Amy Sujanani
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Seller "no-no's" & "to do's"- How to prepare to sell( PART 1)

Posted by Amy Sujanani on June 29, 2016 at 12:05 PM Comments comments (0)

 

Want it straight? I work with ALOT of buyers & I show ALOT of houses. Here is what I tell my sellers to prepare for selling.

MAKE SURE YOU CAN DO THIS!!

Are you going to buy a new house? GET PREAPPROVED! Other wise, you may not have a place to live after you've sold. Call a lender and make sure it is going to be something you can do. KNOW WHERE YOU ARE GOING!!

DON'T GO OVERBOARD!!

Especially in today's market. Home values are on the rise, but don’t sink a ton of unnecessary money into your house that won't be a benefit. For example; If the bathroom is ok and not horribly ugly, leave it alone. It doesn’t have to be a "dream bathroom" with granite countertops and marble tile for it to sell. My sellers are usually surprised that I don’t suggest they repaint the whole house and remodel everything before they sell it. Make sure each room looks nice. If the paint is barf orange, change it. Wall paper is a big turn off for buyers. If the carpet is worn and disgusting, replace it. Same with any other kind of flooring, paint or surfaces. You want it to sell. Of course the better it looks, the more money you will make. You just have to be careful on what you put your money into. Don't pay $50,000.00 for an in ground pool for example. Some people don't want a pool to take care of and you will NOT be able to add $50,000.00 to the price of your home and it sell just because of a pool. Can you kind of see what I am getting at?

MAKE SURE THE IMPORTANT THINGS ARE OK!!

Your roof, water heater, ac/furnace, windows are the most important things that buyers want to know the age of. Make sure you take care of those. service them, etc. The buyer doesn’t want to buy a house just to have to replace the roof in 3 months.

CURB APPEAL IS VERY IMPORTANT!!

Most of my buyers do a drive-by before asking me to see a home. It is very important that your landscaping don’t look like a wildflower field, your paint isn’t chipping and peeling, your siding isn’t hanging off the house etc. Get a power washer out-clean. Re-paint the porch if it needs it. Stain the deck again if need be. CLEAN OUT YOUR GUTTERS! Make sure the lawn is mowed. Check your screens and windows, make sure they are in good shape, no one wants a broken window. Fix any broken fences. Put a fresh welcome mat out. Make it look inviting, fresh and add some color. It is very important!! Make sure it looks great outside!

MAKE IT APPEALING FOR THE BUYERS!!

Once you have the outside looking great, move to the inside. Go outside, close your eyes and remove yourself from the house in your mind. Pretend that you have never seen this house before and you want to buy one. Depersonalize it. Now, open the door and your eyes and walk in. Look around each room as if you are new to it. What do you notice, what would turn you off from buying it? Fix those things. The walls don’t have to all be white or tan. Make sure they aren’t loud though. Move your furniture around to the best way that makes the room look the biggest. Make sure the doors all open and close ok and don't squeak. DECLUTTER the crap out of your house. Do you have to remove all of your pictures? No. Just make sure there aren’t a ton of them. You want the buyer to look at the house, not your family and friends. Buyers are nosy! haha, take that away so they focus their attention on what the house has to offer. Clean the carpets. Clean your baseboards and ceiling fixtures. The cleaner it is, the more the buyer feels that it has been taken care of, and in turn is more apt to buy it. Clean your countertops off. Only keep what’s necessary out. This applies to ALL surfaces in the home. Make sure your refrigerator and oven is clean and decluttered, inside & out. Make sure your closets are straightened. Make sure your shower and toilet is clean, keep the lid down. Sweep & organize the garage. PUT AWAY ALL VALUABLE ITEMS!! Their agent with be with them, true, but a lot of times the agent can't watch every member every second. Due diligence on your part will ensure these items are safe. CLEAN, CLEAN, CLEAN.

MAKE SURE YOUR HOUSE DOES NOT SMELL DISGUSTING!!

You don’t' want a good smelling scent to be overbearing either though. I always suggest a fresh scent or baked goods scent, but not too many. Some people have allergies and asthma.

You also don’t want your house to smell like sewage, bathroom, strong smelling food if you can help it, pets, garbage or cigarette smoke. If you are a smoker, you really need to consider febreezing the heck out of your house and start smoking outdoors. If you can see the smoke on the walls, paint them. If you have pets, do whatever you have to do to make sure they can't even tell you have pets, because they can't smell them. The only way they should be able to tell is by seeing their food & water dishes.

For a complete "To Do" list, Hit me Up!! Email, call or text me and I’ll send you one. Or I can come out to your house and tell you what you need to do and what isn't necessary!

Any questions?? Just ask!

 


What does it cost to SELL a home? Just Commission??

Posted by Amy Sujanani on May 28, 2016 at 4:30 PM Comments comments (2)



The answer is no. 

I've had alot of sellers mistakingly believe that they can "break even" by selling their home for what they owe plus the cost of commission.This is NOT true..I always do a "proceeds sheet" for my sellers at the time of listing, when they get an offer, and when they reduce the asking price. I can't imagine NOT doing this for my clients simply because alot of people dont know all of the costs associated with selling,The proceeds sheet shows all of your costs subtracted from the selling price so you'll know about how much you'll be getting at closing. I've heard of closings falling through at the last minute because the seller didnt have enough money to bring to the closing table, as they thought they were going to break even. This tends to happen with sellers who have refinanced or that bought at the top of the market and haven't paid down the mortgage enough.Let me go through a seller's costs for you now...

Your Mortage balance

Look at your last statement and round up to the next number. Whatever your payoff says on your statement, it will not be exact. Your mortgage holder will want their interest through to the end of the month, so round up. It's always better to be safe than sorry. Make sure to count any other mortgages you have on your property-- if there are any.

Title fees

These fees depend on which title company you are using. These fees include the document prep, deed prep,document stamps, title insurance & search and any unpaid sewer leins or any other leins on the property. A pretty safe number to figure is about $1500.00, depending on the price of the house too, this is a pretty close number, give or take a couple hundred.

Taxes

This is a tricky one and depends on the state you are selling in. In Illinois, we pay our taxes in arrears, meaning we pay behind. In example, It's May of 2016 and as of this moment, the last tax bill we have is 2014's. So, here is what we do at closing, we prorate.  The seller has to prorate and credit to the buyer the amount of taxes till the date of closing. Once we close, you will not have to pay those tax bills coming out, you already gave that to the buyer.  Let's say the last tax bill available was $1200.00 , and we are closing May 31st. The last tax bill that had been paid was 2014, so we will have to pay 2015 and Jan-May31st of 2016. That would be $1200 (2015) + $500 (Jan-May)  Taxes will be $1700.00 taken from your proceeds/charged to you at closing. If you have an escrow account,(an account that your taxes and insurance from your monthly payment goes into) your mortgage company will mail what's in it, to you after closing and you'll get that wihtin a few weeks time. 

Commission

 This is whatever your wonderful agent is charging you!This amount is listed in the listing agreement that you will have signed at the time you lsited your property. If you are selling without an agent, you will have zero commission, unless you are paying a buyer's agent.

Any Extras

If you agreed to pay the buyer's closing costs or pay for a home warranty, these are examples of an "extra".


This sums up the costs of a seller! Every transaction is different, If  you have any questions, just ask!

Thanks for reading! ~~ Amy Sujanani