Kelly Innello's Blog
Selling a home takes patience. Especially when you’re balancing your time between settling into your new home, and keeping up with your work and family life. So, when you’ve finally gotten to the point of accepting an offer on your home, you’ll probably breathe a sigh of relief--and you should! However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.
Contingencies on the purchase contract
A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.
There are three main contingencies that will likely be included in the purchase contract before closing--inspection, financing, and appraisal.
The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.
Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.
This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they aren’t penalized.
The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.
If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.
Walkthrough and closing
Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasn’t drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.
Now you’re ready to close on your home sale. You’ll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.
While the closing process does include several steps, it’s important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.
As a home seller, it is important to do everything possible to ensure your house impresses buyers. If your residence makes a positive impression on buyers, you could speed up the house selling process. Plus, you may be better equipped than ever before to maximize your house sale earnings.
Now, let's take a look at three tips to help you transform your home from drab to fab and ensure your residence garners lots of interest from potential buyers.
1. Upgrade Your House's Curb Appeal
Your house only gets one chance to make a positive first impression on buyers. Fortunately, if you enhance your home's curb appeal, you can make the most of this opportunity.
Completing assorted home exterior upgrades may help you make your residence stand out to buyers. For instance, mowing the lawn and trimming the hedges will help you quickly improve your house's front lawn. You also may want to repair any cracked or damaged home siding.
2. Eliminate Clutter
There may be no time like the present to remove unwanted items from your house. Because if you eliminate home clutter, you can show off the full size of your living space to potential buyers.
To cut down on home clutter, you may want to host a yard sale or list unwanted items online. This will allow you to simultaneously get rid of unwanted items and earn extra cash.
You can always donate unwanted items to a local charity, too. Or, you can give unwanted items to family members and friends.
3. Clean Each Room of Your House
An in-depth home cleaning is a must, particularly for an individual who wants to enjoy a seamless house selling experience.
When it comes to cleaning a home, there are lots of options at your disposal. For do-it-yourselfers, you can allocate time and energy to mop the floors, wipe down countertops and perform other house cleaning tasks. On the other hand, if you want extra help, you can hire a professional home cleaning company.
As you search for ways to stir up interest in your residence, you may want to employ a real estate agent as well. If you have a real estate agent at your side, you can get the help you need to expedite the house selling journey.
A real estate agent knows the ins and out of the home selling journey and can help you plan accordingly. First, he or she will meet with you and learn about your home selling goals. A real estate agent then will put together a plan designed to help you achieve your goals without delay. And if you ever have concerns or questions as you navigate the home selling journey, a real estate agent is ready to respond to them.
Want to get your house ready for the real estate market? Take advantage of the aforementioned home selling tips, and you could reap the benefits of a fast, profitable house selling experience.
As a home seller, it is crucial to do everything possible to prepare for a house showing. Yet determining the best ways to prep for a showing sometimes can be difficult. Fortunately, we're here to help you get ready for any showing, at any time.
Now, let's take a look at three tips to help you plan for a house showing.
1. Upgrade Your House's Curb Appeal
Although a property buyer likely has seen pictures of your house or walked or driven past your residence, there may be no time like the present to upgrade your home's curb appeal. Because if a buyer sees your home's beautiful front lawn and other stunning exterior features on the day of a showing, he or she may instantly fall in love with your residence.
Completing assorted home exterior improvements is crucial to enhance your residence's curb appeal prior to a showing. In fact, performing home exterior tasks like mowing the lawn and repairing damaged siding will help your residence make a positive first impression on potential buyers. Home exterior improvements ultimately may help you accelerate the property selling journey too.
2. Remove Clutter from Inside Your Home
Clutter is a major problem because it may make your house appear small and messy. If you allocate time and resources to remove clutter prior to a home showing, however, you can highlight the true beauty of your living space to potential buyers.
If you own items you no longer need, you can always sell these items online or at a yard sale. You also can donate unwanted items to charity or give them to family members or friends.
In addition, you can always put various items you want to keep in storage. If you rent a storage unit, you can keep assorted belongings safe until your residence sells.
3. Consult with a Real Estate Agent
With a real estate agent at your side, you can receive comprehensive support leading up to a house showing. A real estate agent will offer recommendations and suggestions to ensure you know what to expect from a showing. Plus, he or she will respond to any of your home showing concerns or questions.
Furthermore, a real estate agent will help you navigate the home selling cycle. He or she first will meet with you, find out why you want to sell your residence and help you craft a property selling strategy. Next, a real estate agent will promote your residence to dozens of prospective buyers. And if you receive an offer to purchase your home, a real estate agent will help you analyze this property buying proposal. A real estate agent will even negotiate with a buyer's agent on your behalf to help you optimize your home sale earnings.
When it comes to hosting a home showing, there is no need to worry. Thanks to the aforementioned tips, you can plan for a home showing. And as a result, you can take the necessary steps to ensure a home showing is an instant success.
Home sellers may encounter problems as they try to get the best prices for their residences. Fortunately, there are lots of things that sellers can do to reduce or eliminate hurdles that otherwise may slow down the house selling journey.
Now, let's take a look at three tips to help you tackle various home selling hurdles.
1. Analyze the Local Housing Market
The local housing market may play a major role in how much you ultimately receive for your residence. Thus, if you analyze the local housing sector closely, you may be able to gain deep insights that you can use to guide your home selling journey.
Oftentimes, it helps to differentiate between a buyer's and seller's market. If you find out how long houses generally are available before they sell in your city or town, you may be able to determine if a buyer's or seller's market is in place. Then, you can tailor your house selling efforts accordingly.
2. Know Your Home
A buyer will assess your home's condition before deciding whether to submit an offer to purchase your residence. If you understand the current state of your residence, you can correct house problems right away. And if you quickly address these home issues, you may be able to accelerate the house selling journey.
It may be beneficial to conduct a house inspection prior to listing your residence. With an inspection, you can receive in-depth insights into any underlying house issues. Next, you can use an inspection report to prioritize home repairs and upgrades.
3. Collaborate with a Real Estate Agent
As you get set to navigate the home selling journey, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can receive the support you need to instantly identify and resolve assorted property selling issues.
A real estate agent is committed to client satisfaction, and he or she will do everything possible to help you alleviate house selling issues. First, a real estate agent will learn about you and your house selling goals and craft a personalized property selling strategy. He or she then will work with you to promote your residence to prospective buyers. And if you receive an offer to purchase your house, a real estate agent is happy to provide a recommendation about whether you should accept, reject or counter this homebuying proposal.
In addition, a real estate agent goes above and beyond the call of duty to minimize home selling stress. If you ever have concerns or questions during the home selling journey, a real estate agent is ready to address them.
For those who want to resolve home selling problems, it helps to plan ahead for the property selling journey. Thanks to the aforementioned tips, you can prepare for any home selling problems that may come your way. As a result, you can use these tips to address home selling issues and achieve the best-possible results during the house selling journey.
If you want to enjoy a successful home selling experience, it generally is helpful to establish a competitive initial asking price for your residence. With an aggressive price, you can stir up lots of interest in your home. As a result, you can increase the likelihood of a fast home sale.
Now, let's take a look at three tips to help you set a competitive initial asking price for your house.
1. Conduct a Home Appraisal
A home appraisal enables you to receive a property valuation. Then, you can use this valuation to determine how to price your house.
In addition, it often is beneficial to conduct a home inspection prior to listing a residence. An inspection allows you to receive insights into any home problems. Once you have a home inspection report in hand, you can prioritize house repairs and upgrades, improve your home and get the best price for your residence.
2. Evaluate the Local Housing Market
Take a look at the prices of available houses in your city or town that are similar to your residence. By doing so, you can establish a price range for comparable homes and use this information to decide how much to ask for your house.
Also, you may want to take a look at the prices of recently sold houses in your area and find out how long these residences were available before they sold. This housing market data can help you differentiate between a buyer's and seller's market.
3. Consult with a Real Estate Agent
Pricing a home can be difficult, particularly for those who are listing a residence for the first time. If you work with a real estate agent, however, you can receive in-depth house selling insights and ensure you are better equipped than other sellers to optimize your home sale profits.
A real estate agent is happy to help you set an initial asking price for your home that hits the mark with buyers. He or she first will learn about you and your home and create a custom property selling strategy. Next, a real estate agent will help you prepare your residence for the real estate market. And when you're ready to sell your house, a real estate agent will add your residence to the local housing market and promote your home to buyers.
Of course, a real estate agent provides lots of assistance throughout the home selling journey too. A real estate agent will offer honest, unbiased recommendations at each stage of the home selling journey. Best of all, he or she will respond to any of your home selling concerns and queries.
As you get set to enter the real estate market, you should consider how to price your residence. Thanks to the aforementioned tips, you can set a competitive initial asking price for your home. That way, you can generate significant interest in your house as soon as it becomes available.