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LAWTON, OK. USA

1-580-355-4545

Charles Barger, Managing Broker

charles@areok.us


Market Ready
Price It Right
Best Offers
Contract to Closing

Frequently Asked Questions

 


Frequently Asked Questions

Q: What home improvements yield the greatest value?

A: Improvements that enhance curb appeal, fresh paint and landscaping will attract potential buyers and help secure more showings. Once inside, home buyers are looking for function, durability and convenience. Minor kitchen remodels and additional bathrooms give the greatest return, followed by family room additions and bathroom remodeling. Additions and remodeling should be done by professional contractors and should be consistent with the rest of the house. The existing structure must be able to accommodate changes. Give special consideration to mechanicals. Take advantage of new technologies that will update lifestyle as well as the home.

Q: When is the best time to sell?

A: There is no "best" time. Generally the market is most active in the spring, but inventory tends to be greater. Home sales tend to slow down from November through the winter, but buyers are serious and motivated. Dropping interest rates, stock market fluctuations, weather, and politics may impact home sale activity. Local economies strongly influence home sales. Employment growth and stability will affect consumer optimism and spending. Homeowners that need to relocate because of corporate moves or job changes have special concerns. To determine the best time to sell, evaluate your marketplace and your personal situation. Remember there are always buyers who need homes.

Q: What is the best way to sell for top dollar?

A: You only get one chance for a first impression, be sure to make the right impression! Your home should be in premium condition. Homes placed on the market prematurely usually sell for less and take longer to sell. Prospective buyers remember a home the way they see it. Buyers are attracted to a home by the way it makes them feel. Few buyers have the ability to visualize how a home might look. Make all the necessary repairs. Clean, paint, organize, and neutralize. Hire professional contractors if needed. It can be hard to get a buyer to come back for a second look after the work is completed. Price it right the first time. The theory price high you can always come down is costly. It is a known fact that the longer a property is on the market the lower the offers tend to be. Price and condition are the two most important factors in selling a home.

Q: How will I find a buyer for my home?

A: According to the National Association of Realtors 82% of home buyers surveyed responded that they relied on a real estate broker/sales associate as a source of information during their home search. Print advertising media was cited as being used about 50% of the time, followed by for sale signs. Recent research indicates over 3/4 of home buyers will use the internet as a source of information. It is critical to have a marketing strategy with comprehensive repetitive exposure to potential buyers and real estate sales associates in order to reach potential buyers

Q: Should I use a Real Estate Associate?

A: Yes. Selling a home is a complicated process. Your associate can assist you in developing a pricing strategy that is consistent with the market. A real estate associate will have a network of professionals including lenders, appraisers, accountants, inspectors, attorneys, title companies, insurance agents, and contractors to assist you in a smooth transaction. A real estate associate will provide a marketing program that will give you consistent exposure to capture more showings. A real estate associate will provide you information, feedback and guidance that will assist you in finding the buyer for your home. A real estate associate will help you negotiate a purchase contract and will manage the transaction from contract to closing. Select an associate with expertise in your area. Select an associate that demonstrates knowledge, and integrity. Ultimately an associate will save you time, energy and money.

Q: How is the asking price determined?

A: Value can be determined in several ways. A real estate associate can suggest a pricing strategy based on comparable sales and competitive homes on the market. This strategy will attempt to identify the most likely price a home will bring at a given time. A professional appraisal is an opinion of the worth of a home based on the homes size, condition, amenities, and comparable sales. Beware that pricing is not distorted by an appraisal that is done for purposes other than selling the home and a pricing strategy that is proposed by an associate trying to "buy" a listing with an inflated asking price. Only the market can determine what a home will sell for.

Q: If I sell For Sale By Owner will I save the commission?

A: Not necessarily. A buyer will assume that the price will be reduced by the commission. A real estate transaction is a complicated process. Many do-it-yourself buyers and sellers have found the cost of a poorly managed transaction to be far greater than the perceived commission savings.

Q: Should I find a new home before I sell the one I own now?

A: If you do not sell your present home first, you must qualify to carry the debt of both properties. Budget conservatively in the event you have to make double payments for an extended period of time. Weigh the pros and cons. If you buy first you will know where you are going and how much it will cost. If you find a buyer first you may have more negotiating power on both your current home and the one you want to buy, and you will not have the pressure of double payments.

Q: Should I have an appraisal, inspection and home warranty when I put my home on the market?

A: A fee appraisal for the purpose of selling can reinforce pricing strategy or help determine value. It may give additional leverage in negotiating if it supports the asking price. Pre-sale home inspections can uncover potential problems. The seller has control of the remedy and the buyer will have prior knowledge of any defect prior to negotiation. This may eliminate the need to renegotiate accepted contracts. Buyers should view the pre-inspection as an opinion not a guarantee. Encourage buyers to get an independent inspection report. Sellers who obtain a home warranty when they list the property will have the advantage of coverage for unexpected repairs to items included in the warranty while the property is listed. The warranty will provide value to the buyer and serves as a marketing tool. Not all warranties are alike. Compare the cost, deductible, items covered and effective dates.

Q: What should I do if my home is not selling?

A: In most cases homes do not sell because they are priced too high. Starting at a high price thinking you can always come down is a mistake. The assumption is that the buyer will make an offer. First, the wrong buyer is looking at the home. Second, motivated buyers do not waste time, they move on to what they perceive to be the best value. The property may require improvement. Make all necessary repairs and cosmetic enhancements. Realign your marketing strategies based on feedback and updated market information. Evaluate factors that may be affecting home sales and adjust accordingly.

 
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