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When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace including price, financing and terms of competing properties. These are key factors in a successful sale of your property at the best price in the least amount of time.
Your REALTOR® can help you objectively evaluate every buyer's proposal and then help write an appropriate legally binding sale agreement. Between the initial sales agreement and settlement, questions may arise. For example, unexpected repairs may be required to obtain financing or a problem with the title is discovered. Your REALTOR® is the best person to help you resolve those issues and move the transaction to settlement.
Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. They are committed to treat all parties to a transaction honestly. REALTOR® business practices are monitored at local board levels. Arbitration and disciplinary systems are in place to address complaints from the public or other board members.
Why work with a REALTOR®?
I will analyze the data you provide and get back to you with comparable sale information for your neighborhood and a range of approximate values for your property. If you need a more precise valuation estimate, I will arrange to tour the property with you. All information you provide will be kept strictly confidential.
Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ. For buying and selling purposes, appraisals are usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.
Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value. Appraised value doesn’t take into account special considerations, like the need to sell rapidly. Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.
*Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com
Thinking about selling?
Home Selling Tips
A Comparative Market Analysis (CMA) is essential to determine the value of your home. Location and characteristics of the property are the key elements in determining value. Therefore, the basis for valuation is similar properties in your area.
The market analysis takes into account the amount received from recent sales of comparable properties and the quantity and quality of comparable properties currently on the market. The desired end result is to find a price that will attract a willing and able buyer in a reasonable time.