The Phoenix real estate has been challenging for most sellers recently. With interest rates at the highest point in 8 years, buyers are seeing high mortgage payments and don’t want a lot of extra costs when they move into their new home. As you look to list and sell your home, there are a few options that can leave you with more money or less money at the close of escrow. Here are a few business basics to protect you when you look to sell:
- Presentation - Most buyers are picking homes to see on the weekend from a variety of websites such as Zillow, Realtor.com, Trulia, Redfin and more. Buyers are also using a variety of devices like smart phones, tablets, laptops and desktop computers. Buyers pick out 6-8 homes to see on Saturday after reviewing 50-100 homes more online. The point is that If your online presentation is not good enough to make the short list, buyers will not be seeing your home on Saturday. So, what is the plan to make the short list for viewing on Saturday?
- Buyer Qualifications - The purchase offer had a great price, but the lender is unable to document the buyer’s down payment. After 30 days, when the home does not close on time, the lender breaks the bad news to the buyer, seller and agents. Agents should be reviewing buyer qualifications with the lender prior to contract acceptance and should have a plan to get updates throughout the escrow period. Without that plan, your home may not be closing on time, if at all.
- Negotiating Offers – What happens when you wait 3 months and only see 1 offer? If you want to move, then you will want to find every way to keep that buyer and get the home closed. You may have heard, “The Devil is in the details.” That is always the case when a seller depends on that one offer to get the home sold! Great agents are great negotiators and realize that there is always more than one way to make the transaction close. Does that buyer really need a new A/C unit or new roof? Or does the buyer need “peace of mind” that the home will not fall apart after the close of escrow. There are many solutions of “peace of mind.” Agents that are great negotiators will know those solutions may make you more than you pay in commissions!
- Follow-up Plan - After you have your home sold, what are the next steps to closing escrow? Details, details, details! Remember, while you are packing the boxes for the moving truck, the buyer still needs to complete inspections, loan paperwork and title work. Lenders require more documentation than ever before. So, if you are going to be moving on time, there needs to be a plan to get all of this done. A good plan not only keeps you, the seller, informed, but also keeps the buyer on track for an on-time closing.
Do you want to learn more about ways to sell for the best price? Contact us at (602) 753-0177 or www.MyAZHouse.com
