Seller Tips

 

Plan of Action

 

1) Analyze why you are selling your Florida home. If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.

2) Prepare your Florida home for the buyer - Maximize the strengths of your property and fix up it's weaknesses. You want the buyer to walk away from your home with a lasting good impression.

3) Find a good real estate agent that understands your needs - Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.

4) Be prepared for negotiation - Learn and understand your buyer's situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.

5) Negotiate for the best price and the best terms - Learn how to counter offer to get more from every offer.

6) Make sure the contract is complete - Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home's defects. Insist the buyers get a professional inspection. This will protect both you and the buyer.

Considering Offers

 

When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.

 

Some terms that may work in your favor:

higher-than-market-interest in a second mortgage for your home

the buyer will pay for most or all of the closing costs

the buyer will take care of any repairs

quick close - the buyer is pre-approved and ready to close in a time that best suits you.

all-cash deal

 

When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.

 

Insist on a Home Inspection

 

A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property's defects.

A home inspection usually covers the following:

Plumbing conditions - if there is leakage or clogging

Roofing conditions - the extent of deterioration, if there is leakage

Electrical conditions - if there are inadequate circuits or potential fire hazards

Structural problems - if there are problems with the underlying foundation of your home

As a seller, the home inspection reports protect you because it establishes the actual condition of the property at the time of sale.

Setting the Price

 

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your Florida home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA. The CMA will reflect the following:

Florida houses in your price range and sold within the last half-year

asking and selling prices of houses

current inventory of Florida houses on the market

features of each house on the market

From the CMA, you will find out the difference between the asking price and selling price for all Florida homes sold, the condition of the market, and other Florida houses comparable to yours.

Also, try to find out what types of houses are selling and see if it applies to the Florida area. Buyers follow trends, and these trends can help you set your price.

Always be realistic. And understand and set your price to reflect the current market situation.

 

Know Why You are Selling

 

If you know exactly why you are selling, then it is easier for you to set the right plan of action to get what it is that you want.

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won't or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

It's always good to know how low you will go, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.

Once you know what your limits and reasons are, discuss them with your agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so that they can be met.

 

Making a Good First Impression

 

If you want buyers to be interested in your Florida home, you need to show it in its best light. A good first impression can influence a buyer into making an offer; it influences a buyer emotionally and visually. In addition, what the buyer first sees is what they think of when they consider the asking price.

A bad first impression weighs in as deeply. Don't show your property until it's all fixed up. You do not want to give Florida buyers the chance to use the negative first impression they have as means of negotiation.

Ask around for the opinions others have of your home. Real estate agents who see houses everyday can give solid advice on what needs to be done. Consider what architects or landscape designers have to say. What you need are objective opinions, and it's sometimes hard to separate the personal and emotional ties you have for the home from the property itself.

Typically, there are some general fix ups that need to be done both outside and on the inside. As a seller, you should consider the following:

Landscaping - Has the front yard been maintained? Are areas of the house visible to the street in good condition?

Cleaning or Redoing the driveway - Is your driveway cluttered with toys, tools, trash etc.?

Painting - Does both the exterior and the interior look like they have been well taken care of?

Carpeting - Does the carpet have stains? Or does the carpet look old and dirty?

 

Getting the Highest Price in the Shortest Time

 

In order to get the highest price in the shortest time, you need to know how to market your Florida home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.

The most important factor of marketing your Florida home is pricing it right. Your price should be adjusted to reflect the market, and the property's worth. The key is to get many people checking out your property at a fair price instead of having no buyers because your price is set to high.

Another important factor is the condition of your Florida home. Make sure that your home looks ready to be sold. Fix any defects (peeling or faded paint, cracks, stains, etc.) Condition alone can sometimes prompt fast buying decisions. Not only should you fix any defects, but consider upgrading your Florida home by making major repairs and cosmetic improvements before selling. A nice looking home triggers the emotional response that can lead to a financial response.

Learn how to negotiate the best terms for all parties involved. Terms are another factor which may be adjusted to attract buyers. If you insist on getting your asking price, think of what you can offer to the buyers, for example, improvements you've made, or even offering seller financing at a lower than market interest rate on a portion of the sale price. Convince them why they should be paying the price you have set.

Lastly, get the buzz out about your Florida home. List your house with a hot agent that ensures your house is listed on the internet. On your own, get the word out. It should be visible to passerby’s that your Florida house is for sale, whether it be signs, local Florida advertisements or you telling friends, family, and acquaintances.

 

Curb Appeal Checklist

 

• Inspect the outside ground. Remove any building materials, scrap wood, discarded household items, etc. from the property. Store garbage cans in the garage.

• Check the home from the roof line down.

  • Is the roof free and clear from obstructions and moss?

  • Are the gutters clear and neatly hung?

  • Are the windows clean and free from obstructions (such as overgrown bushes or trees)?

  • Are bushes, trees and shrubs neatly pruned?

• Inspect the condition of the paint or siding?

  • Is it time to power wash the siding?

  • Is touch up paint needed?

  • Is the front door in good shape?

• Do flower beds need an upgrade?

  • Are plants neatly pruned?

  • Is the bed free and clear of weeds?

  • Is the bed properly mulched?

  • Are flowers in bloom?

• Keep the lawn neatly groomed.

  • Is the lawn free from weeds?

  • Is the lawn free from grass clippings?

  • Is the lawn neatly edged?