Lori Madden's Blog
Selling a home takes patience. Especially when you’re balancing your time between settling into your new home, and keeping up with your work and family life. So, when you’ve finally gotten to the point of accepting an offer on your home, you’ll probably breathe a sigh of relief--and you should! However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.
Contingencies on the purchase contract
A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.
There are three main contingencies that will likely be included in the purchase contract before closing--inspection, financing, and appraisal.
The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.
Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.
This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they aren’t penalized.
The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.
If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.
Walkthrough and closing
Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasn’t drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.
Now you’re ready to close on your home sale. You’ll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.
While the closing process does include several steps, it’s important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.
If you want to sell your house as quickly as possible, it is important to ensure your residence boasts a dazzling interior. Because if buyers fall in love with your residence as soon as they step inside of it, you may be able to reap the benefits of a quick, profitable house selling experience.
Now, let's take a look at three tips to help you rejuvenate your home's interior.
1. Eliminate Clutter
Clutter is a problem for many home sellers, and it may make it tough for a seller to show off the full beauty of his or her residence to potential buyers.
Dedicate time and resources to remove clutter from your house – you'll be glad you did. If you have excess items, you can always sell these items or donate them to charity. Or, if you have assorted items you want to keep, you can rent a storage unit to keep these items safe until your residence sells.
2. Depersonalize Your Home
Antiques, paintings and various personal belongings have helped your transform a house into a home. Yet these personal belongings may make it difficult for a buyer to picture what life may be like as the owner of your residence.
Oftentimes, it helps to remove personal belongings from your home before you add it to the real estate market. If you make it easy for buyers to imagine what life could be like if they purchase your home, you may be able to help them decide whether your residence is the right choice.
3. Clean Your Home
Buyers likely will shy away from a dirty, messy home. Conversely, a home seller who cleans his or her residence from top to bottom can boost the likelihood that this house will make a positive first impression on prospective buyers.
Home cleaning should be performed regularly. If you need extra help with home cleaning, you can always hire a professional home cleaning company as well.
As you get set to add your residence to the local housing market, you may want to hire a real estate agent too. A real estate agent can offer recommendations and suggestions about how to improve your residence's interior. Furthermore, he or she will do whatever it takes to help you optimize your home sale earnings.
Let's not forget about the guidance that a real estate agent can provide at each stage of the home selling journey, either. A real estate agent will showcase your residence to prospective buyers, help you analyze offers to purchase your house and much more. And if you ever have home selling concerns or queries, a real estate agent is prepared to respond to them at a moment's notice.
Ready to revitalize your home's interior and enjoy a successful property selling experience? Use the aforementioned tips, and you can improve your house's interior and take a step to distinguish your home from comparable residences in your city or town.
The good news: a homebuyer has made an offer on your house and is ready to purchase it as quickly as possible. On the other hand, there's the bad news: this homebuyer has many requests that need to be fulfilled to finalize a home sale.
Unfortunately, a stubborn homebuyer can put a home sale in jeopardy. But a home seller who understands how to deal with a stubborn homebuyer effectively may be able to boost his or her chances of a seamless property sale.
Now, let's take a look at three steps that every home seller can use to deal with a stubborn homebuyer:
1. Focus on the End Results
For most home sellers, the end goal of selling a home is getting the best price for your residence, regardless of the current real estate market's conditions. As such, if you remain focused on your ultimate goals, you may be better equipped than others to deal with a stubborn homebuyer.
If a stubborn homebuyer submits a variety of requests, allocate the necessary time and resources to consider each request closely. Then, if you find the requests are overwhelming, you can always submit counter-proposals.
Lastly, don't forget that you can always walk away from a home selling negotiation that appears to be going nowhere. And remember, if a negotiation with a stubborn homebuyer goes south, you can relist your residence and restart the home selling journey.
2. Consider the Homebuyer's Perspective
Why is a homebuyer acting stubborn? Open the lines of communication with a homebuyer, and you may be able to find out the root of a property buyer's stubbornness and proceed accordingly.
A homebuyer may have concerns or questions about buying your residence. Fortunately, if you maintain open lines of communication with a homebuyer, you can address these concerns and questions without delay.
Also, be aware of the homebuyer's perspective as you proceed along a property selling negotiation. Although a homebuyer may make requests along the way, it is important for you and a property buyer to find common ground. If you feel uncomfortable with a homebuyer's requests, you should be unafraid to walk away from a home selling negotiation altogether.
3. Ask a Real Estate Agent for Extra Help
If you're unsure about how to approach a stubborn homebuyer, there is no need to worry. Conversely, meet with an expert real estate agent, and you can find out how to move one step closer to getting the best price for your residence.
An expert real estate agent will be happy to provide honest, unbiased recommendations about how to collaborate with a stubborn property buyer. Next, you and a stubborn homebuyer can work together to complete a home sale.
Plus, an expert real estate agent may act as a liaison between a property seller and buyer. This housing market professional can learn about both sides and what they are looking for in a home sale and take the necessary steps to deliver the ideal results for all parties involved.
Take the guesswork out of dealing with a stubborn homebuyer – use these tips, and you can boost your chances of navigating a successful home selling journey.
Any pet owner will tell you that their pets are a part of the family. They bring joy to new families getting their first dog, and companionship to people who would otherwise live alone. However, they also bring the pet odors associated with having them around the house.
Since we spend so much time in our own homes, we oftentimes don’t even notice pet odors. So, even if you think your home is free of odors, it’s a good idea to get an unbiased opinion of the various odors of your home so that you can address them if necessary.
In this article, we’re going to teach you how to identify and neutralize those pet odors before the open house or first home showing. That way you can make the best impression on potential sellers and leave them feeling like your home has been well-maintained.
Identifying pet odors in your home
Whether you’ve got a dog, cat, rabbit, or hamster, odds are your little friend puts off some amount of odor. To discover where, if any, odors can be found, invite a friend over to your home who isn’t familiar with the smells and ask them their honest opinions about the various rooms in your home. This will give you a good idea of where you need to focus your efforts.
Important areas to clean
First thing’s first: the fabrics, surfaces, furniture, and carpet in your home in your home hold onto odor the most. Renting or buying a carpet cleaner, mopping the hard surfaces, and washing or refreshing curtains is a great place to start.
Many steam cleaners can be used on various surfaces, making them a good solution to get the most value out of your cleaning budget.
Don’t forget the carpet pad
If your pets have ever had “accidents” on your carpets, it’s vital to remember that their mess likely soaked through the carpet onto the carpet pad. While it may seem like a lot of effort to pull up the carpet just to clean the pad, it may be your only option in severe cases of pet odors.
Repainting is a guaranteed way to remove any lingering odors in your home. Try to time your painting so that the room has the chance to air out and the smell of fresh paint isn’t overpowering.
Repainting is also the perfect opportunity to brighten up the rooms of your home, making them feel more spacious. Sticking to neutral, proven colors will give you the most bang for your buck.
Let some fresh air in
Before showing your home, open up the doors and windows and doors to closets and basements and let a draft run through the house. This can eliminate any musty smells that have accumulated in the lesser used parts of your home, as well as help mitigate the effect of pet odor.
Last minute additions
The day of showing your home, use a high-quality scented candle or two in places that your pets frequent. You don’t want it to be obvious that you’re trying to mask any bad odors, so don’t use anything overpowering. Rather, opt for a pleasant-to-neutral fragrance that isn’t too noticeable.
Do you know how to get your house ready for the real estate market? If not, you may miss out on opportunities to showcase your home to the right buyers. Perhaps even worse, you may struggle to maximize your home sale earnings.
When it comes to selling your house, it usually helps to plan ahead. Fortunately, we're here to help you do just that.
Now, let's take a look at three tips to help you get your house ready to sell.
1. Clean As Much As Possible
Let's face it – a messy kitchen, bathroom or bedroom is an eyesore. And if you fail to clean your house prior to listing it, you risk alienating buyers time and time again.
Cleaning is a necessity for home sellers, regardless of a house's age or condition. If you allocate time and resources to ensure each room in your home looks pristine, you can increase the likelihood that your residence will make a positive first impression on buyers.
Mopping the floors, wiping down walls and taking a room-by-room approach to home cleaning generally is recommended. In addition, if you need extra assistance, you can always hire a professional home cleaning company.
2. Perform Home Exterior Maintenance
Although you may spend a lot of time cleaning your house's interior, you shouldn't forget about your home's exterior as well.
Ultimately, how your home's exterior looks may dictate how quickly your residence sells. If your house boasts a beautiful front lawn and immaculate exterior, a buyer may fall in love with your home instantly. Conversely, if your home's front lawn is uncut and your house's siding is damaged, your residence is unlikely to impress potential buyers.
When it comes to home exterior maintenance, it helps to do as much as you can. Trim the front lawn, repair damaged home siding and perform assorted home exterior maintenance. By doing so, you can immediately bolster your house's curb appeal.
3. Remove Clutter
Over the years, you may have collected a lot of items. But these items may make your house appear smaller than it actually is – something that all home sellers should try to avoid.
If you have a large collection of clutter, you may want to consider selling or donating various items. Or, you can always rent a storage unit for assorted belongings and move these items to your new residence after your current house sells.
Clearly, there are many ways to prepare your house for the real estate market. If you want to ensure the best-possible results from the home selling journey, you may want to reach out to a real estate agent too. This housing market professional can guide you along the home selling journey and ensure you can get the support you need to achieve your desired goals.
Start getting your house ready to sell – use the aforementioned tips, and you can quickly and effortlessly enhance your residence before you list it.