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Staging provides an important first impression of a home, with décor that appeals to a wide range of tastes and preferences. Buyers mainly begin their search on the Internet, so pictures are critical in the decision whether or not to even look at a home. Many surveys show that staging can help a home sell 50-70% more quickly and for up a 10% higher sales price.
Always start with the “must-do” list, which includes items needed to satisfy the loan requirements during the appraisal, such as a clear termite and moisture letter. Next are funds for potential home-inspection issues. Finally, wisely budgeted moneys to go toward changes to the home that provide the most impact. When making decisions regarding the final step, it is important to be educated about current market conditions in order to address updates and/or upgrades that may be needed to be competitive.
A thorough market analysis is done prior to listing. The appraiser (who is hired by the buyer’s lender) looks for a minimum of three comparable homes in close proximity, and adjustments are made both up and down to obtain a fair market value for the home. This process is subjective, so careful and thoughtful research is needed during the initial market analysis to ensure a successful sale.
Any ongoing material defects with the house or property must be disclosed. Anything that might adversely affect the sale, such as financial matters and ongoing legal or estate issues, also must be disclosed.
Attorney fees to prepare all legal documents, such as the deed, recording taxes to your city or county, the homeowner-resale package (if relevant), and other miscellaneous charges based on individual circumstances. Other fees are the Realtor commission, possible buyer’s concessions based on the current market, and funds for any required or negotiated repairs.
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