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Copyright 2014 NATIONAL ASSOCIATION OF REALTORS®
If you're like most people, you've decided to move out and take all your belongings. This blog isn't about staging - so go ahead, take your things. It's your stuff after all. No, today I'm talking about helping your real estate agent out when it comes to showing your house in the most basic fashion.
There are five things I want you to leave in your house that will help me show it.
1. 9v Batteries. Do you remember when you were shopping for a new home? You walked up to the front door and while your agent was unlocking the door you heard....beeeeep.......beeeep......beeeeep. I like to call that the foreclosure/shortsale alarm. It seems every foreclosure or short sale has a fire alarm or smoke detector that needs a battery changed. But did you know that a battery can go dead at any time in any kind of home? So, please, leave some batteries for me to change so the buyer doesn't have to put up with that annoying beep. And instead they can enjoy the silence of your home - the good windows and doors that block out the sounds of the traffic.
2. Step Stool. And while we're on the subject of changing a battery in your smoke alarm, did you have any idea that you have 10 foot ceilings? Even a home with a standard 8 foot ceiling is pretty tricky. So leave me a chair (shhhhh, don't tell OSHA) or a step stool. You might be surprised what I am willing to stand on to change that battery, but help me out. I don't actually want to kill myself trying to sell your house.
3. Light Bulbs. I'll put your step stool to good use for you again if you'll promise to leave me light bulbs. And please leave a few of each style you use in your home. I haven't yet had a buyer walk into a room with one light fixture with the bulb burned out and say, "Oh, the bulb must be burned out." Oh, no. They always jump to the conclusion that there is a major electrical problem and we're seconds away from the whole house burning down. (Please see item #1 and why it's again so important.)
4. Smelly things. I probably don't need a step stool to change these, but if you're going to have air fresheners, leave a few refills for me. An empty one plugged into the wall is just a reminder of how long your home has been on the market. I know it seems a little silly, but buyers notice.
5. Dusting spray and a rag. I'm not going to give your home a thorough scrub down, but even a home that's been vacant for one week will have some dust. And dust on those granite counter tops is not appealing. A lot of times I show up early to show your home just to make sure everything is as it should be. And if everything is in tip top shape, I just might run the dust cloth over a few surfaces to give it that extra special touch.
Place these items under the sink or in an obvious cabinet in the kitchen - perhaps a pantry if you have one. I don't want to ransack your house looking for that one drawer that you forgot to pack up. It helps me help you. I'm sure you'd rather do this than have me call you and tell you need to change a battery, replace 3 light bulbs and for the love of Pete, dust! It will take me 15 minutes to do all these things for you and it could be the difference between a buyer writing an offer or walking away with a headache.
"Hi! This is Mike Fox, I'd like to take a look at 123 Main Street tomorrow at 2:00."
This is how most of my buyer contracts begin. A simple telephone call, pretty laid back. And once the buyer has settle on a home it's time to write a contract. That's when the name becomes even more important. You see, a contract to purchase a home is a legal document. I know you knew that already. Did you know that your lender needs a copy of the purchase agreement for the underwriting process? Did you know that the name on the name on the purchase agreement needs to match the name on the loan application? If it doesn't, it's not the end of the world, but it does save a lot of time and a lot of unnecessary steps if we can get them to match up on the first try.
It seems that when Mike Fox did his preapproval for his loan - because he was a responsible buyer - he felt that application was pretty important. He knew they'd be delving into his past credit history, so he knew he needed to apply for his loan as Michael Joseph Fox. But when it came time to write the purchase agreement this is how the conversation went.
"Is your full legal name Mike Fox?"
"No, it's Michael Fox."
"Do, you sign using a middle initial or middle name?"
"Oh, well, yes, I usually sign with Michael J Fox."
"And is that how you completed your loan application?"
"Yeah, I think so. No, wait, I think I used my full legal name, Michael Joseph Fox."
We all love Michael J Fox and always will. But when purchasing a home, be sure to give your agent the same name you used when completing the loan application or preapproval so that all documents match and we don't have to do addenda later that reveal all your aliases. And to go one step further, it's helpful to provide your agent with a preapproval letter from your lender when you begin looking at homes. Your agent and lender are going to work hand in hand together once an offer is written, so they might as well get to know each other early on to make the process as smooth as possible for you.
***Disclaimer: I have no idea what the famous Michael J Fox's middle name is, and he's not a client of mine, but I'd probably work with him if he called.
For more information about buying or selling a home visit www.Shellyn.net
To see my current listings visit My Featured Listings
Have you ever tried to sell your home yourself? Often the only thing missing is the power of the MLS or Multiple Listing Service. The MLS is what takes your homes listing information and distributes it to the hundreds of real estate agents selling homes each and every day.
But there's more to it than the MLS. Sure, the MLS makes life much much easier. But it's not all about the MLS. If it were, there would never be a home that didn't sell when it was listed with a real estate agent. The truth is, selling a home takes the MLS, but it also take a special recipe of marketing, communication, and condition. Without all these things working together to sell the home, it will expire - MLS or not.
If you're considering selling your home you must consider several agents - even agents from the same agency. Because while many of us have the same tools available, we may use them differently.
Here's what you get when you list your home with me.
You get the MLS. It's an automatic. But from there, your home is Actively Marketed through the MLS to agents within the local association. And if your home is close to another MLS association, I send the information to the agents of that group too. After all, we don't really care who brings the buyer, right? Just so long as we have a well qualified ready and willing buyer.
I won't give away all my trade secrets here, but you also get listed on over 350 other websites including Realtor.com, Trulia.com, Zillow.com and Craiglist.
I tell everyone in your neighborhood about your home for sale. I try to get a team of people working to find you a buyer.
I keep in contact with you on a weekly basis so you know how many showings you've had and what people thought of the home. We might need to reduce the price or make some repairs to get the home sold. But if we don't know what people are saying, it's hard to know what to do. Buyer feedback is a great tool and I work hard to get it for you.
When we receive an offer, I'm going to negotiate it with you. There's never a simple yes or no to an offer. A lot goes into the decision to accept an offer and I help you weed out all your options so that you can make the right decision for you.
You don't have to feel alone when selling your home. Hire a great agents, such as myself, to get you set off on the right foot and get your home sold quickly.
Call me at 402-239-9668 or visit my webpage at www.shellyn.net for more information.
When the Closer (the person from the Title/Escrow Company that would be notarizing everything) got to the lender's form that essentially said the Buyer had not opened any new credit accounts, we got a little delayed. The closer said with a smile on her face, "You haven't opened any new credit accounts have you? You haven't bought furniture or a new car or anything, right?" And the Buyers smiled back and shook their heads and signed the form.
Then Mrs. Buyer said, "Would a charge account at Target count? It's only $200 and I did it to get the 5% discount." BRAAAAAAAAAKE!!!!! Everything came to a halt. Luckily, the buyers lender did show us just seconds after this admission. But closing couldn't move forward until the matter was figured out. The lender had to determine whether this little $200 credit account would be enough to put their funding in jeopardy. They had to review all their financials and verify balances on other accounts.
We were in jeopardy of loosing this deal. At the last minute this might fall through and we'd have to start all over again with selling the house. Luckily within about 10 or 15 minutes everything was straightened out and that was the only glitch we had during the closing.
If you are buying a home and have an accepted offer - so you're Under Contract - DO NOT OPEN ANOTHER CREDIT ACCOUNT! It does require you to be very good and diligent for 30 to 60 days. But imagine the heartbreak if that $200 was enough to loose financing on the home.
For more information about how to buy a home, check out Eight Steps to Buying a Home
And as always feel free to visit www.Shellyn.net anytime for more great resources.
One of the first things I like to do with buyers is find out what they want. There are varying levels of wants. There's what you actually need (like a kitchen) 3 bedrooms, and 1 bathroom. Those are needs. Do you want a garage? Do you want 1 stall or 2? Do you want it attached or not? Maybe detached is okay, but attached is preferred.
We're going to start our search with absolutely everything you want. All your preferences will be included. Then we'll start discerning "would be nice" from "want" from "need".
Finding a great agent who can help you narrow your focus can go a long way to getting exactly what you want. My goal is to be your great agent.
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A few things you want to think about before sitting down to write the offer are:
1. The price you want to offer. And the highest and best offer you're willing to make. You may get a counter offer and you need to be ready and know how you're going to want to handle it.
2. You can ask the seller to pay a portion of your closing costs. Each loan has different limits and you'll want to ask the lender what your limit is. If you don't have enough cash to close the seller can help you out. Often the amount is 3-6% of purchase price. But be sure to ask your lender what your limit is. You'll also want to know the difference between closing costs and down payment.
3. What inspections do you want to have done? You can have just about anything inspected by a professional. The typical inspections include a Whole House, Furnace & Air Conditioning, Termite or Wood Destroying Pests, and a Radon Test. But if you're questioning the roof or foundation you can have a licensed contractor take a look at those specific things. If the home has a fireplace, you can have that inspected individually as well. All inspections costs money, so be prepared to pay $100 to $500 for each one. Your agent will know what's typically charged for each.
4. Is there anything in the house that you want to include in the sale? It's fairly standard in the Lincoln, Nebraska area to leave the carpet and window coverings. But it's a good idea to write in the stove, refrigerator, microwave oven, etc. Those items are often offered by the seller and listed in the data sheet your agent has access to. But what if there is some beautiful bedroom furniture that you'd love to have as well? It's okay to ask for it. Your agent will know the best way to make that request.
5. Closing date. Do you have a lease that's expiring? Have you sold your home already and need a quick closing? Your closing date is also determined by your type of loan and lender. Each lender has different underwriting processes and timelines. You need to ask your lender how much time they need. You can write in any closing date you want, but being realistic will help keep everyone calm and on track. An unrealistic closing date will only upset the seller and cause more stress for everyone if it doesn't close on time.
Now that you've filled in all the blanks consider how your offer looks to the seller. If you've offered thousands below market value and asked for thousands in closing costs and the washer and drying and lawnmower, you might offend the seller. They have the 3 options. Accept your offer, counter your offer, or decline your offer. The best case scenario is that they accept it. So you want to write an offer that is worth them accepting. The second best option is that they counter your offer. Be prepared for a counter and know what it is you're willing to give and take on. And finally, they can just outright decline your offer. If you're asking for too much, they just might do that. You can always right a new offer, but be prepared for the seller to stand their ground.
My advice for buyers is that the more you ask for in an offer, the more you should be willing to give. If you want the washer and dryer and the lawnmower, you might have to consider giving more than asking price. And if you're requesting a significant amount of assistance with your closing costs, you may have to make a full price or more offer. Just remember, if you're asking for a lot, you're also financing those things for 30 years (or whatever loan term you have). You might be better off bringing your old rickety lawn mower to the new house rather than financing this one for a long period of time.
If you have questions about making an offer, call me any time at 402-239-9668 or visit my website at www.Shellyn.net
