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Ventura,
CA Real Estate
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interested in complete with photographs of the properties and detailed neighborhood information. Thinking
about selling your home? We have a proven track record selling real estate throughout . We listen carefully to
understand your goals and guide you through the entire process of selling your property from listing to sale. Click
here for a free, Online Market Analysis . List Your Home With The Number One Real Estate Company
in Ventura California For More Details Call Craig (805)856-9329 SELLING YOUR HOME!
If you've decided to sell your home, chances are you're caught
up in a host of emotions. You may be looking forward to moving up to a new dream house or facing the uncertainty of a major
move across country. You may be reluctant to leave your memories behind or eager to start new adventures. Whatever turbulent
feelings you're experiencing right now, there are plenty of practical matters that need your attention. Keep in mind the following
considerations to help the whole process go more smoothly.
Time Becomes Money
It's a good idea to place
your home on the market as far in advance as possible of purchasing a new one. If you find a new home first and then try to
sell your present home, you may wind up with two mortgages. If this does happen, ask your real estate agent or banker about
a bridge loan to help you make the double payments. Lenders use the same criteria for offering bridge loans as they use for
mortgages. Should you qualify for a bridge loan, beware of the expense; during the term of the loan you must continue to pay
both mortgages. Shop around for the best terms.
Keep in mind that when people move, sell and buy, there usually
is a domino effect. Closing and moving dates have to be coordinated, and the more firmly everyone commits to a window of dates
and sticks to them, the better for all involved. Put all agreements about dates in writing, and protect yourself by negotiating
financial penalties for failure to comply.
Check Your Curb Appeal
A home that's visually appealing and
in good condition will attract potential buyers driving down the street. Use this checklist to view your property through
an outsider's eyes.
Are the lawn and shrubs well maintained?
Are there cracks in the foundation or walkways?
Does the driveway need resurfacing?
Are the gutters, chimney and walls in good condition?
Do the window
casings, shutters, siding or doors need painting?
Are garbage and debris stored out of sight?
Are lawn mowers
and hoses preperly stored?
Is the garage door closed?
On the Inside
Strong curb appeal will lure potential
buyers inside, where you have to live up to their expectations. Fortunately, there are plenty of easy improvements you can
make to your home's interior without spending a lot of money. Cleaning is No. 1. Your windows, floors and bathroom tiles should
sparkle. Make sure you have clean heating and air conditioning filters. Shampoo dirty carpets, clean tubs and showers, repair
dripping faucets and oil squeaky doors. Keep your home neat, clean and picked-up at all times. It may not seem fair, but a
peek in the oven may be the hallmark by which a buyer judges how well you have kept up your home.
Remove unnecessary
clutter from the garage, basement, attic, closets and straighten stored items. Also remove any items that might make a statement
that would be offensive to others who may not share your same views, beliefs or sense of humor. If your home is crowded with
too much furniture, consider putting some things into storage. If a room needs a fresh coat of paint, use a neutral off-white.
Think, too, about how your home smells. You may be used to the smell of a pet or cigarettes, but such odors can be a strong
turn-off to others. Be certain to remove valuables such as jewelry and other items from view. It might be wise to put these
items in a safe deposit box before showing your home. Finally, set a mood for the buyer. Make your house homey with live flowers
and fresh guest towels in the bathroom. Place scented potpourri around the house or, on the day you're expecting a potential
buyer, pop a batch of frozen cinnamon rolls into the oven for a welcoming aroma.
Remember, cosmetic changes do
not have to be expensive. In fact, costly home improvements do not necessarily offer a good return on your investment when
you sell. It's attention to the basics—anything that says “this home has been carefully maintained”—that
will help you get the price you want.
Go It Alone
Some homeowners decide to sell their homes themselves
in order to save the commission charged by a real estate agent. The commission rate may vary, depending on where you live
or what agency you choose, but it is generally upwards of 5%. However, handling your own sale means you will be responsible
for placing ads, answering phones and showing your home to strangers. What's more, buyers who know you are saving on an agent's
commission may offer less for your home, wiping out the financial incentive to do it all yourself.
You may decide
an agent's commission is a bargain the first time that a would-be buyer shows up unannounced at dinnertime. Also, be aware
that a real estate agent probably knows a lot more about the business of selling a home than you do. Here are some of the
advantages professional agents offer:
They will help you establish a fair asking price for your home.
They
will promote your home to other agents and list your property in multiple listing services. A multiple listing service is
a book or computer database that all real estate agents who subscribe to the service can access. Your home will get exposure
to all those agents, one of whom may have the perfect buyer.
They will create, pay for and place advertising for you.
They will schedule appointments to show your home to prospective buyers even when you are not there.
They can
weed out buyers who will not qualify for a mortgage.
They can refer you to sources for insurance, inspections, legal
counsel and financing.
They will help you negotiate with the buyer.
They can make suggestions to help make your
home more attractive to a potential buyer.
If you decide to sell through an agent, ask friends and neighbors for recommendations.
Talk to several agents before picking the one you want to work with. Taking a walk through your home with an agent should
give you a feel for how that person will handle prospective buyers. Ask prospective agents how they plan to market your home.
Don't sign with an agent just because he or she suggests the highest asking price. Negotiate the broker's commission prior
to listing your home, and sign for a limited period of time—usually three to six months.
Setting a Fair Price
Naturally, you want to get top dollar for your home. But, at the same time, you don't want to scare off potential
buyers with a price tag that's too high. Setting an artificially high price may cause your property to languish on the market
for months. Reducing your asking price later on may lead buyers to wonder if there is something wrong with your home. Here
are some of the factors to consider in pricing your home.
Your location
Economic conditions
Supply
and demand in the local housing market
Seasonal influences
Local schools
Average home prices in the neighborhood
Your home's extras -- pool, fireplace, central air, etc.
To determine the value of your home, you probably will
want the advice of a real estate agent or appraiser. Ask an agent to prepare a market analysis for you, showing the recent
selling prices of three neighborhood properties comparable to your own. The agent can help you adjust for the unique features
of your own property.
Qualifying a Buyer
Either you or your agent will want to quickly weed out potential
buyers who cannot really afford to purchase your home. A number of factors will help determine whether or not you are wasting
your time negotiating a sale.
The buyer's debt and credit history
The buyer's current income and employment
The buyer's cash position and availability of a down payment
The length of time the buyer needs before closing
on your home
How interested the buyer appears to be in your home versus others
Seek Legal Representation
When selling your home—particularly if you are selling on your own—it's a good idea to be represented by an
attorney. Look for an attorney with expertise in real estate transactions. When a potential buyer puts an offer in writing
and you accept it, the signed acceptance becomes the sales contract. Your attorney will be present at the actual closing to
protect your interests and can assist you with the following elements of a sales contract:
The sale price
What
is included in the sale price -- draperies, carpeting, light fixtures, heating oil, etc.
The amount of the down payment
The date of closing and possession date
Contingencies to the sale--inspections (e.g. structural, lead-based paint,
radon), required improvements, legal review of the contract by the buyer's or seller's attorney, etc.
The amount and
length of the mortgage loan, interest rate and time limits to secure the loan
Determining which closing costs are to
be paid by the buyer and which by the seller
Tax Implications
Selling a home can have a major impact on your
federal and state tax returns. Check with your tax consultant on the factors that may affect taxes resulting from the sale
of your home. For example:
Whether you purchased the home or acquired it by gift or inheritance
Whether
you used your home partly for business or rental
Costs associated with selling your home
Home improvements or
additions, which may help to offset capital gains
The sale of your home. In certain cases you can exclude up to $250,000
in gain ($500,000 for married couples filing a joint return) on the sale of property that was your principle residence for
at least two years. Generally, you can use this exclusion every two years.
Congratulations!
You've successfully
weathered the logistics of selling your current home, and you're ready to Contact A Realtor!
Please feel free to contact
us anytime!
Troop Real Estate 6128 Telegraph Rd.
Ventua
Ca. 93003
805-856-9329
Craig Sprague
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