Buying or selling in the Carolinas?

In this day in age we have become a society driven by independence and self-sustainability. From do it yourself projects around the house, to finding ways to make some extra money without having to go through the middleman or spending a load of money. However, sometimes, do it yourself may not be a suitable idea when it comes to bigger things such as selling your own home.

Unlike selling your old tea set on Craigslist, selling a home takes a lot of planning and logistics that an agent/broker is trained to handle for the home seller. So why not sell my own home?

Could not be any harder than selling my own car, right? Many will try to convince you that you can sell your own home, no problem, and that agents/brokers are out to take potential profit away from you. That could not be farther from the truth. What most do not see are many details and procedures that are done to ensure you get the best for your home. 

A real estate agent/broker not only brings ease of mind but they also come with leads, clients, resources to advertise and sell your home quickly and efficiently without the painstaking task of handling that burden yourself. It is not as easy as posting a for sale sign on the front lawn in hopes a passer by will stop and shower you with money to buy your immaculate home. They are the middlemen who handle the difficult task of negotiating with potential home buyers as well as help make sure the home is properly priced to sell. They handle the stresses of the paperwork involved, banks, and inspections. They are trained to present your home to the public in a manner that will intrigue potential buyers into buying your home for less than what many think they take.

In the end, the stress of something so big can be quite overwhelming and an agent/broker is the person to take that huge burden off your shoulders so you can focus on what is important.

Should you decide to FSBO here are a few guidelines to follow:

1. Research all comparable active properties.
2. Prepare comparative market analysis (CMA).
3. Select a price.
4. Complete loan company information including loan number and mailing address.
5. Take pictures of the property.
6. Create marketing strategy, place in a variety of media as in newspapers.
7. Search the Multiple Listing Service (MLS) computer system for a complete look at your overall area such as pictures that are used, homes that have contracts, and what has been sold in the last 6 months. You should monitor this daily.
8. You may have to provide a home warranty to make your home more attractive to the buyer, if that’s the case, you will have to complete and return a home warranty application.
9. Complete the seller’s property disclosure.
10. Research the year the home was built through county records.
11. Check for signatures on all paperwork.
12. Verification all taxes are paid in full.
13. Order a copy of the Homeowners Association Rules.
14. Research the service provided under the Homeowner’s Association fees.
15. Review current appraisal is applicable.
16. Provide marketing data to the buyers.
17. Discuss buyer’s qualifications.
18. Prepare flyers and keep several inside and outside the home
19. Select showing date.
20. Install brochure box.
21. Write an ad for the open house.
22. Place signs in the area
23. Ask guests to sign in for the open house and follow up with thank you cards or a phone call.
24. Accept offers.
25. Pre-qualify all buyers.
26. Work net sheets on all offers
27. Review the offers.
28. Contact lender for buyer’s qualification status.
29. Negotiate offer.
30. Review closing instructions
31. Accept or amend or counter the offer.
32. Ensure both parties have signed all the contracts.
33. Fax a copy of the contract to the title company.
34. Coordinate closing with buyer, lender and title company.
35. Set time appraiser can access property and meet if necessary
36. Provide comparable sales for appraiser.
37. Call lender to review appraisal and conditions.
38. If repairs are required to satisfy lender and buyer, coordinate the times for the repairs when someone is available to be in the home.
39. Follow loan processing through to the underwriter.
40. Order loan payoff statement.
41. Order title insurance commitment.
42. Contact inspector and set appointment.
43. Obtain a copy of the inspection report.
44. Have receipts available for proof of required repairs.
45. Get receipts to title company for closing documents.
46. Make sure earnest money is forwarded to the title company.
47. Receive loan approval and forward a copy to the title company.
48. Schedule a final walk through for the buyer.
49. Request and review all figures from the title company
50. Gather all keys, garage door openers, and any item or code pertinent to the buyer.

Our list only provides a small guideline to all the required tasks for selling your home. It is advisable to speak to a professional and do your homework before taking on such a critical and heavy burden. Make sure all your paperwork is true, accurate and in order. Start file folders and make lists. Stay on top of phone calls and the daily market. One slip could cost you thousands of dollars or worse lose the deal completely. Did you know that most home sellers rely on a Realtor for safety? Never meet someone alone, always in a group setting and in a public place. When you are showing your home have someone with you and have your cell phone handy. Require they show you proof of identity if you feel nervous.

Please know that Erica Homes is here to help should you choose a professional  to sell your home. We have years of experience, knowledge and understand all that is required to satisfy lenders, buyers, appraisers, inspectors, and title companies.