Whether you choose to sell your property in Massachusetts on your own, through a real estate broker or with a certified auctioneer, there are steps you should take to ensure that your home is listed, marketed and sold to your best advantage. Educate yourself regarding the real estate market by staying abreast of the contemporary economy, but also by researching the particulars of your changing neighborhood. Do not neglect all available technology; selling, or at least advertising property, online is no longer an innovative idea, but rather one you shun at your own peril.
Instructions
1. Decide why you are selling. If you need to sell because you are moving or divorcing, or because the property has become unsustainable for you, your options are limited. However, if you want to sell to upgrade or downgrade, to move closer to family or merely to change neighborhoods or cities, look closely at the state of the Massachusetts real estate market. No one sells on a whim in a down economy.
2. Obtain preapproval for financing if you are selling one property to buy another. Before you place your property on the market with anyone, you need to understand the numbers with which you are working. Consider whether you can afford to buy without selling, and if not, how much money you need to get out of the sale of your home to move into your next one.
3. Choose a real estate agent or auctioneer. See Resources for links to Massachusetts-area Realtors and auctioneers. Interview at least three Realtors and two auctioneers. Ask how long they have been in business in your area and to what professional organizations they belong. Ask about their pricing strategy for your property, marketing plans, open house schedules, sales track records and their sales price/ listing price ratios. Ask for references.
4. Negotiate a commission. It is important to weigh all the above factors in concurrence with the rate the Realtor or auctioneer will charge you. Before signing a contract with a Realtor, be certain its length and condition (exclusive/nonexclusive) is explicitly defined. Choose a listing price and sign a listing agreement.
5. Prepare your house for sale. Listen to the Rrealtor regarding property staging by doing small things, such as moving clutter and bulky furniture out, or larger things, such as painting or wallpapering. Sometimes a small investment in time and money can be a large boon to your bottom line.
6. Make appointments for photography of the exterior as well as the interior of your home. Most Realtors creatively use the Internet to conduct virtual tours of their listed properties. It is a great way to allow potential buyers inside your home before they ever knock on your door.
7. Conduct open houses as well as private viewings through your Realtor. Be certain that your house is clean and orderly at every occurrence. If for some reason you feel your home is not in its best possible condition for viewing, postpone an appointment. It is better to delay a good impression than to give a bad one.
8. Receive written offers and work with your Realtor to negotiate the best price. Allow the buyer to have a home inspection done and negotiate further upon its completion. Depending on what the inspector finds, you may need to outline repairs or cost considerations in your final accepted offer.
9. Accept an offer; place the earnest money deposit in escrow through your Realtor and sign a purchase and sales agreement. Set a closing date, usually 30 days from purchase and sale in Massachusetts, but often contingent on the buyer’s bank requirements. Allow your buyer’s appraiser entrance to your property. Be prompt and forthcoming with all requested documentation and seller disclosures. In Massachusetts, sellers are required by law to sign disclosures regarding lead paint and urea formaldehyde foam.
10. Close on the property. In exchange for the agreed-upon price, convey the deed of your property to the buyer. If you still have a mortgage on the property, you will be required to pay it off at this time and to deduct the Realtor’s commission from the sales price. The net monies are yours.
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