What if I need to sell my home before I buy a new one?
To put yourself in the best negotiating position before you find the new home you want, hire a qualified real estate agent to help you put your home on the market. Once you write an offer on a new home, your offer will be “contingent” on the sale of your home. A buyer in this position may not have the same negotiating power as one whose home has already sold (or at least has an accepted offer). The seller may be hesitant to accept your offer because there are too many things that must happen before the sale can close. A bridge loan may be an option for you. For more information on bridge loans, click here to see Michelle’s bridge loan information page.
When is the best time to sell my home?
This frequently asked question cannot be answered with a simple or general answer. Every real estate market is different, therefore, the best time to sell a home will be different from real estate community to real estate community. In most cases, the spring months are the best time to be selling a home. However, our economic climate and interest rates also have an impact on buyers who are actively looking to purchase a home.
How is the real estate market right now?
A frequently asked question from home sellers before listing their home for sale is related to the local real estate market. There are many market indicators that a Realtor should be able to share with you to help explain the condition of the local real estate market. One of the most important indicators on market conditions is average days on the market. Other examples of market condition indicators include market absorption rates, number of closed transactions year-over-year for a given month, average sale prices, and average list price to sale price ratios.
What steps should I take to prepare my home for sale?
The expression “You never get a second chance to make a first impression” is absolutely true when it comes to selling a home. When selling a home you must be sure that your home presents itself in the best possible light. Making sure clutter is at a minimum, freshly painting rooms, installing new carpeting, or ensuring odors are non-existent are just a handful of things that should be done before listing your home for sale.
What should I disclose to potential buyers?
When selling a home, it’s important you disclose to potential buyers anything you are aware of in your home. If you’re aware of defects with a roof, appliance, or the home in general, you’re always going to be better off being honest and upfront. If you’re aware of defects, whenever possible, fixing them before going on the market is best. This can avoid potential issues and/or lawsuits once your home is under contract, after inspections, and even years after you have sold your home.
Why is my assessed value different than what you say my home is worth?
The assessed value of a home is used for the purpose of taxes in your local municipality. The assessed value of a home is multiplied by the local tax rate to determine what your yearly taxes are. The assessed value has no impact on how much your home is worth to a potential buyer in the marketplace.
What are closing costs?
Closing costs are an accumulation of charges paid to different entities associated with the buying and selling of real estate. For sellers, they are usually about 9-10% of the total sales price of a property. Some of the closing costs you might encounter are: discount points, escrow fee, documentation fee, homeowners’ association fees, pest/rot inspection, real estate commission and title insurance premium.
What is title insurance?
Title insurance protects the named insured against loss because of defects, liens, encumbrances, adverse claims or other matters not shown or disclosed to the new owner that attach before date of policy.
What is the difference between a Realtor and Real Estate Agent?
In Washington state, real estate professionals are referred to as brokers. A Managing Broker is someone who can manage other real estate brokers in an office or as part of a team.
A Realtor identifies real estate professionals who are members of the National Association of Realtors and subscribe to its strict Code of Ethics. Not every real estate agent is a Realtor.