers don’t take into consideration when they decide whether or not to hire an agent, like the lengthy time commitment, for example.
Real estate agents are paid a commission to oversee the process from signing the listing agreement to the closing, and it’s important to understand how much really goes on in between. Once you decide to use a real estate agent, choosing the right one is your next obstacle. Take a look at this article to read about some of the items you should consider before committing to a agent/agency.
Before putting their homes on the market, many people often consider what they can do to best showcase the space. This can mean anything from putting a fresh coat of paint on the front door to a total kitchen renovation, if you expect the benefits (i.e. a higher home sale price) will outweigh the cost.
Many sellers will also professionally stage a home, typically with the help of a decorator or real estate agent, to help represent the space in the best possible way. Seasoned real estate agents are often the best resource when it comes to staging property. If they don’t have suggestions themselves of what can be done, they can surely find a professional to do it for you.
While part of your real estate agent’s job will be to do the necessary research and suggest a list price, it’s a good idea to be involved in the process. The customary formula used when deciding on a list price would be to compare your home with those in your neighborhood that are either actively on the market or have sold recently.
After you’ve had the chance to compare your home’s features with others that are similar (i.e. similar number of bedrooms, bathrooms, square footage, updates, etc.) coming up with a list price should be the next step. While a real estate agent is motivated to present a high, but reasonable, list price, they will also need to know what your timeframe is in order to best suggest a price that will suit your needs.
In South Carolina (and most of the country) disclosing any major defects to the home is something every seller must make sure they do at the time of signing a listing agreement. Items that affect the value, livability or desirability of the property are considered disclose-worthy, so if in doubt, disclose.
While it is unnecessary to hire an inspector, it is important to disclose what you know. Your real estate agent will provide a seller’s disclosure form for you to fill out and will make sure potential buyers receive a copy.
After the offer is accepted and paperwork is signed, there are a few more boxes to tick off before breathing a sigh of relief. First of all, if the signed contract had any contingencies, you’ll want to see that those are buttoned up before considering it a done deal. More often than not, a buyer will make an offer contingent upon at least a home inspection.
If the inspection comes back with any serious problems, the buyer will likely want to renegotiate the purchase price or ask you to pay for some repairs. Once all contingencies have been removed and a closing date has been set, the final transfer of the property is set to take place.
Handsome Properties is happy to represent the sale of your Charleston-area home. For more details on any of these points or to schedule an appointment with any of our agents, please give us a call at (843) 727-6460.
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