Decide to Sell: Sometimes it’s easy to know you’re selling….. new job, family expansion, downsizing, change of income. Other times it’s just a consideration.
#Str8RealEstate grants you the knowledge of a perfect sale and provides proper support to help you through the sales process today, tomorrow, next year or next decade. Participating with #Str8RealEstate and actively using the information and resources provided may save you the expense of a full service real estate service.
Do I use a Real Estate Agent? Arguably the best thing about deciding to sell a property yourself is no listing contracts with a real estate agent. Top tier agents enter their sellers in contracts from 6-12 months, have cancellation fees as high as 1% of your agreed listing price and may require a reimbursement of any marketing expenses. Obviously, no agent, no obligation to these fees and a third party person to relay on. That being said, someone doing a task full time verses part time may yield a better result. In the end it’s decision of the cost of your time. I suggest to start the process without any real estate agent and only introduce their services in the event they represent a potential property buyer.
The real professional you do need to complete a sale is a state licensed attorney and or a Title Insurance Company. When considering to sell visit your County’s #Str8RealEstate Legal and Title Agent Partners and pick their brain about the process and basic expenses of a sale as they pertain to your state and local customs and regulations. Keep in mind, this person is the final piece of the puzzle that expedites and records the sale as final in your local county courthouse so it’s good to get a soft introduction conversation out of the way early on and set some basic expectations to follow through to. When done correctly this 5-20 minute chat time will fast track your understanding of the basic process to properly sell residential real estate in your immediate area.
Good Title Insurance companies are owned by state licensed attorneys.
Title Insurance is a good thing to have. Who pays for title insurance is another story and is subject to negotiation. Check out the story behind Title Insurance via Wikipedia and decide for yourself if you feel it necessary in your sale. Be aware that some buyers will be very admit about having such an insurance policy and they have every right to be.
Your initial visit and consultation with a title attorney/agent should leave you with a good understanding of what closing expenses will be. If you’ve engaged this meeting before truly understanding the value of your property to sell be sure to break down the expenses as a ratio against $100,000. Here in Florida a seller can expect closing expenses to average 1.8% so every $100,000 of value can expect to encumber $1,800~ish in state, local tax and handling fee expenses. Having this expense ratio in check will be handy when pricing and negotiating your property sale.
#Caution: Be leery of any buyer and seller who feels uncomfortable using a proper licensed Attorney. If this is the case I strongly suggest cancelling any deal you may have and find another buyer/seller to deal with.
#SellerBeWare: People have good memories when it comes to their community and you don’t want to develop a reputation for being an owner who’s always playing with the market. It’s ok to let people know you have a number you’d sell at if you were to get it, but it’s not cool to advertise a property for a fair market price only to not sell again and again. Don’t be the seller who cried wolf.
Str8 ReaL estate is designed to empower you to be able to sell your property in any market at anytime. Knowing the 11 Step Str8 ReaL estate Selling Method should make it easy for you to decide when and how to sell any property you own.