Call/Text 602-300-0374
Sell Your Home
Our goal is to get you the best deal while making your home selling process as informative, fun, and stress free as possible.
Home Sellers Resources
Home Condition
The condition of your home will help determine It's relative value. A majority of homebuyers think they'd like a home that's updated and move-in ready. if that's not your home it's okay. In this case, make sure your home's maintenance is current and there are no obvious repairs that are needed.
Outside - Everything starts with curb appeal. Take some time to:
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clean and trim your yard
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repair areas with chipping or excessively faded paint
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clean the entire area around your front door; remove all debris, dust/dirt, cobwebs, etc.
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make sure your doorbell works, and consider a new door mat
Inside - Buyers need to see themselves living in your home, Consider the following:
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reduce clutter by storing, selling, or donating unneeded items
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minimize personal effects
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clean all surfaces
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repair anything that's broken or in need of maintenance
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replace all burnt out lightbulbs
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consider an air freshener or someway to make the home smell good or at least neutral
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considering some light staging or rearranging furniture to optimize room space (Kristina is a retired interior decorator and can make suggestions)
It's natural for a buyer to enter your home and start adding up the dollar value of items they want to replace or repair. Give them as few as possible.
Home Value
When you’re selling your Phoenix area home, the price you set is a critical evaluation factor in the interest you’ll receive from home buyers. That’s why you need a professional evaluation from an experienced realtor. We can provide you with an honest assessment for the sale of your home. Important factors include:
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market conditions and recent area comparable sales (not a computer generated valuation)
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condition of your home
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repairs or improvements
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time frame needed for your sale
In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days. Setting your price too high :
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Limits buyers – potential buyers may not view your home because it would be out of their price range.
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Limits showings – Realtors may be more reluctant to show your home.
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Allows your home to be used as leverage - other realtors may use your home as a reason to look at homes that are realistically priced.
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Extends time on the market – when a home is on the market too long it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
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Results in a lower eventual price – an overpriced home, still on the market beyond the average selling time, will lead to a lower selling price anyway. To sell it, eventually you will have to reduce the price, sometimes even several times. In the end, you’ll probably get less than if it had been properly priced at the start.
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Creates wasted time and energy – A bank appraisal is required to finance a home. You can list as high as you want but your home has to appraise. A low appraisal will force you to reduce the price. Pricing to high will cause you to make additional mortgage payments, cause stress, and waste time.
Fees
Sellers have typically paid all commissions for many decades. The commission was split between your listing agent and the buyer's agent. It's important to note that commissions are negotiable and are not set to any standard. For more information on recent changes to real estate law, click this link to learn more about commissions and the buyer's agreement.
There is value in utilizing the skills of a professional Realtor. We will help you decide on a commission structure that will accomplish your goals. We have generally charged between 3.5 to 6.0%, depending on the situation. Call us at 602-300-0374 for an honest discussion about fees and how we can make your sale more profitable.
Marketing
85% of all house buyers begin their search through the MLS. When selling your home you only have one chance to impress them. It’s a proven fact: listings with great pictures get much more attention than houses with average or poor pictures. Kristina is an interior designer with 30 years experience. She gives free interior design advice to our clients that includes optimizing the spaces in your home.
Then we send in our professional real estate photographer to take high quality, wide-angle pictures that create interest from buyers. To attract the right buyer, and to minimize unnecessary showings from buyers who might not like your floor plan, we use the latest technology from Matterport Tours.
High angle view of front yard creates depth
Note the image clarity of both the indoors and outdoors
Adding pool toys can enhance a pool's personality
High angle view of front yard creates depth
The next step is to create an interesting description to motivate potential buyers. We'll be sure to include your favorite things about the home and surrounding area, and we are open to suggestions. Creative words will enhance the professional images and video tour we'll provide.
Other Marketing
Your home will appear across all the major real estate portals once we load it into the MLS. We'll also promote it across social networks. If you prefer, open houses are an option. In our experience, we've found a majority of lookers are nosey neighbors who happen to see the signs, but that could change.
Showings
This is when all the hard work starts to pay off. Buyer's have seen the pictures, watched the video, and they've read the description. They now want to know more, and they want to see if they can visualize themselves living in your home.
A buyer's agent will request a showing time through our Realtor portal. They will also provide the estimated time in your home. You decide if the requested time is acceptable. If so, the request will be granted. If not, the buyer's agent will request an alternate time.
We highly recommend you leave your home so the potential buyer can experience it and discuss the pros and cons in private with their Realtor. If you cannot leave, we recommend waiting out front (or some variation) until they are finished.
Before you leave, be sure to complete these items:
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make all beds and vacuum your carpets
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clean off all kitchen and bathroom surfaces
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make sure all valuables are secured (we've never had a buyer walk off with anything; this is just common sense)
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secure all pets
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open blinds and turn on lights
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do something to make the house smell good
You can return after the showing. We will request and provide any feedback from the buyer's Realtor.
Getting Offers
Every offer you receive, whether it be written or oral, will be presented to you. Only written offers are valid and enforceable. Oral offers are only presented to "get a feel" for what you may be willing to accept. They are not enforceable, and they are generally presented by a buyer looking to get a deal.
You will sign any written offer that is acceptable to you. You are then under contract and bound by the terms of the agreement. You would send a counter-offer if the terms of the offer are not acceptable to you. You may change one or more terms of the original offer and send it back to the buyer. You would be under contract if the buyer agrees to the proposed changes in your counter-offer.
Important Terms
Here are a few key points relevant to any offers:
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offer price
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earnest deposit
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closing date
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concessions sought by the buyer
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buyer financing and whether it is contingent on any factors
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any changes to the commission structure
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any special conditions sought by the buyer
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length of the buyer's inspection period
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time of offer acceptance
Once the offer is completely signed, we will change the status of your MLS listing to show it under contract. This is required by MLS rules, and it's fair to not mislead any other potential buyers. There is, however, a MLS status that says you are willing to entertain back-up offers. The back-up status is always our recommendation until such time as your contract is nearing the final closing stages.
Seller Disclosures
Sellers will be required to submit a disclosure statement and insurance claims history to their prospective buyer:
Seller Property Disclosure Statement (SPDS)
This is a multi-page document that discloses everything you know about your property. You are under legal obligation to completely and honestly fill out this multi-page form and submit it to the buyer. If a defect is discovered after completion of the sale, and if it can reasonably be proven you knew about it, you may be required to make repairs. Honesty is the best policy, and it will allow you a better night's sleep.
Insurance Claims History
A buyer needs assurance they will be able to obtain home owner's insurance. Some companies will deny coverage if a home has had numerous claims and is considered a risk. You will be required to submit a claims history to your buyer for a minimum of 5-years, less if your ownership is less than 5-years.
Buyer Inspection Period
Unless otherwise stated in the contract, the buyer has 10-days to complete their due diligence through a variety of inspections. The number of inspections may vary by person, but these are the most common:
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general home inspection looking for defects and deferred maintenance
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reviewing of HOA rules and regulations (if any)
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crime statistics
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termite infestation
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septic tank (if any)
Home inspectors are generally considered jack of all trades, so most have a really good knowledge of home construction. However, they do limited testing of certain items. For this reason, some buyers pay for more thorough and specialized inspections of roofs, AC units, and pools.
If the Buyer Asks for Repairs
Buyers can ask you to make repairs if unsatisfactory conditions are present in and around the home. They can also the cancel the contract completely if conditions exist beyond your control. Such things to immediately cancel a contract would be HOA rules or unacceptable levels of crime.
However, it's more common for a buyer to ask for a repair or series of repairs. These are the 3 options if the buyer decides the home needs repairs.
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The buyer can cancel the contract and receive a refund of their earnest deposit
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The seller can refuse to make repairs. The buyer can cancel the contract and receive a refund of their earnest deposit
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The buyer and seller can negotiate which repairs will be done and which ones will be rejected
The completion of the buyer's 10-day inspection period is considered a big step. The next step is for the buyer to order their appraisal.
The Appraisal
An appraisal is required on any purchase that requires a mortgage. The appraisal assures the buyer and their lender lender your home is worth the agreed upon price. Appraisals can cost between $450 and $850. Because the cost is non-refundable, buyers generally will not authorize their lender to order the appraisal until completion of the 10-day inspection period. The appraisal is an important step and one of the last major conditions required by a lender. You're on your way to the final closing when the house appraises.
There will be a few options if the house does not appraise: 1.) the buyer can cancel the contract and receive a refund of their earnest deposit, 2.) the seller can reduce the price to match the appraisal amount or, 3.) the buyer and seller can meet somewhere in between the contract price and appraised value. However, doing this assures the buyer will need to bring extra cash to the deal because their lender won't increase the loan size to meet a higher price.
Appraisal Factors
The best comparable sales are those that:
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sold in the last 3 months but within a maximum of 6 months
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are within 1 mile (best in the same subdivision)
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are within +/- 10 years build time
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are within +/- 15% square feet (20% is permissible)
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are the same number of levels
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have a similar lot size
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have same/similar parking and pool arrangement
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have similar features and upgrades
Adjustments in value are based on differences between your property and 3+ comparable sales.
Escrow & Title
Escrow companies and title companies are both neutral third parties that play important roles in real estate transactions, but they each have different functions. They can be the same company, but they can also be different depending on a companies specialty.
Respond quickly when contacted by the escrow company. They need to collect information from you in order to manage the transaction and close the sale on time.
Escrow companies manage funds and assets for the transaction:
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Escrow accounts: Protect earnest money and other funds throughout the closing process
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Contract enforcement: Ensure that the contract is followed and that money goes to the correct places when the contract terms are met
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Deed transfer: Manage the transfer of the deed for the money paid
Title companies protect the property's title and ownership history:
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Title searches: Ensure the seller legally owns the property and that the title is clear of liens, encumbrances, or other legal issues
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Title insurance: Protect the buyer and lender from legal claims about ownership of the property
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Litigation: Help settle liens and judgments on the property
The escrow company will handle and disburse all funds from the sale of your home. That includes paying off any mortgage, HOA fees, commissions, and anything else related to your home. You will receive your net proceeds either through an escrow company check or direct deposited into an account of your choice.
Preparing to Close
Here are some of the most important items to manage as your sale gets ready to close.
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Any agreed upon repairs must be completed no later than 3-days before close of escrow, and all repair receipts and warranties should be forwarded to the buyer.
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You should be completely moved out of your home 1-day prior to the closing date. If your sale closes on a Friday, your home should be empty and clean Wednesday night. Why? The buyer has the right to do a walk-through inspection and see the home in it's final condition. In this case, Thursday is the buyer's inspection day. This insures there is no move-out damage, as move-out damage is the responsibility of the seller.
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You must leave all utilities on until the house transfers ownership. This allows the buyer to insure all electrical and plumbing features are properly working.
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Gather all keys (house, pool, and mailbox), garage openers, manuals, warranties, helpful instructions, contact information for pest control and pool maintenance, and any other helpful information for the buyer. Place them in a kitchen drawer or some place of your choosing. This will help the buyer make a smooth transition into the home.
Common Courtesies
Trash
Plan to leave your trash and recycle cans empty. The buyer will have many boxes to unpack and will need them. This simple action creates goodwill by giving the buyers needed space and avoiding a potentially smelly garbage can upon arrival. Dispose of trash early to avoid last minute clean-ups. If you must leave trash, ask a neighbor to put out your cans and return them after collection.
Nail Holes
Remove nails from the walls and fill the holes with putty. This is a big bonus to buyers and really enhances goodwill. Use a small amount of touch up paint if it's available from the last time the house was painted.
In General
Leave your home in the condition you'd like to find it if you were moving in.