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Posted: 6/27/2003 2:09:47 PM EDT
I'm moving from a house to detached condo, and more importantly out of stinking Massachusetts to New Hampshire. This is my first time selling a house, however, and would appreciate any warnings/tips on dealing with realtors and buyers. I know this is a broad question, but I'd like to hear any tips on your experiences and warnings.
Link Posted: 6/27/2003 2:14:58 PM EDT
Posting so I can find this thread later.
Link Posted: 6/27/2003 2:27:18 PM EDT
Don't use a realtor. They'll most often take your money and do jack shit. I sold my house without a realtor on my side and saved myself 3%. The buyer still had a realtor though so she got her 3%, but it comes out of the seller's mortgage. One caution, selling yourself is going to get you a lower sales price, but you'll still take home more cash. Especially if both you and the buyer don't have realtors. There are listing agencies that will give you a MLS listing which is key if you can't move it yourself with signs & listing in the local paper first. Watch for "prequalified" buyers. If their prequalification letter doesn't have a $ amount on it, they're not prequalified for shit. Stick to reputable mortgage companies, there's the usual big banks, and then there's a new one called home(something), I forget the exact name but there's billboards for them around here. Our buyer used them and they were awesome. If you have more specific questions ask away.
Link Posted: 6/27/2003 2:54:12 PM EDT
PreQualified and PreApproved are 2 different things. PreQualified means that you have sufficent income to make the payment. PreApproved means that they have done almost everything for the loan but put the property on the loan papers. This is general, but pretty close. Also, if you shop realtors, you can find some that will really work to sell your house. And I don't know about where your at, but here in CO, the commission is what you and the realtor agree to. There is no set commission. We agreed to 3 percent if she sells the house all by herself and 4 percent if another realtor sells the house (she gets one percent and the other gets 3) But we need our house to move real fast. dave
Link Posted: 6/27/2003 3:02:07 PM EDT
Read everything, don't hesitate to ask questions, assume nothing, be patient. There's a buyer at every price. Know the value of your home buy studying comps and listening *very carefully* to what the agents you interview tell you (see next). Get an agent to list and sell your home. Most people can't do it themselves. If you do, interview at least three real estate brokers, ask friends/neighbors/business associates for references and choose among them. On the west coast, real estate is very, very hot. That means prices are high, and if it's the same in your area, take your time to get a sense of the real value of your property. Best of luck! It's very stressful, as a rule, but can be managed with patience, knowledge, and the right help.
Link Posted: 6/27/2003 11:21:24 PM EDT
Don't carry any paper from the buyer unless you like going to court. Also, in PRK, there are dangers in Cal-Vet "loans". Can't be assumed, I think.
Link Posted: 6/27/2003 11:32:45 PM EDT
[Last Edit: 6/28/2003 12:27:48 AM EDT by Tonkaman]
Don't sell to a lawyer - you WILL get sued if there is the least little undisclosed difference between the house and what the paperwork says about the house. Try to get your realtor to put his services in writing. Be especially aware of services after a buyer is found and the contract is signed. Is the realtor going to expedite the buyer's paperwork, loan processing, etc. or leave that up to you? Most realtors don't want to do much of anything after the initial sale is made. Good luck in the new home.
Link Posted: 6/28/2003 6:42:20 PM EDT
Purchase sellers insurance. Worth it's wait in gold
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