| Tips
for Real Estate Sellers |

Because most of you have to sell your property before buying Santa
Fe property, I thought it appropriate to share with you some tips
on marketing your home for sale.
Locate a local
RealtorŪ who listens to you needs. Utilize an experienced RealtorŪ
to use your time efficiently and educate you to your marketplace.
Pursue market
research to determine a range of market value for your property.
You have the option of ordering an appraisal, though sold MLS listings
and an experienced Realtor gives you solid information to determine
value. (Remember New Mexico is a non-disclosure state and many private
sales comparables may only be accessed by an appraiser).
Discuss real
estate agency with your RealtorŪ. Establish seller agency appropriate
to the seller's needs. Exclusive Right to Sell Agency establishes
fiduciary loyalty to the seller while guaranteeing commission to
the selling agent. Sign an agency agreement and be sure you receive
your copy of this and all listing/sales documents.
Establish a
sales price considering: sales within last six months, condition,
location, mortgage payoff, realtor commissions and any other financial
considerations. Start with your highest sales price and lower as
time and circumstance dictate. Leave room in your price range so
you can negotiate. Decide upon a sales strategy before offers are
made. Your highest and best opportunity to sell is within the first
ninety days of a listing.
Eliminate clutter on your property. Clean all areas, repaint where necessary, repair all the details you never had time to pursue. Take your Realtor's recommendations seriously to clean and improve the property. If you do not have the time, hire a local handyman to facilitate your process.
Pre pack your
home. First go through entire house and create a pile of unwanted
items you donate to charity. Get rid of the clutter and try not
to be too sentimental, as you will not miss the stuff anyway. Then
pack items not necessary for you daily needs.
Utilize your
Realtor to market your property. Marketing and advertising include:
showings, open houses, signage, flyers, MLS listings, advertising
in real estate venues like: newspapers, periodicals, direct mail,
internet and email. Cross marketing of all the media leads to the
most effective results in the shortest period of time.
Receive offers
and try to appreciate the position of the buyer. Make sure the buyer's
are qualified and that their underwriter will give you a letter
verifying the approved loan. Consider the amount of earnest deposit
relative to the price offered. Is the buyer trying to get something
for nothing? Is the buyer trying to negotiate in good faith? After
several counter offers you will know. Consider all other dates regarding:
moving, inspection, title, survey, appraisal, closing, funding.
Negotiate in
good faith and counteroffer toward the middle. Being greedy or egoistic
about the value of your home has sunk many a deal. Think of the
big picture by closing on your property and moving onto your desired
lifestyle choice.
Agree to contract
terms, deposit of earnest monies - get a reciept !
Pursue all
contingencies and meet all deadlines in your contract. Resolve contingencies
with your Realtor's assistance and sign off on contingencies as
they are met. Verify closing date and closing costs with your title
company.
Close on the
property, receive funding, move on with your life.
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