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Home Sellers Guide

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  • SELLING YOUR HOME WITH A MONTENEGRO REAL ESTATE AGENT

Your home is more than an architectural structure. It is an extension of who you are, representing your personality, style and values. That's why selling it can be such an emotional experience. But it can also be exciting and rewarding.

With the help of Montenegro Real Estate your transition from the emotional decision to the objective planning phase will go by arming you with key information about the home selling process. The four major steps in selling a house are:

Planning the sale Understanding the market Getting your home ready to show Closing the deal

Make note of your questions as you read this webpage. Montenegro Real Estate real estate agents are familiar with every aspect of the real estate transaction and can answer any questions or concerns you may have.

  • PLANNING THE SALE

Although selling is generally less complicated than buying a home, you'll still need to do some homework and planning to ensure you get top dinar on the sale. Here is a summary of the process:

Select a sales associate right for you. Sign the listing agreement. With the help of your sales associate, review the latest real estate market trends and determine the right selling price. Estimate the amount you'll make from the sale. Review financing options available to potential buyers. Arrange for inspections. Make any necessary repairs. Get the house in showing condition. Review the offers your sales associate presents to you. Close the deal.

  • SELLING WITH A Montenegro Real Estate PROFESSIONAL AT YOUR SIDE

Once you've decided to sell, your next step is to hire a real estate agent to help sell your house. Given the complex personal and financial decisions involved, enlisting the help of an experienced and objective real estate professional can save you time, frustration and potentially thousands of dollars.

Some consider selling their home on their own. If so, ask yourself the following questions: Are you prepared to buy advertising space? If not, can you afford the time it will take to sell your house with only a sign in the yard? Are you willing to stay close to home for days, weeks, maybe months to show your house? Do you know the up-to-date ways to market your home on the internet? Do you possess the necessary knowledge to answer buyers' questions, negotiate a contract or close a sale?

If you answered "No" to any of these questions, perhaps enlisting a Montenegro Real Estate real estate agent to help would be the most efficient way to sell your house. A Montenegro Real Estate agent may provide the following services:

Access the Listing Service, which exposes your house to all cooperating member brokers. Assist with pricing the house properly based on Comparative Market Analysis. Provide a detailed marketing plan. Screen potential buyers for financial qualifications. Expose your home to potential buyers on www.montenegroreal.estate, Provide suggestions for making your property more attractive to potential buyers. Show your home, with your permission. Answer buyers' questions. Present all offers. Negotiate on your behalf. Facilitate the closing process.

SELECTING THE RIGHT REAL ESTATE OFFICE

When it comes to selling your home, making informed decisions is essential. That's why it's so important to work with a top caliber real estate company with a strong track record and an experienced real estate agent who will listen to your needs and walk with you every step of the way.

As the world's largest real estate sales organization with approximately 8,800 independently owned and operated franchised broker offices spanning over 60 countries and territories worldwide, the Montenegro Real Estate System has the track record, marketing experience and top-notch real estate agents you're looking for. We'll not only guide you and advise you through the process, we'll work hard to get you through your closing smoothly. We look forward to working with you!

SELECTING A REAL ESTATE AGENT

Since you'll be working closely with your real estate agent, it's critical that you not only select someone who has a great selling record, but also someone with whom you are comfortable and trust. Look for a solid track record, but also a professional manner and one who listens to your needs.

Ask friends and neighbors who have recently sold homes for recommendations. Then check the selling history and credentials of any prospective real estate agent. Interview them about the techniques they would use to price and market your home. Find out how accessible they are. Do they have voice mail, e-mail, a cell phone, a laptop? Ask them "their" marketing plan to sell your home. And most importantly, make sure you "click" with the real estate agent's personality.

After choosing a real estate agent, supply all the information you can about your home. The sales professional will be asked questions by potential buyers about taxes, utility bills, age and condition of appliances, insulation, room sizes and a variety of other subjects. Don't omit anything, especially any defects in the condition of your property. Failure to disclose all defects could leave you exposed to lowering the price of your property.

  • LISTING THE PROPERTY

A listing agreement is a personal service contract between you and a licensed real estate broker describing the property to be sold and the terms under which it is to be sold. You are appointing a broker to market the property for a specified length of time and agree to pay them a commission for bringing an acceptable offer from a buyer.

You'll also be asked whether you want the property to be advertised only by the listing broker (under an "Exclusive Right to Sell" agreement) or whether to allow other sales associates to advertise it. An exclusive agreement is the most popular because it provides more incentive for one broker to focus on your specific goals. PRICING YOUR HOME TO SELL

Properly pricing your home is perhaps the most crucial factor in making a sale. If you set your price too low, you could lose thousands of dollars. If it's too high, you may discourage potentially qualified buyers and risk having your home sit on the market.

The "right" price involves striking a balance among the maximum amount the current housing market will allow, your "competition" and your own time limits in selling. Although the greatest amount of buyer activity typically occurs during the first three to four weeks, a reasonable time frame for selling a house may be longer. If a house is on the market too long, potential buyers may avoid the house, wondering if something is wrong with it.

So how do you determine the right price? Start by asking your Montenegro Real Estate agent to prepare a written Comparative Market Analysis for you.

  • UNDERSTANDING THE MARKET

Although you set the asking price, buyers determine the value. They'll compare your home and your asking price to similar homes. If your price doesn't stack up, they'll quickly reject it and move on to the next listing. That's why your first step in determining the right price for your home is to have an experienced real estate agent prepare a Comparative Market Analysis report for your home. The report provides details on recent sales of homes similar to yours, as well as the asking price of homes currently on the market.

Once you've done your homework on the marketplace, you'll also want to consider the factors listed below that may add to or detract from the value of your home. With these factors in mind, you should be able to determine a fair price for your home:

LOCATION:

What are the tradeoffs and advantages of your property? Is the house located on a busy street or is it on a cul-de-sac? Look at both the area in which it is located as well as the neighborhood.

FEATURES:

Does your house have specific features that set it apart from others, such as a spectacular view, a three-season porch, vaulted ceilings, etc.?

CONDITION OF THE HOUSE:

Has the house been adequately maintained? Are there minor or major repairs that could make a difference in the immediate sale of your house?

AGE OF THE HOUSE:

Potential buyers will want to know the age of the plumbing, furnace, roof, appliances, etc. If anything has been replaced, this could add to the value of your property and the sale price.

THE CURRENT MARKET:

Is today's market a buyer's market or a seller's market? A "buyer's market" means there are several similar houses for a buyer to choose from. Usually, interest rates are attractive, and prices are steady. A "seller's market" is the opposite. While interest rates may be low or high, housing prices are on the rise, and there are few houses to be sold.

YOUR TIME FRAME:

How long do you have to sell the house? What was the average time on the market for a comparable home? Can you wait while a buyer arranges financing? Does your purchase of another home depend on this deal closing quickly?

ESTIMATING YOUR BOTTOM LINE

Before you sell, it's important to estimate the various expenses for which you'll be responsible that will affect your bottom line. In addition to the mortgage pay-off amount, any early pay-off penalty and the expense of home repairs you'll need to make before listing your home on the market, you'll be responsible for various closing costs including real estate commissions, repairs, transfer taxes and prorated property taxes. Closing costs vary from area to area. Your Montenegro Real Estate agent can provide an estimate of your settlement costs, but you should ultimately consult your legal or financial professional. There may be tax implications related to the sale of your home. Tax information is subject to change. You should consult a tax professional specializing in real estate matters in advance.

REVIEW BUYER FINANCING OPTIONS

When the time comes to negotiate a sale, it is best to be aware of current financing available to the buyer. With the help of your Montenegro Real Estate agent, review the mortgage climate. Are loans in abundance or hard to obtain?

Does your property qualify for the Federal Housing Administration? Is your current loan assumable? Does the buyer expect you to pay any of the discount points connected with the cost of this loan? Determine your time frame in waiting for financing to be secured by the buyer, including the alternatives.

PRE-LISTING INSPECTIONS

To protect yourself from any potential liability, you may want to obtain a professional pre-listing inspection report to accurately disclose any health and safety concerns or adverse conditions regarding your home. To find a good inspector, ask friends and business associates for referrals or get recommendations from your Montenegro Real Estate agent.

  • GETTING YOUR HOME READY TO SHOW

To get top euro and sell quickly, you must prepare your home and property so that it's in top-notch, move-in condition. Take a look at your house as if you were seeing it for the first time. You may not notice crowded closets and untidy flower beds, but potential buyers will. CURB APPEAL

First impressions are hard to break, and the way your home looks from the street ("curb appeal") can make or break the sale. Does it look a little dingy or dull? Give it a face-lift with a good old-fashioned paint job or power wash. Keep the grass mowed and the weeds pulled. Trim trees and bushes. Plant flowers to add a touch of color. Replace a weather-beaten mailbox, and add visual interest by positioning rocks and potted plants around it.

Remove grease or oil spots in your driveway. Make sure your doorbell works. Repair torn screens. Clean outdoor light fixtures. Repair loose roof shingles and fill cracks in the walk and driveway. And once the potential buyer is out of the car, continue the allure with a friendly front door. Restore its luster with a few coats of varnish or spiff it up with a rich, new accent color. In other words, make your entire property a showpiece. HOME STAGING FOR SUCCESS

They're ready to open the door. Is your home in order? Start by getting rid of the clutter (don't forget the garage), leaving a blank canvas for buyers to fill in with their own ideas. Clear out closets and cupboards. Remove knickknacks from tables, countertops and bookshelves. Remove all unnecessary furniture to make your rooms seem more spacious. Brighten rooms with a fresh coat of paint. Choose neutral shades of white, off-white, beige or light pastels that will coordinate with most decors. Give your home an open, airy feel by opening the curtains and pulling up the blinds. Turn on as many lights as possible.

Kitchens should be absolutely spotless. Pack up all excess kitchen appliances. Clean the oven inside and out. Run a lemon through the garbage disposal for a fresh smell. Make sure all appliances are working. Remove magnets from the refrigerator door.

Bathrooms are just as important. Remove stains from bathroom fixtures, repair dripping faucets and polish mirrors. Add sanitizers to toilet bowls and keep lids down. Wash and fluff bathroom rugs, hang fresh towels. Potpourri and scented soaps add a nice fragrance to the air.

And as a final touch, appeal to the home buyer's senses by playing soft background music while people tour your home, and baking cookies or bread just before they arrive.

Ask your Montenegro Real Estate agent for additional tips on getting your home ready to sell. Also, let your Montenegro Real Estate agent show the house. He or she knows the business and will present your property to its best advantage. Plus, potential buyers usually feel more comfortable when the owners are not present.

  • CLOSING THE DEAL

When someone prepares an offer, they advise your Montenegro Real Estate agent who then makes an appointment to present it to you (all offers for your property must be presented to you).

Your Montenegro Real Estate agent will counsel and advise you, but the final decision will be yours. Review every offer, comparing the financial qualifications and readiness of each buyer. You may either accept an offer as is, reject it or make changes and sign it back to the purchaser to see if they are willing to accept your changes. In turn, the buyer then may either accept your changes, reject it or come back with a counteroffer. This process continues until a deal is agreed upon or negotiations are terminated.

Rest assured that your Montenegro Real Estate agent will be armed with information to help you negotiate the best deal. And for your protection, a deposit can be collected from the buyer prior to any acceptance of the purchase offer. A written agreement stating all conditions of the sale will be signed by both parties.

Now comes the time to sit back and be patient. The buyer is busy arranging mortgage financing. The real estate company and the title company are beginning to accumulate data and prepare documents. Your Montenegro Real Estate agent is tracking the progress of the sale. It's a good time for you to take a breather and start thinking about the next big step – moving into your new home.

Final closing day will be scheduled when all the steps are completed. Closing is when you and the buyer sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Once you present an executed deed to the buyer and receive the check in the amount agreed upon, your house is successfully sold!

  • MOVING

Whether you have moved once or dozen times, it never seems to get any easier. Here some hints that we hope you will find helpful as you prepare for moving day.

Make agreements. With buyers about possession of the home and moving date. Having sellers and buyers meet on the front walk – each with house full of furniture – is not a happy situation.

Make a list on any important items you will need to buy for your new house. Examples: draperies, blinds, shower curtains, etc. having these things with you on the day you move in prevents unnecessary surprises.

Start packing early. Anything that you are sure you will not be using before moving day should get boxed.

Mark every box and carton. Again, it makes it much easier if you need an item before you moce, and makes it much simpler after you move. Unpacking will probably be somewhat of a gradual process – this way you know where the most necessary items are located.