FAQ’s
Sellers Frequently asked questions
HOW DO I SET THE “BEST” SELLING PRICE FOR MY PROPERTY?
When selling your home, setting the right price is absolutely critical to your home selling success. A home is only worth what a ready, willing, and able buyer is willing to pay for it. Request a Comparative Market Analysis (CMA) — a background and analysis that helps determine a fair market value for your home. Be prepared to price your home based on current data and not an emotional attachment.
WHY SHOULDN’T I PRICE MY HOUSE A LITTLE HIGH, SINCE I CAN ALWAYS DROP THE PRICE LATER?
That’s a strategy that sounds good – but, in fact, is more likely to result in a lower price. Here’s why. The first few weeks a house is on the market is when it will have the most activity. If a house is overpriced, it has to compete with houses at that higher price level, which almost certainly have more competitive features.
So the overpriced home is unlikely to attract an offer. Worse yet, those first weeks are when real estate agents preview the house. If it’s overpriced, they may not even bother to show it to their buyers. Eventually, the seller will have to drop the price – and may end up with an even lower price because buyers will wonder why the house has been on the market so long and may factor that into their offer.
WHY HASN’T MY HOME SOLD YET?
There are usually two or three very simple reasons when a house doesn’t sell. It is either not priced for the market or not in the best condition. Look very closely at these two factors and if you don’t think these could possibly be the reason then there are other possibilities we can discuss.
I DON’T HAVE TO SELL RIGHT NOW, SHOULD I WAIT UNTIL THE MARKET COMES BACK UP?
This is an honest conversation with your agent. They can discuss the current market, best times of the year to sell and other pertinent factors to be considered when putting your home on the market. You must also make sure you have everything ready to sell: your Temporary or Resident Visa, Taxpayer ID Number, Title and legal paperwork in order.
WHAT DO YOU RECOMMEND TO HELP ME SELL MY HOME FASTER (AND FOR MORE MONEY)?
We can recommend several tips to help you position your home for maximum value and shorter market time. Working closely with your agent to prepare your home, staging the property and pricing your home to the current market will typically help you achieve a success sale.
buyers frequently asked questions
WHAT IS THE COST TO USE A BUYER'S AGENT?
Generally the seller compensates any cooperating agent/agencies as set forth in the seller's exclusive listing agreement contracted with their sales agent. As such, there is no cost for a buyer to be represented by an agent.
WHAT TYPE OF INFORMATION WILL MY AGENT NEED FROM ME?
To do the best job for you, your agent will need to know your prerequisites. This would include such things as:
Preferred price range
Number of bedrooms / bathrooms
Style of home (single-level home, condo, duplex, gated community etc.) Geographical areas / neighborhoods of interest
Special needs / special interests that your home needs to accommodate
HOW CAN I FIND OUT ABOUT NEW PROPERTIES?
Our sophisticated custom search systems allow us to provide you with custom searches according to your specific criteria and keep you automatically updated with new listings so you are always in tune with the current market.
WHAT IF I FIND A PROPERTY ON MY OWN?
Many buyers widely use the Internet to search for properties while while working with an agent. When you find a property of interest, it's protocol to contact your agent with the address or the MLS number of the property in question. The agent will ensure its legal validity, educate you about the property and determine important factors to be sure it is a fit for you. Likewise, if you see a sign on a property, it's protocol to contact your agent, provide them with the address and have them liaison with the representing agent on your behalf. We will provide you with all the valid information on any listing.
CAN I GO TO OPEN HOUSES WITHOUT MY AGENT?
Yes. However, when meeting the agent hosting the open house it’s protocol to identify yourself as working with another agent.
HOW LONG DOES THE HOME BUYING PROCESS TAKE?
The buying process starts when you make an offer on a house and ends at “closing”, when you have the keys in-hand. On average, the buying and closing process takes from 45 to 60 days. During this time, all price negotiations are done, all inspections take place and any contingencies resolved.
IS THERE A DIFFERENCE BETWEEN AN AGENT AND A REALTOR?
Yes, a REALTOR is a professional real estate agent who holds membership in the National Association of Professional Real Estate Agents (AMPI). A REALTOR is held to a higher standard of ethics and a strict codes of conduct.
WHAT ITEMS ARE INCLUDED WITH A HOME?
In most cases appliances, window coverings and fixtures are included and, in our resort/second-home market, often properties are sold with furniture and other contents. A detailed inventory list should be agreed upon in writing between buyers and sellers to avoid any misunderstandings. This is often done using a photo inventory.
WHAT IS A PRE-QUALIFICATION/PRE-APPROVAL LETTER?
A pre-qualification letter is a document provided from your lender showing the amount you are qualified to borrow for the purchase of a property. An important benefit of a pre-approval letter is that it makes your offer stronger.
WHEN DO I HAVE TO PROVIDE MY INITIAL DEPOSIT?
Typically, the Initial Deposit is due within three working days of either the acceptance of an offer or the removal of contingencies. The Intial Deposit is also known as "Irrevocable Conditional Deposit".
HOW LONG IS A TYPICAL CONTINGENCY PERIOD?
Usually 7 to 14 days for standard contingency clauses such as inspection and diligence.