Sellers Frequently Asked Questions
What Should a Seller Know?
Should I offer incentives like a home warranty, closing costs, or selling agent bonus?
Incentives are something we like to consider on a case-by-case basis. There are certain circumstances where it may be smart to offer an incentive. Some incentives can be offered from the start. For example, if your home is in an area that doesn’t get a lot of traffic, I may offer an incentive to agents to bring us a buyer. Or if you know the appliances are at the end of their lifetime, you may offer a home warranty to help the buyers replace them. Other incentives, like helping with closing costs, are better used during the negotiation process.
What do I need to disclose?
It’s smart to disclose any issues right up front. Your buyers will have the right to inspect the home, so it’s best they not be hit with bad news after going under contract. If you know of problems with the appliances, plumbing, electric, HVAC, roof, foundation, property lines, or deed, these need to be listed on the Seller’s Property Disclosure. If there are repairs that you can have done before listing, go ahead and take care of those. Anything that cannot be remedied before listing should be considered when setting your list price.
What happens if my home doesn’t appraise above the contract price?
It sometimes happens that a home does not appraise at or above the contract price. When this happens, we go back to negotiations to determine if we can save the deal by adjusting both the sales price and the terms of the contract to the satisfaction of both buyer and seller. Usually we are able to work it out and save the deal. You always have the right to refuse to lower the price to meet the appraisal, but it’s usually in your best interest to try to work with the buyer to resolve the issue as the next appraisal could result in the same valuation. If you are concerned about the appraisal value, go ahead and have your home appraised before setting the listing price.
How do you negotiate multiple offers?
A multiple-offer scenario is a fun position to be in as a seller. I will help you through the negotiation process to select the right buyer– and that is not always the one with the highest offer. We need to consider how strong the offer is, whether they are offering cash or financing, how much they are financing and what type of loan they are using.
How long will it take to sell my home?
The length of time on market will depend upon the market in your area at the time of listing, whether the home is priced realistically and what other properties are for sale in the area. I am always working to get you the highest price in the shortest time possible. On average, a home that is priced right goes under contract in two weeks. If you need to sell fast, that should be reflected in the list price.
Dream Homes of Colorado can help your through all of this. Contact us today!