Pricing is tough, but the next part is really time-consuming and a bit nerve wracking to be quite honest. There are several steps that you need to take in order to prepare your property for showing.
The time-consuming part is why I suggest that you give yourself a little stint between actually deciding to sell and putting a sign out front.
One of the very first items you’re going to want to check off is getting all appropriate paperwork in order. The list is a bit extensive, and is by no means an ‘across the board’ kind of deal. Precisely what you need often varies by state.
Even worse is the fact that it just as often varies by county. The best way to find out exactly what you need is to check with a local real estate agent.
Of course, I am always at your disposal and can help you sort out what you need for all of my surrounding areas. Just give me a ring, and I’ll help you out.
Pre-Liminary Title Reports are Required. It is required by law that if a home buyer is using a mortgage loan to purchase a property that mortgage surveys be done. This guarantees that the property is as is should be without any encroachments.
An example of an encroachment might be that a neighbor has gone over the boundary line of your property with their garage, or that you might have put a fence in that is actually on their land. All improvements will also be noted on this “pre-lim”.
Title insurance can be tricky business, and a professional needs to handle the whole situation.
You may recall hiring someone to ‘search your deed’ when you originally bought the home you are now selling.
Title insurance is bought at that time, although you may not have even been aware that that was what you were doing. It basically guarantees that the deed to your property was searched from the present back to the 1800s (or earlier.)
The insurance is for protection against human error, because let’s face it: mistakes do happen.
The process will also have to be done again with your current sell, but it’s very handy to have your prior paperwork nearby.
California Demands Disclosure Statements. It isn’t uncommon for states to mandate that a seller provide potential buyers with certain disclosures about the property being sold. Some examples of disclosures are natural hazards, pest control and lead paint.
These few are certainly not the limit of what can be required of you. A qualified real estate agent, such as myself, can help you to determine what is needed from you specifically.
A Pre-Inspection Report is Recommended. Technically, it isn’t normally a requirement for you to have a pre-inspection performed. Regardless of whether you’re forced to or not, it’s a good idea.
You see, most of the time certain inspections are going to have to be done before a mortgage lender will indeed offer the money for your buyer’s to purchase your property. In the event that some part of your home doesn’t pass inspection, you are in a whole wide world of very complicated trouble.
Now, if you go ahead and pony up the cash to get a pre-inspection done, you have every opportunity to make repairs yourself, and before the mortgage company in your future ever finds out about the problems.
Or, you could also choose to make allowances in your asking price for the repair of any faults once the home is out of your hands. Another route you could take is selling the home ‘As Is,’ but that’s a whole other ballgame unto itself.
I can’t say it enough, and you might be a little tired of it, but you really need to check with a professional before assuming anything. The rules for these sorts of circumstances are just too diverse from location to location for you to take anything to chance.
The last thing you want is to have legal repercussions from this sale hounding you years from now.
A Home Warranty is a Great Idea. A home warranty is becoming a greater and greater incentive to prospective home buyers. These warranties are purchased by you, the seller, at the close of your property.
Most often, a basic package is below $500 and guarantees a number of different home features for a year. These could include major appliances, electrical, plumbing, and heating and air systems, among other things.
You’ll want to really research and understand what you’re getting, because there are all sorts of home warranty packages available. Having the one you’ve chosen on hand while showing your property can really put your potential buyers at ease.
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