In our three-part property management blog series, we’re talking about selling a home in Kissimmee. In this piece, we’ll discuss finding a qualified and experienced real estate agent.
If owning a home in Florida just isn’t practical anymore, you’ll need to sell it. Whether you live in the state, out of the state, or overseas, you need to find a Realtor you can trust. A home is one of your most expensive assets, and you don’t want to leave it to just anyone.
Look for Referrals
Talk to your family and friends. Find out if they have a Kissimmee real estate agent who would be a good choice to sell your home. Also, think back to when you bought the home. Was the Realtor really awesome? You can always look them up. Look online as well to see who does good work in your area. Do a little checking before you hire someone. You can visit myfloridalicense.com and search to see if the real estate agent has any violations against his or her license. Ask for references as well. Talking to people they have worked with before can tell you a lot.
Comparative Market Analysis
Most real estate agents will provide a CMA, that’s a comparative market analysis. This will show you what homes are actively for sale, which homes have sales pending, and what properties have recently sold. You and your Realtor can determine what your home should be listed for and what the fair market value is.
Out of Town Investors
If you’re out of state or overseas, ask if the Realtor has experience working with non-local sellers. Do they know about the filing requirements? You’ll have to file a US tax return if you live overseas, and Uncle Sam will take 15 percent of the sales price until it’s proven your tax returns are current. Asking all of these questions will help you get a good feel for a Realtor.
Preparing and Pricing Your Property
Next, you’ll have the Realtor look at your home through the eyes of a buyer. You can discuss what inexpensive things can be done to make your home more appealing. It may be as simple as a fresh coat of paint. You want to create as much curb appeal as possible. Look at the prices of your competition. If they are overpriced, you want to pitch your home for sale at a good price.
Be careful and beware of any Realtor who promises they can get far more money than what the market states your home should sell for. If you list your home with that Realtor, you’ll probably have to reduce the price, and it will sell for less than it would have if you priced it right from the start.
Our second part in this three part property management blog series on how to sell your home in Florida covers what happens once you receive an offer on your property. The first thing you need to do is consider the offer carefully. It could be 10 to 12 pages long.
Price, Terms, and Conditions
Go over the offer closely, and don’t just look at the price that they’re offering. Look at the terms and conditions as well. Do they want everything included in the price as seen on the day they viewed the property? Are they asking for funds towards their closing costs, and do they want you to provide a warranty? They might look for you to help pay for things like washers and dryers, or they may want yours. These things can all be included in the offer.
Discuss the Offer with Your Realtor
Your offer will also include stipulations such as the sale being subject to a home inspection, an appraisal, and a mortgage. So, receiving an offer is just the first step. Decide if you like the price. Usually the first offer is the best offer. The buyer may be getting a lot of money on financing and have little for a down payment. In such cases as these, the terms of the offer can be important. So, if full price is offered but closing costs are requested and you refuse to pay the closing costs, the deal may not fly. You can counter with an increased purchase price.
Go over this offer with your Realtor. An experienced agent will help you and advise you on what to offer back, and on what to accept and reject. Maybe you’ll just want to take the offer as-is.
Signing a Contract
Once you and the buyer agree on a price and terms, sign the contract as quickly as possible and get a copy to a title company. The title company will act as a closing agent. Some attorneys do it, but it’s customary to use a title company to close the transaction. They will ask if you have a mortgage, and they will collect other information from you such as your social security number and details about your HOA so they can facilitate the sale.
If the buyer cancels the contract because they didn’t like the inspection results or they couldn’t get financing, let it go. Sign off on giving them their deposit back and don’t delay. That will only take longer to get your home back on the market.
If you have any questions about selling Kissimmee real estate, please contact us at McCormack Realty & Renters Choice Homes.
Prepare for the Closing
If you’re a local seller and you can attend the closing, you should. Take any forms that are needed so you’re prepared. If you’re an out of state or overseas investor, make sure your accountant has prepared your 1031 exchange form or your 882B form. Otherwise, it could cost you at the closing table. If you’re an overseas seller, your closing documents could be 38 pages. You might feel overwhelmed, but you can call the closing agent and your Realtor and ask them to explain the forms. There’s lots of names and addresses and repetitive information to fill out again and again. If in doubt, speak to the closing agent.
You may need notarizing on these closing forms. In England and Europe, lots of people sign forms as witnesses. That’s not acceptable in Florida. You need a notary, so make your appointment and get those documents notarized. You might have an attorney think that they are notarizing the sale, but they aren’t. They are simply notarizing your signature, which means they are witnessing it and verifying that you are who you say you are. Take your passport and driver’s license.
Accepting Money and Providing Keys
Take your keys with you to the closing, and turn off the utilities on the day of the closing. When you get your money, decide where it will go. The title company can wire it directly into your bank. If you are overseas, use a currency exchange company because banks will use the exchange rate of the day and charge you fees. An exchange company will be less expensive.
Further details about selling your property and closing the deal can be found on our website. If you need any help with selling your Kissimmee real estate, please call us today! McCormack Realty & Renters Choice Homes, Phone Number: 407-933-2367