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Whether you are planning your first purchase or selling your second
home, property buying and selling requires a great deal of
decision-making. Meticulous planning at the investment stage itself
could indeed avoid hassles and many sleepless nights. Though the
list provided below is not exhaustive, these tips will help you
plan your investment better. 
Make sure your house is the one potential buyers want to come back
to for a second look.
Repairs: Even
tiny defects in your house might look big in the watchful eyes
of the buyers. Cleaning the exteriors and interiors, giving the
rooms a bright look, creating speciousness and illuminating the
house can make a big difference in the prospective buyer’s
mind.
Spreading the word: You
can advertise in newspapers or websites, or spread the news by
word of mouth through friends and acquaintances to sell your property.
However, handling your own sale means you will be responsible for
placing ads, answering phones and showing your home to strangers.
Real estate agents: The
commission rate charged by an agent may vary, depending on where
you live or what agency you choose. However there are some benefits
of going through professional real estate agents. They will help
you
1. Establish a fair asking price for your home
2. Promote your home to other agents
3. List your property in multiple listing services giving maximum
exposure
4. Schedule appointments to show your home to prospective buyers
5. Refer you to sources for insurance, inspections, legal counsel
and financing
6. Help you negotiate with the buyer
Setting a Fair Price: Some of the factors to consider in pricing
your home –
1. Location
2. Economic conditions
3. Supply and demand in the local housing market
4. Extra features in your house, etc.
Qualifying a Buyer: A number of factors will help determine the
right buyer for your property.
1. The buyer’s current income and employment.
2. The buyer’s cash position and availability of a down payment
.3. The length of time the buyer needs before closing on your home.
4. How interested the buyer appears to be in your home versus others.
House documents for buyers’ scrutiny: Keep all house related
documents together. Buyers may want to have a look at all the documents.
Legal Representation: Look
for an attorney with expertise in real estate transactions. Your
attorney will be present at the actual closing to protect your interests
and can assist you with the following elements of a sales contract:
The sale price.
What is included in the sale price — draperies, carpeting,
light fixtures, heating oil, etc.
The amount of the down payment.
The date of settlement and possession date.
Contingencies
to the sale–inspections (e.g. structural, lead-based paint,
etc.), required improvements, legal review of the contract by the
buyer’s or seller’s attorney, etc.
The amount and length of loan, interest rate and time limits to
secure the loan.
Determining which closing costs are to be paid by the buyer and
which by the seller.
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