This will pay multiple dividends.
Have a home inspection. If the contractor calls for a roof bid or a heating contractor inspection, get it. (Your agent can give you recommendations.) By doing these simple, inexpensive items you will accomplish two things.
First, the buyer will make his offer with confidence that he knows what he is buying. He will see the reports and know what to expect regarding the physical condition of the property. This frequently will generate an offer that might not otherwise be there.
Secondly, by getting bids from reliable contractors on work that a buyer may expect, you will have a basis for negotiating these items.
If you rely on the buyer to obtain these bids, they could very well be used for negotiating the price or obtaining other concessions. Without your bids you wouldn't know whether those obtained by the buyer were inflated or legitimate.
#4 - Make Your Home Available
While we all love our privacy, especially at home, when your home is on the market, it is a good time to be social.
With larger inventories in our current market, permitting your home to be shown easily can reap rewards. Whether it is a lockbox, appointments or a combination of both, the more easily a buyer's agent can get their buyers into your home, the more likely you will receive an offer, maybe two.
Having your home in "showing condition" as well as being available, has become so important and valuable, that many Realtors encourage their sellers to move out of the family home during the time the property is being marketed. This may very well bring you a better offer more quickly.
#5 - STAGE YOUR HOME
The studies have been done and the results are in. Having your home professionally staged will bring you a higher sales price then if you don't. It will also sell faster!
BUYERS
#6 - GET PRE-APPROVED
It has become much harder to obtain financing since the '08 crash. The benefit of having your offer taken seriously, even if lower then the seller hoped for, will be enhanced by having a letter indicating that you are fully approved for the loan you need to purchase the home.
The letter I'm referring to is one that comes as a result of the lender having a credit report done for you as well as verifying emplymenet and savings.
Real estate agents know how many transactions fall apart because the buyer can't qualify under present lending guidelines. To know that there is a buyer capable of closing will gain you an ally when the negotiations get tough.
#7 - LATE BREAKING NEWS - BUY NOW!
The federal government has just modified and passed a tax credit bill for not only first time home buyers but repeat buyers as well. Here is what the California Association of Realtors released today:
Dear C.A.R. Members:
More good news for consumers, our members, and the housing market recovery. Following the Senate’s favorable vote yesterday, the U.S. House of Representatives just voted 403 to 12 to extend the home buyer tax credit, expanding the parameters to include existing homeowners and not just first-time buyers. As you may know, C.A.R. and our partners at NAR have worked for months urging Congress and the Senate to extend and expand this crucial piece of legislation. We expect President Obama to sign the legislation in short order.
As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.
Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.
Nationwide, more than 1.4 million first-time home buyers were given the opportunity to become homeowners as a result of the Federal Tax Credit for First-time Home Buyers. We expect that number to increase dramatically in the months ahead with this new legislation in place. Thank you to our members who called, wrote, and e-mailed their congressional representatives and voiced their support for the home buyer tax credit. Your voices were heard – today’s vote is a direct result of your actions and involvement.
Sincerely,
James Liptak
2009 President
CALIFORNIA ASSOCIATION OF REALTORS®
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