Selling A Home

For Sellers  -  What You Need To Know When Selling Real Estate in Lake Arrowhead.

Our homes are lifetime investments ranking highly among your most important financial investments. Moreover, our homes so frequently evoke personal memories of cherished family experiences that the impending sale of a home becomes an especially strenuous endeavor to clients. It causes me to approach my task with special sensitivity, concern and professional competence.

Over and over, we at Coldwell Banker find that our policy of conducting a diligently prepared market analysis of the property and reviewing it in detail with the owner reduces the time spent on trial and error leads to a faster sale, at a better price and less inconvenience to our seller.

Thank you for this opportunity. My presentation is a measure of the quality of service which you can expect from me until your home is sold. It is another reason why Coldwell Banker agents are "The Real Estate Leaders!"

Tourism is the primary economic generator for the area, contributing several million dollars per year to the county and providing 600 full time and 700 part time jobs for local residents. The area is host to over 4 million visitors a year. There are 400 guestrooms in hotels, motels and bed and breakfasts as well as 500 cabins and condos, which are rented on a short-term basis. The area is also popular for business conferences.


The Mutual Objective is Selling Your Home... 

  • At the highest possible price
  • In the shortest amount of time
  • With the most favorable terms

We will be working as a team to sell your home. Communication and cooperation ensures a successful sale.

Your Involvement is Necessary for a Successful Sale

  • Keep your home in showcase condition and provide easy access for potential buyers.
  • Make yourself available from the time a contract is signed to the closing day.
  • Keep your home accessible for The appraisal and inspections.
  • Openly share all information about your home and its condition.
  • For your security, refer all potential buyers to your REALTOR®.
Fair Market Values
How to sell your home for the for THE BEST PRICE, in the SHORTEST TIME, with the MOST FAVORABLE TERMS And CONDITIONS?By pricing it right… INITIALLY!Major Factors Affecting Value:

  • SUPPLY AND DEMAND
  • SEASONAL MARKETS
  • MORTGAGE MARKETS
  • ECONOMIC CONDITIONS
  • POLITICAL ACTIONS
  • LOCATION, LOCATION, LOCATION

Methods of Evaluation

  • MARKET VALUE APPROACH (Comparable market sales)
  • INCOME APPROACH (Investment or income producing properties)
  • COST APPROACH (Most useful on new properties when replacement values are readily determinable)

Setting The Price of Your Home 

The 3 factors to consider in selling your home are location, condition and price. They are all related.

1. Location
Your home's location and setting influence its value. A home inside a quiet subdivision sells for more than the identical home on a busy street. Remote areas typically sell for less than closed-in areas. Views, streams and trees usually enhance value. You obviously have no control over location.

2. Condition
New homes enjoy a marketing edge over resale homes because they are shiny and clean. And builders enhance their appeal by offering model homes (clean, bright, and decorated in current colors and amenities) for buyers to examine.

Our goal is to make your home as close to a model home as possible. You have nearly complete control over condition and you can increase value and decrease marketing time by being sure your property is in the best possible condition.

3. Pricing
Your home must be priced within the appropriate range. You must actually "sell" your property twice: first to a buyer and then to an appraiser. The buyer is more subjective and compares the amenities of your home to those of other homes in the same price range. The appraiser is more objective and compares age, size and cost identifiable features in your home against other properties that have sold.

Reasons To Price Your Home Realistically

TIME
Chances are that your home will sell at its fair market value. Pricing it realistically at the outset simply increases the likelihood for a timely sale with less inconveniences and greater monetary return. COMPETITION
Buyers educate themselves by viewing many homes. They know what a fair price is. If your home is not competitive in value with those they have seen; it will not sell. Buyers typically look at homes within a $10,000 price range. If your home is not priced within the correct range, it very likely will not be exposed to its potential or targeted buyers.

REPUTATION
Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear "something is wrong" with the house. Often homes on the market for a long time eventually sell for less than their fair market value.

INCONVENIENCE
If overpricing keeps your home from selling promptly, you can end up owning two homes - the one you have already purchased and the one you are trying to sell. This can prove costly and worrisome, as well as inconvenient.

A personal referral is a cherished compliment. After all, don't we refer our friends only to professionals whom we know will take good care of them? Coldwell Banker agents generate 70% of their business from personal, "I trust this person" referrals. What better way to show you how Coldwell Banker stands "Above the Crowd."

When An Offer Is Made

1. PRESENTING THE OFFER

Be assured that as soon as I am aware that a written offer to purchase has been signed, I will contact you immediately. The timing may be inopportune but it's usually best to move ahead rapidly to consider the contract. Please note that when I call you, I may or may not be aware of the terms of the offer. When I have the contract in hand, I will study it closely and review each of the terms and conditions with you to your complete understanding and satisfaction.2. THREE OPTIONS TO CONSIDER
When we consider the terms of the contract, remember that you are in charge. You are free to deal with the contract as you choose, and I will be there to assist you. Generally, there are three options available to you.

  • A. Accept the offer as presented. I will convey your acceptance and the home is sold!
  • B. Make a counter proposal – Propose changes to the offer, i.e., price, personal property, closing or possession dates, etc. so that it is acceptable to you. Be aware, however, that when you change anything, the buyer is completely freed from the earlier commitment to buy. I will convey the terms of your proposal and the prospective purchases may accept, reject or offer a new proposal.
  • C. Reject the offer.

3. DELIVERY OF THE CONTRACT
A copy of the finalized contract will be delivered to both, the buyer and the seller by their Real Estate Agents.

4. FINALIZING THE CONDITIONS
A. The Buyer's financing: If the contract states that the buyer has a specific number of days to secure financing for the home, it is his responsibility to apply for and secure a loan commitment within that time period.

The Lending Institution Must:

  • 1) Verify that the buyer has the ability to meet the monthly loan payment. They will examine the buyer's credit history, employment records, etc.
  • 2) Verify that the value of your home is enough to ensure the safety of their loan. An Appraiser, assigned by the lender, will visit your home to affirm that its value, based upon a study of comparable homes, adequately secures the loan that they are making to your buyer. The mortgage loan underwriter will approve the loan upon satisfactory review of the above information.
  • B. After the loan is approved, more legal work is necessary, though you will have very little involvement. The property title will be searched, title insurance will be ordered and an updated survey of the property may need to be ordered. If the property is a condominium, the Association may be contacted.
  • C. When the paperwork is in order, the time and place of settlement will be agreed to by all parties involved. We will cooperate totally to insure a smooth and timely closing.
  • D. Prior to the time of closing, the buyer may request a physical inspection of the home. The buyers may or may not be accompanied by a property inspector whom they have engaged at their expense.
  • E. Keys will be delivered to the buyer at the closing or whenever possession of the property has been agreed upon.
  • F. at the closing, all documents finalizing the sale will be signed by all parties and all funds will be disbursed.


My Responsibilities 

My responsibilities are not fulfilled until the transaction is completed.

  • A. I will follow the transactions progress and inform you of significant developments.
  • B. I will do everything in my power to work with your lender, accountant, Lawyer, etc. to ensure a timely and highly satisfactory settlement for you.
  • C. Know that, beyond the above, I am here to answer any question and to resolve any problem of uncertainty that you may have. I want this to be a positive experience for you.