2007-05-18 / Real Estate

The Ten Most Common Questions Home Sellers Ask

By Reuben Brentwood

"What if there's something  wrong  with  my home? Do I have to tell the buyer?" It is always in the seller's  best  interest  to  disclose  everything  regarding the  state  of  the  property.  In most cases it is illegal not to. In  many  areas,  laws  have been established to hold the "What if there's something wrong with my home? Do I have to tell the buyer?" It is always in the seller's best interest to disclose everything regarding the state of the property. In most cases it is illegal not to. In many areas, laws have been established to hold the Selling a home. For most people, it's a little like being on trial: They're faced with more questions than they could imagine, and one wrong answer could cost them dearly. For first-timers, the decisions and implications of selling their most important investment can seem overwhelming. Even for experienced home sellers, keeping upto-date with the changes in the real estate market- or perhaps finding ways to overcome the problems they ran into last time- can be daunting.

Here is a list of answers to ten of the most common questions most home sellers face:

"How can I be sure now is the right time to sell?" For some homeowners, the decision to sell at a particular time is based on job relocation or some other factor that makes the answer to this question an easy one. However, for the majority of sellers moving is a more subjective matter. Therefore, one of the most important first steps any potential seller can take is to decide exactly what his or her own personal motivations for selling are.

"How do I find out what market conditions are like in my area?" After sellers know why they want to sell, the next step is to get a clear picture of the current local real estate market to determine whether factors are in favor of allowing them to achieve their goals. Potential sellers can compile this information by researching home sales to find out what comparable homes are selling for, or they can talk to a Realtor they trust who can provide them with this information as well as current insights on the market.

"How much can I expect to get for my home?" For the most part, pricing will depend on how much similar homes in the area are selling for, but each home is different. The best price is the one that takes all of the property's advantages and disadvantages into account as well as the goals of the seller. For instance, if the sellers absolutely must sell within a given time frame, they may need to set a slightly lower price than a similar home with owners who are in no rush and want to maximize their profit.

"How long will it take for my home to sell?" Local real estate boards keep track of the average length of time most properties stay on the market in the area. Prospective sellers should pay close attention to the time frames established in their listing agreement before they sign with any agent. They should ask their agent how long most of his or her listings remain on the market and what will happen if their home doesn't sell within the prescribed time. But beware of an agent who promises extra speedy results. They could be simply pricing too low just to get the sale quickly.

"Can I save money by selling my home myself?" Initially the idea of not having to pay a commission to an agent may be tempting to some sellers. However, those considering selling their home themselves should be aware of exactly what's involved and make sure they have what it takes to follow through with every step. The majority of homeowners choose to let a professional real estate agent handle all the legwork and paperwork for them- as well as any potential problems that may arise in even the seemingly simplest of transactions. In addition, by listing with a Realtor, homeowners have access to the Multiple Listing Service, the marketing tool that accounts for the majority of home sales.

"Does choosing the right agent really make a difference?" Contrary to conventional wisdom, all Realtors are not created equal. The key to choosing the right agent is to find someone whose personal style and methods fit in with your own. Start by getting referrals from friends or contacting local agents and setting up interviews. Never go blindly with a referral. What works for your friend may not work for you.

"How can I find the right Realtor?" Take time to interview each potential agent. Look at the professionalism of his or her marketing materials and get a feel for how comfortable you feel talking with this person. Don't be afraid to ask for references. You should feel confident that the agent you choose is a trustworthy and knowledgeable individual, working fulltime and representing a solid and reputable agency, who will treat your best interests as paramount. If you don't, look for someone else.

"What do I need to do to prepare my home for sale?" To maximize your home's appeal to potential buyers, you may need to be willing to make some minor cosmetic changes or repair major problems. Ask your Realtor for a complete list of cleaning and makeover strategies, as well as other details which can add to the curb appeal and ultimately may make your home worthy of a higher price. seller accountable for home defects even if the seller wasn't aware of the problem. Sellers should consider going above and beyond the law's requirements for home inspections and disclosure. This will make buyers more comfortable about buying your home and, in some cases, even paying more for it.

This information and more is included in a special report titled "29 Essential Tips That Get Homes Sold Fast (And For Top Dollar)." The report was created for consumers needing information to make the best decisions regarding their home sales. It's available free as a community service to anyone considering selling a home.

To receive a free copy, please visit the website at www.ReubenBrentwood.com or e-mail your request to rbrentwood@sbcglobal.net. Reuben Brentwood can be contacted at the Troop Real Estate office, 484 E. Los Angeles Ave., (805) 529-2100, ext. 408.

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