Seller FAQs
The process of selling your home may be one of the most challenging endeavors that you may ever encounter. Constant swings in the housing market, competitive companies with traditional real estate agents vying for the business of selling your home; savvy agents representing Buyers trying to obtain the lowest possible price for their clients; appraisers, home inspectors, warranty companies, construction contractors, closing agents, title companies and lenders, all trying to make the most money from selling your home; make the home selling process one of the most complex and financially dangerous propositions that you may ever attempt.
Naturally, the savvy seller will educate themselves on the local market and the overall climate for home sales in their market area. Here are a few of the most common questions potential sellers may ask prior to making the final decision to sell.
- Is this a good time to sell my home? Real estate markets are in a constant state of change. In many instances, they change thru predictable cycles, in other instances they may change suddenly either in a negative or positive manner (i.e. as a result of a natural disaster or economic downturn). The reasons that you may sell your home fall within two categories – you want to sell or you have to sell. Generally, the two most common reasons for “wanting to sell” your home is to relocate or change the size home you wish to reside in. Even in today’s housing market there are “pro’s” and “con’s” to wanting to sell your home. The “pro’s” of selling your home today is that you may be able to acquire your next home at below the actual fair market value. Conversely, selling your current home may also require you to accept a price that is equal to or less than the price you paid for it. Plus, you will incur the cost of selling and the inconvenience of the selling process and a substantially long selling period.
If you are required to sell your home due to economic or social circumstances your choices are extremely limited. Bankruptcy should be your avenue of last resort, so called “short sales” may be an albatross way into the future, and waiting for the highest and best offer may be time prohibitive.
In summary, we would recommend that if you do not have to sell your home today, don’t do it. There will be a point in time in the near future where it will still be a Buyer’s market and the ease of selling your home will be greater than it is today.
- How do I determine the most appropriate sales price for my home? You, working in partnership with our staff will determine the most appropriate sales price for your home. Two components will help us make the determination. These components are the objective factors and the subjective factors associated with your home. The objective factors consist of the housing market data (comparable sales prices, days on the market for comparable homes, size, number of bedrooms, schools, etc,) that is available to our staff and the expertise that we have for evaluating the data. The subjective factors are often better evaluated by the home seller. These factors consist of the memories and the sense of attachment that you and your family have for your home and the sense of value that these memories have created. Combining these factors in a conscientious and thoughtful manner will allow us, working as a team, to determine the best sales price for your home.
- Why would the Buyers Agent of Nashville & Middle Tennessee be the best agency to help me sell my home? The Buyers Agent of Nashville & Middle Tennessee is unique in our approach to home selling in that we use many of the techniques used by the large, high profile traditional firms plus we add to the process the goal of “making you a better home buyer “during your next home purchase. By combining the process of selling your home and buying your next home we may be able to save you several thousands of dollars in fees and expenses in addition to obtaining the highest price for the home you are selling with the lowest process for the home you are buying. In addition, our staff will never change their contractual relationship with you whether you are a Buyer or a Seller. We will only represent you and never will we become a Facilitator or an agent representing you and simultaneously the person with whom we are negotiating.
- How long will it take me to sell my house? The length of time that it takes to sell your home should be considered to be that period of time from the day the home is officially listed for sale on our web site and through the multiple listing service to the date that the buyer’s loan is closed and the Buyer takes possession of your home. This period of time is influenced by the type of home you are selling, the asking price, your willingness to negotiate, the location of the home, the time of year, and many more variables to numerous to mention. But in general terms, a home in today’s housing market that is appropriately prepared for sale should sell in the time frame of thirty day to 180 days.
- Is it a good idea to sell and buy my next home simultaneously? In general terms, it is not a good idea to buy your next home before you sell your current home. Most Buyers cannot afford two mortgages and many mortgage companies will not approve the concept of a family having two mortgages at the same time. Consequently the timing and coordination of selling your home and buying your new home must be a finely tuned process. As specialized Buyer’s Agents, we consider ourselves to be the premier agency in the Middle Tennessee area at protecting our client’s interest during the process, eliminating surprises and making the entire process as satisfying as possible.