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Pricing Your Home
What Is Your Home Worth? Has your home appreciated in value? Pricing your home accurately is one of the most critical decisions you will make. On their own, most people tend to overestimate the value of their home. An overpriced home will languish on the market, and worse, may even be actively shown by agents just to make another home look like a better value. As experienced real estate agents, we look at dozens of homes every day and we know at what price homes actually sell for, compared to their original listing price. We can tell you, generally within an accuracy range of a couple of percent, the price your home should sell for on the market.
How Are Agents Paid? Real estate brokers don’t get paid until you have successfully sold your home; they are paid a percentage of the real estate’s final selling price. Real estate commissions aren't very negotiable in Colorado. The commission is generally split between your listing agent and the buyer's agent. This amount is usually a total of 6% of the sold price. At PowerHouse, we provode full service listing for 1%, bringing your total commisions down to 4%. Keep in mind that, as your listing agent, we still pay for all the typical costs of marketing your home. In some cases we will sell your home for free!
Why Choose Us? When we list a home for sale, we immediately gather and compare information necessary to make your home the most competetive in the neighborhood. We notify our professional as well as personal sphere of influence, we host Brokers’ Open Houses and encourage preveiws to some of the top selling offices in the region. We will quickly post your home with photos on this website and the MLS (Multiple Listing Service). As technologically sophisticated brokers, we use digital photography, internet search and other technology to maximize your listing's exposure to as many brokers and buyers as possible. We will also market your property quickly and effectively through proven methods, which may include signs, fliers and public open houses. We also provide to all buyer's agents an easy method of providing us fast acurate feedback on your home. This allows us to track how buyers and brokers feel about touring your home.
Accepting an Offer
Price Isn’t Everything: Price is not always the deciding factor and the first offer may not be final: Our role is to help you sift through all the terms and conditions of the offer(s) you receive to help you create a transaction that best suits your needs. When appropriate, we will help you draft up a counter offer in response to an offer that comes up short of these needs. Contrary to popular belief, when presented with multiple offers, the highest price offer may not be the best offer to accept, after all things are considered. Having an experienced negotiator on your side can save you time and money.
Dealing Objectively and Fairly: Selling your home requires remaining objective and always negotiating in good faith. We will help you negotiate contractual terms that are beneficial to you and fair to the other party. Of course, we are always in your corner. An experienced agent knows how to handle situations including multiple offers and multiple counter offers prior to your going into contract with one buyer, or “ratifying” their offer.
The Deposit: Once there is an agreement on an offer, the buyer will deposit a predisclosed good faith deposit into an escrow account, reflecting their earnest intention to purchase your property.
Keep it in Writing (counter offers and addendums): Verbal agreements hold no water in the real estate business. It's very important to get a commitment in writing signed by both parties clarifying everyone’s intentions and prevents things from being ambiguous, forgotten or contradicted later. We will help you draft addendums to your contract that will help further your objectives.
Staying on Track: Real estate contracts provide a series of deadlines for both buyer and seller. Keeping this series of events on schedule ensures a timely and successful close of the transaction. Upon acceptance of an offer, we will give you a copy of the timeline we will be using to track the transaction, so you will always know what’s next.
Roadmap to Closing
What is Escrow? Simply put, escrow begins when an earnest money deposit and purchase offer is accepted by you, the seller. Escrow ends when the buyer becomes the official new owner, registered in the county records.
Title Company and Escrow Holder: In our area, typically the seller selects the title company and escrow holder. They are often one and the same. The title company will research the complete recorded history of the property, to make sure that the title is free and clear of all encumbrances by the date of closing and that all new terms and liabilities are properly added to the title.Upon request, you will receive a copy of the “preliminary report”, which we can explain to you.
Disclosures and Deadlines: Most purchase agreements provide the buyer with specific amounts of time to inspect the property, and provide you with time to make any adjustments or repairs found in that inspection. It is also the legal responsibility of the seller to disclose any information regarding the condition of the property.Your broker will walk you through the proceedure. Each process has a deadline to maintain good faith of the agreement of the transaction. Once these deadlines are met we are able to move one step closer to the close. In some cases, the buyer may use information they have learned to request a renegotiation of the terms of the contract (often the price). This is when our objective, experienced brokers can really make a difference by helping you make an informed decision on how to respond to the buyer.
Inspections: The buyer has the right to have a wide variety of property inspections to determine the property’s condition and the cost of any impending repairs or upgrades. Inspections may include roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, soil or mold. You are entitled to a copy of any of their inspection reports.
Appraisal and Loan Approval: We recommend accepting offers from buyers who can prove thier ability to purchase your property. A letter declaring pre-approval or pre-qualification from a bank is a strong statement of intent. Later, the lender will send an appraiser out to the property, to ensure the property is worth the sales price.
Time to Start Packing: We can recommend the appropriate time for you to start packing, based on our vast experience with transactions similar to yours. If you pack too soon, you may risk having your house in disarray in the case of a buyer's offer falling apart or if we need to begin showing your home to potential buyers again.
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