SELLER Frequently Asked Questions

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SHORT ANSWER: WORK WITH ME, an experienced realtor! LONGER ANSWER: The right asking price is determined by factors such as recent sales of similar homes in your area, the current real estate market conditions, and your home’s unique features. A real estate agent can help by conducting a Comparative Market Analysis (CMA) to ensure your home is priced competitively.

To prepare your home for sale, start by decluttering, deep cleaning, and making any necessary repairs. Consider staging your home to make it more appealing to potential buyers, and boost curb appeal by tidying up the yard. Small updates like fresh paint or new fixtures can also help make a strong first impression. You can lean on my list of trusted contractors and professionals to help with these steps! 

The time it takes to sell a home depends on factors like market conditions, location, and pricing. On average, homes may sell within 30 to 60 days, but in a competitive market, it can be faster. Homes priced too high or in less desirable areas may take longer to sell. I will pull the data specific to YOUR neighborhood to give you a much more accurate estimate of "Average Days on Market."

Spring and summer are generally considered the best times to sell a home, as the warmer weather and longer days tend to bring more buyers into the market. However, homes can sell in any season, and factors like local market conditions and your personal situation may dictate the best timing for you.

Sellers typically pay between 6% to 10% of the home’s sale price in closing costs, which may include agent commissions, title insurance, transfer taxes, and escrow fees. It’s important to factor these costs into your overall profit expectations when selling your home. However, a lot of these costs are negotiable (especially commissions between seller and agents). 

An appraisal is an independent assessment of your home’s value, usually required by the buyer’s lender to ensure the home is worth the loan amount. If the appraisal comes in lower than the sale price, the buyer may request a price reduction, make up the difference, or back out if there’s an appraisal contingency in the contract.

A multiple-offer situation occurs when more than one buyer makes an offer on your home at the same time. In this case, you can either accept the most favorable offer, counter one of the offers, or ask for each buyer’s "highest and best" offer. Your real estate agent can guide you through the process to maximize your sale.

If you've lived in the home for at least two of the last five years, you may qualify for the capital gains tax exclusion, which allows you to exclude up to $250,000 of profit ($500,000 for married couples) from your taxable income. Consult with a tax advisor to understand any potential tax liabilities based on your specific situation.

Seller financing occurs when the seller acts as the lender and finances the buyer’s purchase directly. While this can be beneficial in certain situations (such as attracting buyers who may not qualify for traditional loans), it also comes with risks, as the seller must manage the loan over time. It’s important to consult a financial advisor or real estate attorney if you’re considering this option.

Selling your home before buying a new one can reduce financial strain, as you won’t be juggling two mortgages. However, this may also leave you in a temporary housing situation if your next home isn’t ready right away. Some sellers choose to make their offers contingent on selling their current home, or they arrange for temporary housing between sales. Another option sellers have is to qualify for a bridge loan, allowing them to buy their next home first, and sell their existing home second. I can connect you to my go-to lender to explore the best option you and yours!

Once you accept an offer, the buyer will typically arrange for a home inspection and appraisal. The closing process, including title searches and financing finalization, also begins. You’ll work with your agent to ensure all contingencies are met, and your agent will coordinate with the buyer’s team to move toward the closing date, which usually takes 30 to 45 days after the offer is accepted.

After the inspection, buyers may request repairs for any issues found. You can either agree to make the repairs, offer a credit toward the repair costs, or negotiate a lower sale price. In some cases, sellers may refuse, but this could result in the buyer walking away from the deal if the issues are significant. It’s important to weigh the costs and benefits of agreeing to repairs to keep the sale moving forward.

Staging is the process of arranging furniture and decor to showcase your home in the best possible light. It helps buyers envision themselves living in the space. Professionally staged homes often sell faster and for higher prices. Even small efforts like decluttering, neutralizing decor, and enhancing lighting can have a positive impact.

Yes, you can sell your home “as-is,” which means you won’t make any repairs or improvements before the sale. This is common for homes that need significant work. However, selling as-is may limit your buyer pool and result in lower offers, as buyers will factor in the cost of repairs. It's also possible that buyers will still request inspections, and they may ask for concessions based on the findings.

If your home appraises for less than the agreed-upon sale price, the buyer's lender may not approve the full loan amount. You may need to lower the sale price to match the appraisal, or the buyer may need to make up the difference in cash. If neither option works, the buyer may walk away from the deal. Working with your agent to price your home appropriately from the start can help avoid this situation.

If you have a mortgage, the proceeds from the sale will first go toward paying off the balance of your loan. You’ll need to request a payoff amount from your lender before closing, which will include any fees or interest owed. If your home sells for more than the mortgage balance, you’ll keep the remaining profit, minus closing costs and agent fees. If your mortgage is larger than the sale price, you may need to negotiate a short sale with your lender.

Yes, you can sell your home if you’re behind on mortgage payments, but it may require special arrangements. If your home’s value is less than what you owe, you may need to pursue a short sale, which involves getting your lender’s approval to sell the property for less than the remaining mortgage balance. If you owe more than the home is worth, this process can be complex, and working with an experienced agent is important.

Cash offers can be attractive because they usually result in faster closings and don’t involve financing contingencies, reducing the risk of delays or the deal falling through. When reviewing a cash offer, consider the buyer’s ability to provide proof of funds and whether the offer price is competitive. While cash offers may be lower than financed offers, the reduced risk and faster process can be a major advantage.

In some cases, you may negotiate a leaseback agreement, which allows you to stay in your home for a specified period after closing. This is useful if you need more time to find a new home or finalize your move. However, the buyer must agree to these terms, and there may be rent or other conditions involved. It's important to arrange this in the purchase agreement to avoid any conflicts.