What is a comparative market analysis?
A comparative market analysis is an estimate of the value of a property based on an analysis of sales of properties with similar characteristics. The estimate is not from an appraiser. It is just comparing your house to other homes similar to yours that have recently sold. They give you an idea of what buyers are willing to pay for a house like yours.
What is a listing agreement?
A listing agreement is a contract you make with the agency when listing your house. If you have anything you want them to do or not do, you can put it in this agreement. You also agree to an amount of time you will use the agency for. You also agree what percentage of commission the agent will get from your property. This is an important document. It can set the course of the rest of your sale. Make sure to do research and think before you sign this.
Who is responsible to search the title of the property?
In California it is usually the buyer’s responsibility to search the title of the property. The title is searched using a title company who then sends the report to the buyer for approval. The report includes information on present ownership, a legal description of the property, any liens or unpaid taxes, any easements or covenants, restrictions, or conditions.
What happens after the loan is approved?
It is the buyers responsibility to apply for a loan. When their loan is approved, the lender gives the documents to the escrow holder. This process usually occurs about a week before closing. Then the buyer signs the documents before closing. A few days before closing, the seller signs the deed.
Any pointers for making a house sell faster?
You should make sure the house is a clean as possible. Try to eliminate all clutter on the all the counters. Also be prepared for people to snoop around. If they are interested in your house, they will want to look around. Put away anything too personal. For example do not leave all of your toiletries out on the counter. Also, make sure that all the rooms are staged to what they are supposed to be for example, if you are using the formal dining room as another living room, stage it as a dining room. This way potential buyers can use their imaginations for what else they would use the room for. Over all just try and make buyers feel comfortable.
What if the house is empty? What should I do to sell it?
Again clean the house completely. Make sure everything is completely clean. Also, keep some furniture in the house to get the potential buyers mind thinking about how they would set up the house s their own. Leave the window treatment. Any blinds or curtains should be left. This will make the empty house not feel quite as empty. Place all appliance manuals on the counters. If you do not have them, call the company and get them. You may know how to work your appliances, but that doesn’t mean everybody does. Keep the lights on. If you show your house at night you want them to be able to see the house. If a room doesn’t have a ceiling light, leave a lamp on a table in the room. Don’t forget about the outside! Clean up your landscaping. The more presentable your house is, the better the buyers will feel about it.
What is a disclosure statement?
Part of the process of listing a property includes the seller completing a full disclosure of any defects in the house of which he is aware. The seller is required by law to truthfully disclose any significant fact pertaining to his property.