This home seller’s guide will show you how to sell your house fast in Sarasota. It will cover pricing your house, preparing your home for the market, finding the right real estate agent, the importance of a home inspection, and even how to sell your own home. If you are considering selling your home, you will find this information a valuable part of your home selling process. If you are wondering what your home is worth in today’s Sarasota real estate market, call Ursini & Company at 941-812-4894 or use our Home Evaluation Calculator. Your results will be sent to you in 15 seconds.
Know the Sarasota Real Estate Market and Trends
The Sarasota real estate market is constantly changing, so it is a good idea to educate yourself on the current market conditions. Information on average sold prices, the average days on the market, and whether it is a buyer’s or a seller’s market will all come into play when selling your home in Sarasota. While the average sold price for single family homes is $353,000, it does not mean there will not be variances in the months ahead. Update yourself on the current market conditions with our monthly Sarasota Real Estate Market Reports.
How to Price Your Home Correctly
Every property has the potential to sell quickly, and along with effective marketing, the price is the #1 factor. If your real estate agent is not honest about the pricing of your property, they are doing you a disservice. How so? Because a home that is priced too high will accumulate days on the market, and in the end, it will negatively affect the value of your home. The plain and simple truth is, no amount of marketing will sell an overpriced property. When determining your home’s value, your real estate agent will research past sales, active listings, withdrawn and expired listings. All are important in determining the target price for listing your home. Having an understanding of the true market value of your home is the first step in pricing your property correctly.
Sold listings are the best measure of your home’s fair market value. Knowing what recently sold is the best way to become an informed seller and gives you a sense of your homes market value.
Active listings demonstrate the current supply on the market. This is your competition. When listing your home, you need to stand out from your competition. Proper home preparation, along with strategic pricing and effective marketing, increases the opportunity for your home selling quickly for the best possible price. Getting your house ready for the market can seem like an overwhelming task, but Ursini & Company is here to help make things simple. To give your home the wow factor, follow the suggestions on my Preparing Your House for Sale Checklist.
Withdrawn and expired listings demonstrate over-priced listings. It is important to note that the first two weeks on the market are the most important because it is when the home will attract the most buyers. If it is overpriced, you will lose a large pool of what might have been interested parties. You have one chance to make a first impression. Make it a good one.
The Rule of Thumb When Searching for Comparable Properties
When searching for comparable properties, there are guidelines that you should follow.
- Find currently active properties as well as sold comps that closed within the past three months. If you can not find enough comparable sales, then increase your search to six months.
- When searching for comparables, find property sale prices within 1/4 mile to 1/2 mile
ofyour home. If comps are limited, you can expand the search to one mile.
- Do not cross any major streets or highways to find comps.
- Use comps that are of similar square footage. They should be within 10% (larger or smaller) than your homes square footage.
- Use homes of similar age by selecting sold properties that are 10 years older or newer than your home.
How to Research Sold Listings
The below bullet points are the best way to search for sold listings to measure your home’s value.
- Research sold home prices in your neighborhood.
- Compare the list to sold price ratio of each sold comp.
- Check to see if the comparable properties had any price reductions.
- Adjust real estate sale prices for features such as a private pool, view, amenities, upgrades, etc.
How to Research Withdrawn and Expired Listings
Sellers withdraw homes from the market for various reasons, but this may be an indication that the home may have been overpriced for the current market. Follow these tips when researching withdrawn or expired listings.
- Expired or withdrawn listings are an indication that the home may have been overpriced.
- Contact the listing agent to find out why they feel the home did not sell.
- Determine if it was listed by a discount broker. With a discounted commission, the money advocated towards marketing is typically less. As previously mentioned, if you want to sell your home quickly for the most money, pricing and marketing are the two most important factors.
How to Research Pending Sales
A pending sale means the buyer has accepted an offer and the home is now considered under contract. By following the tips below, pending sales can be helpful in determining the pricing strategy for your home.
- Pending properties do not provide you with information on the accepted price on the home.This information becomes public information once the property closes. To learn more about the accepted price, call the listing agent. More than likely, they will not disclose this information but they may provide insight on whether or not the accepted offer was close to the asking price.
- Take note of the number of days to contract.
- Investigate the property’s price drop history.
How to Research Active Listings
No one can determine what an active listing will sell for, therefore active listings do not play a part in determining your home’s value. In short, they are your competition, and you always want to outdo your competition.
- Look at photos, visit open houses, or actually tour active listings. If something stands out with your competition, try to apply the same idea to your home.
- To ensure your home stands out from the competition, follow these valuable tips on 10 Easy Ways to Add Value to Your Home.
- Understand the positives and negatives of your home and price it accordingly.
What is My Home Worth?
To determine an estimated value of your home, try a home value calculator. Within seconds you will receive an instant estimate of your property’s value. This evaluation is an estimate only using the internet to gather local real estate listing and sales data. Each home has its unique features so no one can truly estimate the value of your house without coming out to see it. For a more accurate market evaluation, have an in-house review by a professional real estate agent.
How To Prepare Your House for the Market
To get top dollar for your home, it will need to be in tip-top shape. There are small and easy things you can do to impress buyers. Follow these tricks of the trade for getting your home ready to sell, but look out, you may end up selling it for more money and faster than you expected.
- A freshly painted exterior.
- Replace rotted wood.
- Remove dead plants and weeds.
- Add a nice welcome mat.
- Wash your windows inside and out.
- Pressure wash the house, sidewalk, and driveway.
- Keep paint colors neutral.
- Add potted plants. Water regularly!
- If necessary, add furniture that accentuates the yard.
As with the exterior, you only have one chance to make a good first impression, and this should happen as soon as a buyer walks through the front door. You have about 15 seconds to accomplish this. It’s a very short window, but this is all a buyer needs to make the decision if the home is meant for them. The home’s entrance should create an inviting ambiance that lures the buyer in and makes them feel at home. Opt for relaxing paint colors, fresh cut flowers, and a chandelier that provides adequate light, yet decor means nothing if they walk into a dirty entryway. Make sure the foyer is sparkling clean, remove clutter such as books or shoes and depersonalize. The entire home should be sparkling clean and each room should have a purpose.
Consider what small changes you can make to update the kitchen. A full kitchen renovation when selling a home is not worth the investment. Paint cabinets, change out hardware and update hinges and fixtures. Like the rest of the home, your kitchen should be light and bright.
A bedroom should resemble a bedroom not a partial playroom, craft room or office. A bedroom should feel relaxing so remove clutter, depersonalize, organize the closets, and invest in new bedding if needed. Make sure the bed is made and the room is cleaned and organized for every
Create a spa-like feel in your bathrooms by painting walls in a soothing, neutral color, update fixtures and lights, declutter the countertops and organize the cabinets. For showings hang luxurious towels, hide trash cans and toilet brushes, and keep the toilet lids closed.
Each home is unique, so what works for one home may not necessarily be the case for all homes. If you are struggling with where to focus your attention, but want to sell fast, then contact Gina Ursini at the Ursini & Company Team. Her “Tips for Selling Your Home” is something she offers to each and every seller of hers.
How to Prepare Your Home for Showings
Every homeowner wants top dollar for their home, and getting their wish does not happen by accident. There are steps that need to be taken to accomplish this. The end result will be a marketable home that stands out from the competition. Once you’ve physically prepared your home for the market, the next step is showing your home to potential buyers. A seller’s number one goal to showing a home is to emotionally capture a buyer as soon as they enter. Buyers should walk in and see it as their home, and not someone else’s home. So, how can you accomplish this? For the ultimate buying experience, follow our home selling tips on how to prepare your home for showings.
Tips for Showing Your House
- Don’t tag your home as difficult to show. Be open to last-minute showings and do not require your listing agent to be present.
- Store away all valuable items such as jewelry or medications.
- Do not require buyers to take off their shoes. There are some buyers that may find this insulting.
- Keep your home at a comfortable temperature. Not too hot or not too cold.
- Leave a plate of fresh baked cookies on the kitchen counter or a bowl of candies at the front door.
- Turn on soft classical or jazz music.
- Turn on all the lights.
- Open the windows if the weather permits. If open windows create traffic noise, keep them closed.
- If you have a fireplace, turn that on as well, even if it is summer.
- If you have a water fountain, turn it on.
- Open up all blinds and curtains so your home looks light and bright.
- Vacuum your carpets and do not walk on them prior to your showing.
- Remove your pets and put away all pet toys and belongings.
- Do not use strong candles or air fresheners. Some buyers may be allergic to them.
- Display a vase of fresh cut flowers.
- Leave your home for all showings. Buyers do not feel comfortable discussing a home in front of the sellers
- Put away all toys, clothes, pots, and pans, etc. Your home should show like a model home.
What Paint Colors Help Sell Your House Fast?
One of the most budget-friendly ways to update a room is through the use of paint. But with a multitude of colors to choose from, deciding on a paint color can be a difficult task. When it comes to selecting paint colors that sell houses, take your personal opinion out of it and concentrate on what potential buyers like. In a modern setting, a bright red accent wall may add just the right touch, yet would not be suited for a coastal contemporary home. So how do you choose paint colors when selling a home? There are several ways to go about this.
First, research recently sold properties in your market that sold within a short period of time. Take note of the common color scheme, and mimic this color pallet in your home. If you lack the confidence to accomplish this on your own, you can hire the services of a professional home stager. For a consultation fee of approximately $150 – $400, a home stager will assess your home
When selecting paint finishes, use a finish that best compliments the area you are painting. Gloss finishes look great on trims and moldings but when used on a wall, it can show every little imperfection. There are quality, washable matte finishes that are better suited for walls.
Exterior Paint Color Suggestions
When selecting exterior paint colors, take your personality out of it and choose colors that will add value to your home as well as attract the widest pool of buyers. Choose neutral colors that provide a warm and inviting feel. Coordinate the paint color of your house with the roof and landscape. A touch of bold will work on a front door but only about 8% of buyers like bold colors, so avoid using it on the body of the house. If you are not currently selling your home, but plan to in the future, then your paint color selections are just as important.
Interior Paint Color Suggestions
As with the home’s exterior, your home interior should be light and
Best Paint Colors to Sell Your House Fast
Paint colors trends come and go but in today’s design world we are seeing the following trends in neutral paint colors. These are great options to select from when deciding on paint colors for both the exterior and exterior of your home.
Taupe: Considered a cool neutral color, taupe can be gorgeous in any space and works especially well in rooms that lack natural light. Use it in a large room with high ceilings and white trim or in a bedroom with luxurious bedding and white pillows. Taupes come in a variety of undertones, so this is where taupe can become tricky. Before committing to a color, try a test swatch on the walls first.
Soft Blue: This sophisticated color works great in a spa-like bathroom, a bedroom, or in a contemporary living room. It will also work great as an exterior color on Coastal or Victorian style homes. Pair soft blues with off-white and muted pastels, and you will create a look that will wow buyers.
Gray: Neutral in tone, this color is one of the most popular colors amongst buyers. It works perfectly for both the interior and exterior. According to Zillow, a home painted in greige (a gray-beige) sells for approximately $1500 more than a white home. For an attractive soft gray-beige color try Sherwin Williams Sand Bar, SW 7547.
White: Whites come in many different shades and can be a timeless choice for home buyers. Stark white will compliment a modern interior perfectly, especially when used against pops of color in the artwork or furniture. For a softer white on the walls, use Sherwin Williams Origami White, SW 7636. This color trim looks beautiful against Sherwin Williams Sand Bar walls.
Why Professional Photos Matter
When it comes to purchasing a home, over 98% of home buyers start their search on the internet, which means you have less than 10 seconds to grab their attention, or they are off looking at the next property. Picture yourself as a buyer browsing through home photos. Which one captures your attention and prompts you to view more? The well-organized, clutter-free, sunny home, with fresh flowers and crisp bedding or the photos of a dark cluttered space, unmade beds, and dishes in the sink. I think we all know the correct answer!
Great photos are key to getting buyers to take the next step in personally viewing the home. The website is your best friend, so your online photos should capture all that the home has to offer. Outstanding features such as beautiful kitchens, extraordinary tile designs, architectural beams, attractive pools, and manicured gardens should be showcased in your photos. Furthermore, buyers do not like dark homes so photos should be taken on a sunny day with all the curtains and blinds pulled back.
Photos are the first impression
As an added feature to your listing, include a Matterport 3D tour, which shows your property in fully immersive 3D, so viewers feel like they are in the home. Try out a 3D home tour virtual experience below.
How to Sell A House That Needs Work
Your home is in need of some major tender loving care, yet you want to sell it fast for the best possible price. You’re wondering, who is going to buy a home that needs a new roof, new floors, a new kitchen, and a long list of minor repairs? It is easy to feel a bit overwhelmed considering the financial investment, time, and labor needed to make your home stand out from the competition. Let’s face it, not everyone has the time or money to invest in a
When it comes to selling a fixer upper, it is not about perfection, it is about focusing on the features. If you have deferred maintenance
When it comes to selling a fixer upper, it is not about selling the finishes. It’s about getting buyers to see beyond the properties short-comings and selling features such as the neighborhood or the floor plan. As long as there are no structural issues, you are in great shape.
What Type of Buyer Should I Expect to Get for My Fixer Upper?
Not every buyer is looking to purchase a home that needs work, so who is going to buy a
One of your greatest pool of buyers will be investors looking for houses to flip or to hold onto as a rental property. Investors are seeking good opportunities which will provide them a profit, whether it be
The Home Remodeler
This type of buyer is looking to remodel the home for themselves or to rent out. For home buyers looking to occupy the home, this is the perfect opportunity
The Owner Occupant
This type of buyer is looking for an opportunity to live within a desirable community that would otherwise be out of their means. They may not have the money to put into renovations, but the locations outweigh the fact that it needs some work. They are willing to purchase the home and overtime add improvements or updates.
How to Advertise a Fixer Upper
When marketing your home your Realtor should promote the idea of buyers using an FHA 203 K Rehab loan to purchase the property. Not every buyer is aware of these loans, and seeing it in the public remarks will prompt them to ask their realtor for more information on this type of loan. What once may have been a non-consideration is no longer crossed off their list.
An example of how to advertise a fixer uppers features and spread the word about the FHA Renovation Loans might include a description such as: “Fabulous fixer upper on 2.25 acres in DeSoto Acres. Home to one of the greatest trapeze artists for the Ringling Circus. 4 bed, 6
[Further Reading: Remodeling: Where to Spend Your Money]
Selling Your House “AS IS”
When selling your house you have the option of selling the home “as is”. This means that the buyer has the right to an inspection but the seller will not be obligated to put money out for any repairs. An “as is” contract has advantages specific to both the buyer and the seller. For the seller, they do not have to worry about coming up with additional money to repair items of concern that result from a home inspection. On the other hand, the buyer has the right to back out of the contract prior to the inspection deadline if they find items in the report that are of concern to them. If the buyer notifies the seller in writing prior to the inspection deadline, then their escrow deposit will be returned in full. [Further Reading: Florida Real Estate Terms and Definitions]
Which 2 Rooms Sell a House?
When you put your house on the market, there are two rooms that sell a house. These are the focal points of the home that you should put your attention on first. These rooms will weigh heavy on the decision of buyers. They are the rooms to which you can add value so they need to look their best. The two rooms that sell a house are the kitchen and the master bathroom.
An attractive kitchen will attract buyers and increase value. Although a major overhaul is not recommended, sprucing up the kitchen is. Before beginning updates, consider your neighborhood. If the homes in your community are using standard features such as Formica countertops, then you should too. If your community uses Quartz countertops, then if your budget allows it, you should too. This is what local buyers will expect to see.
If your goal is to sell your home fast, then do what you must to make your kitchen appealing to buyers. Paint or resurface the cabinets, replace the countertops, update the appliances, change the cabinet hardware, update the light fixtures, and paint the room
Making small changes or updates to a bathroom, especially the master bath, will grab a buyers attention. Changes such as new mirrors, updated light fixtures, new sink, new shower fixtures, or fresh paint goes a long way with buyers. As with every other room, make sure it is clean and clutter-free.
Remove toiletries from the countertops and organize underneath the cabinets. A bathroom upgrade can range from one day to one week, but making your space look as fantastic as possible is well worth the effort.
Why Won’t My House Sell?
When selling a home there are things that hurt the sale of your home which you can control, and there are things out of your control. If your home is not selling, there are a number of reasons it may be accumulating days on the market. To help determine what might be the contributing factor, your listing agent can request feedback from the buyer’s agent. If you are finding that comments are consistent then this is most likely the reason your home is sitting on the market.
Overpriced: Buyers determine market value and most often this will be the reason your home won’t sell. When preparing your home for the market, pricing it correctly is one of the most important factors to consider. Most activity on a home will occur within the first 30 days. If priced correctly, the percentage of potential buyers that will look at your home is approximately 60%. Pricing your home 10% above market value drops the percentage of potential buyers to 30%. Pricing at 15% over market value drops the percentage of potential buyers to 10%.
High Competition: If you are receiving comments that the buyers decided on another home, take another look at your competition. Does your home stand out from the competition? Is it priced competitively? Can they purchase new home construction at the same price
Needs Updating: When selling a home it is best not to invest in major renovations, but there are small things you can do to address buyers concerns about the home needing updating. These little fixes are affordable and will add to the value of your home. They include such things as professionally cleaning the home including mirrors, windows, and appliance, patching holes, painting cabinets, updating hardware and faucets, or cleaning and mowing the yard. For a full list of items you can tackle affordably, click here. Once you have completed the updates, take another look at your competition, and make sure your home is priced competitively.
Smells of Smoke: This is one of the biggest turn-offs for buyers. Within 15 seconds of walking into a home, buyers will make the decision whether or not the home is for them. It is not hard to guess what they will decide when walking into a home that reeks of smoke, and if interested, chances are they will use this against you and submit a low offer. You can deep clean the carpets and the furniture or try to cover it up with deodorizers or air purifiers, but these typically do not work. In most cases, furniture will need to be reupholstered or discarded, carpets replaced, and because nicotine discolors the walls, a fresh coat of paint will do wonders. Not only help to eliminate the smell but freshen up the room too. When done, add some natural air freshners to the room such as Boston Ferns or Fig Trees.
Pet Smells: Although we are a nation of pet lovers, viewing a home that smells of pet odor can be offensive even to pet lovers. There are several things homeowners can do to get rid of pet smells. Watch this “Getting Rid of Dog Smells” video by PetMD to learn more.
Clutter: A room full of clutter will make a house look small. Remove excess accessories, plants or furniture. Less is better when it comes to selling a home.
Marketing: A Real Estate Agent has many duties, and one of them is to get your home in front of as many buyers as possible. When you list your home with a Real Estate Agent, it will be placed on the Multiple Listing Service (MLS) and syndicate out to a large number of other real estate venues. A creative agent will utilize marketing techniques that go above and beyond. Is your home on the MLS? What is your agent doing to market your home?
Below are professional Services Offered by Ursini & Company.
|In Home Consultations||Available 7 Days a Week||YouTube Video Tagged with Your Property Address|
|Professional HD Photography||Superior Contract to Close Managment||Just Listed Postcards|
|3D Home Tours||Complimentary Staging Advice||Property Brochures|
|Single Property Website with custom URL.||Reverse Prospecting||Secure Electronic Lockbox|
|Property Blasts||Ability to Translate Listings in 19 Different Languages||Professional Appointment Center for Showing Requests|
|Adwerx Campaigns||Marketed on Zillow, Trulia, Realtor.com, and Lots More.||Open Houses|
|Facebook Target Ads||Distinctive Yard Signs||Branded Photos|
The Neighborhood: In most cases, you have no control over the neighborhood, but if you are finding that buyers concerns are from a neighboring house, then there may be something you can do, and you will want to because bad neighbors can bring down your home value by almost 10%. Hence, if their yard is overgrown, offer to help mow it, if the fence is down or a window is broken, offer to help fix it. Your thought process should not be “Why should I help them?” but rather “What can I do to sell my home fast?” On a side note, if you have nuisance neighbors, try talking to them fixing the items even before putting your home on the market.
Limited Showing Times: The more restrictions you have, the smaller your pool of buyers. Be open to last-minute showings, do not require your agent to be present, and leave the house for all showings
Traffic Noise: Unfortunately road noise is one of the hardest obstacles to overcome. If the noise is not too bad, you can try adding a fountain. Otherwise, it always boils down to the price and perceived value. You loved the home, or you would not have purchased it. Someone else will come along and love it too.
Poor Photography: The internet is the first place many buyers go to search for homes and photos are the first thing they will see about a property. Quality photos will grab their attention and prompt them to want to view the home in person. Quite the opposite happens with poor photography. After viewing a few photos, if they don’t peak their interest, they move onto the next property.
Because you didn’t hire Ursini & Company! Call us next time at 941-812-4894
What to Bury To Sell a House
If you are Catholic, then you’ve probably been told by a family member to bury a St. Joseph statue to help sell your home fast. This divine intervention by the Patron Saint of Real Estate started hundreds of years ago and is still popular today, with home sellers testifying that it really works. Belief has it that by burying the statue, St. Joseph (husband of Mother Mary) will bless you and help you find a new home, just as he did for his family in Egypt. Instruction for Burying the Saint Joseph Statue
- Purchase a St. Joseph home selling kit. You can purchase online or at a Catholic supply store.
- Bury St. Joesph, the patron saint of selling houses, in your yard or garden. If you do not have a yard, bury him in a flower pot.
- Before burying the St. Joseph statue, wrap him in a protective cloth. For many, this is one of the most important steps because it shows respect for the patron saint of property.
- Bury St. Joseph upside down with his head facing the house. Why bury St. Joseph upside down? Because he will work hard to leave the ground and find a comfortable spot within your home. The actual placement varies depending who you ask. Some say it should be near the for sale sign while others say the statue should face the road, but he is always buried face down. Whichever you decide on, it should be followed by a St.Jospeh prayer.
- Once the house sells, be sure to dig up the statue, bring to your new home, and give it a place of honor. If St. Joseph remains buried, it is believed that your house will sell over and over again.
Prayer to St. Joseph to Sell a House After the burial of St. Joseph, recite the St. Joseph prayer.
O, Saint Joseph, you who taught our Lord the carpenter’s trade, and saw to it that he was always properly housed, hear my earnest plea. I want you to help me now as you helped your foster-child Jesus, and as you have helped many others in the matter of housing. I wish to sell this house quickly, easily, and profitably and I implore you to grant my wish by bringing me a good buyer, one who is eager, compliant, and honest, and by letting nothing impede the rapid conclusion of the sale. Dear Saint Joseph, I know you would do this for me out of the goodness of your heart and in your own good time, but my need is very great now and so I must make you hurry on my behalf. Saint Joseph, I am going to place you in a difficult position with your head in darkness and you will suffer as our Lord suffered, until this house is sold. Then, Saint Joseph, I swear before the cross and God Almighty, that I will redeem you and you will receive my gratitude and a place of honor in my home. Amen.
Novena to St. Joseph to Sell a House
After reciting the prayer for selling a home, for the next nine days, say a novena. A novena is a way of gaining favorable intercession with St. Joseph. Recite the beginning of the prayer daily, followed by the day’s prayer. Say it with true meaning and with the same cause in mind each day.
In the Name of the Father, and of the Son, and of the Holy Spirit. Amen St. Joseph, just and true, with a father’s care you raised the child Jesus, and with a husband’s love, you shared your life with Mary, his mother. I entrust myself to your care and place in your hands this request of mine. In quiet Nazareth, long ago, the Holy Spirit spoke to your heart and you followed God’s will with wonderful faith. In the quiet of my days, and in the hard choices I must make, help me follow the Spirit’s guidance and believe when I cannot see.
Day 1: Oh God, guide of those who listen and helper of those who
Day 2: O God, you love your people and bless the ordinary lives we quietly live. As you blessed St. Joseph, bless what I do,
Day 3: O God, ever faithful, you remember us always and in time reveal your blessings. Help me trust in you, as St. Joseph faithfully trusted, and never let me lose faith in the wonderful gifts you promise me.
Day 4: God of families
Day 5: O God, who loves children, be kind to our children today. Give them eyes of faith for seeing far, a loving heart for welcoming life, and a place always at your side.
Day 6: God of our heavenly home, bless our home on earth. Let the spirit of Mary and Joseph rest at our table, shape our words and actions, and bring blessing to our children.
Day 7: God, our Father, give your fatherly spirit to those who are fathers now. Like Joseph, give them hearts of devoted love for their wives and children and strength for forgiveness and patience.
Day 8: Give shelter, O God, to those who need it, and bring together families divided. Give us enough to eat, and decent work to earn our bread. Care for us, O God.
Day 9: Bless all families, O Lord especially those in need. Remembering the life of your Son, we pray for the poor, for those who lack a good home, for those in exile. Grant them a protector like Joseph, O God.
How Come My House is Still Not Selling After Burying the St. Joseph?
After burying the St. Joseph statue, there is no guarantee your house will sell. It is not a magic formula. If it was, then we would be in control of what God has planned for us. Maybe it is not the right time to sell. Perhaps nobody can afford to buy it due to the current housing market conditions, yet if you drop the price you can’t afford to sell it. Maybe there is a plan for you to rent your home for additional income until the housing market improves. Perhaps He is waiting for the perfect buyer.
Another Way to Sell A House Fast
What is the Average Time to Sell a House in Sarasota
[Updated October 2017] As of October 2017, the median days on the market for
How to Sell Your House Fast on Your Own
A “For Sale by Owner”, also referred to as
Why Would a For Sale By Owner Net Less Profit?
First, real estate agents have access to a number of sites which provide current market data as well as tools to accurately evaluate the current value of your home. A homeowner can easily access market data for active listings, but sold listings are much more difficult to locate. Keep in mind, active listings are not comps, but rather your competition. Once a home sells, it becomes a comp. Sold comps are what you need to determine your selling price. If you list it too low, you are leaving money on the table. On the contrary, if you list it too high, then the home sits on the market. When a home buyer sees a for sale by owner, they immediately expect a great deal. When they find out that it is not, they will move onto other properties.
How to Market a House for Sale by Owner?
If you are selling a home on your own, how will you market your listing? In addition to pricing, marketing is an important factor when selling your home. Marketing will provide maximum exposure and generate a greater pool of buyers, so merely placing a sign in the yard and advertising on Facebook may not be enough to get your house sold. Take a look at these home buyer statistics:
- 92% of buyers begin their home search on the internet
- Only 28% view print ads
These statistics indicate that online exposure is not an option, it is a must if you want to get your home sold fast. Many real estate agents are great at marketing homes for sale. When listing your home with a real estate agent, your home is listed on the Multiple Listing Service (MLS) with exposure to thousands of other agents. In addition, once listed on the MLS, properties are syndicated out to a large number of
Do You Know the Ins and Outs of a Real Estate Contract?
A contract is a binding document and used to protect both the buyer and the seller. When there are conditions that need to be met, within the contract there should be written deadlines for meeting these contingencies. In addition, there are clauses in the contract which if unnoticed, can cost you money. For example, in the Sarasota area it is customary that the buyer select and pay for their own title services and policy, but if the contract states the buyer wants the seller to pay, and you are unaware of what is customary
If you chose to write up the real estate contract on your own, familiarize yourself with our Florida Real Estate terms and definitions and be sure that the contract includes the following information:
- Names of seller(s) as recorded on the deed.
- Name of buyer(s).
- Offer price
- Amount of escrow deposit.
- Name of the title company or attorney handling the transaction.
- Financing terms.
- Description of property.
- Closing date.
- Inspection deadline.
- Agreement from both buyer and seller agreeing to the sale.
- Signatures of both buyer(s) and seller(s).
Should You Sell Your House for Cash?
When selling your home, you may be under the impression that a cash buyer is your best option because you do not need to wait
What if Your Home Appraisal Comes in Low?
If your potential home buyer is financing the home purchase, their lender will require a home appraisal. When listing your home yourself, it is important that you find comparable sold properties which support your list price. If not, you may find that your home will not appraise. If this ends up being the case, there is a chance you will lose your buyers unless you can agree upon one of three options. First, as a seller, you agree to drop the price of the home to the appraised value. Second, the home buyer agrees to come up with cash for the difference between the agreed upon price and appraised value. If both the buyer and the seller can not agree on either of the above options, then the third option is to cancel the contract.
The Importance of a Property Disclosure
A property disclosure is a form provided by the seller which details everything the seller knows about the home. The property disclosure provides total transparency from the start. It will disclose items such as the age of the mechanicals in the home, zoning restrictions, prior leaks in the home, past or present evidence of termites, plus more. If there are any issues with your home, whether it be big or small, they should be disclosed so as to eliminate possible problems in the future or potential lawsuits.
File Documents with An Attorney or Title Company
After a contract is executed, the buyer should deliver the escrow deposit to the title company or attorney indicated on the real estate contract. The title company will perform the title search, issue the title policy, and handle the closing. In addition, after closing. the title company will handle the recording of the deed.
Conclusion If you feel the best way to sell your house is by selling it yourself, there is nothing wrong with this decision. Most importantly, educate yourself on the selling and buying process to avoid big mistakes and future problems. If you find you need assistance, there are real estate professionals here to help you. Ursini & Company will provide you with superior customer service and unique marketing services to get your home sold for quickly for the best possible price. Reach out to us today!
[Further Reading: A Glossary of Real Estate Terms and Definitions]