Consider multiple offers. To save commission fees many people want to sell as a For Sale by Owner (FSBO). The Seller may have a friend or acquaintance that wants to buy their home. Does the Seller get the most money for their home this way? While every home is unique and each Buyer and Seller relationship is different, generally, the answer is no. In the current market, viewing multiple competitive offers will usually get the highest sales price and the best terms for both parties. Atomic Realty’s $599 + 4% plan will manage this for you and get you the highest price and terms that best meet your goals.
Price. When marketing your home, Atomic Realty suggests you price your home at a price you would be willing to accept, and no less. Some brokers will have you underprice your home to spark interest and hopefully have a multiple offer situation. In this market we do not believe that underpricing a home is beneficial, or honest to either buyers or sellers. Atomic Realty will help you determine a price you can accept.
Earnest money is money that a Buyer will put down as a commitment to the Seller that they will not back out of the purchase for no reason. To strengthen an offer, sometimes the Buyer will agree that the earnest money is not refundable for any reason, However, generally the earnest money is refundable if the Buyer’s loan doesn't go through or the inspections do not have satisfactory results.
Time to consider all offers. Historically a person puts their home on the market and considers each offer as it is made. With the current market conditions a common way of doing business is to show your home for a week or two and set a date that you will consider all the offers that have come in. This lets the market decide the value of the home and you decide a price and terms you feel most comfortable with. With Atomic Realty’s $599 + 4% plan Atomic Realty will field all the offers and discuss the pros and cons in price and terms of each.
Escalate or not? An escalation clause is sometimes part of an offer that increases the offer up to a certain level. Usually these are relevant in multiple offer situations. An escalation clause increases the Buyer's chance of getting an accepted offer and increases the Seller’s sales price. With. Atomic Realty’s $599 + 4% plan, Atomic Realty will manage and advise every aspect of the escalation in an offer. To see an example of this, go to AtomicRealty.net and see this example and many other selling and buying tips.
ATOMIC REALTY’S VIEW ON PRE LISTING INSPECTIONS
Historically, and still common in many markets, a Buyer will make an offer to purchase and if accepted by the Seller there will be a multi week period when the Buyer can have inspections completed. After the Buyer’s inspections are complete the Buyer can object, no matter how minor or major an issue is, and request the Seller to resolve the issue by; lowering the price, accept the home “as is”, or backing out of the transaction completely. Inspections are not mandatory for either the Seller or Buyer.
A Seller having a pre listing inspection completed in advance of bringing the property to market, ultimately serves both the Seller and the Buyer by providing everyone important information. For the Seller, it advises the Seller as to what deficiencies are present in the home, it arms the Seller in advance as to what issues Buyers may use as bargaining chips, and it provides the Seller the opportunity to proactively remedy deficiencies or, alternately, acknowledge the problems and choose not to repair issues. Either way, the Seller is able to become fully informed from the outset, in advance of negotiating with a Buyer. Furthermore, the Buyer isn’t making uninformed assumptions about the condition of the property but is provided with a snapshot on its current state. This is a win-win for all parties.
As a Seller, wouldn’t you want Buyers to have this information upfront before they submit an Offer to Purchase, rather than after making an offer when they could walk away collapsing the deal, or try to hold you ransom for a price abatement?
A pre-listing inspection should focus on proper functionality of all major systems and components of the house such as heating and cooling; electrical; plumbing; roof and structure; siding; and doors and windows. Simply put, everything from the exterior to the interior will be evaluated. It only takes a few hours for the inspection to be completed. In the end, the inspection will give you a report of all the things noticed during the inspection.
A Seller’s “pre-listing” inspection is an optional step that a Seller may or may not choose to do. However, it may give the Seller an edge in attracting and retaining Buyers. While Sellers may be reluctant to spend the money for such services (often $500-$1000), In modern markets Sellers often utilize a “pre-listing” inspection” as there are many potential benefits to both the Seller and the Buyer for such an inspection, such as;
Atomic Realty recommends pre listing inspections and supplying them to potential Buyers, but it is entirely the Seller’s decision as to whether to do so.
Closing costs - Legally, everything in real estate is negotiable, closing costs included. Often, which party pays them is determined by local convention. As a part of Buyer’s strong offer the Buyer may offer to pay most of the closing costs.
Appraisal, in markets where prices are rapidly rising, appraisals often don’t keep up with sales prices, as the appraised value is determined from other prior sales. In a Sellers’ market to strengthen the offer a Buyer will often waive the appraisal. What this means is that if the bank's appraiser does not appraise the home for the purchase price, the Buyer agrees they will pay the difference between the appraised value and the purchase price.
At Atomic Realty we are professional, honest FULL Service Real Estate Brokers offering sensible commissions. We are based in Los Alamos and service Santa Fe, Los Alamos, White Rock and Espanola. We use no misleading tactics. We tell you exactly what we are going to do, and exactly what we charge. We are people you can count on. NO tricks - Whether buying or selling we will honestly assist you. Check out Atomic Realty’s Free selling tips, FAQ’s, and pricing plans at AtomicRealty.net