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Real Estate Wealth - Resources and Education

Real Estate - Selling a Home

Preparing for the Sale of a Property

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A great educational resource for selling a property: http://www.hildrethhome.com/relocationguide/sellersintro.php 
  1. Find a real estate agent - In most cases you will want to use a real estate agent for your sales.
  2. Identify how you want to qualify the buyer - What kind of earnest money deposit will secure your buyer? Do they need to have financing lined up? Ask your agent what else should qualify them before accepting.
  3. Prepare the property - You owned the property for you. Now, set the slate clean and blank for the next owner. Make the home/property attractive for the new owner. Remove features that are too unique for a standard buyer of your type of home. Repaint walls to neutral colors. Make the home scream, "I am yours! Do with me as you please!"
  4. Set aside a budget for requirements from the purchaser once the inspection is done
For Sale by Owner versus Use of a Real Estate Professional

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Unless you are a real estate agent of some sort or very experienced, hire a real estate professional to help you market and sell your property. Even some of the most successful investors and property owners use an agent for every transaction. You have a finger to point if something goes wrong and you can spend time moving and working instead of trying to figure out what you are doing and what needs to be signed, disclosed, and paid out. Rarely is there a situation where a real estate professional isn't needed. Perhaps if you already have a buyer, you know what documents need executed and how to work with the title company then you may not need to use an agent. In most other circumstances you should pay an agent well for the services provided.
Closing

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The closing of your real estate property sale is much simpler than that of a purchase. The burden of the close rests on the buyer for the most part except for any items an inspector may find that the purchaser requires be fixed. Signing docs is a 10 minute thing. The more preparation and the more difficult your selection process for a new buyer the quicker things will be towards the end. If you just want to get rid of a place and don't qualify by requiring prequalified prospects and a good size earnest money deposit you may have issues down the road.