Seller’s FAQs

 

How much is my house worth?

Your realtor can provide you with a list of comparable properties that have recently sold or are currently on the market.  I generally look at the average price per square foot for recently sold properties that have similar specifications.  Using that figure, I’ll add on a dollar amount for upgrades (such as an extra bath) or subtract a dollar amount for necessary repairs (such as a new roof).  That will help you determine the fair market value of your house.  Feel free to contact us for a free CMA (Comparative Market Analysis) for your home. 

 

Should I try to sell my home by myself?

There’s really only one argument for trying to sell your home by yourself…to save on realtor’s fees.  The truth of the matter is that, if you have a buyer lined up to pay fair market value for your house, you may be able to save several thousand dollars in realtor’s fees.  However, most folks don’t have the luxury of having a buyer ready to purchase at fair market value…and that’s where the benefit of a good realtor comes in.  A good realtor will provide professional experience and be able market the house to maximize exposure.  Statistics simply don’t lie, and the statistics show agent-assisted sales result in more money in less time without the time, hassle, and worry of selling on your own. 

 

How much does it cost to use a realtor to sell my house?

For Keller-Williams agents in our area, it’s generally accepted that the realtor’s fees will be 6% of the sale price…3% going to the seller’s agent and 3% going to the buyer’s agent. 
 

What can I do to get the most money for my house? 

Nice kitchens and baths sell houses, but those will be are expensive and time consuming remodel projects for the typical home owner looking to sell.  Bang for your buck, paint is probably the place that I’d suggest spending money.  A couple of hundred dollars and a fresh coat of paint will go a long way when presenting your home.  Some other inexpensive things your can do to help present your home are to make sure the landscaping is maintained for curb appeal, minimize the amount of clutter in the house, and depersonalize to the extent that is reasonable…you may be proud of that 10 point buck you shot last year, but that potential buyer may be an animal rights activist.  One other consideration is that buyers fall in love with houses online in today’s day and age.  You want to make sure that your realtor is producing professional-quality images for online listings.

 

I accepted the offer…now what?

First and foremost, it’s likely that the buyer is going to have a home inspection in the next few days.  If there are known maintenance issues that you can address before the inspection, it would serve you well to be proactive about addressing them.  While you should have an opportunity to make repairs after the inspection, a long list of items that need to be fixed may be enough to make your buyer skittish enough to start looking for a reason to walk away from the deal.  Otherwise, you should start preparing to move but with the understanding there are no sure things.  Between the inspection, the appraisal, underwriting, and various other items related to financing…until you walk away from closing, there’s always a possibility that this deal may not go through.  I always say to expect the unexpected.

 

How much money can I expect to walk away with at closing?

You can contact your mortgage company for a current payoff of your loan.  Your proceeds will be the sale price minus your payoff and other expenses.  The other expenses that you should expect to figure in are your realtor’s fees of 6% of the sale price, any closing costs that you agreed to pay for the buyer as part of the purchase agreement, title company fees, title insurance, and property taxes (remember, you’re a year behind on your taxes and must pay them thru the day of closing).  If you escrow your taxes and insurance with your mortgage company, there’s also a good chance that you’ll get a credit from them.  Your realtor should be able to help you calculate expenses and give you a good estimate of your proceeds. 

Office

Keller Williams

765-807-7173

3928 McCarty Lane, Suite A, Lafayette, IN 47905