Tammy Wase
Home Selling Process
"Your Neighborhood Realtor"


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Tammy Wase

 
  Direct:  410.522.7932
  Cell: 410.299.1761
 
 Fax:  410.732.3498

 0ffice: 410.675.1550

 
Licensed in Maryland, USA


Cummings
                  Realtors





 


Pricing Your Home

The first step is to be sure you establish a good price for your home. Improper pricing is the most common mistake that costs home sellers thousands of dollars.

Here is what to consider:
If the price is too high - it will sit unsold and become stigmatized as "shop-worn." On the other hand, price it too low and you may give away thousands in profit to a total stranger. Either way you lose. Finding the appropriate price sets the right stage for the entire selling process. A great benefit to you is to get in the right frame of mind for the sale.

Be objective and remember that selling your home is a business transaction, and you need to put your personal feelings and attachments to your home completely out of the equation. This is critical. Keep in mind that potential buyers are not looking to buy your home - they are looking to find a house that they can make into their home.


 
Presenting your Home
 

No matter how attractive and polished your house may be, buyers will be comparing its price with everything else on the market. Your best guide is a record of what buyers have been willing to pay in the past few months for properties comparable to yours in your area. I will produce a thorough comparative market analysis (CMA) with the data of all comparables in your area. Based on these results, we will have a good idea of what the market value of your house is. The ultimate decision regarding how much to ask, however, is strictly yours. But I strongly encourage you to not fall into the temptation of overpricing the property - as this will only cost you thousands of dollars in the long run.

REALTORSŪ don't establish value, the market does. I mention this because many real estate agents may come in here and try to buy your listing by saying they can get you more for your home. These attempts are done in hopes of securing the listing and coming back at a later date with a price reduction request - after all - you're already under contract. Remember, Realtors don't establish value - the market does.

Analyzing market conditions. A comparative market analysis also known as a competitive market analysis, a market or a CMA - differs from a formal appraisal in several ways. The biggest difference is that an appraisal is based on past sales only while CMA's may take currently available properties and those pending a sale into consideration. Another major difference is that while an appraisal can cost you several hundred dollars, I will be more than happy to furnish a CMA to you at no cost or obligation. For the most part, a CMA is probably enough to let you set the proper price.
 

Qualifying The Buyer
 

Once an interested buyer is located, they need to be qualified in the following terms: financial ability, buyer wants and buyer needs. This is not something you will be responsible for - it will be up to the mortgage lenders and the buyer's REALTORŪ. I, in the meantime, need to be on top of every detail for your sake. Anytime there is a call or contact, many details need to be discovered. Has their loan commitment come through? What conditions are on it? Has the appraisal been done? Are there any repairs needed, etc.

Remember - this may be only one of 30 deals the lender has this month - but the only buyer you have. It is my duty to make sure there is an open line of communication at all times to ensure that everything is done. You must also watch out for contingencies that could cost you time off the market. If a buyer wants to close the sale contingent on selling his or her current house, include a kick-out clause that allows you to back out of the deal within 72 hours if you receive an offer that does not contain contingencies.

 
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Last updated: 5/9/2016