| Planning Your Strategy | ||
| Marketing your house effectively means first getting an overview of all the elements involved, then fitting the pieces into their proper places. Your first step is to formulate a strategy for putting your house on the market: what services to expect from your real estate agent, how to set your asking price, and how to estimate the net proceeds from your sale. How do I develop the best possible "selling strategy?" Your first step is a meeting with your agent at your house to go over every part of your house, noting its floor plan and special features. You'll discuss any repairs and improvements, which might increase the marketability of your house. These repairs may bring you back more than they cost you and are likely to help sell your house faster. Your agent will compare your house with those previously sold. That helps you arrive at a competitive asking price. Your agent will discuss different financing possibilities that may be useful to buyers who look at your house. Your agent will also go over financing costs to both you and a buyer, and help you estimate your net proceeds from the sale in each case. How can I determine how much cash I will walk away with from the sale? During your listing appointment, your agent will help you set a listing price for the property. Based on that price, your agent will be able to give you an idea of your expected expenses and your estimated proceeds-or net "walk away" cash. Your agent begins with the sale price and then substracts anticipated costs, such as escrow fee, title fee, taxes, broker's commission and, typically the largest of all, paying off the old mortgage balance. The bottom line is your net cash. Remember this exercise is only a ballpark figure based on estimated costs and sale price. Any changes in the figures will affect the bottom line on the actual sale. If you have any real estate questions, feel free to give me a call at 800-221-9998x122 or email me. | ||
