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Preparing to Sell Your Home
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Preparing to Sell Your Home |
When You Move
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TOP 8 TIPS FOR A SUCCESSFUL HOME SELLER TRANSACTION |
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| 1 |
Choose a Real Estate Broker/REALTOR |
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People who sell by owner and allow their homes to linger on the market for months or are not doing themselves any favors. The market changes regularly,and they may be asking too little or too much. |
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| 2 |
Do not overprice your home |
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When you sell a home, everything is about price, condition, & the current market.If you're not priced right for the actual condition of your home, or for the type of market you are in, you could wait a long time for a good offer. It is important that you listento the realtor's reasoning for the price that he/she recommends. |
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| 3 |
Prepare your home for sale |
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Your home will sell quicker if you spruce it up and keep it clean. Touching up paintedsurfaces and patching damaged wallpaper will make the residence more attractive to potential buyers. Remember that you do not get a second chance to make a good first impression! |
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| 4 |
Odors vs. Aromas |
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Pet smells and other odors cling to the carpets, drapes, furniture, and othersoft surfaces. Cigarette smoke can even permeate into wallpaper and paint.If your house smells of anything unpleasant, it'll be a tough sell. Aromas from scented candles or freshly baked foods are always a plus. |
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| 5 |
Be absent during showings |
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It is uncomfortable for the buyer to view your home if the seller is present. |
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| 6 |
Recognize a good offer |
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The strongest and best offer is usually received within the first 2-3 weeks, and will come(most likely) from a strong buyer who is presently searching for the "right home." Consider it an opportunity to realize your goal. |
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| 7 |
Make your final mortgage payment before closing |
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Even if a seller is closing on the second day of the month, it is imperative to make everymortgage payment on time, regardless of whether or not a contract to sell the home hasbeen signed. Escrow officers and attorneys draw up closing documents with numbersbased on payments that the lender has (or should have) submitted. Since each paymentis due on the first of the month, you must make the final mortgage payment, even if you are closing the next day; otherwise, all the calculations will be incorrect. You may alsobe penalized with a late fee in addition to adding a scar to your credit history. |
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| 8 |
The importance of the transfer of title date |
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Thanks to Uncle Sam, if you have lived in your home for two of the past five years, you cantake the first $250,000 (up to $500,000 for married couples) in profits tax-free. Note: Sellers cannot live in a home for eighteen months and take three-quarters of the maximum profit tax-free, unless you are moving fifty miles away to take a new job or are obliged to sell for a specific health reason. If you close on your home after living in it for only twenty-threemonths, you'll owe long-term capital gains tax on any profit you make on your home. This can be a significant amount in some instances, resulting in a costly penalty.The caveat is to maintain residence in your home for at least twenty-four months prior to selling. |
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ROOM-BY-ROOM CHECKLIST |
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To Make a Good First Impression! |
| Kitchen |
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Countertops empty (except for a few attractive items & cleaned, floor washed |
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or swept, cabinets organized (don't forget under the sink), garbage thrown away |
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(no smells), vase of fresh flowers |
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Bookshelves neat & organized |
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Pantry organized & cleaned |
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Private papers & mail stored |
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Broom closet organized |
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Floors swept and washed |
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Focal point of room clearly visible & in order |
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| Dining Room |
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Table dusted, chairs straight, table clear or set with nice place mats |
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Floor dusted, carpet vacuumed |
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Art straightened, silver polished & attractively displayed |
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Floors swept or rugs vacuumed |
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Focal point of room clearly visible & in order |
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| Family Room |
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Furniture straightened, cushions plumped & smoothed |
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Surfaces empty & dusted, carpet vacuumed, floors washed or swept |
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Bookshelves neat & organized, papers put away |
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Children's toys organized; videos, tapes, and CDs put away |
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Floors swept or rugs vacuumed |
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Focal point of room clearly visible & in order |
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| Office |
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Furniture straightened, cushions plumped & smoothed |
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Surfaces empty & dusted |
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Bookshelves neat & organized |
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Private papers stored |
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Closet organized |
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Floors swept or rugs vacuumed |
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Focal point of room clearly visible & in order |
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| Bedrooms |
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Beds made, pillows plumped, furniture straightened |
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Dirty clothes, towels, etc., in the hamper or washing machine |
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Clutter in your "clutter collector" |
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Floors swept or rugs vacuumed |
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Nightstands empty or organized attractively |
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Focal point of rooms clearly visible & in order |
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| Bathroom(s) |
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Attractive towels neatly displayed |
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Sink, tub or shower, or toilet sparklingly clean |
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Floors washed, bath mats clean & dry |
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Dirty clothes, towels, & bathrobes in the laundry hamper |
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Pretty soaps in the soap dish or dispenser |
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Focal point of rooms clearly visible & in order |
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| Basement & Attic |
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Floors clean & dry |
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Mechanical systems recently serviced |
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Toys organized, furniture straightened, boxes stacked neatly |
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Light bulbs working? Does the space need any additional light? |
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Water filter changed |
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| Garage |
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Tools, bikes, & garden equipment organized & safely stored |
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Floor & stairs swept clean |
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| Outdoors |
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Grass mowed, sidewalks & patio swept |
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Flower beds edged and weeded |
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Furniture stacked neatly or organized |
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Garbage picked up |
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Driveway snowplowed and walkways shoveled |
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This information is courtesy of 50 Simple Steps You Can Take to Sell Your Home |
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by Ilyce R. Glink (New York: Three Rivers Press, 2003) |
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