Continuing their discussion on selling your home, Daniel and Julie’s most recent appearance on Twin Cities Live was to share their advice on how to maximize the profit you get from selling your home. Small things like the temperature during a showing and the way your home comes across during an inspection can make or break a deal.
You want your home to look perfect (clean, blinds open, temperature between 70-72, home smelling good, lights on and music on if possible)
You need to leave the home for showings
This is your first date with buyers so you want to put your best foot forward
Should get your most amount of showings within the first week on the market
Hopefully within a month or so you get an offer. If you don’t depending on the price range you may be priced too high and should perform a price drop. Once you get an offer there is usually negotiation back and forth between the buyers and seller on price and terms. You want to make sure you are working with a good experienced realtor as you want a strong negotiator working for you.
Once you come to an agreement on the offer is it still contingent upon the buyers performing an inspection.
Types of Inspection:
General home inspection
Sewer line scope
Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.
Once you have cleared all inspection issues, if the buyers is obtaining financing to purchase the home their lender will order an appraisal. This is a 3rd party that goes out to the house and assesses the value of it to make sure the sale price is reasonable. Appraisal can take a couple of weeks to get back.
A lot of times once the offer is accepted sellers think they can go back to living in their home as normal. This is not the case, you want to make sure you keep your home clean and in showing condition for the inspection and the appraisal. The buyers will most likely be at the inspection which can take around 3 to 4 hours so they will be spending more time in the house than they did at their original showing so you still want the home to show at its best so they stay in love with it.
It’s like dating even though your now in a committed relationship you don’t want to let your self go, you want them to stay in love with you and similarity the appraisal is like meeting the parents you want to impress them so they approve.
Most purchases close within 30 to 60 days after acceptance of the PA. Financing right now is taking about 45 days to complete. After appraisal has cleared you working on packing and wait for closing. Call utility companies to schedule transfers out of your name.
Buyers will do a walkthrough of the property either right before or the day before closing. In most instances when you go to closing you are turning over possession of the home to the buyers and cannot go back. You want to make sure home is cleaned well (inside of cabinets, appliances etc.) paint touch ups are performed and all personal property is out of the house. If the home is not in the same condition as when the buyers looked at it, it can blow the deal or cause issues at closing.
Closing is usually performed at a title company and paperwork is signed and keys are turned over to buyer.