Seller Resources - Articles
Selling a home can be complicated, but here are some valuable resource articles that may be helpful for you as you are going through the home selling process. These articles cover the basics from understanding how Appraisals & Market Value works, how to price the homes and common mistakes, and preparing for the paperwork process that goes along with this life changing financial decision. For assistance or quick answers to your real estate questions, give a call to (239) 491-2430 or
OVER PRICING A HOME CAN COST YOU $1000s
Find out how to avoid pricing mistakes. When you want to sell a home, it is essential to find out what others are willing to pay. Sometimes when the listing price is higher then the home worth, the seller ends up losing more in the end after having to lower the cost too often.
COMMON Q&A ABOUT SELLING YOUR HOME
Selling a home is already stressful on your own. This article helps with some Frequently Asked Questions and explanations of real estate verbiage.
Whose obligation is it to disclose pertinent information about a property? In most states, it is the seller, but obligations to disclose information about a property vary. Under the strictest laws, you and your agent, if you have one, are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to you.
Is there a secret to good negotiating? There are several cardinal rules to negotiating effectively. One is do your homework, and learn as much about the seller or the buyer as you can. Another is to play your cards close to your vest and not reveal too much information to the other party or their agent.
PRICING THE HOUSE TO SELL
What is the difference between list and sales prices? The list price is how much a house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions.
Where can I learn more about appealing my property taxes? Contact your local tax assessor's office to see what procedures to follow to appeal your property tax assessment. You may be able to appeal your assessment informally. Mostly likely, however, you will have to go through a formal tax-appeal processes, which begin with an appeal filed with the appropriate assessment appeals board.
What is seller financing? Seller financing is when a seller helps to finance a real estate transaction by taking back a second note, or even financing the entire purchase if the seller owns the home free and clear. Usually sellers do this when a buyer has difficulty qualifying for a conventional loan or meeting the purchase price. Seller financing differs from a traditional loan because...
SELLING AT A LOSS
When does foreclosure begin? Lenders will initiate foreclosure proceedings when borrowers become delinquent in their mortgage obligations, usually after three payments are missed. The lender will then notify the borrower in writing that he or she is in default. The lender can request a trustee's sale or a judicial foreclosure, in which the property is sold at public auction. A borrower can cure the...
Can a home seller sell a home for less than its mortgage? Yes, in some case you can sell your home for less than what you still owe on the mortgage, but this is complicated and depends on the lender. This situation is known as a "short sale." Sometimes a lender will be willing to split the difference between the sale price and loan amount, which still must be paid. A short sale may be more complicated if the loan has been...