Selling Your Home in the Greater Nashville Area with a Real Estate Agent/Advocate
If you’re thinking about selling your Greater Nashville home, here are a few things to consider:
Setting Your Price
Pricing will be the first thing a buyer sees. When you price your Greater Nashville home for sale, have your real estate agent provide you with a Comparative Market Analysis. This will show the homes that are currently on the market and the homes that have sold in the last six months. The six month time frame is an important one, as this is the parameter an appraiser will consider. In order for a buyer to get a loan, the lender will require that is appraise for the purchase price. Updating, condition, location and functionality of floor plan will be important components in this decision.
Have your Greater Nashville real estate agent put together a “net sheet” showing what your estimated net return will be upon closing. You will want to be sure to have your current loan balance to figure into the equation. Don’t make the mistake of “testing the market” with a higher price. This will result in a listing that stays on the market too long and gets “stale”. Buyers then draw the conclusion there must be something “wrong” with it. Sometimes they will assume if the home is priced too high, the seller will be hard to negotiate with and the listing will be passed over.
Ready for that CMA?
Getting Your Home Ready to Show
Consult with your Greater Nashville real estate agent to discuss what changes need to be made to show your home off in its best light. Furniture may need to be moved and/or removed to make the spaces look bigger. Always take down all person items. Photos, diplomas, books indicating your profession, etc. should be taken down. You don’t want the buyer to be distracted by the decor which deters them from focusing on the house itself. Cleanliness is a MUST!
Be sure all bathrooms are spotless and toilet seats are down. Any shortcuts will work against you in this competitive market. Closets need to be free of clutter and show the space. You may need to pack up seasonal clothes and store them. Buyers need to be “wowed” from the street. Include fresh mulch with your mowed and edged yard. Add some flower color accent, if possible. When a showing is scheduled, plan to be gone. If you have pets, take them with you, if you can. The buyer will fell more free to spend the time needed to decide if your home is the one for him.
When an offer is received, your real estate agent will review the terms with you. This will include offer price, any sale of home contingency, inspection time frame, earnest money, the financial strength of the buyer and closing date. Based on the offer, have your real estate agent give you an estimated “net sheet” to see what your actual proceeds will be. If you are planning to purchase another home and move directly to it from his one, your Greater Nashville real estate agent will be priceless in coordinating deadlines and smoothness of this detailed process.
When you listed your Greater Nashville home for sale, you filled out a Seller’s Disclosure. In this document, you listed all pertinent information about the home. This includes any water intrusion or defects that you are aware of. When the buyer’s inspector schedules his appointment to inspect the home, I suggest the seller not be present. You have already disclosed everything you know about the home. This is the time for the inspector to do his job from an objective viewpoint.
A few days after the inspection your agent will review with you a list of requested repairs to be done before closing. This is a negotiable list. Once an agreement has been reached, you need to ensure repairs will need to be completed in a professional workman like manner. Receipts for work will be forwarded by your Greater Nashvill real estate agent to the buyers agent. This will get the “housekeeping” items off your plate and let you focus on the closing itself.
Your real estate agent will monitor financing deadlines per the contract. This ensures the buyer is performing as promised and the process is “on track”.
Getting Ready to Close
The real estate agents will coordinate with buyer and seller, the transfer of utilities and the date for action. Title company for the seller will be chosen by the seller at the time the contract is binding. If you do not have a title company, we can recommend several to you. The title company will put together a HUD-1 statement showing the financials and bottom line. This occurs when the loan package is sent to the title company from the lender.
We always want to see this document as soon possible. The perfect target is the day before closing to give time to review the numbers and make any adjustments necessary. This will be forwarded to the buyer and seller for review before closing. The only thing left to do is sign documents at the closing table and pass the keys on!
Home Seller Reports
- The Right Selling Price Affects Your Bottom Line
- Avoid the Most Common Selling Mistakes
- Selling Your Home, Where to Begin
Your Advocate in the Greater Nashville Real Estate Market
We help our clients understand the ever changing real estate market with the goal in mind of making informed, forward thinking choices. Whether you’re ready to buy in the Greater Nashville area or you’re thinking of selling, The Linda Seaton Team is your real estate advocate! Give us a call to discuss your real estate needs or even easier – just drop us a note right here.