Things You Need to Know Before Selling Your Home

Residential property for sale

Residential property for saleWhile most people buy a house expecting to grow old in it, there might come a time when it is inevitable to sell it. This is a process filled with anxieties, something that people prefer to be done with as soon as possible. One of the elements which make selling a house a painstaking journey is the amount of paperwork you will need. Some of the necessary paperwork seems to duplicate the information, and you might assume there is no need for it.

A realtor based in Kansas City is an essential part of your home selling venture to not only guarantee you get the best price for it but to also get the required documents in order. These documents are divided into different stages of the sale including when preparing to sell the home, launching the transaction–when buyers are interested–and closing the transaction. The following are the documents needed when you begin the sale of your home after getting the listing documents in order.

Comparative Market Analysis

One of the critical documents a real estate agent will generate for you is the comparative market analysis report. This report encompasses all the metrics about the home sales in your area including those in the market–recently sold and midway through sales. This information will help you set a realistic price strategy for your home in conjunction with the appraisal report and other documents gathered when preparing for your home’s sale.

Listing Agreement

Realtor and clientsThis indicates the terms of the agreement between you and your realtor; it gives him/her exclusive rights for selling your home within a specified period. The listing agreement will also provide terms of how the agent should promote the sale of your home including graphics and written descriptions among other copyrightable elements of property sales. These terms will be the foundation of your real estate transaction, and thus, it is essential to scrutinize the listing agreement.

Proposed Marketing Plan

This lays out the marketing strategy of your real estate agent when selling your home. It encompasses a plan for your home’s presentation, social media marketing, and promotion across different websites. The marketing plan you settle for will determine how fast you will sell your home. You should, however, heed the advice of a real estate agent on which strategy will work best for your target market and based on the prevailing property market circumstances.

Seller’s Net Sheet

This is an organizational worksheet which your agent will complete showing how much you will pocket after the sale of your home. It factors expenses like the taxes, the realtor’s commission, and escrow and mortgage fees. The seller’s net sheet might change over the development of your property’s sale more so during your property’s listing and after receiving an offer based on the numbers.

The above documents are only part of all the ones you need when selling your home. You now appreciate that the sale of your home is not simply receiving cash after getting the best offer and exchanging your title deed. Without a realtor, it is easy to get fleeced out of your home and break various state rules on the sale of property in your locality.