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SELLER'S FAQ
Q. Should I price my home a little high? I can always drop the price later.
We recommend against pricing your home too high, because this strategy is more likely to result in a lower price. A for-sale home has the most activity during the first few weeks it is on the market. If a home is overpriced, it has to compete with homes at that higher price level and is not as likely to attract an offer. Plus, if you drop the price later, potential buyers will know and may factor this into their offers.
Q. How should I prepare my home for sale?
Your John Daugherty, Realtors sales associate will review everything you need to know with you in great detail. Areas to address include curb appeal (Is the lawn cut? Does the paint need touching up?); general maintenance (Are repairs or painting needed?); and creating a clean, spacious look (Is the home spotless? Is there excess furniture or other items that can be stored elsewhere?).
Q. Am I responsible for fixing any problems that come up in the home inspection?
The purpose of a home inspection is to expose major problems. Usually only minor problems are noted. The older the home, the more minor problems there are likely to be. If the inspection exposes a major problem, the home seller and buyer must work together to come up with a solution. Options include addressing the needed repairs yourself, deducting the price of the repairs from the bid or splitting the cost of the repairs with the buyer. Your John Daugherty, Realtors sales associate will assist you in finding a solution that is acceptable to all parties involved.
Q. What costs am I responsible for paying?
The seller can generally be expected to pay for: real estate commission; document preparation fee for deed; documentary transfer tax; any city transfer/conveyance tax (according to contract); payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer); interest accrued to old lender; statement fees, reconveyance fees and any prepayment penalties; termite inspection (according to contract); termite work (according to contract); home warranty (according to contract); any judgments, tax liens, etc. against seller; recording charges to clear all documents of record against seller; tax proration for any property taxes owned at time of transfer; any unpaid homeowner’s dues; any and all delinquent taxes; notary fees; and any bonds or assessments (according to contract).
Q. Why shouldn’t I just sell my home myself?
Many aspects of the selling process are impractical for a homeowner. You would need to be prepared to market and show your home, which would mean taking calls at all hours and sacrificing your free time for showings. Plus, your John Daugherty, Realtors sales associate will pre-qualify prospective buyers - most people are not comfortable asking strangers how much money they make and how their credit is. Our experienced sales associates are not only highly trained in every step of selling a home, they also have the negotiation skills to make sure you get the highest possible price.
