Posts Tagged resale homes
Mortgage Bits: The Highest Bidder doesn’t always Win when Selling a Property
Posted by Top Home Loans in General Business, Real Estate on November 8th, 2009
When you hire a real estate agent, you hope that they will be working in your best interests. You hope that they will get you top dollar for your property, and make the sale easy and stress free. You would never expect your realtor to be under handed or do something that is less than ethical.
However, the fact is at the end of the day, the realtor has to look our for themselves, so what key factors will a realtor look for when selling your property?
Selling Speed: realtors love quick closes and no conditions on the mortgage. This means they get paid faster and with less hassle. If a realtor has an open house, and the offer falls though, then that means they will have to start from scratch. A realtor is willing to take a lower bid with less conditions over a higher bid for your property.
Commission Amounts: a realtor will make a certain amount of commission on the sale of the property. When there is both a buyer’s agent and a seller’s agent, the commission is shared between the two agents; however, when the agent is shared by both the buyer and the seller, then the real estate agent gets both commissions.
In most cases the realtor would take a lower bid to get a higher pay cheque. This is true in most professions, so it is true in the real estate world as well.
How can you protect your bottom line as a seller? Keep your house on the market longer, refuse more bids, etc. Have a target price for your property and don’t settle for anything less.
What strategies did you use when selling your house? Did you get more or less money than you expected?
Welcome back!
Mortgage Bits: Property Listing Tips
Posted by Top Home Loans in General Business, Mortgage Advice, Real Estate on November 5th, 2009
The most critical part of selling your home is the property listing online. When home buyers are looking for a home to purchase, the property listing is the first thing that they will see. This will determine if your house gets viewed or doesn’t get viewed.
Pictures: like a new car, you should take pictures when your property is looking its very best. Staged properties do well, and the consumer would prefer more pictures than list. Don’t want to include a picture, then don’t expect to get too many offers.
Description: More is more when it comes to a description, the more details provided to the buyer the better. Use descriptive words of the property, textiles, hardwood, etc. Instead of words like wonderful, great spacious, etc. Everyone has a spacious house…
Specifications: When shopping for a computer, you would expect to see all the specifications for it before purchasing it, so why not a house as well. Provide age, sq ft, rooms. Fixtures, includes, etc.
Virtual Tours: these act as an extra credit addition to your listing; however, it is not required to have it to get the sale.
Listing Agent: the listing agent must be easy to reach. If they never call back or answer, then expect to miss out on many perspective buyers.
These are just some great ways to improve your conversion ratio on home sales. What other ways can you improve your property listings?
What to ask Before the Viewing of a Property
Posted by Top Home Loans in General Business, Mortgage Advice, Real Estate, Real Estate Postings on May 16th, 2009
What to ask before Viewing the Property
Motivation of the Sellers
- Why are the sellers moving? The reason why you want to ask this question is to see if there are any major problems with the house, or if the family is just moving to a bigger location. It is also a good idea to get a property search on the location to see how long they have lived there, and who the previous owners are.
- When do the sellers have to move by? If the sellers need to meet a waiver date on there own property, or if they have to move soon, then they will be motivated to sell. This will allow you to offer a lower price and it being accepted.
- If there is a divorce or separation, has all the required documents being signed or is it possible for the marriage to stay together and the house falls through?
- Have they found a property to buy? Do they need to move out by a certain time frame?
- Are they buying a newly built property? Is there a long wait until there move in date?
Details of the Property Being Sold
What is the square footage of the property?- What is the age of the property?
- What is the condition of the property?
- Will any major repairs need to be completed $1000+?
- Are there any signs of damage to the foundation?
- Has the property ever flooded?
- Has there been any robberies in the neighborhood?
- What is heating system?
- What is the age of the heating system?
- What is the cooling system?
- What is the age of the cooling system?
- What is the electricity system? What is the age of the electricity system?
These are just a few of the questions that you should be asking before viewing a property. When you actually view a property, you should make sure that you come prepared and bring a list of questions that you are going to ask. It may take you a few hours to complete the investigation; however, this is going to be a place where you and your family are going to be living for several years, so it is best to make a good decision, so you know for sure that you will be satisfied with the purchase of the property.