Perform interior maintenance
Have HVAC professionally serviced.
Install GFCI outlets.
Re-caulk showers and baths as needed.
Replace all burned-out bulbs.
De-clutter & refresh
The less you have, the less you move!
Clear off kitchen and bathroom counters.
Eliminate small accessory furniture items (small bookcases, side tables, footstools, etc). Make rooms look bigger.
Repaint in neutral color or clean, fresh white.
Reduce pet paraphernalia.
Take photos and memorabilia off the fridge.
Pack away all personal items (family photos, etc).
Magic Eraser! Perfect for removing scuff marks from walls.
Professional deep clean.
Perform exterior maintenance
Clean gutters. Add downspout extensions and splash blocks.
Trim trees back from roof.
Caulk all exterior wall penetrations: hose bib, chimney, etc.
Paint and/or replace chipped or rotted window trim.
Clean windows and replace torn screens.
Install vapor barrier in crawl space.
Replace any missing crawl space doors or vent screens.
Enhance curb appeal
Fix chipped paint or weathered stain
on front door.
Add mulch to define beds.
Plant flowers to add color and pull weeds.
Rake leaves and discard sticks.
Make sure all outdoor lights work.
For every $1,000 in perceived defect, the buyer will ask for a $3,000-$5,000 reduction in asking price. Don't risk a low offer. And you want to know the issues now, not when the buyer's inspector shows up.
What is your competition?
- location + condition
How much inventory in your target price range?
- new construction vs. existing
Where are buyers in your target price range buying?
- evaluate not just your neighborhood, but areas similar to yours
How do economic factors influence the market?
- interest rates
- wages + job growth
COMING SOON MARKETING
Generating buzz before we list is key.
1. Pre-Marketing: Builds anticipation and creates demand.
2. Launch the listing twice for twice the exposure: Create TWO opportunities to launch your property, once when you announce as a coming soon and once when you go live on MLS.
3. Testing the Market: Gain valuable feedback, before it’s on the MLS. When it’s time to go live, your home will be priced and positioned to sell quickly.
4. Seller Leverage: Sellers have greater leverage in negotiations before their property is officially “on the market.”
Q: Do we have to leave when the house is being shown?
Q: How much advance notice will I get before a showing?
A: As much notice as possible, but it varies. You’ll receive a call or text as soon as an appointment is requested.
Q: How should I prepare my home for a showing?
A: Turn on lights. Open draperies and blinds. Turn on soft background music. Store pets safely out of the way and place all pet-related materials out of sight. Vacuum & sweep. Store valuables & medications out of sight.
Listing Agreement Outlines the terms, duration and listing price for your property.
Confirmation of Agency Establishes the representation for both the buyer and seller in the transaction.
Disclaimer Notice States that the real estate brokers are not home inspectors, termite inspectors, etc. Recommends hiring independent, qualified professionals for inspections.
Vendor List Furnishing referrals for Vendors is done only as a courtesy and does not constitute any warranty or representation of the vendor.
Purchase & Sale Agreement A 10 page document that is the heart of the contract. Outlines the terms of the offer including price, timelines, contingencies, etc.
Property Condition Disclosure Sellers furnish this form unless the property transfer is exempt. The seller completes the form to the best of their ability. This document does not take the place of a home inspection by a licensed inspector. You sign a copy to acknowledge receipt.
Counter Offer Counters to the original offer will be made on this form. All terms included in the original offer remain the same except for changes specified on this form.
Repair/Replace Amendment Once the home is inspected, repairs may be requested by the buyer. Once those repairs have been negotiated and agreed upon, this form is completed and signed and becomes part of the contract.
Notification Form Provides official notice from one party in the transaction to the other in writing in accordance with the provisions of the Purchase and Sale Agreement.
WE USE THE TENNESSEE ASSOCIATION OF REALTORS (TAR) CONTRACT AND FORMS FOR YOUR TRANSACTION.
There are over 100 forms available to use during a transaction depending on the nature and complexity of the deal; these are forms used in every transaction.
Have clear access to attic, crawl space, heating system, garage and all areas that will need to be inspected.
Do NOT do quick, cheap repairs to your home. It will raise questions during inspection and cause unnecessary concern to buyers.
After the inspection, the buyer will:
1. Terminate the contract and a full refund of earnest money.
2. Accept the property in its current condition.
3. Provide you with a list of requested repairs.
We can negotiate the repair requests, however if a minor repair makes the buyer happy and it holds a sale together it is usually in your best interest.
An appraisal is a written estimate of a property’s value by an independent third-party contractor based on recent sales of similar properties and the property’s condition.
1. Within 14 days the lender must the appraisal and the buyer must pay for it.
2. Appraiser contacts me for an appointment to visit house.
3. I provide the appraiser with comps and pertinent information on the house. Appraisers pull their own comps, mine are provided as a courtesy.
4. Appraiser submits report to lender.
5. Lender notifies us of results.
Title company prepares documents and orders title insurance.
Buyer’s lender prepares the loan documents and submits to underwriting.
Title company prepares and distributes Closing Disclosure (the accounting statement for the transaction).
Buyer does a final walk-thru to verify condition and any repairs.
You sign documents. Money and keys are exchanged, you’re closed!
Typical duration between contract and closing.
Typical inspection duration and appraisal period of buyer due dilligence.