Seller FAQ

Do I really need a REALTOR® to sell my home?

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process, and will educate and inform you of all your options.Having a licensed REALTOR® in your corner means that you can focus on getting your home ready to sell while the REALTOR® takes care of everything else. Some of the services a REALTOR® provides include:

• Expert guidance – Selling a home generally requires dozens of forms, reports, disclosures, and other technical documents. A REALTOR® will help you prepare the best deal, and avoid delays or costly mistakes. There’s also a lot of jargon involved, so you want to work with a professional who can speak the language.
• Insight on when to sell, for how much, and what home repairs or renovations will actually increase your home’s value in your neighborhood.
• Marketing your home with both traditional signage and brochures as well an online though the Pikes Peak MLS and syndicated websites like Zillow, Realtor.com, Trulia, and more.
• Experienced negotiation of offers and contract terms.
• Ensuring documents are completed and turned in on time (signed contract to the title compay, verification of a clear title on the property, verification of the order of the home warranty, etc.)
• Coordinate Closings

 

When is the best time to sell my home?

For the most part, Spring is the best season to sell a home in Colorado. Most people don’t want to have to move during the Winter holidays, or risk needing to move when there is a foot of snow on the ground. Plus, your yard isn’t as visually appealing in the Winter as it is in the Spring.

That said, there are times when listing during the colder months can be a plus. The market is generally pretty slow in the Winter months, and sometimes a lack of inventory can move your home to the top of the list! The best way to find out when to list your home would be to ask a REALTOR®. They are intimately familiar with what local markets are doing, and can guide you when concerns about the best time to list come up.

 

How can I add value to my home so I can sell for more money?

The answer for this can be trickier than you think. Depending on a number of factors (your neighborhood, age of your home, etc.) some home improvements do vastly increase your home’s worth while others don’t do a whole heck of a lot. Invite your REALTOR® to your home, and talk to them about what improvements they think you should tackle first and why.

 

How much is my home worth?

First thing’s first….Zillow is a liar. While home valuation sites like Zillow can sometimes come close to the mark, they are often wildly inaccurate and inconsistent. No algorithm, however sophisticated, can know what upgrades (or lack of upgrades) have been completed, whether the yard has been maintained, or be aware of that addition you put on two years ago.

The best way to get an estimated value of your home is to look at comparable homes in your neighborhood that sold relatively recently. It’s also important to figure in any upgrades or improvements, as well as how well the home has been maintained. The style and location of your home (cul-de-sac, busy street), and several other factors can all come into play when valuating your home.

A knowledgeable and experienced REALTOR® can help you valuate your home, and should do so before asking you to sign any contracts with them. To schedule a no-obligation home valuation with one of our licensed agents, visit our Agent page and call or email one of our outstanding agents today!

 

Should I price my home high knowing a buyer will try to negotiate the price down?

This can be a huge gamble. Here’s the problem with this scenario. Most serious buyers will get pre-approved for a loan at a certain amount. When they know their budget, they generally tend to perform home searches within that price range. The problem with overpricing your home is that many potential buyers will not see your home at all, and will instead only look at your competition. Meanwhile, people who are looking for homes in the higher price range will find other homes for sale that will likely be larger and have more desirable features than your home.

The second potential problem is that buyers who see homes that have been sitting on the market for an extended period of time as less desirable. It makes them wonder what is wrong with it. Buyers will think that because your home hasn’t sold that you may be more desperate to sell your home and you may be more willing to take a much lower price to get your home sold.

In our experience, we believe that if you price it right then the desire for a Buyer to negotiate will be reduced when they see the home priced fairly.

 

Do I need a Home Warranty?

While you don’t have to have a home warranty, we find that our clients, both buyers and sellers, love the peace of mind that comes with a home warranty.

First, it protects you from unexpected repairs during the period of time that your home is listed. Second, if you choose to purchase a one-year home warranty for your buyer, you can advertise that the home is covered for the first year. It protects the buyer from any unexpected expenses, which tends to give people peace of mind. Again, this is completely optional. Ask your REALTOR® for more information and pricing.

 

Should I disclose known issues with my home even though an inspector probably won’t find them?

Yes! Discuss what known repair issues you may have with your REALTOR® to determine a course of action. Some issues should absolutely be disclosed or even repaired ahead of time.

Imagine that a you have accepted an offer from a buyer, and you are days from closing. Upon final walk-through the buyer notices that the dishwasher has leaked water into the basement, and the paint you put on the wall is now peeling to reveal the issue. This could be a deal-breaker. Once the buyer sees you were hiding one necessary repair, they may question what other issues were covered up and choose to back out of the sale.

 

I’m in a time crunch. What can I do to sell my home quickly?

Easy. Price your home right, stage your home beautifully, complete any needed repairs, and talk to your REALTOR® about what they recommend for a quick sale!

 

How does Action Team Realty market my home?

First, we have our photographer take beautiful, professional photos of your home. It’s important to entice buyers, and gorgeous photos is the first step! Once we have the photos in-hand, your home is listed on the Pikes Peak MLS. Next, we syndicate the listing onto Realtor.com, Zillow, Trulia, and several other real estate websites. We list your home on a showing website where agents can schedule showings of your home with or without appointment approvals by you. A sign is placed in your yard, and if needed we can include brochures on the sign. We also market your home on social media sites and include a video on YouTube.

 

Should I be present during showings?

It’s not a good idea. Buyers and their agents need to feel comfortable discussing both the good and bad about the homes they tour, and to feel comfortable when walking through the home. This is much easier to do when the home is vacant, and they can take as much time as they’d like and don’t feel as though they’re being watched. It is generally a good idea to leave your home during showings.

 

Why has my home had so few showings?

For the most part, homes that aren’t being shown are overlooked because the price is too high. Other possible reasons could be poor curb appeal, location, or lack of marketing efforts by your REALTOR®.

 

How should I respond when someone makes an offer that is just too low?

The worst decision you can make when you receive a low ball offer is to not respond. Sometimes a buyer really wants the property, but wants to test the waters to see if they can get a deal. Don’t take it personally. Just come back with a counter-offer that you think is reasonable, and hope for the best!

 

What are Seller Concessions?

A seller’s concession is an amount of money paid toward closing on your behalf. Generally, this money is used to pay for closing costs, but sellers occasionally concede money if they realize their carpets are gross and need to be replaced or that their roof needs repairs they don’t really want to make.

 

What are some common bank required repairs?

When the home-buyer is financing the home through the bank, the bank often requires that certain safety hazards or concerns are addressed. Some common bank required repairs include peeling paint, missing handrails, broken windows, missing electrical covers, and roofs that are in very poor condition.

 

Can you provide recommendations for service providers?

Of course! We are able to provide recommendations for high quality mortgage professionals, contractors, movers, or other services needed throughout the home selling process.

 

What happens if the appraised value of my home comes in below the agreed purchase amount?

In order to ensure that the home loan is a good investment for the bank, they want to ensure that the amount being loaned on a home does not exceed the value of the home. For this reason, getting the house to appraise above the agreed upon sales price is important. But this doesn’t always happen. In this case, there are four possible outcomes:

1. The seller makes a concession to sell the house at the appraised value
2. The buyer comes up with the difference
3. The appraisal is challenged (though the chances of getting the appraised price to change drastically is slim)
4. The transaction is cancelled.

 

What is a Sale Contingency?

A sale contingency is when a buyer agrees in the purchase agreement to buy your home, but only on the condition that the sale of their current home closes first.

 

What are some common closing expenses the seller is generally expected to cover?

There are some expenses that a buyer typically covers, and others that are traditionally covered by the seller. These are negotiable, but typical closing expenses covered by the seller include:

• Transfer Taxes or Revenue Stamps
• Abstract and Title Search
• Real Estate Commissions
• Instrument Survey