Selling A Home

DECIDING TO SELL

So you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations for moving and draw up a basic time frame for your unique situation.

Why Sell?

Ask yourself why you want to sell your property.

Do you intend to find a larger property? Are you looking to downsize or secure main level living? Do you plan on moving to another neighborhood, school district, city, or state? Knowing the motivation for selling can help you and your agent establish a timeline for your home sale (and home purchase).

What Is The Market Like?

When you work with a Fazendin Realtor®, you can be sure that you will be provided the service you deserve and the knowledge you need throughout your home selling journey. We will keep you up-to-date on what is happening in the local Twin Cities market as well as the pricing, conditions, and happenings of competing properties in your immediate area.

SELECT AN AGENT AND DETERMINE PRICE

Why Should You Choose Our Professionals?

You may opt to sell your property independently. There are many excellent reasons, however, why you should choose us to assist you in this important undertaking.

Fazendin’s goal is to maximize your profit while minimizing your pain of well, selling a home. The process can be fun, but for many, it is a nerve-racking and stressful process. But rest assured, selling your home with a well-trained, industry professional by your side makes the process as straight-forward and easy as possible.

Find Your Agent.

The very first step is to find an agent that can sell your property and work with your individual needs. Start by researching and interviewing a couple of potential brokers and/or agents. What makes the broker unique and why should they sell your home? Are they knowledgeable about your home’s location and the neighborhood? Do they have the character and professionalism you desire in an agent?

Your Fazendin Realtor® will coach you through the process – from offering staging tips and tricks, providing professional photography and award-winning marketing, guiding you through all received offers, and negotiating on your behalf, all the way to the closing table – your agent will be there every step of the way. And, if we have done our job correctly, you – the seller – will be happy on closing day!

What Is Your Property Worth?

Your Fazendin agent will provide you an in-depth property analysis specific to your unique home, neighborhood, and current market conditions. This analysis will include an estimated market value of your property with comparable sales data to support their recommendation.

PREPARE TO SELL

You can do a lot to increase the appeal of your property and to create a lasting impact on potential buyers.

How To Prepare:

The following are a couple of factors to keep in mind when listing your property for sale:

1. Curb Appeal.
   Keeping your home’s exterior looking sharp, regardless of the season; power wash your home’s siding, mow the lawn, plant flowers and regularly remove weeds, shovel snow, rake leaves, etc. Such exterior maintenance items, whether done or left undone, will have an immediate impact on passers-by and potential buyers.

2. Assess the State of your Property
   Your agent will walk through the property before it is listed for sale and recommend what you can do to best showcase your property to potential buyers.

   Simple upgrades such as window repairs, polishing the doorknobs, and a fresh coat of paint in the most
   frequently used rooms will instantly brighten up the property.

   Keep your property uncluttered, sweet-smelling and well-lit from top-to-bottom. Pay attention to details: put away the kitty litter, place a vase of fresh flowers near the entryway, have your carpets cleaned.

3. Share Updates.
   In the marketing of your property, your Fazendin Realtor® will provide buyers a written description of your property, as well as a home highlights and neighborhood highlights page. Be sure to tell your agent any home improvements or repairs you have done to the property in your time as owner. Share with your agent why you bought the property and your favorite parts of the home.

Go to Market

Once your home is looking it’s best, your agent will set up a time for a professional photographer to come and photograph your home’s interior and exterior. Photos are worth a thousand words and play a major role in attracting potential buyers to your property.

Finally, it is important to review any pertinent details about your home, complete relevant contracts, and discuss any special showing accommodations you might have with your agent and broker before your home is publicly listed for sale.

ACCEPTING AN OFFER

Your agent will help you sort through any offers you receive and point out relevant details. They’ll help you decide which offer is best and negotiate terms that work for you. An agent will also talk to the buyer’s lender, if relevant, to avoid any surprises later on in the transaction.

The Price Is Not Always Right.

“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust our professionals to help you thoroughly evaluate every proposal without compromising your marketing position.

Negotiating The Right Way.

We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – and as your agents, we will guarantee a thorough and objective assessment of each offer to help you make the right choice.

NEXT STEPS

Now that an offer has been accepted, there are a myriad of dates and deadlines to navigate. Your agent will help you keep track of what’s supposed to happen next and what that means for you and your property. He or she will help negotiate the buyer’s inspection, procure title insurance, and ensure the buyer’s financing is on track by watching the deadlines for the appraisal, underwriting and loan approval. For every deadline, your agent will be by your side advising and drafting any necessary paperwork to move the deal in the right direction.

Inspection and Appraisal.

Buyers commonly have the property inspected by a licensed property inspector within the time frame that was agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property, if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate.

Contingencies.

A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.

Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:

• Obtaining financing and insurance;
• Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
• Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.

Depending on the outcome of these inspections, one of two things may happen:

1. Each milestone is found satisfactory and the contingencies are removed, bringing you one step closer to the closing

or

2. The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract

How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? This is when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, we are committed to providing our expertise to every client, no matter their particular situation.

SOLD!

Final Walk-Through Inspection.

The final inspection takes place the day before, or the day of the closing. The buyer visits the property to verify that all is in working order, everything is the same as when the buyer last viewed the property, and that there are no extra items left behind.

Closing Day

You’re at the closing table and reviewing all the final documentation. Your closer will transfer the title, create the lender’s lien (the mortgage) and transfer the final funds into your account.

Congratulations!

Your Real Estate Resource – Always

Have any home related questions – such as finding a moving company, relocation assistance to another area, or supplying vendor names for home repairs or renovations? Ask your agent!

Your Fazendin Realtor® doesn’t leave you after the closing table. Your agent is your go to real estate resource today, tomorrow, and always.