Utah County Home Selling and getting your Home ready to Show
Showing your home is probably the most important part of the selling process. Consider the following carefully as you prepare your home for viewing:
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The time has come when you have decided that you must sell your home. Before you place a “For Sale” sign in front of your house there are few things you need to consider to help make the sales process run smoothly and efficiently. Listed below are a few things that you should consider when discussing the sale of your home with your Utah County Realtor. Time Frame It really depends on where you live in the country, but most Utah County Realtors consider spring to be the best time for selling a home. The weather is usually getting better families are starting to make plans for the summer and the following school year. Reports state that the slowest selling months are usually during January and February. Most important is to discuss with your Realtor, the current state of market and how that will affect the sale of your home. How to Stage Your Home It is very important to discuss how to make your home inviting to potential home buyers. You should discuss various items that may need repair. First impressions are very important as well, your front yard and entrance should be free of clutter and keep clean at all times. Decorate your home to sell by arranging the furniture to look as spacious as possible. Develop a Marketing Plan The process of marketing and selling your home must match your objectives, priorities and needs. You should discuss when the home will be available to show to the prospective home buyer having your home available at all times will help. Should you want a Lock-box provided for easy entry, this is an invaluable tool. You should understand what the Utah County Realtor plans to do to promote your property, all of them have different programs that they have found that works. Pricing Your Property Setting the proper asking price for your home is the single most important factor that will determine the success or failure of your home sale. If your home is priced too low, you will literally be giving away thousands of dollars that could have been in your pocket. Price it too high and your home will sit unsold for month, developing the reputation of a property. Failure to understand market conditions and properly pricing your home can cost you thousands of dollars and cause your home not to sell, fouling up all your plans. |
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Utah County Real Estate and working with a Home Buyer Agent
As of 1994, the state of Utah authorized Buyer’s Agency. In Utah County, and throughout the state, buyers can choose an agent to work exclusively on their behalf. Buyer agency benefits include:
· Buyer’s agents are almost always paid out of the proceeds of the sale by the seller or builder, so we always recommend using a Realtor, as it will cost you nothing extra.
· Many people do not realize that it is advantageous to have an agent on a new home purchase as well. I have gone to bat for my clients on a number of occasions when there were problems with home builders. Salespeople who work for the builder are usually very ethical they are also employees of the builder and are bound by their relationship to their employer. They do not specifically represent the home buyer like I do.
· Buyer’s agents have certain responsibilities that are defined by the Utah Real Estate commission, which regulates all Utah Realtors. First and foremost, we are required to place your needs above our own when representing you in a real estate transaction. I owe you:
o Loyalty
o Obedience
o Disclosure
o Confidentiality
o Reasonable Care & Diligence
o Accounting on all Matters
The buyer’s agent must treat all parties in the transaction honestly and fairly.
Buyer’s agency is usually provided at absolutely NO COST to you, the home buyer.
Remember when looking to purchase a new home always consider using a Buyer’s agent during the transaction.
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It has come to my attention that many Utah County Banks have been holding a large inventory of homes to be released early in 2012. Due to this excessive influx of bank owned homes, I anticipate a drastic decrease in Home selling prices.
What a great opportunity for all of my Utah County Home Buyers. Interest rates are hovering below 4% and this trend should continue throughout the coming months.
Banks are not in the business to hold onto an inventory of homes. They want to get rid of these homes yesterday. This makes for a great opportunity for you, the home buyer or investor, because most of these homes are well below market value. Once the bank owns the property they will handle eviction if any, take care of some repairs, pay past HOA and/or other maintenance dues, and then will negotiate with the IRS, removal of tax liens, if any.
Most banks have an REO department that handles the sale of these properties. They certainly would like to get the best price of course. When you make an offer, the banks will usually make a counter offer. Don’t be surprised to get a higher counter offer than you might expect. Banks want to show their shareholders and investors that they are trying to get the highest possible price for the house. You should counter the counter offer. Your offer will likely be reviewed by an approval panel. Even after they accept your offer they include wordings like “subject to corporate approval”.
These homes are almost always sold “as is” with the right to inspect. You incur the inspection expenses (termite, general home inspection, mold, etc.). An inspection contingency period must be included in your offer that will allow you to terminate the sale if any of the inspection reveals damage that the bank will NOT correct.
Make sure you have someone representing you who understand this process, when you are trying to negotiate on a Bank owned property. It is important that you have someone who knows how to handle repairs and all the steps necessary for a smooth closing.
Check out the IDX Websites with Homes for Sale in the following locations:
State of Utah homes for sale – Home Selling Utah
Homes available for Sale in UtahCounty
Cedar Hills Homes for Sale
Provo Homes for Sale – Provo Home Selling
Saratoga Springs Homes for Sale
SpringvilleHomes for Sale
Utah County Homes for Sale – Choosing a Buyer Representative
When it’s time to buy a home, it’s also time to select a buyer’s agent to represent your interests in this all-important transaction. But how do you choose one? Here are some of the most significant issues to consider and questions to ask when interviewing your Accredited Buyer’s Representative.
Questions to ask:
Experience and Credentials
How long have you been a buyer’s agent? How long have you been an Accredited Buyer’s Representative? What other real estate designations or credentials do you hold?
References
Can you share the names and contact details for three past buyer-clients who can provide references?
Knowledge
What are your areas of specialized knowledge? Which types of housing or neighborhoods do you know best?
Representation
Please explain what representation choices I have as a buyer. What is meant by fiduciary duties? Do you practice dual representation?
Services Provided
Please explain how you will assist me at each stage of the transaction. Do you have a written buyer representation agreement that details our obligations to each other?
Compensation
How will you be compensated? If I hire you as my buyer’s agent will I be subjected to any additional costs in my transaction?
Finding Properties
Do you have full access to the Multiple Listing service (MLS)? Will you try to find suitable properties beyond the MLS?
Personal Support
Will you handle all aspects of my transaction, or will I be working with assistants? Who will be explaining the various forms, agreements and steps required to reach closing?
Negotiating
Will you counsel me on a negotiating strategy and appropriate contingencies? How will you package my offer to the seller? Will you personally present my offer?
Financing
Will you provide guidance on affordability, mortgage options and how to choose a lender? Why should I consider becoming pre-qualified or pre-approved on a mortgage?
Related Service-Providers
Can you provide referrals to providers of other services related to my transaction, including home inspectors, surveyors, movers, etc.?
Check out the IDX Websites with Homes for Sale in the following locations:
State of Utah homes for sale – Home Selling Utah
Homes available for Sale in UtahCounty
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Cedar Hills Homes for Sale
Provo Homes for Sale – Provo Home Selling
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