Selling Homes on the Central Coast of California

Selling your home is one of the most important steps in your life. Here are 29 essential tips you must know.

Selling your home can affect your very financial future. Here's information that can help you efficiently sell your home and maximize your investment.

For most people, selling their home means cashing in their biggest asset. In other words, it must be handled with great care if you hope to protect-and capitalize on-your investment.

This guide was written with one goal in mind: to give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home-selling process.

The reason you look closely at why you want to sell is that your motivations play an important role in the process. They affect everything from setting a price to deciding how much time and money you'll invest to getting your home ready for selling.

For example, what's more important to you: the money you walk away with, or the length of time your property is on the market? If your goal is a quick sale, that can dictate one kind of approach. If you want to maximize your profit, the sales process will almost certainly take longer.

Your reasons will affect how you negotiate the sale of your home, but they shouldn't be given as ammunition to the person who wants to buy it. For example, a prospective buyer who knows you must move quickly has you at their mercy in the negotiation process. When asked, simply say that your housing needs have changed. Your reasons are nobody's business but your own.

Tip No. 1 Know why you're selling.

Tip No. 2 Once you know, keep it to yourself.

Tip No. 3 Do your homework before setting a price.

Settling on an offering price shouldn't be done lightly. Once you've set your price, you've told buyers the absolute maximum they have to pay for your home. The trick for the seller is to get a selling price as close to the offering price as possible. If you start out by pricing too high, you might not be taken seriously by prospective buyers and their agents. A price too low can result in selling for much less than you had hoped for.

Setting your home's sale price can be a fairly easy process. If you live in a subdivision comprised of homes with similar or identical floor plans, built in the same time period, then all you have to do is look at recent sales in the neighborhood to give you a good ballpark figure.

But many people live in older neighborhoods that have changed quite a bit over the years. Every home in your neighborhood may be different in minor or substantial ways-the house next door may have added another bedroom, for example, or the one across the street might have been built recently to fill a vacant lot. As a neighborhood evolves over the years, you may find that there aren't any homes that are truly comparable to your own.

If you decide to sell your home on your own, the most common way to set a value is to look at homes that have sold in your neighborhood within the past six to 12 months, as well as those now on the market. That's certainly how prospective buyers will assess the worth of your home.

You can usually learn what homes have sold for in your neighborhood by making a quick trip to City Hall; home sale information is in the public records in most communities (but not all).

If this sounds like a lot of work, you may decide to hire a Realtor.® Your Realtor® will do all the market research and provide you with comps showing where your home should be priced to best meet your goals-a fast sell, maximum profit, etc.

The best way to get to know your competition, identify features that are popular and learn what turns buyers off is to check out other open houses. Plan on spending a few weekends touring other homes on the market to learn what other sellers are asking. Be sure to make note of the floor plan, condition, appearance, size of lot, location and other features.

If you visit enough homes and pay close attention to the details (and what other "buyers" are saying), you'll develop a good understanding of how different features affect pricing. And then you can apply what you've learned to the task of setting your price. But don't forget to include in the equation what homes are actually selling for, not just simply what people are asking. And remember, if you're serious about getting your home sold quickly, don't be more expensive than your neighbor.

A good Realtor® is attuned to nuances in the market that may not be apparent from comparable sales and listings.

Tip No. 4 Go home shopping yourself.

Sometimes you can use a good appraisal to your benefit in marketing your home. And if you get a VA or FHA appraisal, you can use it to let prospective buyers know that your home can be financed. However, an appraisal costs money. It also has a limited life. And you may not like the figure you hear.

Some people look to tax assessments to assign a value. The problem here is that assessments are based on a number of criteria unrelated to property values, so they often don't necessarily reflect the true value of your home. Have you ever heard of two identical homes in the same neighborhood with dramatically different assessed values because one was purchased more recently than the other? Well, it happens quite often.

Nearly two-thirds of the people who sell their own home say they wouldn't do it themselves again, according to research by the National Association of Realtors®. Sellers surveyed point to difficulties in setting a price, marketing handicaps and liability concerns among the primary reasons they would turn to a Realtor® next time. And selling a home yourself usually eats up more time and effort than you might initially expect.

Once you understand how much work it will be to sell it yourself, talk to a Realtor® you trust even if you decide to strike out on your own. Many top professionals are more than willing to help do-it-yourself sellers with the paperwork, contracts, etc. Plus you'll have a relationship with an agent if problems do arise that require professional help.

If you decide to work with a Realtor,® contact four or five-you probably met a few that you liked during your open house tour. Explain to each that you're thinking about putting your home on the market and you'd like to meet to talk about pricing and marketing. By having this group "evaluation" done, you should end up with a fairly tight price range to help guide your decision. Any Realtor® who is substantially higher or lower than the group should be able to justify their estimate. Just as you should be concerned with too low of a price, beware of an agent who gives you the highest price-they may be trying to buy your listing.

Tip No. 5 Know when to get an appraisal.

Tip No. 6 Your tax assessment means almost nothing.

Tip No. 7 Find a good Realtor®.

A good Realtor® knows the market and your neighborhood in particular. They will supply you with information on past sales, current listings, a marketing plan, something on their own background, and references from past clients. Take the time to carefully evaluate candidates on the basis of their experience, qualifications, enthusiasm, and personality. Most importantly, make sure you choose someone who is going to put in a lot of hard work on your behalf.

Make sure you leave yourself enough room in which to bargain. If what you ask for is unacceptable to the buyer, and their first offer is unacceptable to you, then you better make sure you have someplace to go that is acceptable to you.

Start with the absolute minimum price you would accept, then pick the price you'd get if the world were perfect. This gives you your range to keep in mind when working with your Realtor® to negotiate the sale.

In setting your asking price, review your priorities. Do you want to maximize your profit or sell quickly? You'll price high for the former and closer to market value if the latter is the case.

Each year, corporate North America spends billions of dollars on product and packaging design.

The lesson here is that appearance is critical-and it would be foolish to ignore this when selling your home.

You may not be able to change your home's location or its floor plan, but you can do a lot to improve its appearance. And you should. The look and "feel" of your home generates a greater emotional response than any other factor. You may price your home to sell, but a prospective buyer reacts to what they see, hear, feel and smell.

The key to effective marketing is knowing your product's good and bad points. In the case of your home, accentuating the good can mean a faster sale for more money; failing to deal with the bad can mean months on the market and a lower-than-desired sales price.

The biggest mistake you can make at this point is to rely solely on your own judgement. Remember this is your home, a place of fond memories. There are bound to be emotional issues that can impair your ability to make an honest assessment of your home's strengths and weaknesses.

Tip No. 8 Give yourself room to negotiate.

Tip No. 9 Maximize your home's sales potential.

Tip No. 10 Rely on other people's judgement as well as your own.

In evaluating what improvements you can make, don't be shy about asking others for their opinions. But make sure you're getting an honest answer; some may try to spare your feelings, just what you don't need. Fortunately, your Realtor® won't be shy in discussing what should be done to make a home more marketable.

Pick up, straighten, unclutter, scrub, scour, dust...well, you get the idea. If your living room feels crowded, take out every piece of furniture you can get away with. If your home still isn't ready to appear in House Beautiful, then clean some more. Remember, you're not just competing with other people's homes-you're going up against brand-new homes as well.

The step that squeaks, the light switch that doesn't work, the hairline crack in the bathroom mirror-they might be minor annoyances to you, but they can also be deal-killers. The problem is that you never know what will turn a buyer off. And even something minor that's gone unattended can suggest that perhaps there are bigger, less visible problems present as well.

When you toured other people's homes, you may have felt some discomfort. This probably occurred because you saw, heard or otherwise sensed something that made you feel as if you were intruding into someone's life.

The last thing you want others to feel in visiting your home is that same sense of discomfort. Avoid this by making your home as neutral as possible. Anything that interferes with a prospective buyers' ability to see themselves living in your home must be eliminated. A few carefully chosen knickknacks and family portraits may add warmth and character to the home, too many are a distraction. Avoid unique or trendy color schemes-paint and carpet in neutral shades of white or beige.

While personal items can detract, other small touches can help make your house a home to buyers. A well-placed vase of flowers, accent pieces of sculpture, potpourri in the bathroom-all can enhance the attractiveness of your home in a subtle, soft-spoken way. Try perusing any of the home magazines for tips.

Tip No. 11 Clean like you've never cleaned before.

Tip No. 12 Fix everything no matter how insignificant it may appear.

Tip No. 13 Remove all traces of you from your home.

Tip No. 14 The little touches can make a difference.

Tip No. 15 Don't let a smell be your downfall.

Odd smells kill deals quickly. All traces of food, pet and smoking odors must be eliminated. Even when you're sure they're gone, don't encourage prospective buyers to imagine things. If they know that you're a smoker or that you have a dog, they'll start smelling odors and seeing stains that may not even exist. Be safe-don't leave any clues.

Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers-in writing. If the buyer knows about a problem, he can't come back with a lawsuit later on.

By maximizing your home's marketability, you'll increase your chances of attracting more than one prospective buyer. Why is this better? Because several buyers compete with each other; a single buyer ends up competing with you.

The extent of most people's experience in the art of negotiation begins and ends at their local auto dealership. And few of us have pleasant memories of haggling with car salesmen. But if you can just let go of the emotion you've invested in your home and approach negotiations in a detached, businesslike manner, you'll find the process to be a lot less painful. In fact, you might even enjoy it-and you'll definitely have an advantage over prospective buyers who get caught up in the emotion of the situation.

In the negotiation process, your objective is to control the pace and set the duration. And the better you know your buyer, the more easily you can maintain control.

As a rule, buyers want the best property they can afford for the least amount of money. But knowing specifically what motivates your buyer enables you to negotiate more effectively. Maybe your buyer needs to move quickly. Or the maximum amount he can spend is just a little below your asking price. Knowing this information puts you in a better bargaining position.

Tip No. 16 Disclose everything.

Tip No. 17 The more prospects, the better.

Tip No. 18 Don't get emotional during negotiations.

Tip No. 19 Know your buyer.

Tip No. 20 Find out what the buyer can pay.

As soon as possible, try to find out the mortgage amount the buyer is qualified to carry and the size of his down payment. If he makes a low offer, question his Realtor® about his client's ability to really pay what your home is worth.

When a buyer would "like" to close is often when they need to close. Knowing this gives you his deadline for completing negotiations-again, an advantage in negotiations.

If circumstances conspire to force you into closing on your new home while you're still making mortgage payments on the old one, you might end up turning yourself into a seller who is eager (or desperate) for the first deal that comes along.

Studies have shown that it is more difficult to sell a home that is vacant-it looks forelorn, forgotten, simply not appealing. It could even cost you thousands. If you move, you're also telling buyers that you have a new home and are probably motivated to sell.

Forcing yourself to sell by a certain date adds unnecessary pressure and puts you at a serious disadvantage in negotiations.

The first offer is invariably well below what you both know the buyer will end up paying for your property. Don't get angry or feel insulted; evaluate the offer objectively. Make sure it spells out the offering price, adequate earnest money, amount of down payment, mortgage amount, a closing date and any special requests. Now you have a point from which you can negotiate.

Tip No. 21 Find out when the buyer would like to close.

Tip No. 22 Don't sign a deal on your next home until you close the deal on this one.

Tip No. 23 Don't move out before you sell.

Tip No. 24 Don't give yourself a deadline.

Tip No. 25 Don't take a low offer personally.

Tip No. 26 A really low offer may mean the buyer's not qualified.

If you feel an offer is inadequate, now would be a good time to make sure the buyer has been qualified to carry a mortgage of the size this deal would require (if you haven't learned this already). Ask how they arrived at their figure, then suggest their agent use comparables to establish what homes are going for in your neighborhood.

An unacceptably low offer should not be taken personally or seriously. Rather, it should be countered, even with the slightest of reductions in your asking price. This lets a buyer know that their first offer isn't seen as a very serious one.

The best way to avoid problems is to make sure that all terms, costs and responsibilities are spelled out in the contract of sale. A contract should include the date it was made, the names of the parties involved in the transaction, the address of the property being sold, the purchase price, where deposit monies will be held, the date for loan approval, the date and place of closing, type of deed, any contingencies that remain to be settled, and whether there's any personal property included (or not) in the sale, among other things.

Resist the temptation to diverge from the contract. For example, if the buyer requests a move-in prior to closing, just say no. Now is not the time to take any chances of the deal falling through.

Tip No. 27 Don't take a lowball offer seriously.

Tip No. 28 Make sure the contract is complete.

Tip No. 29 Don't deviate from the contract.

If this all sounds like a lot of work, it is. But it's to be expected when you're selling anything of such great value. And you'll thank yourself for all the expense and hard work when the outcome works to your satisfaction.

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Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provides the information you need to be an informed home seller.

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How To Maximize Your Return When You Sell Your Home

The "secret" to making top dollar when you sell your home isn't really a secret at all-I've been "revealing" it to my clients for years. But because it involves a lot of discipline and elbow grease, many people decide to cut corners. And that's when the price you could command begins to drop.

Do not be one of those people. During my years in real estate, I've seen countless examples where well-considered, well-placed investments of time and a little money have dramatically improved the sales price and increased the speed in which a home has sold.

My report will show you how even minor home improvements can substantially improve the value and marketability of your home. In today's economy, there are no guarantees that you will recoup what you spend to improve the value of your home-all the more reason it's important to pick the right investments.

But even when you don't recoup all the money you invest to upgrade, many improvements can give you an important edge over other homes on the market. And the failure to make some improvements can leave you at a distinct disadvantage as buyers compare your home with the competition. Believe me, I've seen it happen time and again.

Spend time before you spend a dime

Unless your home is in mint condition or you're selling it as a "fixer-upper," there's probably a long list of repair or remodeling projects to consider. These can range from relatively simple jobs, such as painting a bathroom, to more complex room-addition or remodeling projects.

In considering any home improvement project, you need to ask yourself a couple of questions: Why are you doing it? Is it work that really needs to be done-a paint job or replacing a leaky roof? Or is it an amenity you'd like that you think might appeal to a potential buyer-a hot tub or home office addition, for example. Will it add value to your home, or have no impact at all? Or will it make your home more difficult to sell?

Some investments-like painting and yard work-involve relatively little cash outlay and yet return many times your cost. Other improvements that you think add value have no significant impact. Adding a swimming pool is a good example. Besides the hassles of maintenance, a pool can reduce your home's appeal among families with small children because of safety concerns.

Planning is Everything

If there's one piece of advice I would give every homeowner regardless of the circumstances, it's this: Plan first, then do. Careful planning on your part is a prerequisite to undertaking any home improvement project, major or minor. In fact, the quickest way a "minor" project balloons into a major one is when you haven't thought things through in advance. I've seen more people get in over their heads because they didn't think things through before starting work.

Whether you hire someone or do the work yourself, expect to spend more time and money than you initially anticipate. But by choosing well, you can ensure that the work you do adds the greatest value at the lowest cost.

Be methodical. Try breaking your list into "exterior" and "interior" projects, then break it down further by room or outside area. Decide which projects you're going to take on yourself and which will require outside help, and then do a rough cost estimate for each job.

One rule of thumb to keep in mind is that if you do the work yourself, you'll probably recoup more than what you pay out for some improvements. You can probably save anywhere from 10 to 30 percent by removing hired labor from the equation. On the other hand, you might pay more for work done by professionals, but the improvements can speed up the sale of your property.

Some investments-like painting and yard work-involve relatively little cash outlay and yet return many times your cost.

The quickest way a "minor" project balloons into a major one is when you haven't thought things through in advance.

Whether you should tackle the work yourself or hire professionals depends on several things. Do you have the time? Can your friends or relatives help you, or are you going to do it all yourself? How skilled are you and your helpers in the task at hand?

You may decide to split the job-the contractor does the major work and you do the finishing. Doing at least some of the work yourself can still save you money. Whatever you do, the key lies in doing it well. If that means hiring a professional, do it. A poorly done job can do you more harm than good.

Now let's take a look at some projects you might consider, beginning with some simple steps that can reap huge dividends.

Catch 'em at the curb

"Curb appeal" isn't just catchy real estate jargon. It recognizes the fact that many buyers form their first, and often strongest, opinions before they step out of the car. Remember, buying a home is first and foremost an emotional commitment, especially for first-time home buyers. You may have a long list of logical reasons your home is a good catch, but a buyer is reacting emotionally to what he or she is seeing.

Knowing this, you can use a buyer's emotions to your advantage. First, take a good, hard look at the first impression your property makes. What do people see? If it's flaking paint and an unkempt yard, they may be seeing a home that needs a lot of work.

Here are some investments in your home's exterior that I've found through firsthand experience can pay huge dividends:

Paint

It should come as no surprise that surveys show that painting the exterior of your home results in the greatest return on time and money invested when compared to other improvements done for selling purposes. An investment of $1,000-$2,000 can mean adding $3,000-$4,000 to your asking price. And if you can do a good job yourself, your profit is even greater.

Even if your home doesn't need the full treatment, check the trim around windows and doorways for cracking or peeling, and do any necessary touch-up work.

Many buyers form their first, and often strongest, opinions before they step out of the car.

Landscaping

Another key first impression is made by the grounds of your home. If you can improve the attractiveness of your landscape without spending a lot of money, you can add a good 5 to 10 percent to the value of your home.

Minimally, you should prune existing trees, shrubs and bushes, clean out dead plants and weeds from flower beds and replace them with colorful flowering plants. Because landscaping can become a high-maintenance headache if not done carefully, choose hardy perennials that require minimal care.

If you have a damaged lawn, you may need to take additional steps. The easiest step is to repair damaged sections with new sod. While seeding is cheaper, it won't produce grass overnight. A good patch job can make for a great quick fix.

Other lawn problems-dead areas due to lack of sunlight or a tree's root system-can be solved by planting ground cover or creating additional flower beds.

Like a new paint job, a relatively inexpensive upgrade of existing landscaping can bring far greater returns than what you spend. But don't do anything that would be deemed excessive by neighborhood standards. The idea is to make your home more attractive, not stand out as an oddity.

If you can improve the attractiveness of your landscape without spending a lot of money, you can add a good 5 to 10 percent to the value of your home.

The Driveway

Because it's big, dark, and usually takes up a significant portion of the property in front of your home, a driveway can affect a buyer's first impressions. If yours is in good condition, make sure you keep it swept and neatly edged where it meets the lawn. If yours is cracked, buckled or oil-stained, fix it. Patching concrete can be a problem because matching color is difficult; tar and asphalt are relatively easy to match. Whatever you do, be careful you don't create a bigger problem through quick-fix solutions-use high-quality patching materials and sealers.

Decks and Patios

These can be popular additions that add value, especially with smaller homes, because they add living space. But make sure that whatever you do is consistent with your home's architectural style and integrates well with your outdoor areas.

The Garage

If your garage has that rough, unfinished look, consider drywall and matching switch and outlet plates. At a minimum, make sure all switches and outlets work. And give everything a good cleaning.

Don't neglect the minor details

It's often the little things that really stand out. If your mailbox is in poor shape, replace it. Varnish or repaint your door if it needs it. A door knocker and brass kick plate can also be a nice addition. Spruce up the entryway with new light fixtures, potted plants and other decorative touches.

With the exception of adding a deck or patio, most of the steps I've touched on here can be accomplished in relatively little time and without a lot of money. But the difference in the impression your home makes on prospective buyers will be dramatic.

Ironically, some of the big-budget items you might consider spending your money on will do little to enhance the marketability of your home. Aluminum siding, for example, is prized by some and loathed by others. Hot tubs may or may not appeal to potential buyers. Watch out for changes that you may find appealing but end up limiting your home's appeal to others.

Besides swimming pools, other investments you probably won't see a return on are tennis courts and automatic sprinkler systems. Unless they're for your own enjoyment, don't waste your money.

One major expense you may have to consider is a new roof. But if you think you can pass the cost along to a buyer, forget it. Everyone expects a good roof, and they're not going to pay extra for it. And a roof in poor condition can kill a deal quickly.

Making the best second impression

As with the exterior, I've found that there are plenty of interior tricks to punch the right emotional buttons in prospective buyers.

In all rooms, certain minimum standards should be met:

Ironically, some of the big-budget items you might consider spending your money on will do little to enhance the marketability of your home.

One major expense you may have to consider is a new roof. A roof in poor condition can kill a deal.

These Are The Minimum Standards:

• Make sure all plumbing and electrical systems are in good working order
• Repair cracks in the wall
• Paint-as is the case outside, a fresh coat of paint throughout the house will more than pay for itself
• Remove wallpaper
• Replace missing molding
• Replace cracked or broken window glass
• Make sure window and door hardware match
• Install new floor coverings
• Install new light fixtures
• Make sure switch and outlet plates match from room to room
• Upgrade insulation in drafty or hot rooms

As is the case outside, a coat of paint can literally make the difference between a sale and no sale. Be sure to stick to neutral colors-white or off-white. It tends to make everything look new, clean and bright.

Be sure to paint everything: inside closets, cabinets, pantries, etc. If a prospective buyer opens a door and sees dirty walls or shelves, you've just wasted the advantage you had gained by painting in the first place.

Like paint, new carpeting should also be in a neutral shade. This helps buyers visualize their own furniture in your home.

Wallpaper, like wall colors, makes a personal statement about the owner's tastes. Remove it. Buyers want to visualize what they would do with your house, and wallpaper gets in the way of their dreaming.

Many buyers value good wood floors, so sand and refinish yours if they can be restored. Otherwise, you might consider new flooring. If your home is short on storage space, consider how you can add shelving, cabinets or other storage systems to remedy this deficiency. You may also consider replacing windows and doors with more energy-efficient models.

Taken individually, each of the above improvements may not seem like much. But you'll find that the cumulative effect of fixing even relatively minor problems will be dramatic. A crack in the wall, a carpet stain or a light switch that doesn't work can send a negative signal that results in the loss of a buyer. I've seen it happen.

Now let's take a closer look at improvements on a room-by-room basis, starting with your two most important rooms.

Kitchens and bathrooms have long been the top two remodeling projects, and you can expect them to remain so for years to come. They are the rooms that most consistently make or break a sale. A new or updated kitchen, a sparkling bathroom... these are features that help to sell a home.

The kitchen

If you can get away with a remodel rather than a new kitchen, do it. Because the kitchen is so important, sellers sometimes over-improve them to the point where there is no chance of recouping their investment when they move. Don't fall into this trap.

Add a new coat of paint, refinish the cabinets and counters, change drawer pulls and handles, install new appliances, put down a new floor-but don't gut and start over if it isn't necessary. When adding new appliances, be aware that many buyers consider brand name to be an important factor.

If you don't paint everything, at least repaint the ceiling bright white. You'd be surprised how much it can lighten up the room. Another great way to brighten a kitchen is to add a skylight.

If you do choose to put in a new kitchen, keep in mind what sells. Buyers are looking for lots of cabinets and counter space, new appliances, and an easy flow between the sink, food prep areas, stove and refrigerator. Think sunny, spacious and clean.

A crack in the wall, a carpet stain or a light switch that doesn't work can send a negative signal that results in the loss of a buyer.

Because the kitchen is so important, sellers sometimes over-improve them to the point where there is no chance of recouping their investment when they move. Don't fall into this trap.

When you do make changes to your kitchen, think sunny, spacious and clean.

The bathroom

New fixtures, wall tile and flooring can make a big difference. If the bathtub is in poor shape, you can replace it, but a less expensive option may be to re-enamel it. If you keep the old tub, at least regrout and recaulk it. A good bathroom remodel or expansion can easily return more than 100 percent of its cost when you sell.

If you're feeling ambitious, adding a half-bath or second bath to a one-bathroom house is another option to consider, space allowing. Whatever the family size, one bathroom never seems adequate to most people.

Bedrooms

For most people, the master bedroom is the third most important room in the house. If you have a large home with four or five small bedrooms and the floor plan allows for it, you might consider combining two rooms into a master bedroom. If you have a two- or three-bedroom home and a decent-sized lot, you might consider adding another bedroom.

Trends to watch

A more recent hot remodeling trend is the "great room"-combining the kitchen, dining and family room into one larger living area. While lagging behind kitchen and bath remodels, it is definitely a trend on the rise. Living rooms, family rooms and formal dining rooms, on the other hand, are diminishing in popularity.

Another relatively new wrinkle is the home office. With more home-based businesses and more companies allowing employees to telecommute, more people are looking for office-ready space in their homes. A recent survey conducted by Builder magazine found that nearly a third of buyers in their 20s, 30s and 40s plan to use a room as a home office. Other rooms that are showing up on more buyers' wish lists are exercise and media rooms.

Questionable projects include fireplace additions and installation of elaborate security systems. You can find professionals who will argue for and against both of these projects. But with concerns about home safety on the rise, security systems appear to be moving into the "desirable" column.

Many of these projects are relatively inexpensive and will easily pay for themselves. With some projects, you may not recoup your investment, but you will have removed impediments to a sale. If you don't take care of things like leaky plumbing, drafty windows or outdated light fixtures, you're giving a buyer ammunition to use against you during negotiations.

A good bathroom remodel or expansion can easily return more than 100 percent of its cost when you sell.

A more recent hot remodeling trend is the "great room"-combining the kitchen, dining and family room into one larger living area.

A home office is another room that is rising in demand and interest.

Home improvement "don'ts"

There are several things you can do that can actually lower the value of your home or make it more difficult to sell. Here are a few rules to keep in mind:

Do it well, or don't do it at all

You may be tempted to do a lot of work yourself to save money. That's fine if you know you can do a good job. But if doing it yourself means a sloppy paint job or bubbles in the vinyl flooring, then I suggest hiring a professional. Hiring an expert can often be cheaper and faster in the long run. This is especially important when dealing with electrical systems or plumbing problems.

Don't over-improve

Any project that raises your home's value by more than 20 percent above similar homes in your neighborhood should be reconsidered. The reason is simple. Say your home is typical in a neighborhood of $100,000 homes, and you make $50,000 in improvements. Buyers looking for a $150,000 home are looking in neighborhoods where that is the norm, not the exception.

Don't plan on moving soon if you're spending a lot

You probably won't recoup your investment if you plan to move in less than two years. If you plan to move sooner, spend less money and focus your efforts on the most egregious problems. For example, turn a bad kitchen into a decent one rather than a chef's kitchen.

Any project that raises your home's value by more than 20 percent above similar homes should be reconsidered.

Don't make unique improvements

Sure, you may love the built-in bookcases on every wall of your guest room, but prospective buyers will probably view them as a nuisance to tear out-which means they'll be less willing to meet your price. Also, avoid remodels that make unusual use of a particular room. Anything that limits flexibility will limit interest in your home.

Don't create a mess

Make sure your floor plan will make sense when you're done. Be careful not to make changes that impede the natural flow of the house-closing off halls, doorways, etc. Room additions in particular are often done very poorly. If it looks like something tacked on to the original house, don't do it. Adding a bedroom whose only connection to the rest of the house is through another bedroom should also be avoided.

As you can see, squeezing every last dollar out of your home sale can be a fairly involved process. But when you consider the end result-a quicker sale and top dollar for your efforts-I think you'll find that a few well-chosen home improvements are worth both the time and money.

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Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provides the information you need to be an informed home seller.

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Here's How to Avoid Mistakes That Could Cost Hundreds, Even Thousands of Dollars When You Sell Your Home

The old notion of caveat emptor-"buyer beware"-has been turned on its head. Lately, with all the talk about "buyers' markets" and "changing real estate values," as well as the myriad complexities and legal ramifications of today's real estate transaction, a more appropriate sentiment may be "seller beware."

The average homeseller may feel like a lamb in the lion's den. In such adverse conditions, it seems everyone is out to pull the rug-and your profits-right out from under you.

But even during the best economic times, hundreds of home owners still throw money away because of poorly made decisions during the sales of their homes.

This information is designed to give you the tools you need to protect your most important investment when it's time to sell. Before you put your house on the market, follow this informative guide to reap the maximum rewards possible.

Clearly Know Why You Want to Sell

Do you want to "get the profit out" of an appreciated home? Are you moving to a new area or wanting a larger home? Whatever your reasons, there are sure to be a lot of emotions involved with the selling of such a personal investment.

The more you can separate the emotions from the actual goals you need to achieve, the better a position you can be in to evaluate your options and negotiate the best results.

Make sure that you've examined all of the alternatives and that selling is really the best decision in your situation.

Keep in mind that no matter how much you sell this house for, you're still going to have to live somewhere.

Make sure that what you can afford to buy after the sale makes the process of selling worth it.

Your Realtor® can help you not only by making you aware of all of the costs involved in selling and the approximate amount of profit you can realistically expect, but also by helping you research the area or home you're interested in moving to and how much you'll have to spend on the other end.

Carefully Evaluate Your Property

As objectively as possible, take a walk through and around your house, trying to look at it as a potential buyer would.

Make a list of all the things you would want to change or repair if you were going to remain living here.

You may not wind up doing all of these things, but start taking care of the small and inexpensive repairs and make sure your home is as clean and attractive as possible even before contacting a real estate broker to list your property.

Their first impressions of the general appearance of your home will color an agent's conclusions about how easy or difficult your home will be to sell and about the right price for your home.

If you make your home more inviting, the agent will be more eager to bring buyers through to show it off.

By making the broker's selling job easier, you increase your chances of getting the price you want-or at least a price close to it.

Understand the Current Real Estate Market

As a seller, the asking price you determine for your property must take into account the following criteria:

• the level of supply and demand in the current local market,
• the condition and features of the house itself,
• current sales prices of comparable properties in the area,
• the condition and features of the neighborhood.

As you can see, very few of those things are within your control. However, you'll be in a much better position to make the most of your sale if you at least have a full understanding of all the elements involved.

All of the economic realities that affect your home's market value are reflected in the prices of recently sold homes.

Your real estate agent should provide you with a complete comparative market analysis showing the listing and sales prices and the features of other homes similar to yours in the area that have sold recently as well as the features and listing prices of homes currently for sale.

The report should also reflect the length of time each of these homes have been on the market.

No matter how much you think you may have already learned from talking to neighbors and looking at ads in the local papers, seeing the hard, cold facts is still usually surprising to most sellers. You're likely to find that the people you talked to tended to "round off" or exaggerate the prices they bought or sold for.

For Sale By Owner vs. Hiring an Agent

Many homeowners believe that to get the most money out of their home sale they should sell it themselves, thereby saving the commission they would otherwise pay to a broker. Indeed, approximately one-fourth of home sellers each year do not use a real estate broker and about 72 percent of those are happy with the results they achieved.

However, close to half of that 72 percent also stated that the next time around they would hire a real estate professional to help them sell. Why?

For many, the time, paperwork, research and hassles involved in getting their home sold on their own were not worth the amount of money they saved in commissions to a broker.

For others, by the time they figured in the amount of fees paid to outside consultants, lawyers, inspectors, appraisers, and title, escrow and loan officers as well as marketing, advertising and other services and vendors, they may as well have paid the broker's fee, which may have included some of these charges up front.

Some will also have discovered that the cost of recovering from a misstep or bad decision based on inexperience or lack of guidance more than outweighed the amount they saved in real estate agent fees.

Questions You Need to Consider:

• Do I fully understand the steps and legal and tax ramifications of selling a home?
• Am I prepared and able to deal with buyers-especially those who see FSBOs as ready targets for low-ball bids?
• Do I have the time and ability to devote my energy and efforts to everything that selling a home requires?
• Do I have a plan for handling the legal contracts and agreements involved as well as any disputes with buyers both before and after an offer is presented?
• Have I researched financing options that buyers will need and expect information about?
• Have I contacted all necessary professionals, including a real estate attorney, a home inspector and a termite inspector, etc., and agreed with each on their specific parts of the deal?

If you are a first-time seller, these questions are even more important since you haven't been through the process before.

Set a Realistic Goal

After answering all these questions, if you still feel that maybe you'd like to try to sell on your own, you may want to give yourself a time limit-just as you would give an agent in a listing agreement.

Then, after trying it on your own, if your home hasn't sold, reevaluate your situation and consider whether you need to pursue other options.

Whatever the case, you always have the option to consult with several qualified agents and determine whether their services are worth the price you would pay.

In the vast majority of cases, they are.

Choosing the Right Real Estate Agent

Once you've decided to consult with an agent, the decision of which one to choose is probably the biggest and most important decision you'll make in the entire process.

The best first step is to talk with close friends and relatives who have recently sold a home. Ask if they had a good experience, whether they would recommend the agent and if they had any reservations or things they wished the agent had done differently.

Also talk to professionals you may know in related industries, including lenders, title officers, contractors or builders, accountants or lawyers. Ask them what it is they recommend about the agents they refer and whether they themselves have ever used the agent's services.

Finally, look around your neighborhood to see what agents seem to be listing and selling the most houses. Take a look at the ads, direct mail, brochures, signs and other materials that the agents use to promote the houses they sell.

• Do they seem professional and high-quality?
• Do they present an image of an organized, competent professional?
• Do they impress you as someone you may be interested in working with?

Keep in mind that if you don't like the way they market themselves and other people's homes, you probably won't like the way they market yours either.

The Next Step

Once you have a list of several names, call each of them and explain that you're thinking about selling your home. Ask them if they have any information that they could send you, since you'd like to be able to make a decision about which agents to interview before you list.

The most professional agents will have personal brochures that introduce you to them and let you know a little bit about who they are and how they work.

What You See Is What You Get

Again the quality of these materials will say a lot about the quality and the professionalism of the service they provide.

Also, pay attention to how they respond to your request.

• Do they seem professional and high-quality?
• Are they friendly and helpful?
• Or just pushy and hungry for a listing?
• Does this seem like someone you'd be interested in talking with?

If they aren't organized and professional enough to respond promptly to your first request to find out more about them, they'll probably handle potential buyers for your home the same way.

If you like the way they respond to you and are impressed with the information they supply, invite them to make a listing presentation.

It's always a good practice to meet with more than one potential agent before making a final decision-usually three to five for sellers.

Just make sure that you don't meet with more than one from the same company. This could cause internal strife which would be counterproductive in marketing your home.

What to Look For During the Listing Presentation

Every agent you meet with will have a different style and a different way of presenting his or her services. During your meeting, think about how comfortable you feel with this person and how well they communicate with you.

This is your chance to evaluate this person at his or her "best" in a sales situation. If you don't like what you see, think about how potential buyers for your home will respond.

What you should be looking for, first and foremost, is an honest and knowledgeable individual, working full-time and representing a solid and reputable real estate agency, who will treat your best interests as paramount.

Length of time in the business, track record of success, previous experience, expertise in and knowledge of the local real estate market-all of these are factors to consider.

While the right agent to market your home may not be number one in terms of every aspect, you want to make sure that the person you hire is a well-rounded individual who you can trust and respect as a professional.

Get to the Heart of the Matter

Ask the agent what he or she will do to expedite the sale of your home.

A good response is one that is a direct and comprehensive plan of action reflecting your goals and your unique situation. Despite having the same basic marketing tools at their disposal, every real estate professional has a different marketing strategy.

Look for someone who doesn't rely on the same marketing tool every time.

What worked for yesterday's seller may not get the results you want. The key is to find an agent who will use all the tools available to your best advantage.

Communication is another key.

Make sure your agent not only demonstrates an in-depth understanding of the entire process, but is able to explain it to you clearly and let you know what things, if any, are particularly critical given your individual transaction.

He or she should have enough experience and expertise to be able to handle whatever comes along during your sale, even if it's something they've never seen.

Ask your agent exactly what you can expect from them during the sale in terms of service and communication.

A true professional will provide you with a checklist of exactly what they'll do for you as well as a systematic method of providing you with frequent feedback on the status of your sale.

Only with the proper up-to-date information can you make the decisions about your sale which will help you realize the most profit.

Be Open to Your Realtor's Suggestions For Staging Your Home

Chances are, your real estate agent will make specific suggestions regarding cosmetic and/or major changes in your home's appearance to make it more attractive to buyers-perhaps even specific buyers he or she has in mind.

This is called staging the home, and any good Realtor® will go over this information with you.

Remember not to take things personally-you may love bric-a-brac on every surface and may feel emotionally attached to the many antiques filling each room, but your agent may ask you to pack some of them away so that potential buyers can picture their own furnishings in the rooms rather than feeling they're intruding on your personal space.

A competent and professional agent will make these type of recommendations based on the experience he or she has gained through other transactions as well as an earnest desire to help you get the results you need.

Here's a complete checklist of things you can do to improve your home's salability:

Living Room

• Rearrange furniture to enhance the room's appearance.
• Remove all excess furniture or rugs on top of rugs.
• Review color scheme of walls, drapery, carpets and furniture. If the room is too dark, repaint the walls, add brighter wallpaper, replace dark paneling, or install lighter carpets and drapes.
• Remove magazines, books and other personal items from surfaces.
• Clean carpeting, mop and wax or vacuum all floors and dust furniture.
• Make sure walls are clean and free from holes and dents. If necessary, use spackling compound for dents and holes before painting.
• Rearrange bookshelves and knickknacks to enhance the room's overall impression.

Kitchen

• Rearrange pantry and cupboards to create a neat and orderly appearance.
• Clean all appliances and sinks.
• Place new burner plates under the burners of stove.
• Clean or patch grouting between tiles and replace missing or cracked tiles.
• Use porcelain repair products to fix chipped porcelain on sinks or appliances.
• Polish faucets and faucet handles. Buy replacement faucet knobs if necessary.
• Make sure all appliances are in proper working order.
• Remove all garbage.
• Check oven to ensure that all vents are clear of grease and odors. Clean or replace filters, ventilation and exhaust fan.
• Replace low-wattage light bulbs to make the room as bright as possible. For very dark kitchens, install track lighting.
• Paint cabinets or install new ones.
• Replace older cabinet handles.

Dining Room

• Thoroughly clean dining room table. Revarnish the surface if necessary.
• Repair worn upholstery on chairs.
• Clean glass in china cabinet and polish china and silver on display-or pack it away.

Bathrooms

• Check tiles. Replace all that are worn or chipped.
• Replace floors worn by water damage.
• Caulk and grout tile joints.
• Remove all grime, water stains and mildew.
• Thoroughly clean all surfaces.
• Repair all leaky faucets and shower heads.
• Polish faucets and faucet handles. Buy replacement faucet knobs if necessary.
• Clear counter tops and rearrange cabinets inside to create a neat and orderly appearance.
• Clean and rearrange medicine cabinet. Remove clutter.
• Put out fresh towels, including a guest towel.
• Check strength and condition of all towel racks. Tighten loose racks.
• Replace worn shower or bath curtains.
• Install bright light bulbs.
• Check exhaust fan. Repair if in poor condition. Clean vent openings.

Bedrooms

• Rearrange furniture to improve impression.
• Remove excess furniture: more than one double/queen/king bed or more than two twin beds per room, or extra chairs, dressers or night stands.
• Make all beds and wash all bed coverings and replace if worn.
• Remove loose or extra toys and clutter from children's rooms.
• Clean all carpets, floors and drapes. Leave drapes open to brighten rooms.
• Replace burned-out or low-wattage light bulbs.
• Clean night stands and side table surfaces.
• Remove personal items and clothing from all surfaces.

Closets

• Install lights where needed.
• Rearrange storage areas and remove clutter.
• Rearrange clothing to create an orderly, roomy impression and pack away excess or out-of-season clothing to give a spacious appearance.
• Repaint inside surfaces if needed to make closets as bright as possible.
• For smaller closets, install shelves to increase storage space.

Garage/Basement/Attic/Utility Rooms

• Rearrange storage areas and remove clutter.
• Clean floors, removing oil stains and dirt.
• Sweep the entire area.
• Clear workshop area and store all tools and equipment.
• Remove all spider webs, lint and dirt.
• Make sure all openings to outside are screened or vented.
• Make sure garage door(s) and opener, if any, function properly and are in good condition.
• Check washer and dryer, clean filters and call service company for required maintenance.
• Clean appliance surfaces.
• Remove all laundry.
• Repair sagging beams as needed.
• Check for water damage, make needed repairs.
• Investigate musty odors or smell of gas, and make necessary repairs.
• Repair broken lights.
• Inspect air conditioning, heater or furnace, and water heater for maximum safety and energy efficiency. Replace filters and maintain as needed.
• Check insulation and repair or replace as neccessary.

Living Areas

• Repaint when wall or ceiling conditions are poor, or previous paint is faded or too dark. Paint in white, beige or light pastels.
• Remove wallpaper that is too bold, outdated or damaged. Replace with neutral paint or subtle, tasteful and neutral prints so that color scheme coordinates throughout house.
• Replace loose, shifted or deteriorated sheetrock or panels. Repair all cracks and holes.
• Clean all walls and moldings.
• Wash all windows and replace broken panes. Also replace all cut or rusted screens.
• Check all windows for alignment and ease of operation. Repair so they work freely.
• Check window moldings and weather stripping, and repair for water damage and age.
• Clean and check all draperies and repair or replace as necessary.
• Clean and wax exposed floors.
• Repair creaking or loose floorboards.
• Repair loose steps, and check stairs for loose handrails, treads or posts.
• Clean carpets or replace old, worn carpets or rugs.
• Check all doors. Oil to eliminate noises, tighten knobs and hinges and ensure that all doors shut and/or lock properly.
• Replace all broken light bulbs, cracked lighting fixtures or old switches and plates.
• Repair all inoperative electrical outlets and plugs.
• Polish all brass, chrome or glass surfaces.
• Make sure all smoke alarms and burglar alarms are functioning properly and add or replace them as necessary.
• Keep fresh flowers on display.
• Open windows before showing home to air it out.
• Eliminate all odors with a pleasant air freshener.
• Remove pet bedding, food and water dishes, and litter boxes.

Front Door

• Replace or repaint worn front door to create a good impression.
• Polish or add brass door knocker.
• Make sure front door has a working peephole.
• Check doorbell and repair or replace as necessary.
• Replace worn mailbox.
• Make sure house number is clearly visible and attractive.
• Polish, repair and/or replace all door handles and locks. Make sure all outside doors have deadbolts or other safety locks.

Lawn

• Mow lawn, remove all weeds and water regularly.
• Use a good quality lawn food to make grass healthy and ammonia sulfate (available at garden or hardware store) to bring out the green. Reseed or resod thin or brown lawn.
• Cut grass back from edge of house as well as from plants and trees.
• Trim edges by fences, walls, walkways, sidewalk, driveway and around plants, hedges and trees.
• Remove all children's toys, garden tools and hoses.
• Repair loose or broken fences, or cracked or loose retaining walls.
• Clean up after pets.

Trees/Shrubs/Gardens

• Remove all dead limbs.
• Remove and/or replace dead trees or shrubs. You can also use potted plants in yard and then take them along with you when you move.
• Trim shrubs.
• Remove overhanging or intruding limbs from walkways, gutters and utility lines. Cut limbs from neighboring yards.
• Spray for insect infestations.
• Trim all vines or other growths from fences.

Terraces/Porches/Decks

• Remove debris from all surfaces.
• Clear storage areas.
• Restain, repaint or seal all wooden decks.
• Check and secure all railings.
• Clear all spider webs and insect nests.
• Wash entire area.
• Resurface stained or worn areas. Repair all cracks.

Driveways/Walkways

• Resurface stained or cracked areas.
• Patch all holes.
• Seal all asphalt.
• Replace thin gravel areas.

House Exterior

• Repaint or reshingle if necessary.
• Check all shutters and awnings. Tighten if loose or replace if worn.
• Clean out gutters and downspouts. Repair or replace as necessary.
• Check, repair and replace flashings, vents, chimneys, stacks and skylights.
• Check, repair and replace exterior lighting as necessary. Use bright bulbs.
• Paint all railings.
• Repair cracks in foundation, walls and steps.
• Clear leaves, snow, ice or other debris from walkways and porches.
• Replace worn trashcans.

Know What Upgrades Will Bring You the Best Return

Generally the best investments when preparing your home for sale are those upgrades or modifications that bring you highly visual improvements throughout a large area for a minimum amount of money rather than those that concentrate a substantial investment into a small area.

For example, replacing worn carpet throughout the house is in most cases more valuable to a buyer than a customized closet in the master bedroom.

Remember quality counts, up to a point.

If the stove in your kitchen is broken or extremely worn, replace it with a middle-of-the-line model from a well-known, quality appliance manufacturer rather than the best of the best.

At the same time, making shoddy repairs or using cheap replacements to "get by" may save your initial investment, but won't get you anywhere in the perceived value of your home.

Potential buyers will see through them and figure they'll still have to redo it themselves anyway.

Ask your real estate agent for a list of suppliers and contractors who may be able to help you with major repairs or services. Most Realtors® have formed relationships with various vendors who may be able to offer you preferred pricing or exceptional service.

Anticipate Buyer's Questions

If your home has the potential for major improvements or renovations, find out ahead of time what the feasibility and approximate costs some of the more obvious ones would entail as well as what improvements may be restricted by your city or homeowner's association.

This helps buyers realize the long-term value and potential of your home.

Once again, your real estate agent may be able to put you in contact with contractors who could give you estimates or have access to reliable information about the costs of renovations or additions other homeowners in the area have made.

Understand Disclosure Laws and What Inspections You Will Need

In addition to having your home appraised for market value, you will also be required to have your home inspected at least twice: once for structural problems and again for termites.

During the past decade, legal rulings have made it clear that sellers and their brokers must not only make purchasers aware of known problems and defects with the property, but they must also "conduct a reasonably competent and diligent inspection of the residential property listed for sale and to disclose... all facts materially affecting the value or desirability of the property that such an investigation would reveal."

So not only is it important to be completely up front about problems you're aware of, but even what you don't know can hurt you.

Your Realtor® can help you find the right qualified inspectors to investigate all the structures and systems of your home.

Know Who You're Dealing With

When your home is listed in the Multiple Listing Service, many agents may be showing it to various buyers and actually helping to get it sold.

With the many roles that agents play-seller's agents, buyer's agents, dual agents, transaction brokers, etc.-it's sometimes hard to keep straight exactly who is working for whom.

Make sure you know who is represented by any agent presenting an offer.

Your seller's agent is bound by fiduciary responsibility to you. Never tip your hand or reveal your bottom line to anyone who is not.

Plan Your Negotiation Strategy Ahead of Time

Determine in advance what your real "bottom line" is-the minimum offer that you would accept. Keep in mind that it's one thing to think about a minimum offer, and it's another thing to be faced with losing a sale if you won't accept a little bit less.

Some flexibility may be required.

Your real estate agent can help you understand all of the implications of price versus yields and terms. In some cases, you may decide to save a deal by giving the buyer his price while working out terms that are even more favorable for you.

Know How to Tell a Good Offer From a Bad One

Take a proactive approach to looking at any offer that comes your way.

Review each offer in the following order:

• Deposit. How much and who has it? Is it a sufficient deposit to indicate a serious offer?
• Price. How does the amount offered compare to your asking price and your private bottom line?
• Down payment. Cash? If not, why?
• Terms. Is it a new first loan? Are they requesting seller financing? How do these terms affect your profits?
• Occupancy. How soon do you have to move out?
• Contingencies. Are there any listed? If so, what are they and how do they affect your profits?

In some cases you may want to have your real estate attorney look over the offer. That's fine if you want to be safe and have him or her explain complex clauses and protect your position.

Just be sure that your attorney doesn't hedge your bets so closely that you lose a potentially good sale or insist that the deal so heavily favor you that no buyer would be interested.

Never Be Afraid to Ask Questions

It's just like being back in school: There's no such thing as a stupid question, particularly when your home and your most important investment are at stake.

If you feel your questions are being scoffed at or not answered clearly or appropriately, ask someone else and keep asking until you understand.

Never Reject An Offer Out of Hand

Don't jump to conclusions even if you hear that an offer is substantially lower than your asking price. The terms may make up for it, or vice versa. And in any case, you can always make a counteroffer.

Even if you decide you can't accept a particular offer, it's almost always best to present a counteroffer.

Examine All Contingency Clauses Carefully

Contingency clauses are often handwritten into the offer document and, as a result, can be easy to overlook.

Be sure you understand exactly what the contingency means to you before you accept or reject it.

Some Typical Contingencies Are:

• The buyers will only purchase if and when they sell their present home. This can be good or bad for you.
• The buyers will only purchase if and when they get new financing. (Assuming they have already been prequalified, this can still mean an excellent offer.)
• The buyers will only purchase if and when Great-Aunt Ethel's inheritance comes through. Forget it!

Your goal is to let as few of the buyer's contingency clauses as possible into the agreement and to limit the ones you do allow by time and performance.

You need to decide if any contingencies are reasonable, whether they negate the value of the offer, and if you can live with them. If not, you should proceed with a counteroffer.

Weigh Your Counteroffer Carefully

You have three choices when it comes to any offer presented to you:

• You can accept it as is.
• You can reject it.
• You can reject it and provide a counteroffer.

You cannot accept it and then make changes!

Realize that any time you reject a buyer's offer, they have the right to walk away from the deal completely. Therefore, if an offer is very close to what you want, you may be making a mistake to counteroffer and insist on having your cake and eating it too.

You risk losing what may be a sure deal.

The most common areas in which you may wish to counteroffer are price, terms, occupancy and contingencies.

Remember that any time you make a counteroffer-even in just one area-you reject the buyer's offer and they may decide to counteroffer by making changes in some other area as well.

Watch Out For Traps

Beware of "splitting the difference."

For example, say you're asking $200,000 and they offer you $180,000. You figured you'd probably only get $190,000 anyway so you split the difference and counteroffer $190,000. Rather than taking your offer, the buyer decides to play the same game and counters with $185,000.

Now you're stuck. If you split again, you're stuck making an offer that's lower than your minimum. But if you reject it flat out, you may lose the deal!

Consider How Flexible You Can Be

With Terms and Occupancy

If buyers are asking you to carry part of the financing, remember: Everything is negotiable.

You may agree to their proposed terms, but change the length of the loan or the interest rate. You may be able to strike a deal that benefits them by giving them lower payments or a lower down, while making you better profits in the long run.

Also, remember that timing isn't always everything.

If the buyer's moving plans conflict with yours, consider some alternatives:

• Change your plans.
• Move and rent until you can move into your new home.
• Stay and rent from the buyer.
• Pay the buyer a bonus to change their plans.
• Pay rent for the buyer until you can move out.

Consider how much the inconvenience is worth to sell your home.

Know When to Draw the Line

Let's say you've received an offer, made a counteroffer and haven't heard back from the buyers. Is the deal dead?

Maybe not. You may want to consider making another counteroffer.

To avoid looking like you'll keep coming down if they just wait you out, go out of your way to make it very clear-through the agent, if possible-that you'll only do this once. If they don't take it, you won't counter again.

Know What You're Accepting

Have your real estate agent, and perhaps your real estate attorney, go over all the paperwork before you sign it, making sure that you understand and agree with every part.

Avoid Problems Before They Happen

Choose your escrow company carefully.

Consider their fees, recommendations from others who've used them, location (since you'll most likely have to go to their office to sign the final papers), and size (a large staff doesn't always mean a better company, but it may mean quick and efficient service).

Determine before you sign a listing or sales agreement whether it contains clauses or wording requiring you to use a certain escrow company.

While the escrow officer is never "on your side," you want to make sure that person isn't on someone else's side either.

Make sure your buyer has been approved for financing ahead of time. Otherwise delays in the loan-approval process can extend your closing.

Investigate whether your property may be subject to any liens which may impede title transfer.

Particularly if you have owned your home for a long time, there may be liens attached from the past that you weren't aware of.

Make sure all necessary inspections are completed by qualified inspectors.

Understand All the Parts of Your Escrow

Make sure you understand all the requirements and steps of your escrow and are ready to act with no delays.

Escrow does: Escrow does not:

• Prepare instructions for
• Examine the property. seller and buyer.
• Secure financing.
• Collect all documents.
• Solve title problems.
• Prepare necessary documents
• Order inspections for signatures.
• Give advice.
• Hold all monies.

Examine Your Closing Costs

Unexpected closing costs are one of the easiest ways to eat up the hard-won profit you thought you were making on your home sale.

Make sure the only closing costs you pay are the ones you agreed to up front or along the way and that you're not suddenly picking up part of the buyer's costs or paying for something that wasn't actually done.

By following this in-depth guide, you can rest assured that when you receive your settlement check, you've gained the maximum benefit from your home sale.

Congratulations! Now go out and spend it all in one place-your new home!

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Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provides the information you need to be an informed home seller.

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The correct selling price of a property is the highest price the market will bear. To assist you in determining the correct asking price I will provided you with a Comprehensive Market Analysis of comparable properties that have been recently offered for sale in the area of your property.

The analysis is based strictly on properties that can be considered similar to yours, and will be prepared for you and all information will be strictly confidential.

The comprehensive property analysis is divided into four categories:

• Similar properties that are currently listed
• Similar properties that have recently sold
• Similar properties that have sales pending
• Similar properties that failed to sell

By carefully studying the comparable property locations, features, and the terms under which they are offered, we can develop a clear picture of the potential market for your property.

By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from. We can be certain that we are not under pricing your property.

By looking at similar properties recently sold, we can see what buyers have actually received over the last few months. This is the acid test that is used by lending institutions to determine how much they will be willing to lend a buyer for your home.

While we naturally want top market value for the home, we can agree that there's a point where the price would be too high. By looking at homes that didn't sell, we can accurately determine that price point and be careful not to get too close to it. By doing my homework diligently, I can get maximum dollars for your property in a reasonably short period of time.

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Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provides the information you need to be an informed home seller.

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