Chris Hounchell REALTOR

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Award-winning Florida real estate Broker PROUDLY SELLING IN PINELLAS, HILLSBOROUGH, PASCO, MANATEE & SARASOTA COUNTIES since 2004.

What Makes a Motivated Seller

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You want to sell your house that makes you a motivated Seller. Right? Maybe not. While every homeowner would love to sell their house for the listing price, or as close to it as possible, motivated Sellers are aggressive in their listing practices and willing to make a deal to get to the table as fast as possible.

Questions to Ask Yourself

Why is your motivation? Did you accept a new job offer or are you going through a life change such as a divorce or illness? Are your expectations for the sale in line with the current market? Are you physically able to get the house prepared to sell?

Motivated Is Not Desparate

Desperation is not a good selling point and it’ll become apparent to potential Buyers. While you as the Seller may be desperate you need to keep your anxiety in check and put forth a strong but inciting listing. If your listing appears desperate, Buyers and their agents may suspect something seriously wrong with the house and shy away from showings. If you do find a interested Buyer they may not be willing to make a fair offer to you, thinking they have you up against the ropes.

What Makes a Motivated Seller

The Price Is Right

Pricing is going to be one of the biggest factors in selling your home. If you’re truly motivated you’ll price your home competitively from the start. Your Realtor may even suggest aggressive price reductions at 30, 60, and 90 days. You also need to be willing to negotiate with a Buyer. Whether it’s on the price or concessions, be ready to make some kind of deal to get to the closing table.

 Get Ready, Stay Ready

A staged home sells faster than a non-staged home, according the National Association of Realtors. Whether you spend money on staging or do it yourself, keeping your house in that same condition every day is important. Operating under the assumption that a potential Buyer is going to walk through your home every day is the mindset you’ll need. You’ll also want to make your home as accessible as possible to showings. That means there should be little to no reason to decline or cancel a showing. And once you have an offer, make sure you have new living arrangements lined up and you’re prepared to move out as soon as possible.

While there is no wrong time to sell (or buy) identifying your motivations for doing so will help you achieve your desired outcome. White hot markets don’t always yield the biggest sales price and slower markets don’t necessarily mean a “for sale” sign will sit on your lawn for months on end. If you’re motivate to sell now, being enticing, flexible, and ready is the key to your success.

How to Prepare Your Home For a Showing

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You may have done some serious home improvement projects, hired a cleaning crew to deep clean everything, and staged your home like a professional in preparation for your home to be photographed for listing. But once those pictures are published and the sign is out front you still have to live in your home.  Real life is rarely ever as spotless as those listing pictures.  You want each of your showings to put your home’s best foot forward. That means making the house look like it did in those listing pictures each time a potential Buyer walks through the door.

How to Prepare your House for a Showing

It’s impossible to keep your home “show ready” every single day, right?  Wrong! You can and should.  A clean and orderly house allows for potentials Buyers to see the house – not your piles of laundry – and picture themselves living there. You don’t need to hire a live in house keeper though, just take small steps to keep the house clean and orderly all week.  Here’s how you can do it:

Daily Preparations

  • Sweep and mop floors; vacuum rugs and carpets.
  • Wipe down counters and fixtures in kitchen and bathroom.
  • Wash dishes or run dishwasher and put away.
  • Make beds.
  • Hang up coats and keep shoes, back packs, and sports equipment put away.
  • Put away toys at the end of the day.
  • Put mail away immediately; throw out or shred those items that you do not need.
  • Water the lawn and plants.

Weekly Preparations

  • Scrub the bathrooms and kitchen.
  • Dust furniture, blinds, and ceiling fans.
  • Wipe windows and mirrors with window cleaner.
  • Mow lawn and weed flower beds.

Immediately Before Showing

  • Use a laundry basket or large container to round up any loose items; hide the basket in your car until after the showing.
  • Secure personal effects, important documents, or other similar items.
  • Take out the garbage.
  • Close all cabinets and drawers.
  • Close toilet lids.
  • Open all interior doors.
  • Open blinds and curtains to allow in natural light or turn on the lights.
  • Make sure animals are crated or taken with you during the showing.
  • Make sure the outside of the house is clear of any debris or trash.

These lists seeing daunting but in reality they take only a few minutes out of your day and a few hours once a week to complete. If you have previously gone through your personal effects and purged items you no longer use or need, you’ll have even less to clean or move in preparation for a showing.

Editor’s note: This post was originally published October 2014 and has since been updated and edited for clarity & cohesiveness. 

Most Common Reasons Closing Is Delayed

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You’ve signed your real estate contract that included a specific date for closing. You’ll meet all the parties at the closing table on that date, right? Wrong…maybe. The closing date agreed upon in the real estate contract is tentative until the mortgage company and title company/attorney confirm it. There are times when that date may come and go without an end in sight. Why is that? Below we’ll examine the most common reasons closing is delayed.

Most-Common-Reasons-Closing-Is-Delayed

  • The mortgage company hasn’t completed their underwriting. After the mortgage crash in 2008, lenders became much more strict in their underwriting guidelines. Buyers are now required to provide solid proof of employment, cash flow, debt information, and savings. Once the mortgage underwriters receive all of this information they need to complete their own verification process which can take time and if changes in the Buyer’s credit report or bank statements take place it may cause the underwriting process to start all over. The mortgage company will also require an appraisal and most likely a home inspection report. If the appraisal comes back lower that the agreed upon price the mortgage company will require a lower sales price or not the loan. If the home inspection report lists repairs are needed the mortgage company may not agree to lend the money until the repairs are made and reinspected.
  • There are issues with the chain of title. Running concurrently with the mortgage underwriting process, the title company is underwriting the title to the house. They are responsible for issuing a clear title to the Buyer, which means they need to account for the mortgage(s) being paid off at closing, ensure taxes are current (or will be paid at closing), and the owners listed on title are the same owners attempting to sell the property. Issues arise when a prior mortgage still shows of record, the chain of owners is incomplete or incorrect, the legal description to the property is incorrect, or any other questionable information that is discovered in their research of the public records. Because the contract states that the Seller will provide a clear title to the Buyers at closing, closing cannot take place until all issues are resolved and depending on the issue will dictate how substantial the delay may be.
  • Communication between all parties is lacking. All of the parties (or their representatives) need to communicate throughout the process. The mortgage company may have a last minute requirements they need the Buyer or title company to fulfill or the title company may not have availability for the closing date or time originally requested. Simple issues can turn into big headaches if communication breaks down.
  • The Buyer or Seller runs into money troubles. It takes a lot of cash to buy a home and even if the Buyer is mortgaging the property he or she will still need to bring money to the closing table. Many Buyers rely on the funds from the previous home to fund their new home. If the previous home doesn’t close by the time their home is they will most likely won’t have the funds readily available to close. On the flip side, if the Seller was expecting to simply break even on the property they may need to scramble to find available funds to cover any unexpected costs.
  • The final walk-through uncovers new problems. Sometime within 24 hours of closing, the Buyer and Seller (along with their agents) will complete the walk-through and sometimes it can unveil issues that were either hiding during the showings and inspection (holes in the walls, stains/rips in the carpet or gouges in the flooring) or the Sellers did a less than stellar job when they moved out leaving behind garbage or a house that’s in less than “broom swept” condition. If the Realtors and their clients cannot come to a quick resolution to the issues it can result in a postponed closing.

So what should you do if you’re closing is subject to a delay? First, stay calm. What’s done is done, there’s no point focusing on what should have been done only what can be done now. Try to respond to any requests from the lender or title company immediately and keep in touch with your Realtor and/or attorney throughout the entire process. If a situation arises that requires additional negotiation for a repair or credit at closing attempt to find some middle ground with the other party that will resolve the issue quickly and keep the ball rolling towards the goal of a closed and completed transaction.

Seller’s Closing Checklist

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You’ve found a buyer for your house and the contract is signed. Congratulations! You may find yourself looking around and wondering “now what?” We have the answers you’ll need to get from contract to closing table. Follow our Seller’s Closing Checklist for a guided and smooth closing process.

Seller's-Closing-Checklist

After Signing the Contract

  • Provide the name of the mortgage company(ies) and account number(s) to the closing agent/title company so they can obtain the necessary payoff information.
  • Notify the HOA or Condo association of the tentative closing date and if there any processing fees to change their owner records and obtain copies of the bylaws.
  • Schedule the survey.
  • Schedule the home inspection with Buyer’s agent.
  • Schedule  the occupancy inspection with local municipality.

Four Weeks Before Closing

  • Schedule movers or make moving truck reservations.
  • Begin packing.
  • Make repairs agreed upon during the home inspection process.

Two Weeks Before Closing

  • Contact utility companies and arrange final readings and provide a forwarding address for the final bill.
  • Request a change of address with USPS.
  • Cancel or transfer reoccurring services (cable, pest control, landscapers, etc.).

One Week Before Closing

  • Confirm closing date and time.
  • Schedule Buyer’s final walk through.
  • Complete packing.
  • Clean the house.

Day Before Closing

  • Review preliminary HUD-1 settlement statement.
  • Provide final utility readings to the closing agent/title company.
  • Complete final walk through with Buyer.

Day of Closing

  • Empty the house of your belongings.
  • Complete one last sweep of the house, making sure to check all cabinets, closets, and drawers.
  • All titled owners to the house need to attend closing.
  • Provide keys, garage door remotes, and any other pertinent information to the Buyer.
  • Once closing is complete, cancel or transfer your homeowner’s insurance.

Take a look at our moving timeline as well!

Open House: Should You or Shouldn’t You?

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Before you ever sign the listing agreement with any Realtor, you should discuss his or her plan to market you property.  One of the items to discuss should be an open house.  Open houses benefit some properties while falling flat for others.  Open houses are a lot of work for both the seller and the Realtor and if all parties agree to host one, it should reflect a good amount of effort on both parts.  Consider your home’s showing record, the feedback you’ve received thus far, and the effort & patience you’ll need before scheduling an open house.

Why You Should

Convenience

If you have set strict showing instructions or limited the times your home is available for showings, an open house may make it more convenient for potential buyers to see your property.  Holding an open house on the weekend also provides potential buyers with more flexibility to view your home without the feeling of a time crunch.  Still other buyers may use it as a way to view the property for a second time.

Hot Market

If your home is listed in a seller’s market, an open house scheduled within the first week or two of listing can take advantage of the market conditions and bring in a number of serious buyers all at the same time.  With a house full of serious buyers, a seller could potentially end up with multiple offers at the end of the day.

Feedback

Has the feedback on your home individual showings produced the same feedback time and again?  Maybe “paint colors are too bold” or “landscaping needs work”?  If you’ve recently made improvements to the home, an open house would be a perfect way to show off the finished product.  Your Realtor should reach out to those buyers that made the comments and the first place and invite them back to see the changes.

Open House Sign

Why You May Think Twice

Nosey Neighbors, Wishers, and Site-Seers 

It can appear by the sign-in sheet that your open house was a success but don’t judge a book by it’s cover.  Open houses are prime targets for nosey neighbors who want to see what’s beyond the front door to justify your asking price.  There are also those buyers that are legitimately looking for a home but one well below your asking price.  Some people just want to have a look around to get ideas for decorating their own homes.  And still others attend open houses just for something to do on the weekends.

Scrub the House

A few weeks ago, we talked about getting your home ready for a showing.  Aside from the actual cleaning, sweeping, and vacuuming, you really should scrub any trace of your family’s existence from the house…at least for that one day.  You’ll need to stage the home which means removing personal items such as photos and mementos and replace them with neutral decor.  Less is always more in the case of showings and open houses so put away all of the small appliances and other items that usually reside on your counter tops and tables.  This can take a lot of time and may incur additional costs if you need to rent or purchase home decor items.

Security

Whether you own a mansion or a two bedroom condominium opening you home to any number of strangers could open you up to the risk of theft.  If hosting an open house, you should insist that your Realtor have an assistant to help keep an eye on those visitors walking through the home while your Realtor deals with more serious buyers.

Years ago open houses were the way for Realtors to get their listings noticed but they now share the spotlight with internet listings and social media touts.  Great MLS pictures are nice to look at but can never replace actually visiting a home in person.  Your listing agent will be able to help you decide if an open house is a marketing tool that will benefit you.

Use Social Media to Buy or Sell Your Home

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Social media is everywhere and being used for more than just connecting with friends and family.  From sharing pictures on Facebook to tweeting a funny quip on Twitter to pinning that great recipe on Pinterest, the majority of Americans use some form of social media every single day.  Why not employ these platforms to help you buy or sell a home?

Use Social Media to Buy or Sell Your Home

Buying a Home

Well before a person starts looking at homes, a buyer should have a good idea of what they want to buy.  Pinterest is a great tool for home buyers.  They can search through hundreds of pictures of homes and pin the ones that appeal to them the most.  Buyers don’t need to limit themselves just to homes in the immediate area they’re interested in either.  Pinning particular homes styles or specific features will help your realtor keep an eye out for new homes that appeal to you as they come on the market.  A word of caution though, buyers should avoid pinning interior designs that appeal to them or save them to a separate board.  You may love the colors or accents in one photo but hate the architecture of the room and this can cause confusion for your realtor as he or she searches for properties.

Another way to use social media when looking for a new home is to network through Facebook and Twitter.  This is especially helpful for buyers who aren’t from the area they’re intending to buy in.  Put up a status on Facebook asking friends if they know of great school districts, lively urban neighborhoods, or whatever you may be searching for in the area you’ll be moving to.  You can search Twitter using hashtags for information or recommendations as well.

Selling a Home

Facebook and Twitter are great ways to find real estate agent recommendations.  Sellers can also see if the agent has a review on sites like Yelp, although keep in mind not all reviews are fair or accurate.  Once your home is listed ask your realtor to share photos of your home’s listing on his or her Facebook page and see if he or she would be willing to reshare several times over the course of the listing.  You should also share the listing photos (with contact information for your realtor) on your Facebook page.  You can tweet the link to your home’s MLS listing page and use hashtags for your town and any identifying feature you want to highlight (bedrooms, bathrooms, pool, etc.).  Don’t spam your friends though, limit your sharing to once a month or once for every change to the listing (price reduction, open house).

Some Sellers have gotten creative and created a Pinterest board dedicated to their home.  Some have pinned pictures of different events held at their home (think holiday gatherings, BBQs) to highlight the best their home has to offer and what the home looks like throughout different seasons.  These boards often include highlights of the neighborhood (schools, farmer’s markets, local events) to make the area all the more appealing to a buyer.  If you do this, make sure each pin directs back to your home’s MLS listing page so the home’s information and your realtor’s contact information can be readily accessed.  Use the description portion of pins to detail what you’re pinning and why it should stand out to a buyer.

With some creativity, you can harness social media to do some work for you and your realtor.  You can find Chris Hounchell & Associates on Facebook and Twitter.