Home Sellers' Guide
First Things First…
Alex and The Riverside Realty Group’s team of local experts will visit your property to become familiar with its attributes and exchange ideas with you on how to make it most marketable. “You never have a second chance to make a first impression”—so this is the ideal time to look at your home through a buyer’s eyes and identify any items which will help show it off to its best advantage.
What is my home worth?
It is important to remember that Real Estate markets are local; oftentimes conditions vary widely from one town to the next, or even from one part of town to another. Because of this, you should keep in mind that market conditions reported in the media might not necessarily be pertinent to your specific situation. Because of this, you need a comprehensive market analysis prepared by an experienced professional to help you through the decision making process. It should take into consideration the particulars of the home, property, and location not to mention the intangibles such as local market conditions (supply/demand), and the broader economic state of affairs. Once all of this is taken into consideration, we will evaluate the information together to arrive at a realistic listing price for your property.
What paperwork is required to get the process started?
Sellers of residential property in Connecticut will be provided with the following forms. We will go over them together and discuss the purpose of each: Consumer Information Statement on Real Estate Relationships, Listing Agreement, Multiple Listing Service Input Form, Agency Relationship Agreements, and various property disclosure forms including the State of Connecticut Department of Consumer Protection Residential Property Condition Disclosure.
What Kind of Marketing Plan yields the best results?
The answer is never the same for any two properties, but it can best be summarized as a results-oriented, international marketing plan geared at targeting the correct market for your home. Click here to read about our approach to home marketing. In today’s day and age, the internet plays a major role in the home sales process. In response, Alex brings a broad technology skill-set to the table to help yield the best possible results. An early pioneer in online property promotion, Alex qualified for and earned the “e-Pro” Online Marketing Proficiency Certification from the National Association of Realtors, a designation held by only 1% of the organization’s million-plus members. I am proud to offer exposure on all key websites, and utilize enhanced showcase marketing packages to display the maximum number of photos and detailed property information.
How should we evaluate an offer?
When a qualified, ready and able buyer presents an offer to purchase your home, we will work together to evaluate the terms including the offered price. Experience makes a world of difference at this critical stage, and I am proud of the years of market expertise I bring to the table. Most commonly the offer is presented on behalf of the buyer by their Realtor. Standard Purchase Agreements include:
- The opening offer
- The amount of earnest money being held in escrow
- Financing terms
- Closing date
- Any applicable contingencies, which might include: mortgage commitment date, inspections (structure, pest, well, septic, underground oil tank, radon, water, asbestos, lead, pool, tennis court)
- Date on which the formal contracts of sale will be signed and balance of deposit given
- List of personal property that is to be included or excluded from the transaction
Successful negotiations stem from an understanding of the transaction and process entailed in reaching the closing table. As needed, counter-offers may be needed before all parties reach a meeting of the minds. We will continue to work closely as the deal evolves and provide all necessary information to your Real Estate Attorney.
When is a contract signed?
When an agreement is reached between buyer and seller, you will instruct your Real Estate Attorney to prepare a contract of sale that incorporates all of the terms previously decided upon. The document will be signed by the buyer first after review by their attorney, and accompanied by the balance of the deposit (customarily 10% total) which will be held in the lawyer’s escrow account. Contracts are then signed by the seller. Upon expiration of contingency dates, or release of them, the sale is now “pending” and waiting to close.
Closing of the sale
Just prior to the closing of the deal, buyers will perform a walk-through inspection of the premises. A closing of the sale typically takes place at the seller’s attorney’s office or other mutually agreed upon location. In addition to the keys, the seller will convey the deed to the buyer. At this time, conveyance taxes to the municipality and state will be paid off in addition to satisfaction of any applicable mortgages. The deed and property transfer will be recorded in the Town or City Hall by your attorney.
You need a comprehensive market analysis prepared by an experienced professional to help you through the decision making process. It should take into consideration the particulars of the home, property, and location not to mention the intangibles such as local market conditions (supply / demand), and the broader economic state of affairs.