Best Practices for Selling
* Make sure your home is clean and in top condition. (If you need help, our agents will assist you with
contractors and/or staging.) Display fresh flowers in the living room or/and dining room to add warmth. And if your kitchen is spacious, add a bowl of fresh fruit.
* Allow your agent to schedule showings at the time of day when your property looks best.
* Remove any jittery pets and arrange to be elsewhere when your home is being shown.
* If selling a coop or condominium obtain rules and regulations from your managing agent.
* Have other documents available where applicable: Offering plan, prospectus, two-three years
financials, and other guidelines before going to market.
* Know if your building has a "flip tax" or working capital deposit and whether the seller or buyer is
responsible for paying it. Also, know if there are any present or planned assessments and what and when they are due.
* If selling a townhouse or house, have your floor plans and plot details available. Have all documents re-
garding how appliances are operated as well as the mechanicals, their last inspections, your voltage, and
when your roof was installed. Know your available FAR. Also, have your tax bill, property assessment, gas
and/or heating bills. If you rent all or part of the property, have the rent roll available.
* Have a local real estate lawyer in place.
Bidding and Negotiating
* The bid or offer from a buyer is initially made orally followed up in writing through the real estate
person representing the buyer. The written presentation will include the buyer's qualifications and
sometimes the desired closing date.
* You may accept or counter the offer as part of a price negotiation.
* In the case of multiple bids, you and your agent will strategize to obtain the the best price and terms
from the most qualified buyer. Frequently, the strategy will involve sealed bids or/and a deadline for
the highest and best offers from the various bidders.
* You will work closely with your agent to identify the offer that best satisfies your needs.
* The conclusion of the process will result in agreement upon the price, terms and closing date.
This includes any items affixed to the property, i.e. ceiling lights and appliances.
* You and the buyer will need to engage capable and experienced locally-based real estate lawyers
to prepare and review a contract of sale.
Going to Contract
Once you have accepted an offer, you will enter the contract stage. During this stage your buyer's lawyer will do what is known as "due diligence," basically vetting the building. Also, the terms of your agreement, including anything that is in the property but not legally attached, will be part of your deal. Any extras, like a specific light fixture, shades and curtains, will be put in writing in the contract. Also, such things as whether it is a contingency or non-contingency deal, the amount of the buyer''s deposit, a closing date, etc. will also be part of the contract.
What you need to know about selling a condo, co-op, townhouse or house.
Highly individualized attention to help you sell, rent or purchase a condo, coop, condop, townhouse or house.
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