Barbara Nowak
Charles Rutenberg Realty
Fax: 516-596-8921
Cell: 516-232-6658
|
|
|
|
 |
|
Preparing your house for sale
In preparation for sale, you should gather all
necessary paperwork, so you are ready before an
offer comes. You may also select a real estate
lawyer to represent you. I will be able to provide you
with a list of documents you need to prepare, as well
as help you choose an attorney.
Remember that the first impression is important! There
are many little things you can do to enhance the value
of your property and to maximize the impression it
makes on the potential buyer.
Setting the price
How do you know what is the fair price for your house? The only way to find out is to compare your property
with properties that have similar location, condition and amenities. You can make such a comparison by looking
at the competitive analysis I prepare for each seller. It contains information about similar houses sold in your area
The competitive analysis provides knowledge about the current supply and demand for properties in your area.
Based on this, we can create the pricing strategy for your house.
Setting the right price for your home is extremely important! To understand why, let's imagine the following
situation:
1. The seller demands a price that is unrealistically high
2. Potential buyers and their agents do not want to see the house, as other comparable properties in the
area have more attractive prices
3. The house remains on the market, while the houses around it are selling
4. Potential buyers start to wonder what is wrong with the house
5. The seller is getting impatient, lowers the price below the market value, and finally sells the house for
less than it is actually worth.
How I will market your house
Your house will be marketed on several Internet sites, specialized in real estate. Once listed, it will remain there
until it is sold.
One of these sites is the Multiple Listing Service (MLS), which is a computerized network of over 1,500 real
estate offices across Nassau, Suffolk and Queens counties. MLS enables brokers and agents to share listing
and sale information. Thanks to this network, your house will be visible to all the potential buyers who are
looking for homes through any of these 1500 offices!
I will also arrange a Brokers' Open House, and a Public Open House and display a "For Sale" sign in front of
your house.
In addition, elegant, good quality brochures with color photos and detailed description of your house will be
distributed.
EXTRA FEATURE!- The brochures will contain floor plans of your house, which will distinguish your house
from other properties on the market, and make it easier for the prospective buyers to remember your house or
visualize themselves in it. Find our more
When an offer is presented
All offers are presented to you as the property owner. An offer is made in writing, and it contains the following
elements:
o The sum the buyer is willing to pay;
o The amount of the buyer’s mortgage;
o Closing date;
o Occupancy date;
o What personal property is included in the sale or excluded from it;
o Contingencies such as obtaining a mortgage or various inspections (for instance, building inspections,
tests for termites or lead), which depend on the property .
I will help you negotiate the best possible price. The negotiations process is such that if you don’t wish to accept
the offer, we can present a counter-offer, until you and the potential buyer reach an agreement.
When you accept an offer, I will arrange an appointment for all the necessary home inspections. At this point,
you should also arrange with your lawyer for the drawing of the formal Contract of Sale.
The Contract of Sale
the contract should include:
o Purchase price;
o Amount of mortgage;
o Mortgage contingency, if any
o Quality of title to be conveyed
o Date of possession;
o Itemized list of personal property included in the sale;
o Itemized list of personal property excluded from the sale;
o Satisfactory building and other applicable inspections.
The contract is reviewed by the buyer and his lawyer, and signed within several days. The buyer issues a
check for about 10% of the purchase price, which is deposited on an escrow account by the seller’s attorney.
At the time of the closing, this money will go towards the purchase price
Closing
At closing all parties sign all the paperwork needed to complete the sale. You transfer the title to the property to
the buyer, and in exchange, you receive the payment for the house. The buyer receives the keys to the house.
All documents such as deeds and loan paper are prepared and signed. These documents will be filed with the
local property record office.
From the sum you receive for the sale, the title representative subtracts the money needed to pay off the
existing mortgage and other transaction costs.
I am looking forward to work with you!
|
