Frequently Asked Questions from Sellers

What do I need to do to prepare my home before I sell?

Visit our Staging Your Home page for tips and a printable checklist for you to use in preparing your home.

Why should I use a Realtor to sell my home?

There are many benefits to using a Realtor to help you sell your home. Some of these include marketing capabilities, negotiating skills, and assistance in the closing process.

You don’t have to take our word for it, check out these two great sites with lots of information on why it can really help you to have a Realtor on your side.

Why use a REALTOR?

Why Use A Realtor When Selling Your Home

 

What costs are involved in selling my home?

  • Loan Payoff – You can check with your lender to get a good idea of what this amount will be. Be sure to factor in any home equity loans and other liens that may exist.
  • Broker’s Commissions – The commissions paid to the real estate company is typically the largest expense involved in selling a home, averaging between 5-7% of the selling price. Grady Realtors Inc. offers one of the lowest commissions in this area and is a full service real estate company.
  • Closing Costs – Next to commissions, closing costs are often the biggest expense of selling a home. One of the costliest parts is often title insurance (ranging from $250-$1,500, based on the sale price of the home). Other common closing costs include pro-rated property taxes, document preparation fees, revenue stamps, and recording of the mortgage release. Your Realtor will give you an estimate of these fees when listing your home and will also revise the estimate when an offer is submitted.
  • Other Fees Negotiated by the Buyer – Some of the most commonly seen fees include a home warranty provided by the buyer, the cost of repairs needed to make the sale, and a possible radon mitigation system (if the radon tests show a hazardous level).
  • Moving Costs – Many sellers forget to factor in the cost of the move itself, but those costs can quickly add up, especially if you have a large home with lots of furniture or are moving to a new town that is a number of miles away.

What factors influence the price of my home?

  • Current real estate market conditions (supply and demand)
  • Lot size, square footage, condition of the home
  • Location, amenities, property attributes
  • Selling and listing prices of comparable homes in the area

What inspections will be done on my home?

The buyer’s lender will order an appraisal on the property. A certified, licensed appraiser will use information about your home along with comparable sales to determine a value.

Depending on the terms of the contract, the buyer may order other inspections to be completed prior to closing. These can include a whole house inspection, termite inspection, and radon test.

  • Whole House Inspection – This is an evaluation of the home’s structure and systems which can be used to determine any areas of the home that are not performing properly, items that are beyond their useful life or are unsafe. Inspections will include areas on the interior and exterior of the home.
  • Termite Inspection - This is a visual inspection of the readily accessible areas of your home for evidence of wood-destroying insects (WDI) and wood-destroying organisms (WDO). The inspector will visually inspect the entire interior of a home and exterior of the property.
  • Radon Test – This test uses special equipment to evaluate the levels of radon (a naturally occurring, radioactive gas that is known to cause cancer) in your home. The equipment is usually left at your home for a period of 2-3 days.

 

If you have other questions, please feel free to contact us my phone or email.

Another great resource for real estate questions is www.homebuyingsinstitute.com. It has lots of great information about buying a home, but it also has good information for sellers as well.