Home Sellers have varied motivations for selling; employment change, downsizing, upsizing, being upside down on their mortgage, investment exchange (yes, even in this market) and knowing the way buyers work in today’s market is important information for the seller.
Over 88% of buyers now start their search on the internet, and are tech savvy. This is a good reason to be sure your realtor who is marketing your home is tech savvy as well. The more search engines sites that your realtor can access, the wider and broader becomes the exposure of your home to the outside world. In Santa Barbara we have a very good pool of local buyers, with the added bonus of buyers from throughout the world.
Seller’s should be aware that there are a variety of disclosures that they will want to familiarize themselves with including:
- Seller’s Transfer Disclosure Statement
- Seller’s Property Questionnaire
- Statewide Buyer and Seller Advisory
- Water Heater, Smoke Detector, Mold and Lead.
These are a few of the disclosures that a seller is required to fill out to complete their transaction with a buyer. It is always a good idea, when getting ready to sell your home, to call your realtor and ask them for a copy of all the contracts, the listing contract, agency, listing information forms, so that you can review them at your leisure. They are extensive an SHOULD BE READ IN FULL so that you understand them.
CHECK THE STATISTICS. The current listings, the listings in escrow, and the sold listings are your barometer for what is going on in your market. I post the 60 page monthly statistics on my website at www.barbarareaume.com , so you can evaluate what the market you are in is doing, not what the market in another city in California is doing.
To understand where your home is in this market, a comparison of the neighborhood and lot size, square footage of the home, upgrades and condition, age and floor plan is called a comparative market analysis. This is a free report for the homeowner, using the technology available to realtors today to evaluate and position the seller’s home for a response from buyers that culminates in an offer. If an offer is not forthcoming, the seller and the realtor need to get together again and reposition the home to solicit offers. You can’t sell your home if you do not have offers coming in.
Sellers who are upside down on their mortgage or are not able to make their mortgage payments, have a wealth of information to access to help them through the processes required to make decisions. Also check the HAFA and HAMP sites on Google. I have several articles on my website at www.barbarareaume.com, and if you do not find the help or information you are looking for, email me at [email protected] or call at 805-610-5403.
Information is key in this market and I am always ready to give you as much information as you need to make the decisions that will bring about a successful conclusion to your real estate needs.