What Sellers Need Before They Decide to List the Home for Sale
In our previous article, we discussed some of the main reasons for selling your home. If you’re ready to take the plunge into home selling, you will want to make sure that your important documents are on-hand before asking your agent to put your home for sale on the market.
Below is a list of the proper paperwork that your agent needs to provide before you list your home for sale.
Comparative Market Analysis ( CMA)
The comparative market analysis is a report that your agent generates for you. A CMA is an examination of the prices at which similar properties in the area recently sold. Your agent will perform a CMA to help you determine a fair and competitive price to list at when you put up your home for sale. Since no two properties are identical, agents make adjustments for the differences between the sold properties and the one that is about to be listed to determine a fair offer or sale price.
Preliminary Title Report(Prelim)
The Preliminary Title Report is a document that shows who the owners are, what taxes are owed on the property, what type of liens are recorded on your property and any type of covenants or conditions recorded on your property. You will need to overlook the Prelim ahead of time, to learn whether there is anything reported as negative or needing attention on your property before you begin putting up your home for sale.
Seller’s Net Sheet
The Seller’s Net Sheet is a document that sums up all of the expenses and money to be received at the time your house is sold. This often is a deciding factor on whether the seller wants to or is able to sell the home. A net sheet is a simple tool that allows a seller to better understand the costs required to sell the property and shows approximately what the amount of the proceeds will be after all costs have been considered. The result of the Seller’s Net Sheet is just an estimate, but the information should be reliable enough to give you an idea of how much money you can expect to receive at the end of the sale.
The Proposed Marketing Plan is something every seller should receive from their agent. This document lets you know all of the activities involved with selling the house. The Marketing Plan will show you how often your agent intends to hold open houses, advertising, and virtually everything the seller needs to know about how your home will be marketed.This is the task that will truly lead to success, as your agent forges relationships with potential buyers and keeps them updated about your property’s situation.
Don’t start packing your things without reading and reviewing these documents. Maybe it’s not the right time yet or you might need more funds to cover the expenses in listing your home for sale. These documents are also essential to making sure that there will be no issues in the future, once you hand over your keys to the new homeowner. You can all determine all of the answers and decide better once you had reviewed these important documents.
Are you set and ready to sell? You can start preparing your home for sale now by following these 5 secrets of home staging!