Frequently
Asked Questions for Sellers
1. Why use Leo Lawrence Real Estate when selling my
home?
2. How much is my home worth?
3. What will I pay?
4. What is a 'closing' and what are closing costs?
5. How do I get my house ready to sell?
6. How will you advertise my home?
7. What are disclosures?
8. Do I need an attorney?
1. Why use Leo Lawrence Real Estate when
selling my home?
When selling your home, Leo Lawrence Real
Estate can give you up-to-date information on what is
happening in the marketplace and the price, financing,
terms and condition of competing properties, as well
as recommend repairs or cosmetic work that will significantly
enhance the salability of your property.
We market your property to other real estate agents
and the public, and know when, where and how to advertise
your property. The National Association of REALTORS®®
studies show that 82% of real estate sales are the result
of agent contacts through previous clients, referrals,
friends, family and personal contacts.
Our agents can help you objectively evaluate every buyer's
proposal without compromising your marketing position,
and help you write a legally binding, win-win agreement
that will be more likely to make it through the process
of appraisals, inspections and financing, as well as
the closing of the sale of your home. Between the initial
sales agreement and closing (or settlement), questions
may arise. For example, unexpected repairs are required
to obtain financing or a cloud in the title is discovered.
The required paperwork alone is overwhelming for most
sellers. Leo and his staff will help you resolve these
issues and move the transaction to closing.
{back to top}
2. How much is my home worth?
There are a number of factors that determine
the value of a home, including location, local sale
prices, market conditions and interest rates. Leo Lawrence
Real Estate will evaluate your home’s size, features,
location, and sales of comparable homes in your area.
We will then discuss your needs with you, such as how
much you owe on your current mortgage and the timeframe
in which you would like to sell, and recommend a starting
price for your home. You, as the Seller, will always
have the final say in the pricing of your property;
we will assist you as much as possible in determining
a successful asking price for your home.
{back to top}
3. What will I pay?
Typically, the Seller pays a commission
to both the Buyer’s and Seller’s agent as
part of the Residential Sale Contract. The Seller must
also pay any closing costs charged by the title company
for the Seller’s closing only. Obtaining and paying
for a gas appliance inspection and any repairs negotiated
in the contract are the responsibility of the Seller.
The Buyer will pay for all other home inspections and
their own closing costs.
{back to top}
4. What is a 'closing' and what are closing costs?
A closing is the exchange
of deed for the purchase price. At this time, the
Seller signs all documents required to convey the
property to the Buyer and receive the proceeds from
the sale. Closings are usually held at the office
of a title insurance company. The Buyer and Seller
are not required to close at the same title company,
and usually the Buyer closes first.
The Seller’s closing costs
consist of any costs charged by the title company
and the Buying and Selling Realtor’s commissions.
{back to top}
5. How do I get my house ready to sell?
With millions of dollars in closings, Leo
Lawrence Real Estate has extensive information designed
to assist you in preparing your home for sale. Our
free, no obligation DVD, “Dress Your House
for Success” is a helpful resource in getting
you started. Give us a call or email
us to receive your free, no obligation copy
of “Dress Your House for Success”. Our
agents will also visit you in your home to help
you prioritize any repairs or cosmetic enhancements,
to ensure you receive top value for your home. When
your home is ready to go on the market, our agents
will measure and photograph for advertising and
listing.
{back to top}
6. How will you advertise my home?
Leo Lawrence Real Estate uses a number
of methods to advertise homes we list for sale. Your
home will be listed with the Multi Listing Service (MLS),
a service that will allow other REALTORS® to easily access
important details about your home. Open Houses are often
a good way to attract potential buyers and agents. We
will place signs in your yard and in your neighborhood,
if allowed. Additionally, we often advertise on the
cable “Home Search” channel, on Realtor.com,
in Homes magazine, and using strategic direct mail campaigns.
This is done at no cost to our clients. Our agents will
determine the best strategy for your house based on
a variety of factors.
{back to top}
7. What are disclosures?
The Seller’s Disclosure statement
is the Seller’s written statement of any known
defects, pertinent facts, or other known conditions
regarding the property that could affect the Buyer’s
decision to purchase the property. A Seller who fails
to disclose known defects could face litigation.
{back to top}
8.Do I need an attorney?
Missouri law does not require the use of
an attorney in a real estate transaction; however, you
may wish to consult an attorney for any legal questions
you may have. Leo Lawrence Real Estate has worked with
many attorneys, both in selling their personal property
and in legal transactions. We have established a number
of good relationships with attorneys and are happy to
make referrals if requested.
{back to top}
|
