Q & A: Common Q&A About Selling Your Home

Click a question to jump right to the answer:

  1. Do sellers have to disclose the terms of other offers?
  2. How do I prepare my house to be on the market?
  3. Should I add on or buy a bigger home?
  4. What are some tips on negotiation?

Do sellers have to disclose the terms of other offers?

No, a seller is not required to disclose the details or terms of an offer to other buyers.

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How do I prepare my house to be on the market?

Walk through your home and look for any repairs, small or large, that should be made. Look for items such as broken windows, chipped paint, loose knobs, leaks, cracks, etc…and repair as many as you can, as these are all items that will catch a buyer’s attention and may even deter them from buying the home. After repairs are made, clean, de-clutter and stage your home so it showcases all of the top features of the house. Don’t forget to de-clutter basements, attics, closets and garages as these are all areas a potential buyer will tour. And don’t leave out the yard – a home’s curb appeal is its first impression.

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Should I add on or buy a bigger home?

Some questions to ask yourself when contemplating between a home expansion or move: how much extra space do you need, how long do you plan to remain in your home after the expansion/move, how much would the expansion cost, how much would buying a new home cost (remember to include closing fees, moving costs, etc…), what type of financing would you obtain, would your home accommodate the type of expansion you need? These are all important questions to address prior to making a decision. Meet with a real estate agent to find out how much you could list your current house for and for an estimate on the price of a new home that would fit your needs. Also schedule a meeting with an architect to discuss the possibilities for expansion.

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What are some tips on negotiation?

One of the best assets to have during the negotiation of a home is a real estate agent. There are many factors to consider when negotiating the price of a home – the listing price, added contingencies, the proposed closing date, asking for seller assists, as well as the motivation of the seller and buyers, are just a few examples. A real estate agent uses their education and experience to formulate not only the best offer for their client, but also an offer that will attract the other party.

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