The Home Selling Myth!
The following categories make up a partial list of cost you will encounter when it comes time to sell your home. Costs will always be a part of your selling effort. The real trick is to keep these costs down as low as possible in order to capture your greatest dollar return. Some sellers assume that by eliminating the real estate commission they will save big money. The fact is, in most cases they are losing money when the big picture is analyzed. Only zeroing in on the real estate commission is a mistake. Energy and focus by you should be on the bottom line dollar – the money you put into your pocket when you walk away from the closing table.
- Title Insurance
- Real Estate commission
- Home Inspections
When considering Financing we relate that to the buyers’ side of the buying picture but keep in mind that different loan programs affect the sellers’ bottom line dollar return. The Home Inspection is normally the buyers’ cost and responsibility but timing the inspection and controlling who conducts the inspection is critical! Can the seller dictate the when and who when it comes to the inspection? What about the appraisal? Final appraisal values can differ greatly. Can the seller define who conducts the appraisal and can the seller defend his selling value? When do you want to review and get the Title Insurance going? Are there any special tax considerations to note? When considering the issue of security, please be careful. As a seller is my home and family protected from the crazies out there and what would happen if my selling efforts result in a law suite?
FSBO programs being offered led one to believe they will guide and assist the home seller in all aspects of selling a home. That simply is not true. Being given a set of signs and some forms is not a good definition of assisting the home seller in all aspects. If you’re tempted to consider using a FSBO program, be vary clear as to what this program will do for you and what representation of your interest are they assuming? What would happen if you were sued and what part would they play? Being there are crazies out there, how will they screen buyers? The true professional, will posses the ability and knowledge to help you understand all those cost categories listed above and manage them in such a way as to give you your greatest bottom line dollar return when you walk away from the closing table. The true professional will go to great lengths to ensure that the potential buyer is both legitimate and capable. The true professional is in the position to buffer you from law suits that result from errors, emissions and knowingly or unknowingly misrepresentation.
There are costs associated to selling a home. The trick is to manage these costs in such a way as to afford you the greatest bottom line dollar return when you walk away from the closing table. There are multiple areas of consideration to be viewed and understood when it comes time to sell the family home. Teaming up with a true experienced, professional will help you understand and manage your costs in such a way as to maximize your in pocket dollar return when you walk away from the closing table.
CRS, GRI, e-PRO