Sellers - Frequently Asked Questions
What am I required to disclose about my house to a buyer?
Sellers are required to disclose material facts about the property for sale - that is, anything that could affect the sale price or influence a buyer's decision to purchase a home. This is obviously a pretty subjective requirement -- a fact that is material to one buyer may not concern another. Remember, generally you only need to disclose information within your personal knowledge. If you're wondering whether something should be disclosed, consult a real estate agent or your property attorney. Ask yourself if you'd want to have the information if you were the buyer. If the answer is yes, then disclose. It could save you a lot of trouble down the line.
Read more on what the Utah approved Real Estate Purchase Contract (REPC) states.
How do i best time the sale of my home with finding and closing on my new home?
This can be a little tricky and basically comes down to "negotiation". Most people must close on the sale of their home before they can get approved for financing on their next one. If you are planning on selling your home in order to buy another one, it is best to find the buyer for your existing home first. Once you have a buyer that is presenting an acceptable purchase price, we can then work on negotiating when that buyer will take "possession". I have often been able to get buyer's to accept a flexible settlement deadline. For example, the counter-offer might read something like this... "Settlement shall take place between January 30th and February 28th. the exact date will be decided by the Seller who will provide 3 days written notice to the Buyer. In the absence of such notice, settlement shall be on the last day stated above." This can be used to create the time needed to find your next home and coordinate a simultaneous close of both properties so that you can move from one house to the next without having to find a temporary place to live in between.
My house needs repairs, do I need to fix everything before I sell?
The short answer is, it depends. If it is your intent to maximize the full retail potential of the sale then you will want to do everything possible to attract qualified buyer's. That means if a buyer walks through your house and is already creating a list of repairs, you will likely NET less money when you sell than if you had completed the necessary repairs prior to listing the property. We are professionals and real estate is our full-time business. We would be happy to walk through your home with you and offer an un-biased opinion to help you maximize the most money possible from the sale of your home. Set up a no cost consultation TODAY.
On the other hand, if you are loosing your home to foreclosure and you are participating with the lender to sell the home to avoid foreclosure, then I would advise you NOT to do any repairs. In this case you are obviously not going to profit monetarily from the sale. Trying to make the property more attractive to a buyer will not benefit you. In this case you are selling "what it is" and there is a price for your home in it's as-is condition. We will help you determine what that is and negotiate with your lenders on your behalf to help you avoid foreclosure. If you are facing a Utah foreclosure, please reach out to us ASAP so that we may have the opportunity to help you avoid foreclosure and move on in a more dignified manner.
There is so much information available online, how do I determine the "true" value of my home?
NO automated website or program is going to be objective enough to give you and accurate valuation of your home, period! There are too many variables to take into consideration to assess the true market value of your home. It is important to combine two methods when determining the correct price to list your home for the maximum profit. 1. The recently SOLD properties that are similar in age, style, area, size and condition to your home. 2. What is currently ACTIVE on the market that will be you "competition". When you list, one of two things will happen. Your competition will help you sell your home, or you will help your competition sell theirs. Let us help you by preparing FREE CUSTOM HOME VALUATION for you.
