You're ready to start the process of searching for your next home, but you're a little apprehensive about all the steps associated with the process. One stage that our real estate agents suggest you learn about is the closing process.
The closing process is the last major stage of buying a home before you're officially a homeowner. Here's what you should know.
Ready to find your next home? Our team is ready to help every step of the way. Contact us today to start your search!
It's summer and you know what that means – it's listing season! Even though the market is primed for selling and many homes are selling for way over their asking price, it's still important to approach selling with a sound strategy. To that end, here are some key takeaways you should keep in mind to stay on top of your game in the lucrative 2021 market.
Understand Market Data
Though it can be exciting to sell when the market is scorching and you have the potential to make thousands over your asking price, remember that the market changes quickly, and there are a number of factors that go into pricing your home. According to Inman, if a home prices higher than comps in its area, it's likely that home has factors that can't be replicated – such as location, a pool, or a desirable lot. Your Watson agent knows to do their research thoroughly in order to best understand how to price your home.
Know Your Target Buyers
Low supply and buyer demand are skyrocketing the prices of homes, but that means that certain buyers are going to be priced out. Therefore, it's best to understand what your target audience is and what they're willing (and can afford) to pay. A great REALTOR® will understand where the leads are coming from, whether local or out-of-town, and what their financial backing looks like. Many buyers are offering all cash, but that may not always be your best bet since it can include contingencies, deductions, low-balling, and timelines that leave you frustrated.
Don't Alienate Your Buyer
You may think that since the market is in your favor, you get to call all the shots. But that attitude can backfire. Buyers still want a good deal and want to be treated with fairness. They also will be unwilling to move forward if the home doesn't meet their expectations. So, to avoid this pitfall, be sure to first get a thorough inspection and repair big items before listing your home. Things like roofs, leaks, or any basic items that are non-functioning need to be in great condition before listing, or you risk losing most buyers.
Proceed with Caution in Multiple-Offer Situations
Though receiving multiple offers on your home is a leveraging dream, it's not a particularly easy-to-navigate situation. Your instinct may tell you to go with the highest bid, but that's not always the right answer. An experienced REALTOR® will know to dig into the contract terms, financing, the offer letter itself, and other variables in order to make the best decision. It's best to operate with knowledge and realistic expectations and not let emotions sweep you away.
Now that you have the most vital information for selling your home in 2021, let's begin the listing process with the help of our expert Watson agents – contact us today!
Whether you're selling or refinancing, a lot rides on your home's professional appraisal. The appraiser's unbiased opinion will give buyers and lenders alike a clearer vision of your home's worth. A lower number hurts your chances of securing a loan or selling for a good price.
Many factors go into your home's appraisal, some of which you simply can't control like number of bedrooms or the neighborhood. Luckily, there are things you can do to boost your home's profile. Here are some tips for getting a high appraisal.
Look at Past Appraisals
If your home has been appraised in the past, take a look at those records. Pay close attention to the things that lowered your home's value and try to improve those issues first.
Cleanliness is next to godliness, and that goes for your home too. Scrub, dust, and wipe every corner of your home to create a spotless presentation. Renew your air fresheners or light a candle or two to emphasize a clean, crisp environment. You'd be surprised how something as simple as cleaning can influence your appraisal.
Take Care of Those Minor Repairs
If you've been putting off those pesky leaks or clogged gutters, now's the time to knock them out. Neglecting quick and inexpensive fixes will absolutely negatively affect your appraisal. Be sure to document any minor and major repairs as well, especially if you hire contractors to work on them.
Before the process even begins, your appraiser will start making mental notes about your home's exterior as they arrive. Make sure they're taking good notes by creating welcoming curb appeal. This can be done by maintaining the grass and any plants, presenting a clean walkway, touching up the paint if need be, and more.
Enter the Modern Age
Worn finishes and creaky, old appliances won't score you any points for being vintage. Instead, consider saying goodbye to these relics of the past and enhancing your home with more modern touches, like quartz countertops or stainless-steel appliances. Appraisers will place more value on these sorts of higher-end details. Of course, it's always worth talking to your agent about which upgrades make the most sense for your home.
With that said, however, it's important not to cater your home to one specific niche. Pricey upgrades may not make as much sense as they do on paper – you may not even recoup those expenses in the sale.
The ultimate takeaway is to ensure your home is well-kept. Even a home with outdated stylings could sell well if it's been maintained with care and consistency over the years.
If there are repairs you haven't completed by the appraisal, be honest with your appraiser. The desire to hide them may be strong – no one is proud to admit they haven't gotten that cracked foundation fixed yet – but it will only hurt you in the long run.
By telling your appraiser of any needed repairs, they can possibly factor the costs of said repairs into the appraisal. Otherwise, they may use a general figure, which could end up hurting your value. If you intend to have the repairs done yourself, the appraiser may need to return to confirm their completion.
Have more questions about getting a high appraisal? Contact a Watson agent today for more info!
When buying or selling a house, what's your top priority? Probably to make the most money if you're selling or get the best deal if you're buying. As a result of being money-conscious, you might think you're better off pocketing what you would pay in commission fees for a real estate agent. If you go that route, however, you're likely doing yourself a disservice. The value of a real estate agent comes from the often-overwhelming amount of work they take off your plate when buying or selling your home.
Buying a Home
House-shopping is at once very exciting and exhausting. A real estate agent can help alleviate many of the exhausting factors. They'll comb through new listings – across a wide network you wouldn't otherwise have access to – in search of homes that match your wants and needs, weeding out the pretenders and bringing you the contenders.
The value of a real estate agent becomes even more apparent when it comes time to make an offer. They'll help you prepare a formal offer as well as guide you through any negotiation that may come after to ensure you get a good deal. After the offer, a real estate agent will guide you through inspections and oversee any repairs deemed necessary.
Selling a Home
What do you need an agent to sell your home for – you know it best, right?
Well, when selling, objectivity is your best friend. A real estate agent will value your home with an honest eye, one that accounts for market value and other factors to ensure your asking price isn't too high. They'll also help you stage your home so that it makes the best impression to potential buyers.
Your agent will be invaluable when it comes to marketing your home to those buyers. They can get your home exposure on multiple websites and listing services, as well as use tools like social media to get even more eyes on the property.
Again, you'll truly recognize the value of a real estate agent when you start receiving offers. Your agent will review offers and keep you informed through every step of negotiation, ensuring you don't get caught with a stale deal.
Picking the Right Agent
Ultimately, the real value of a real estate agent comes in finding the right one. Working with an agent you gel with and who understands your wants and needs is critical. But once you secure the right agent, you'll truly understand why it's worth it.