If you stick to a well-thought-out plan, you can get the best value for your property and sell your home in the least amount of time.
Sellers Guide – Greater Cleveland Real Estate
Deciding to Sell
Establish your desired time frame for selling first; in order to properly price and decide the best time to sell your home, check the current state of your local real estate market.
Get information on competing properties, especially on homes that are similar to yours. Once you’ve made up your mind to sell, it’s time to consult a professional.
Choosing an Agent
Working with a real estate professional can make a huge difference in the selling process. Their skills, resources, and personal networks that have been developed through years of experience give you a decided advantage.
The right agent will also ensure that your opportunities are maximized by using the most effective marketing strategies for your home. Choose an agent who clearly understands your goals and someone that you are comfortable with.
Preparing Your Home
Your agent will help you set a realistic price for your home through a Comparative Market Analysis and by weighing other factors such as short-term and long-term market trends.
Once you’ve arrived at the final price, you can start making your home more appealing to potential buyers. Keep in mind that first impressions count a lot, and staging your home properly will ensure that it will receive favorable feedback, as well as more chances for obtaining higher offers.
Your agent will provide total market exposure for your home in order to reach more interested buyers by using traditional and online marketing platforms.
When receiving offers, remember that price is not the sole determining factor for accepting a buyer’s offer. Your agent will help you evaluate every offer you get without compromising your marketing position, and will make a thorough assessment of each offer to help you make the right decision.
Inspection and Appraisals
The buyer will have your property inspected during this stage, and a licensed appraiser will also be appointed by the buyer’s lending institution to determine your property’s value. Remember that even though a buyer has a lender’s pre-approval letter, this does not guarantee loan approval.
In Ohio, the law protects buyers and sellers with required disclosures and forms prior to a purchase. The following disclosures are required in Ohio:
- Consumer Guide to Agency Relationships – At first contact, the real estate agent will provide a buyer or seller with a Consumer Guide to Agency Relationships, which explains agency law in easy to understand language and outlines the brokerage policy on agency relationships.
- Agency Disclosure Statement – This documents the agent’s and brokerage’s agency relationships with the parties involved in the real estate transaction; this disclosure will be provided to the buyer before signing an Offer to Purchase or lease and will go to the seller with the offer.
- Residential Property Disclosure Form – This form contains information actually known to the seller concerning the condition of the property as required by the Ohio Revised Code.
- Lead Based Paint Disclosure Form – Covers housing constructed prior to 1978; buyers and renters will receive known information on lead-based paint and a Federal pamphlet with practical, low-cost tips on identifying and controlling lead-based paint hazards. This disclosure should be provided by sellers to buyers before sale or lease, as mandated by the Environmental Protection Agency (EPA) and the Department of Housing and Urban Development (HUD).
Be prepared for problems that could happen during this time, like something breaking down in your home or the buyer’s loan not coming through. Breathe…breathe again…it all will work out!
Your real estate agent should efficiently take care of them, and once everything is in place, all important documents have been signed, and the money has been disbursed to the right parties, you can then turn over your keys to the brand-new owner of your former home. Congratulations, you’ve just made a sale!