Summer is a great time to be in the seller’s market, especially here in the Atlanta area. Are you planning on putting your home on the market this summer? If so, there are five key things that you need to know. Not quite there yet? Print this article out, hang it on your fridge, and refer back to it when you’re ready to go!
Need-to-Know #1
Keep calm and carry on. It’s a cliche, but it’s never more useful than when you’re selling a home. As soon as you decide to put your home on the market, you get an impossibly long list of “To Dos.” Preparing a home for sale is hard. It’s emotional. It can even have you questioning why you decided to go through this in the first place. Here’s our top tip when selling your home: keep your eye on the prize. Remember why you are moving and visualize what it will be like when all is said and done. Then, hire a professional to take care of the tough stuff. You have enough on your plate.
Need-to-Know #2
Did you know that some mortgage lenders require that the seller pay for pest inspections? Although the majority of home loans place this cost on the buyer, some mortgages, including VA loans, require the seller to take care of it. In the grand scheme of selling your home, this may seem like small potatoes, but it is an indicator of a bigger issue. Do you know what your costs will be when you go to sell your home? How do you know what’s expected of you and what’s fair? Consulting with an experienced professional is the best way to prepare yourself and ensure you are getting a good deal.
Need-to-Know #3
In real estate transactions, almost everything is on the table. Who pays for inspections, who is responsible for repairs, what repairs must be completed before sale v. what can just be left alone, etc. It’s all open for negotiation. As soon as the buyer starts getting inspection reports and learning more information about your property, it’s open season. Are you prepared to negotiate with a savvy buyer to make sure you are paid what your property is worth? If not, it’s best to have someone with you who is skilled in the art of negotiation and prepared to haggle for your best offer.
Need-to-Know #4
If there is a cloud on your home’s title, it is your responsibility to clear it up. As the seller in the transaction, it is your job to ensure that the real estate you sell has no undisclosed conditions on the property and that the title is free and clear of encumbrances. What might be clouding your title? Trust complications, liens on the property, unpaid property taxes, or any number of other challenges may hold up a sale. By working with a real estate attorney, you can avoid any unpleasant or unexpected title challenges by ensuring clear title right from the very beginning.
Need-to-Know #5
Did you know that in the State of Georgia, you are actually required to hire a real estate attorney to conduct the closing process? In other states, just the realtors need to be present at closing. Georgia follows a much stricter process. However, it is important to remember that the closing attorney is not your attorney. He or she is hired just to oversee the property sale, not to represent any of the parties present. If you want an attorney on your side (highly recommended), you will hire one separately from the closing attorney.
Ready to Take the Plunge?
You’ve gotten this far. You made the decision to put your house on the market this summer, and you are ready to get going. What should you do first? Give Brian M. Douglas & Associates a call at (770) 933-9009. We are experienced professionals in the realm of Georgia real estate transactions, and we’ve seen it all before. Don’t wait until it’s too late to resolve a problem. Enter into this home selling experience informed, prepared, and well-supported. We can do this!
