Imagine you are swimming in calm waters and all of the sudden …
duunnn dunnn … duuuuuunnn duun … you are bitten by a shark!
Sharks can bite you and eat you alive when you least expect it, sometimes taking small nips until there is nothing left!
Selling your Ocean Pines home can be a complex process and without proper preparations is just like being attacked by sharks. There’s no need for this if you keep in mind the following.
Overpricing Your Home
It’s important to be realistic about the value of your Ocean Pines home. Sellers should insist their realtors present them with objective criteria for pricing. Comparative information is most critical in getting an Ocean Pines house priced properly. If you ask for too much, it’s hard to ask for less later on in the process.
Not Displaying Curb Appeal
You don’t have to invest thousands of dollars into redecorating your Ocean Pines home. But there some basic steps you must take to present your house in the most positive light.
Overdoing Home Improvements
Don’t go overboard staging your home. It should feel warm and inviting. Grass should be freshly cut, plant some flowers, organize the home’s interior, rid the home of foul smells and apply new coats of paint to all walls and doors.
Not Understanding the Buyer’s Offer
Carefully reviewing and understanding the offer or purchase contract is imperative. Here are a few things to look for:
- Has the buyer agreed to put down a significant deposit?
- Has the buyer asked for some credits to cover loan costs?
- Is the offer contingent upon the owner selling his or her present home? If so, how is the selling process transpiring?
Have general inspections done in advance. Even though buyers will often have the house inspected again, it’s best to prepare for any potential problems.
While it is tempting to hide or fail to mention the snafus of a home for example, it’s a hotel for cockroaches or located in an area that’s prone to floods or earthquakes, canyon fires, it is best to give buyers full disclosure. This kind of information can greatly affect the value or desirability of the property.
While you may think your pink walls or roman columns are fabulous, it is best to keep that opinion to yourself.
Once you have an offer on the table, it is imperative to secure letters of prequalification or loan approval from the buyers. These letters should not only state that the buyers’ credit has been checked but also that it was acceptable to the lender. Also, it’s important to ask buyers to complete a loan application and submit it to their lender within a few days after acceptance of the offer.
Closely Read Closing Statements
Cautiously review the closing statement, including the loan balance, repairs and other expenses detailed there to avoid last-minute surprises or errors. Make sure you get an estimated statement a few weeks prior to closing and compare the final statement to the estimated one.
If you follow these steps, you will go a long way towards avoiding being a victim in the home selling process.
ARE YOU READY TO SELL YOUR OCEAN PINES HOME?
Call, text or email me today at 410.430.8755 and I’ll provide you with a detailed analysis of your Ocean Pines property’s appeal to buyers. I’ll make an on-site visit to examine your Ocean Pines home from top to bottom, inside and out.
My goal is to identify and eliminate buyer objections before they happen. In addition, I’ll seek out opportunities to guide you on how to sell your Ocean Pines home faster and for more money.