Selling

March 27 2023

Donating and Decluttering Before A Move

The process of decluttering doesn’t have to be complicated. Start by making time to sort through your belongings before the move. The more time you have, the better, as it allows you to put more thought into decluttering decisions. Next, create a plan on how to tackle the chore. Popular methods are to go room-by-room or by category.

For more tips on donating and decluttering during a move, please see the accompanying resource.

Infographic created by Big League Movers, a provider of same day moving services.

Contact my office at any time for land for sale in Snohomish County or all commercial real estate for sale.

November 29 2022

Cash Buyers-Challenges

Ellen Bruya Selling

Cash Buyers-Challenges – When you think of the term cash buyer you probably don’t think of any potential challenges because why would someone turn down a cash offer? Most home sellers want to sell their homes as fast as possible. Despite what you might believe, there may be a unique set of challenges for all cash buyers.

Cash Buyers-Challenges

Home Sale Price

Typically all-cash buyers ask lower than the listed sale price and do this because they are offering all cash. This can be challenging for cash buyers because they may come up against a seller who does not want to lower their price. As a cash buyer, you want to assess a property’s value and make sure you aren’t submitting a lowball offer that could be offensive to the seller. That doesn’t mean you can’t submit an offer lower than the listed price but make sure it is a fair offer.

Ownership

Cash buyers usually want to close on a deal quickly. This is difficult sometimes because there could be owner disputes. Disputes of ownership can delay the payment. This challenge needs to be resolved by sellers and should be resolved before they list a home for sale. You want all potential issues that can arise on the seller’s side to be taken care of beforehand.

Deal Falling Through

As with any real estate deal, it can fall through. Cash buyers do not need a loan or any financial approval to purchase a home. Sellers love this because there is no loan contingency, which is a common reason a home sale falls through. Even so, a deal can still fall through with a cash buyer if they decide there is an issue with the home that changes their interest or they have a change in finances.

Location

If you are hoping for a cash buyer, then you hope you are in a desirable location. You cannot change the location of your home but you can carefully consider your home offers and if you have multiple cash buyers try to select one that desires your home and the location of your home.

Choosing The Wrong Buyer

This is where you need to have a trusted and knowledgeable real estate agent who helps guide you and give you all the information they can. Then you can make the best decision for the sale of your home. Cash buyers can come in with low offers and you do not want to be persuaded to sell your home for lower than what you asked for. There are a lot of reasons sellers choose to depart with a home and the sale price can make a big difference in someone’s financial situation.

In Conclusion

For many reasons being a cash buyer or selecting a cash buyer offer is extremely beneficial but that doesn’t mean you should disregard potential challenges. Selling and buying real estate always has challenges along the way and every situation and contract is different. This is why you need an agent who provides your contract with great attention. For more information on the home buying or selling process, contact us, we would love to provide you with our expert services.

For more information on the Cash Buyers-Challenges and to sell your home in Snohomish, contact us!

More Advice for Homeowners

September 19 2022

How To Determine Home Value

Ellen Bruya Selling

How To Determine Home Value – A house is worth whatever someone will pay for it. The long answer depends on the market and whether you’re asking a lender, an agent, or a county tax assessor. Knowing how to calculate your home’s value with the help of online tools and trained professionals better prepares you to buy, sell, refinance, tap into your home’s equity or even negotiate lower property taxes.

How To Determine Home Value

Using online valuation tools

You can use public records like property transfers, deeds of ownership, and tax assessments along with some mathematical modeling, these tools try to predict your home’s value based on recent sales and listing prices in the area.

Get a comparative market analysis

When you’re ready to dive deeper into your home value, you can ask a local real estate agent for a comparative market analysis or CMA. Though not as detailed as a professional appraisal, a CMA provides an agent’s evaluation of the home and market to provide an estimate of value, typically for listing purposes. Local real estate agents may provide a CMA for little or no cost, but be aware: They may do so with hopes of being hired as your selling agent.

Hire a professional appraiser

Lenders require a home appraisal before they’ll approve a mortgage, but as a property owner, you can hire an appraiser to estimate the home value at any time. Most U.S. homeowners determined their home’s value through an appraisal, according to the survey.

Among other things, appraisers evaluate:

Market: The region, city and neighborhood in which a home is located.
Property: Characteristics of the house, including improvements and the land it sits on.
Comparable properties: Sales, listings, vacancies, cost, depreciation and other factors for similar houses in the same market.

This information is combined to create a final opinion of value for the home and delivered in an official report.

Evaluate comparable properties

Pulling comps is one way to determine market value without paying an appraiser, but use good judgment. To choose accurate comps, you must employ an apples-to-apples approach. Think about which properties would interest a buyer if yours weren’t available. Look for similar sizes, locations, conditions, and upgrades.

Once you’ve chosen comparable properties, things get a little tricky. You’ll need to adjust for differences between your house and the comps, such as adding value to the comp price if it has more bedrooms than your house or subtracting value if its interior is outdated, for example. How much you add or subtract depends on conditions in your market, which can vary widely. After adjusting values, look at your highest and lowest comps. A rough estimate of your home value is somewhere in the middle.

Why home value is important

Knowing your home’s value allows you to evaluate what you can afford, determine whether a listing is priced appropriately, and decide how to price your own home.

For more information on your How To Determine Home Value or how to assess the value of a property you are interested in, contact us!

More Valuable Advice for Homeowners Looking to Sell

August 16 2022

9 Simple Tips to the Home Selling Process

Ellen Bruya Selling

9 Simple Tips to the Home Selling Process – The home selling process is the same whether it’s for sale by the owner or you’re hiring a listing agent. Certain details can vary a little from state to state, but this checklist can serve as a general guide. Just be sure to confer with a local professional for details on specific requirements in your state.

9 Simple Tips to the Home Selling Process

1. Choose a Listing Agent

A listing agent represents you and has a fiduciary responsibility to look out for your best interests. Interview agents and meet with at least three of them as you make a decision. Try to hire based on experience. Ask questions about your listing agreement, including the length of time the home will be listed and the commission you will pay for the agent’s services.

2. Find Out How Much Your Home Is Worth

A seller’s greatest mistake is often overpricing her home. Keep your price in line with sold homes that have been identified in a comparative market analysis report. Consider whether your market is hot, cold, or neutral, and price the home accordingly.

3. Get Your Home Ready for Sale

Prepare your home for sale by cleaning and decluttering it and improving curb appeal. You might want to consider hiring a professional stager to stage your home for showings or ask your real estate agent for help or ideas. You can often use your furniture. If you’re selling a home with pets, you might want to make temporary living arrangements while you show the house.

4. Market Your Home

You or your agent should identify the selling points of your home and choose the best advertising words to convey them. Approve your agent’s marketing campaign or figure out how to advertise your house for sale yourself. You should also confirm that your listing is posted online.

5. Show Your Home

You’ll get more showings if you let agents use a lockbox or keypad to show your home rather than force them to make appointments. If you are opting for appointments, try to be flexible. Some buyers will want to see the home on weeknights and all across the weekend. Be as accommodating as possible.

6. Receive Purchase Offers and Negotiate

Be prepared to receive multiple offers if your home is priced right. Don’t ignore any offers, even if it seems too low. Negotiate by making a counteroffer. Consider making a counteroffer that’s contingent on you buying a home if market conditions warrant it.

7. Open Escrow and Order Title

Your agent or transaction coordinator will open escrow and order a title policy for you. Write down the contact information for the closing agent, and select a date to close based on when the buyer’s loan will fund. Don’t forget to ask for a receipt for the buyer’s earnest money deposit and option fee, if they’ve paid one.

8. Schedule an Appraisal

Clean the house the day before the appraiser arrives. If you receive a low appraisal, ask your agent about alternatives. You’re typically not entitled to receive a copy of the appraisal because you didn’t pay for it. If the buyer decides to cancel the contract based on an appraisal, ask your agent or lawyer about your rights. They’ll need an appraisal contingency in the contract to pull out.6

9. Cooperate With the Home Inspection

Now get ready for the home inspector. Ask your agent to provide you with a home inspection checklist, so you’ll know in advance what the inspector will want to see. Prepare the attic and basement for inspection, too. Move stuff away from the walls in the garage, and make sure there’s a clear path for the inspector to get through.

For more information about the home selling or buying process, contact our office!