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Posts Tagged ‘ Selling A Home ’


Selling Your Home? Get Rid Of The Clutter!

Wednesday, March 3rd, 2010

Putting your home on the market involves some work. There may be repairs to make, cleaning to do, and perhaps some painting. But one of the first and most important things you can do before putting your home on the market is to de-clutter it as much as possible.

The objective is to make the home appear open and inviting when you are welcoming prospective buyers. The reality is a clutter-free home looks more spacious. Think less is more!

The first step is to decide what items are essential for everyday living. Once you’ve established that, you can begin to sort through the rest of your things. It helps to organize items into three categories, one to keep, one to sell and one to donate.

Having a garage sale is a great way to begin your de-cluttering process. After the sale, you may wish to donate any items that didn’t sell.

Once you have decided which of the items you are keeping, it is best to pack up and store off-site your personal items like collections and photos. This allows the buyer to visualize the space being their own, and prevents them from being overwhelmed and distracted by your stuff.

De-cluttering your home can be quite a process, so make sure you give yourself plenty of time to get the job done right.

If you have a lot of things to get rid of it may be wise to consider a junk removal service. These companies specialize in residential cleanup and will remove unwanted items – from small items to old furniture, appliances, etc. – from your home. They do all of the loading and cleanup for one predetermined price.

If you are overwhelmed by the process, or have accumulated a vast inventory of items over the course of many years, you may want to check out The STACKS Organizational System. It is a step-by-step method for dealing with de-cluttering and organizing your home.

Whether you decide to tackle it on your own or with the help of a professional, begin the process as soon as you make the decision to sell your house and keep chipping away until you get the results you want. Not only will you be getting your house in perfect “show” condition, you will also be preparing to make your packing and moving experience a much lighter, organized and easier one.


Evaluating an Offer When Selling Your Home

Friday, February 26th, 2010

You’ve received an offer on your home, now what? Remember once you accept an offer, that offer quickly becomes a legal binding contract to sell. So, before you accept any offer there are a few steps you should take to make sure the deal is in your best interest.

  1. First find out if the buyer has been pre-approved for the mortgage loan. Many deals are either held up or get canceled because the buyer can’t obtain financing – thus wasting valuable time.
  2. Find out if the buyers is expecting you to pay for repairs or agent commissions. Add these together and subtract that number from the offer they are proposing. This number represents the actual offer they are making.
  3. Ascertain is what your absolute bottom line is. Make certain that you research your costs and do the math.
  4. Once you obtain the balance of your mortgage, ask your real estate attorney to estimate closing and escrow costs you will be responsible for.
  5. These numbers will determine whether you are going to profit or pay out of pocket to close the deal.
  6. The offer will have an expiration date. Most buyers will give you enough time to consider the offer carefully. However, If the deadline you have been given is short, find out why. Most of the time, if the buyer feels there are other interested parties, the deadline will be shortened in hopes of getting their offer accepted first.
  7. Alert any other serious, interested parties that you have an offer on the table. Multiple offers can lead to a bidding war and reward you with the best possible deal.
  8. Above all, consult with the experts. Be sure to have your attorney review the contract prior to accepting it. He can fine tune it and make suggestions you may have overlooked.

Will Your Remodeling Project Pay Off?

Wednesday, February 17th, 2010

With the changes that have taken place in the real estate market over the last few years, it is more important than ever to look closely at and choose wisely  any remodeling projects you may be considering.

The average return on value for a remodeling project declined from 87% in 2005 to 64% in 2009. Follow these simple guidelines to ensure the maximum return on your remodeling investment.

1. Repair rather that upgrade:
Having many upgrades in your home can enhance the enjoyment of the home as well as attract buyers. However, defects caused by improper maintenance of your home can quickly become a major financial burden for you in addition to eliminating the interest of any potential buyer. No one wants own or purchase a home with issues.

By neglecting to disclose defects to your potential buyer, you are putting yourself at risk to pay a penalty. This, in addition to having to foot the bill for the repair, will only add to the time and expense of closing a potential deal.

If need be, have a home inspection. Address any problems that the report reveals. By performing routine maintenance you will ensure the comfort and safety of your home as well as making it more attractive to buyers.

2. Remodel existing space rather than adding square footage:
The current trend in real estate favors quality over quantity. A multi-use great room for example, is more desirable than a formal living room and separate family room.

Consider finishing a basement or attic. Keep an open floor plan idea in mind as you visualize reconfiguring the space you use now into more user friendly square footage.

3. Don’t over-remodel or upgrade:
When planning a project, keep the neighborhood in mind. Your amenities should be comparable to the other homes on the block, especially if you are planning on selling.

If your plans are to stay in your home for more than five years, now may be an excellent time to consider doing that home improvement project you’ve been putting off. Home improvement contractors are hungry for work and are willing to offer more competitive pricing just to keep their workers busy. Getting multiple bids may translate into a real bargain for you. But, as always, don’t base your decision solely on price. Always ask for and check references.

If you plan on moving within 3 to 5 years experts agree that you should not take on the expense of a major project. The risk is just too high that your investment, aside from necessary repairs and cosmetic work, could be lost while the real estate markets continues to struggle.

4. Think Eco friendly and Tech infrastructure:
Green features save you energy and money, as well as making the home more desirable to todays eco-friendly home buyers.

Take advantage of federal tax credits, plus local rebates and tax incentives (see dsireusa.org) by replacing worn appliances with new Energy Star appliances and adding extra wall insulation.

If you do open a wall for a construction project, consider adding extra cable and Ethernet ports. At a cost of about $80 per room, you will ensure your home will have the capability to utilize new technologies that come along.

Do some research and carefully consider your goals when planning a remodel project. Make an informed decision in order to benefit your individual situation and maximize the return on your investment.