Riki Oppenheim 402 Highland Ave Cheshire, CT
Office: 203-272-1633 x110
Cell: 203-910-8786
Home Sellers
Need help with real estate terminology and expressions?
As your listing agent my job is to price your home correctly from the very beginning. It is in your best interest to get your home sold for the most money in the least amount of time.Decide what you really need and expect the benefits of more than just the industry standard of "listing your home and waiting for it to sell". I have developed skills and techniques that give you the very best innovative and progressive marketing and sales skills.
Your Market Analysis
When you are ready to sell your home, working with an experienced agent can make all the difference. Find a Realtor who is familiar with the local real estate market. Once you have developed a comfortable relationship and trust, give him/her your loyalty and work together as a team. Choose a Realtor who has a sensible plan of action and proven marketing materials. As a trusted advisor he/she will provide to you a Market Evaluation or Market Analysis. You are under no obligation of any kind and the service is completely free of charge.
Generally speaking the practice is two steps. The initial walk-through appointment will allow your agent to familiarize him or herself with your home. Your Realtor may have lots of questions such as: age and condition of the roof, mechanical systems and location (distance to schools, parks, etc). The second appointment is made to discuss the pricing proposal and marketing plan. It will also be important to discuss where you plan on moving and how soon you plan to move. Is it more important to get a certain amount of profit or is the timing of the move most important?
The market analysis
contains a summary of the recent real estate transactions in your town
for homes in your neighborhood and similar to yours. While some of the
homes included may not be exactly like yours, they do provide a good
basis by which to compare your home with the “competition”. After
review and study of the report, your Realtor will suggest the
appropriate list price of your home. The idea is to get the maximum
price and the best terms during the window of time when your home is
being marketed.
Every reasonable owner wants the best possible price and terms for their
home. Several factors, including market conditions and interest rates,
will determine how much you can get for your home. Features of your
home include: location, price, general condition of your home, amenities
such as bedrooms and baths, etc.
There is no control over your location and the financial environment. However, as the owner, you are in control of the listing price and the condition of your home.
Setting the Stage
Getting your home ready takes time, effort and sometimes expense. But once you have completed the necessary steps to "set the stage" your home will show to its best advantage. You will realize the best sale results with the highest price possible and within the shortest time.
Clean up any room in your house or your garage, to get the harmonious "chi flow" moving again. Create space and organization by giving away things you no longer need or use, have a tag sale or give to charitable organizations. Ask yourself: If you were buying this home what would you want to see? The goal is to show a home which looks good, maximizes space and attracts as many buyers and as much demand as possible.
In our area, local Realtors will preview your home when it is first introduced to the market place. First impressions are important. These agents will have potential buyers who are eager to consider the newest listings in your neighborhood. Buyers prefer homes that look livable and inviting, even though you will remove the furnishings before the closing.
Getting ready may include repairs, painting and other home improvements. My list of Contractors and Home Inspectors are a valuable source of help to you.
Closing Costs
The following are the approximate costs of selling your home. Both your lender and attorney should be consulted on the final figures and amounts.
Property taxes -- Property taxes for the real estate you own must be paid annually to the local government. Property taxes are the most common expense to be prorated between the buyer and seller. This process is referred to as an “adjustment.” (Other typical adjustments include annual homeowners’ association or condominium fees and unpaid water or utility bills.) Your closing attorney will split the taxes. If you are expected to pay taxes beyond the closing, the buyer will reimburse you. In the towns of Meriden and Wallingford taxes are adjusted in arrears. In that case, you will reimburse the buyer for their expense.
Transfer taxes -- Transfer taxes (I think of these as sales taxes) are charged by Connecticut and your town for the transfer of the ownership of your home. Connecticut sales tax for owner occupied properties is .5% of the sales price. Connecticut sales tax for non-owner occupied and investment property is 1% of the sales price. Your town conveyance sales tax is $2.25 per $1,000 of the sales price, or .225% of the sales price. Some Connecticut towns have allowed for a higher sales tax. It is best to call your town hall for the most current transfer sales tax amount.
Real Estate Brokerage Fees—There is no substitution for the knowledge, education and experience of your local Realtor. We offer service (many times at non-banking hours) to achieve first-rate results with the highest price possible and with skilled objective analysis. We are in the business to develop a lifelong business relationship with all of our clients. As a member of the team of Coldwell Banker professionals we offer you service and care unlike any other local real estate company.
Attorney's Fees—In addition to co-coordinating the closing with the Buyer's attorney, your attorney will prepare the deed for the closing. With the proceeds from the closing, your attorney will pay off any remaining mortgages on your property. Attorneys in my area work hand in hand with the client and Realtor. They perform an invaluable service for you. It is best to call the attorney that you plan to work with and discuss the fee arrangement. See your attorney.
Condominium documents-- If your home is in a common interest community or is a condominium you will order the resale certificate and condo documents. The cost is generally $95 to 150.
A
Home Warranty--
The
Coldwell Banker Home Warranty Program.
This program offers a host of specific features for the home seller,
homebuyer and home owner.
A successful home sale requires teamwork between you and your Realtor. Before you start negotiating, make a list of the terms important to you. They may include: the price, personal property, a short closing date or any financing concessions that you may allow your buyer.
There is more to an offer than price. The offer from your buyer will encompass all the terms and conditions of the home purchase agreement, not just the price. Your Realtor will help you accomplish the best terms and conditions that reflect your needs and intentions. This provides you with greater peace of mind in managing all of the details associated with selling your home.
Most home sale negotiations involve give and take on the part of both the seller and buyer. Successful negotiation involves give and take from both parties. A cooperative, rather than adversarial, stance usually produces the best results.
The real estate market can change quickly. When the market is strong and home prices are rising, there may be minimal risk in waiting for a higher price. This is the case when there are plenty of buyers and the listing inventory is low. However, prices change with economic trends and/or when the inventory of homes for sale is increases. Remember the most current market value may differ from sales that occurred only a few months ago. Generally speaking the longer your home stays on the market, in a down market, the lower your ultimate sales price is likely to be.
Some homes will attract multiple offers. Sellers often wonder what happens if another buyer comes along during the negotiating process and makes a written offer. If another buyer comes along with an offer, the seller is free to consider any and all written offers. In our area, a fully executed contract is when both seller and buyer have received the signed contract, required attachments and addenda with the signatures (and/or initials as required) of all the parties. However, great care should be taken when negotiating multiple offers to make sure you do not enter into agreements to sell your home to more than one buyer!
Remember you are the decision-maker in the transaction.