Tips & Advice

Seller Resources

Why Preparing your home to sell Is so important to getting top dollar

Getting top dollar for your home begins with understanding how to see your house through the eyes of a buyer. To be a successful seller, you must have your house looking its best!

HANDLING PRE-SALE PREPARATION

A magical metamorphosis occurs the moment you decide to sell your property. The 'home' you love so dearly turns into a 'house'. This shift in vocabulary is part of letting go, i.e., the emotional detachment process all sellers experience sooner or later. Home is where your heart is. Houses, on the other hand, are commodities sold on the open market. You’re getting ready to sell a house.

Most people don't really see their houses after they have lived there for a while. They don’t notice the effects of gradual physical deterioration and junk accumulation. Little stuff to them. Not so little stuff to a buyer!

If you make the right improvements when preparing your house to sell, you increase the odds of selling it quickly for top dollar. If, conversely, you do nothing or if you make the wrong changes to your property, you waste the time and money you spent, prolong the sale, and probably reduce the ultimate sale price.

CREATING CURB APPEAL

Most buyers make snap judgments about your house. And their first impression, good or bad, is usually lasting. Buyers generally decide if they want to see the inside within 20 seconds of viewing the external attractiveness (curb appeal) of your property. No matter how magnificent your house is on the inside, many buyers will drive by without even stopping if the curb appeal doesn’t say "I'm loved, I’m cared for."

EXTERIORS ATTRACT, BUT INTERIORS SELL

Curb appeal draws buyers into your house. But appealing, well cared for interiors make the sale.

You don’t usually have to spend thousands of dollars on your house prior to putting up the For Sale sign. On the contrary, little things you do generally give the biggest increase in value. Concentrate on the three Cs - clean it up, clear the clutter, and make cosmetic improvements.

Clean, scrub, and polish. Your stove, oven, refrigerator, microwave oven, and other appliances must be spotlessly clean inside and out. Scour walls, floors, bathtubs, showers, and sinks until they sparkle. Buyers will notice strong smells as soon as they walk through your front door, so eliminate smoke, mildew and pet odors. Cleaning drapes and carpets helps get rid of odors. Dehumidifiers help musty basements. If you’re a smoker, clean all ashtrays daily. Use air fresheners or citrus-scented potpourri to keep your house odor free. Whether you do the work or hire someone, make sure that your house is spotless and odorless.

Clear out the clutter. Clutter can reduce your house’s value. Clear away kitchen counters and keep dirty dishes out of the sink. Eliminating clutter and excess furniture makes rooms appear larger. Recycle those stacks of old magazines and newspapers you’ve been saving for no good reason. Dump all that junk you’ve accumulated over the years in your attic and basement. Closet space sells houses. Get rid of all those clothes you don’t wear any more. Clean those closets out, organize them. Make them look large and roomy! Do the same with built-in drawers. Like it or not, serious buyers will inspect your closets and built-in drawers.

Make cosmetic improvements. Painting isn’t expensive if you do it yourself, but be careful when selecting colors. Avoid bold colors with strong visual impact. Stick to conventional soft whites and other neutral colors that won’t clash with most prospective buyers’ tastes. If your finished basement, like most others, is dark and gloomy, paint the walls and ceiling a light color.

Pay attention to everything anywhere in your house that could cause the buyer to "reduce your price". Find it and repair it before you put it on the market. Look for any hairline cracks over doors or windows and nail pops in sheet rock. Locate any ceiling stains and the source of the leak. Check for windows with cracked panes or that don’t open and shut properly. Watch for doors that stick, don’t close or slide properly. Observe bathrooms for signs of mildew, rust stains in sinks and toilets, missing tiles or grout, inadequate caulking around tubs. Check for drippy faucets, slow draining sinks and tubs, broken mirrors. Check all kitchen appliances that remain with property.

Remember. Buyers consider any of the above problems a sign of poor maintenance. More often than not they are correct. Their solutions----either don’t buy or reduce the price by thousands!

The Three C’s

  • Clean it up
  • Clear the clutter
  • Cosmetic improvements

Preparing Your Home for Sale

With a little effort on your part, your home can be sold more quickly and at a better price. The following tips have proved invaluable to owners and are worth your special attention:

Preparation for Showing

  1. First impressions are lasting! The front door greets the prospect. Make sure it is fresh, clean, and paint the trim.
  2. Keep lawn trimmed and edged, and the yard free of refuse. Reseed the lawn and fertilize if necessary, weed the gardens, and add mulch. Deep green grass makes a lasting impression.
  3. Decorate for a quick sale. Faded walls and worn woodwork reduce appeal. Why try to tell the prospect how your home could look, when you can show him by redecorating? A quicker sale at a higher price will result. An investment in neutral new kitchen wallpaper will pay dividends.
  4. Let the sun shine in. Open draperies and curtains and let the prospect see how cheerful your home can be. (Dark rooms do not appeal)
  5. Do the windows and window screens work well and look good? Have the windows spotless.
  6. Are the appliances operating properly and sparkling?
  7. Fix the faucet! Dripping water discolors sinks and suggests faulty plumbing.
  8. Repairs can make a big difference. Loose knobs, sticking doors and windows, warped cabinet drawers and other minor flaws detract from home value. Have them fixed.
  9. From top to bottom. Display the full value of your attic, basement and other utility space by removing all unnecessary articles. Brighten dark, dull basements by painting walls and adding brighter light bulbs.
  10. Safety first. Keep stairways clear. Avoid cluttered appearances and possible injuries.
  11. Pack excess linens and clothing to make closets look bigger. Neat, well-ordered closets show the space is ample.
  12. Bathrooms help sell homes. Check and repair grout in bathtubs and showers. Make this room sparkle. Don’t let the Handy Man add gobs of caulking when grout is what you need.
  13. Arrange bedrooms neatly. Remove excess furniture. Use attractive bedspreads and fresh looking window coverings.
  14. Have I removed or mentioned to my realtor any attached items that are not included, such as special chandeliers, shelving or garden plants?
  15. Can you see the light? Illumination is like a welcome sign. The potential buyer will feel a glowing evening when you turn on all your lights for an evening inspection.
  16. Am I ready to disclose any structural defects such as roof, foundation or wiring problems?

Save Yourself Time, Money and Disappointment — Do Deferred Maintenance Now!

Showing the House

  1. Whenever possible leave your house for showings, if not, follow the tips below.
  2. Three's a crowd. Avoid having too many people present during showings. The potential buyer will feel like an intruder and will hurry through the house.
  3. Mellow music is inviting. However, turn off the blaring television or radio. Let the agent and buyer talk, free of disturbances.
  4. Pets underfoot? Keep them out of the way--preferably out of the house.
  5. Silence is golden. Be courteous but don't force conversation with the potential buyer. He wants to inspect your house--not to pay a social call.
  6. Be it ever so humble. Never apologize for the appearance of your home. After all, it has been lived in. Let the trained agent answer any objections. This is his/her job.
  7. Remain in the background. The agent knows the buyer's requirements and can better emphasize the features of your home when you don't tag along. You will be called if needed. Allow the buyers to take "psychological possession."
  8. Why put the cart before the horse? Trying to dispose of furniture and furnishings to the potential buyer before he has purchased the house often loses a sale.

A word to the wise: Let your Realtor discuss price, terms, possession and other factors with the customer. They are eminently qualified to bring negotiations to a favorable conclusion.

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Buyer Resources

As a licensed real estate professional I provide much more than the service of helping you find your ideal home. Realtors® are expert negotiators with other agents, seasoned financial advisors with clients, and superb navigators around the local neighborhood. They are members of the National Association of Realtors (NAR) and must abide by a Code of Ethics and Standards of Practice enforced by the NAR. A professional Realtor® is your best resource when buying your home.

LET ME BE YOUR GUIDE

  • As a knowledgeable Realtor® Lesley Peters, Atlanta Real Estate Agent can save you endless amounts of time, money, and frustration.
  • As a knowledgeable Realtor® Lesley Peters, Atlanta Real Estate Agent knows the housing market inside and out and can help you avoid the "wild goose chase."
  • As a knowledgeable Realtor® Lesley Peters, Atlanta Real Estate Agent can help you with any home, even if it is listed elsewhere or if it is being sold directly by the owner.
  • As a knowledgeable Realtor® Lesley Peters, Atlanta Real Estate Agent knows the best lenders in the area and can help you understand the importance of being pre-qualified for a mortgage. Lesley Peters, Atlanta Real Estate Agent can also discuss down payments, closing costs, and monthly payment options that suit you.
  • As a knowledgeable Realtor®, Lesley Peters, Atlanta Real Estate Agent is an excellent source for both general and specific information about the community such as schools, churches, shopping, and transportation - - plus tips on home inspections and pricing.
  • As a knowledgeable Realtor® Lesley Peters, Atlanta Real Estate Agent is experienced at presenting your offer to the homeowner and can help you through the process of negotiating the best price. We bring objectivity to the buying transaction, and we can point out the advantages and the disadvantages of a particular property.

**And the best thing about Lesley Peters, Atlanta Real Estate Agent as your Realtor® is that all this help normally won’t cost you a cent. Generally, the seller pays the commission to the Realtor®. **

REASONS TO BUY A HOME

  1. Quality of Life
  2. Tax Deductibility of Mortgage Interest
  3. Tax Deductibility of Property Taxes
  4. Appreciation Potential
  5. Deferred Gain and Capital Gain Treatment
  6. Once in a Lifetime Exclusion
  7. Principal Accumulation
  8. Pride in Your Home
  9. No Landlord
  10. Leverage (where else can you buy this size of an investment with 5-10% down)
  11. The Real Cost of Renting (At $700 per month, with a 6% rental increase per year, you will pay $110,719 over a 10 year period.)

THE HOME-BUYING PROCESS

WHAT EVERY BUYER SHOULD KNOW BEFORE PURCHASING

  1. Property taxes and qualified interest are deductible on an individual’s federal income tax return.
  2. Often, a home is the largest asset an individual has and is considered one of the most valuable investments available.
  3. A portion of each amortized mortgage payment goes to principal which is an investment.
  4. A home is one of the few investments that you can enjoy by living in it.
  5. A REALTOR® can usually show you any home whether it is listed with a company, a builder, or even a For Sale By Owner home.
  6. Working through a REALTOR® to purchase a For Sale By Owner home can be very advantageous because someone is looking out for your best interest.
  7. Your Real Estate professional can provide you with a list of items you’ll need to complete your loan application so you’ll be prepared.
  8. A homeowner can exclude up to $500,000 of capital gain tax if married and filing jointly or up to $250,000 if single or filing separately. The home must have been the taxpayer’s principal residence for the previous two years.
  9. Beginning with May 07, 1997, there is no longer a requirement to purchase another home more expensive than the one sold. Homeowners are free to buy up or down with no tax consequences assuming their gain is less than the allowable amounts.
  10. Ask the Real Estate professional if they are familiar with the neighborhoods where you want to live.
  11. Ask the Real Estate professional whom he/she is representing in the transaction.
  12. Ask the Real Estate professional what he/she will do to keep you informed.
  13. Your Real Estate professional should provide you with the highest level of service and advice.

BEFORE WE BEGIN…
PRE-QUALIFICATION AND PRE-APPROVAL

Many buyers apply for a loan and obtain approval before they find the home they want to buy. Why?

Pre-qualifying will help you in the following ways:

  1. Generally, interest rates are locked in for a set period of time. You will know in advance exactly what your payments will be on offers you choose to make.
  2. You won’t waste time considering homes you cannot afford.

Pre-approval will help you in the following ways:

  1. A seller may choose to make concessions if they know that your financing is secured. You are like a cash buyer, and this may make your offer more competitive.
  2. You can select the best loan package without being under pressure.

HOW MUCH HOME CAN YOU AFFORD?

There are three key factors to consider:

  1. The down payment
  2. Your ability to qualify for a mortgage
  3. The closing costs associated with your transaction.

DOWN PAYMENT REQUIREMENTS:

Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan. If you are able to come up with a 20-25% down payment, you may be eligible to take advantage of special fast-track programs and possibly eliminate mortgage insurance.

CLOSING COSTS:

You will be required to pay fees for loan processing and other closing costs. These fees must be paid in full at the final settlement, unless you are able to include them in your financing. Typically, total closing costs will range between 2-5% of your mortgage loan.

QUALIFYING FOR THE MORTGAGE:

Most lenders require that your monthly payment range between 25-28% of your gross monthly income. Your mortgage payment to the lender includes the following items:

  • The principal on the loan (P)
  • The interest on the loan (I)
  • Property taxes (T),
  • The homeowner’s insurance (I).

Your total monthly PITI and all debts (from installments to revolving charge accounts) should range between 33-38% of your gross monthly income. These key factors determine your ability to secure a home loan: Credit Report, Assets, Income, and Property Value.

Download my Home Buyer Interview

Home Maintenance Tips

Investing in your home's maintenance and safety can pay off in peace of mind, utility costs, and resale value. These tips will help you prioritize what needs to be done, and when, so that your home will be a healthy, affordable place to live for years to come. A properly maintained home is not only a great place for you to live, but you can work to receive the best price possible when you do decide to sell it.

Home Maintenance Checklist

Monthly
  • Inspect and replace air conditioning filter - Use your electric bill as a reminder.
Quarterly
  • Inspect and test smoke alarms and replace back up batteries.
  • Inspect and maintain proper drainage around home.
  • Inspect and caulk ceramic tile in the kitchen and the bath.
  • Inspect shower caulking for proper water seal (use siliconized caulk).
Semi-annually
  • Service heating and air conditioning system.
  • Inspect & clean roof, valleys & gutters for debris for proper water drainage.
  • Inspect exterior doors and check weatherstripping.
  • Inspect and lubricate door hardware and lock sets.
  • Inspect and repair exterior caulking at windows, doors and siding.
  • Drain and refill water heater.
Annually
  • Inspect and repair settling drywall cracks.
  • Inspect and lubricate garage door tracks.
  • Inspect and repaint exterior.
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Moving Tips

Download my Moving Checklist and Packing Checklist.

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Mortgage Tips

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage-whether it's a home purchase, a refinancing, or a home equity loan-is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Comparing your options and negotiating with your lender may save you thousands of dollars.

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Real Estate Glossary

Buying or selling real estate can be complex with a language all its own. We can help you understand the terminology and the meaning of these terms. We are pleased to offer the definitions for many frequently used real estate terms. View the glossary »
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