TRADITIONAL SALES GUIDE
So, you’re ready to take the leap—it’s time to sell your home. Lee Garland knows that even the idea can be daunting, but we believe the whole process should be smooth, informative, and most of all—fun. We’re here as your trusted consultants through every hoop you encounter, but it helps to know the basic steps before you jump.
Why do you want to sell?
First, you need to evaluate the reasons for selling your home. Are you looking to upsize, downsize, or simply see some returns on your investment? You definitely want to be clear with what you want, as well as the financial and emotional realities of putting your property on the market.
When do you want to sell?
Timing can be everything when it comes to getting your home on and off the market. Lee Garland and his team can provide a full analysis for greater insight into market conditions and possibilities. Plus, the Instant Offer and Guaranteed Sale programs alleviate stress if you’re in a crunch.
Of course, figuring out your financial situation is key in the decision to sell. Getting the most out of your money is the goal, and Lee Garland has the professional expertise to assess the financial impact of your decision on both the short-term and long-term future.
Lee Garland can help you accurately determine the value of your home, to avoid overestimating and winding up in trouble. It’s important to keep up momentum—from the second your listing hits the market—to stay competitive and get your money’s worth.
Now it’s time for the fun part—showing off your gorgeous home! Here are some helpful tips to making your property look its absolute best:
- First Impressions. “Curb appeal” is exactly what it sounds like—how fantastic your house looks from the street. Is the yard perfectly groomed? Is the exterior clean? Make sure you remove any trash or junk lying around—the first impression potential buyers will have is from the outside.
- Clean and Pristine. Break out the vacuum—it’s time to clean your house from top to bottom, with an eye for every detail. People are going to be peeping in every nook and cranny—trying to imagine themselves living there—so it’s important to get rid of any clutter, trash, or unwanted items to make everything look as spacious and comfortable as possible. Make sure to illuminate every inch of the space, take care to eliminate any odors, and maybe buy a vase of flowers or a new welcome mat—every detail counts.
- Get out! We hate to break it to you but, in order to give potential buyers the best experience viewing your home, you have to get out. Maybe, take the kids out of town for a couple days or, if you can’t leave town, make sure no one will be home for the day.
Congratulations—someone wants to buy your home! It’s not as simple as accepting an offer. Usually there’s some back-and-forth regarding terms, conditions, and pricing—in order to meet everyone’s needs. If there are multiple offers, Lee Garland knows how to navigate varying options, and provide guidance when it comes to selling your home at the optimal price.
During the conditional period, several factors come into play, before your property is officially sold. These may involve:
- Buyer’s mortgage approval
- Home inspection and repairs
- Home insurance approval
- Appraisal
There may be some re-negotiating that Lee Garland can lead you through, during this period. Once everything checks out and a firm offer is set, you’re ready to close!
Before you hand off the keys, there are a few loose ends that have to be wrapped up. A final walk-through is standard, a few days before or even the day of closing, to make sure all the bells and whistles still work and everything is in order. Lee Garland recommends having everything moved out and ready to go before the final closing day, to avoid any hold-up. Once the title is officially transferred and you’ve signed every dotted line, it’s time to pop the champagne—you sold your home!
What Is Market Value in Real Estate and How to Manage Your Home Value
Real estate is an investment, not just a place to live. When buying a property for investment, you want to make sure that it’s worth what you’re paying for it. Real estate market value fluctuates, depending on the supply and demand in the current market.
Also, many factors can affect a home’s market value in your specific location, including how much similar properties are selling for, local rules and regulations such as zoning laws and building codes, and even the local economy.
Knowing what your home is worth will tell you if you are getting a good deal or if you should look elsewhere when buying another property. Whether you’re a first-time buyer or someone looking to buy their first property as an adult (or maybe your sixth), this article will help you understand what fair market value means in real estate and how to manage your home value as an investor.
What Is Market Value?
Market value is the price a buyer is willing to pay for a property, either by negotiating or by putting an offer on the table. This is not the price your real estate agent or the listing broker tells you. The real estate agents will typically list a property for a price according to the seller’s market data that determine the current market conditions. This asking price is what the agent assumes the buyer will offer, so that’s what the listing is based on.
However, this is not what the actual buyer is willing to pay. You can find out the actual amount a buyer is considering paying by putting an offer on the table and seeing if they take it.
How to Calculate Fair Market Value for Real Estate Investors
Market value in real estate is the price buyers may pay for a property. This can be affected by many factors, including local rules and regulations, whether the property is in a desirable location, how much other properties are selling for, and even the local economy. There are a few ways to calculate the market value for real estate investors, including using a real estate appraisal or using a home valuation software package.
Real Estate Appraisal
If you’re buying a single-family home, a real estate appraisal is a type of professional inspection that assesses the appraised value of the property based on how it’s used, what’s on the land title, and other factors. There are multiple methods for performing a real estate appraisal, including the use of a proprietary appraisal model or an appraisal model with comparable sales that follows widely used standards, such as the Uniform Appraisal Model.
What is appraised is often not what is truly worth. You can’t tell from an appraisal if the property is fully functional or if it has major issues that could affect its market value. If you’re buying a fixer-upper, for example, an appraisal that says it’s worth $200,000 may not give you an accurate figure for what it’s actually worth.
Home Valuation Software
Home valuation software packages can provide you with estimates of home value based on a number of different factors, including local real estate data, prices of other comparable properties, and even data on the property itself. These packages can help you quickly and easily analyze your real estate investments to make sure they are earning the appropriate amount of return.
There are several different types of home valuation software available, including real estate valuation software, home valuation software for investors, and even real estate valuation software for people who work in the field of real estate investing.
Important Things to Know About Market Value in Real Estate
- Location: When it comes to market value, location is often the most important factor. You can look at other properties in your area or even in other cities and see how much they are selling for and use that as a rough estimate of what your home will sell for. If it’s in a bad part of town or there are zoning or building code issues, the price of your home may be less than what you think it should be.
- Zoning and Restrictions: The way a property is zoned and the building code requirements in your area can also affect market value. If your property is in a nice neighborhood with no major issues, but it’s a single-family home, the price of that home may be less than what it is worth because of its location or because of zoning restrictions that prohibit multi-family homes.
- Seasonality: The market value of your property may also be affected by the seasonality of the real estate market. In some areas, the real estate market is more seasonal than in others. Homes in a seasonal market may sell for a lower market price during the off-season when there are fewer people looking to buy or sell a home.
Guaranteed Rate Home Valuation
A home valuation is a basic and affordable way to find out how much your home is worth. It can provide you with an idea of the open market value of your home and help you decide if it’s a good time to sell or purchase a new property.
If you’re planning to sell your house, a property valuation can help you determine the best price for it. It will also help you avoid any potential conflicts between buyers and sellers and ensure that everything goes smoothly when the time comes to put the house on the market.
If you’re thinking about buying a house, finding out your property value can help you compare houses and figure out which one would be best for you. It can also come in handy if you have a tight budget and need to make sure that you’re getting the best possible deal for your money.
Garland Group Agents Are Professional Appraisers
In today’s competitive market, home buyers can’t afford to take a chance when it comes to buying a home. That’s why it’s so important to hire a trusted professional appraiser who can provide you with an accurate home valuation before making an offer on a property.
When you work with the Garland Group, you can be sure that we provide the most accurate value for our client’s property. We have a team of real estate agents who are experienced in accurately providing an appraisal value for your home after doing market research in the same area. Taking into account the market conditions and your property’s features, they can provide you with a guaranteed rate.
With our home valuation, we will provide you with a listing price within three days of receiving your request. In addition, we will send you an electronic copy of your appraisal and will also send you a hard copy if requested by you.
What’s the Difference Between Market Value and Selling Price?
Market value is the estimated price buyers are willing to pay for a property. It’s the price you’re trying to achieve when you put an offer on the table. The selling price is the amount a real estate agent or broker quotes you for their services. It may be a fixed amount, an all-inclusive amount, or an amount that depends on the services you request, such as staging or marketing services. You need to understand the difference between these two price quotes in order to ensure you are making the most financial sense out of your real estate investments.
How to Calculate Selling Price in Real Estate Investing
The selling price is simply the amount a real estate agent or broker quotes you for their services, such as listing, marketing, and photography. It may also include a closing costs amount that you’ll have to pay.
This is what you need to know about calculating the selling price of a property. However, keep in mind that this is not what the actual buyer is willing to give. You can find out the actual amount buyers are willing to give by putting an offer on the table and seeing if they take it.
How Much Should You Pay for a Property?
There is no one right answer to this question, and it’s not something anyone can tell you with absolute certainty. There is a lot of guesswork involved here in order to make an educated guess on the right price you need to pay for a property. The two most important factors to consider when deciding how much to pay for a property are the market value and the selling price.
- What is the market value?
- What is the selling price?
- What is the difference between the two?
How to Manage Your Home Value
As the saying goes, one of the best ways to protect your home value is to make sure it’s well-maintained. Regularly cleaning up spills, removing dead plants, and fixing any holes in the roof are all great ways to keep your home’s curb appeal at its best.
If you’re looking to sell your home, regular maintenance can also help to improve an already attractive property. Taking care of landscaping and keeping the lawn mowed and free of debris and bugs will help to create a more appealing image for potential buyers.
If you’re looking to buy a new home, you need to take care not to overspend on maintenance costs. While it may seem like a good idea to have everything fixed before moving in, remember that most initial costs can be covered by the closing costs if you’re ready for a quick sale.
Final Words: Is the Price You’re Being Asked for Your Home Fair?
The only thing that is certain when buying a property for investment is that you will have to make some sacrifices. And what better sacrifice could there be than choosing to pay a higher price for a property than what it’s worth? While there’s no way to know for sure what the price of a property should be, you can make an informed guess based on its market value and selling price. The best advice we can give here is to be as informed as possible about home values and market values, so you can make the best decision for yourself.
Conclusion
When you buy a home for investment, you want to make sure that it’s worth what you are paying for it. To do this, you need to know what the market value in real estate is. Market value is the price a buyer is willing to pay for a property — not the price a buyer pays when they buy a home, but the price they will pay if they want to sell it. There are a few different ways to calculate the market value and determine the current market conditions, including using a home valuation software package or a real estate appraisal.