Where do you start?

Pricing your Home

This is very important! If you set your price too high, your home may sit on the market. If it is too low, you risk losing yourself thousands of dollars. While anyone can run the numbers for you, the real magic begins when you pair those numbers with the real-world context. That is what we are here to help you do with our comparable market analysis to research the competition.

Getting Your Home Ready for Sale

You probably have heard repeatedly that upgrading your home with new flooring, cabinetry,  doors, counters, and other amenities will almost always assure a maximum asking price when it is time to sell. However, sometimes finances, time frames, and other circumstances prevent making these upgrades.

If you are in a situation, consider taking smaller steps to boost your home’s “curb appeal.” According to industry experts, doing so may mean selling it ten to fifteen times faster. Tackle the easier tasks if you are up to it, and think about hiring professionals for the bigger jobs such as landscaping and painting.

Here are a few suggestions to get you started.

Negotiating the Sale

As home sellers, we all want the very first offer to be one we cannot refuse. However, this is rarely the case. Most home sales require negotiating before an acceptable agreement is reached. This process can be difficult to navigate on your own, but with the help of Rhodeway Realty, Inc. you will be able to negotiate an offer with ease and confidence.

Choosing the best offer

When an offer is received, you are not required to reply immediately. If you are not certain the terms and price meet your needs, it is okay to take some extra time to review the offer, but make sure to consult with your agent about the time you have to respond to an offer.

Moving Forward With an Offer

Once an offer is received, you can reject, accept, or make a counteroffer. A counteroffer is the response you give to an offer asking for modifications; it also is when negotiations begin.

The offer should include

01   The amount of the down payment
02   The date closing will take place
03   The total price

Always review the offer to see if the buyer has included items of personal property, such as a refrigerator or a washer and dryer. Make sure if you do not want those items to be included that you exclude them in a counteroffer.

Most buyers will submit offers on a California form residential purchase agreement. This agreement includes, among other things, contingencies which will permit the buyer to cancel without penalty if the inspection of the property uncovers major problems or if they fail to obtain financing.

There could be several counteroffers, so be prepared to continue the negotiations.

Transaction Management

Congratulations! At this point, you have officially accepted an offer. Although, you are in the final stretch, there are a couple more things to mark off your to-do list before your home is officially sold.

The first thing to do is open escrow. Escrow is an arrangement with a neutral third party who holds the legal documentation and funds on behalf of both the buyer and the seller. The escrow agent and real estate agent work together to ensure all conditions are in compliance. This period of time is where the buyer is given the opportunity to complete their due diligence.

Next, the buyer may hire a licensed home-inspector to review the physical condition of the home. Based on the inspection, the buyer could ask you to make repairs on the property which you can disagree or agree to perform. Once all the investigations and inspections are performed, the seller can request that the buyer remove the inspection contingencies.

If the buyer is obtaining financing, the final contingencies that may remain are the appraisal and loan. Once the appraisal is complete and the buyer receives the loan, the parties can prepare to close escrow.

Several days before escrow is to close, the buyer will conduct a final walk through to ensure the property is in the same condition as it was when the offer was accepted. This is not an inspection, but just a review of the property.

Finally, the escrow process is funded, closed, and the keys to the property are turned over to the buyer.