Ten Steps to Selling Your Property

Define Your Needs. Write down all the reasons for selling your home. Ask yourself, "Why do I want to sell and what do I expect to accomplish with the sale?" For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. Work with Lisa to map out the best path to achieve your objectives and set a realistic time frame for the sale.

Name Your Price. Your next objective should be to determine a selling price that aligns with your goals. Setting a fair asking price from the outset will generate the most activity. Consider your home's condition, location, and the overall Austin market.  It's often difficult to remain unbiased when putting a price on your home, so Lisa will do a market analysis for you.  If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars. Remember, you're better off setting a fair market value price than setting your price too high. If your home sits on the market for too long, potential buyers often think there is something wrong with the property.

Prepare your Home. Most of us don't keep our homes in "showroom" condition. We tend to overlook piles in the garage, broken porch lights, and windows that stick. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important factor when a potential buyer comes to view your property. Lisa can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers. A personalized home is more difficult to sell because potential buyers cannot imagine themselves in your space. Removing family photos, mementos and personalized décor will help buyers visualize the home as their own. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem spacious.

Spread the Word. Now that you're ready to sell, Lisa will set up a marketing strategy specifically for your home. There are many ways to get the word out, including the Internet, yard signs, open houses, media advertising, agent-to-agent referrals, home tours, and the MLS.  Lisa will ensure that your home is marketed on over 50 websites for maximum exposure.

Receive an Offer. When you receive a written offer from a potential buyer, Lisa will first find out whether or not the individual is pre-qualified to buy your home. If so, you will review the proposed contract, taking care to understand what is required of both parties to execute the transaction.

Review the Details. The contract, though not limited to this list, should include a legal description of the property, an offer price, the down payment amount, financing arrangements, a list of fees and who will pay them, their deposit amount, inspection rights, repair allowances, items that will convey [stay] with the home, the settlement date, and contingencies.  At the point of offer, you have three options: 1) accept the contract as is, 2) accept it with changes (a counteroffer), or 3) reject it.

Negotiate to Sell. Most offers to purchase your home will require some negotiating to come to a win-win agreement.  Lisa will help you focus on the negotiable items such as price, financing, closing costs, repairs, appliances, landscaping, painting, and move-in date. Once both parties have agreed on the terms of the sale, Lisa will prepare a contract.

Prepare for The Closing. Once you accept an offer to sell your house, many things must happen before closing. The property may need to be formally appraised, surveyed, inspected or repaired. Lisa can spearhead the effort and serve as your advocate when dealing with the buyer's agent and service providers. Depending on the written contract, you may pay for all, some, or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale continues smoothly.

Communicate Regularly. If there are problems with the home, the terms set forth in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing. Important reminder: A few days before the closing, you will want to contact the entity that is closing the transaction and make sure the necessary documents will be ready to sign on the appropriate date. Also, begin to make arrangements for your upcoming move if you have not done so.

Close the Deal. It's your big day.  "Closing" refers to the meeting where ownership of the property is legally transferred to the buyer. Lisa will be present during the closing to guide you through the process and make sure everything goes as planned. By being present during the closing, Lisa can mediate any last-minute issues that arise. Remember to cancel electricity, gas, lawn care, cable and other routine services at your old house.  If the new owner is retaining any of the services, change the name on the account. It's also a nice gesture to gather owner's manuals and warranties for all conveying appliances.  Congratulations!

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