We‘ve got a hot Denver real estate market and some might think it doesn’t take a lot to sell a home in Denver. That couldn’t be further from the truth! 75% of the battle is keeping a real estate transaction together to make sure those deals close. While we are recovering well from the past economic downturn, we need to remember what caused that in the first place lest we end up there again. So what does this have to do with our desires to sell a home in Denver? Plenty! The players in any real estate transaction involve far more than the buyer or the seller, unless someone is buying Denver real estate with cash. The real estate contract hinges on a property inspection, an appraisal, underwriting, title and liens against the property, the seller, the buyer, and more which all affect your ability to sell a home in Denver. The landscape of the Denver real estate market and all things associated with it change frequently. To stay in front of these changes to sell a home in Denver you’ll want to subscribe to our blog where we post articles, videos, podcasts, etc. specifically aimed at keeping you informed. If you have questions about the Denver real estate market or how to sell a home in Denver, you can call or email us, or submit them via the Housing Help link.
Set the stage to sell a home in Denver
I am sure you’ve heard it over and over again to prepare your home for sale before it goes on the market. The problem is most people are far too close to their own homes to see it through the eyes of a buyer. And realtors as a rule don’t like to be the person to tell a homeowner their home doesn’t show as well as it should. Even in a fast market such as Denver real estate, homes near and far are in competition with one another. In order to get top dollar to sell a home in Denver you’ll need to pull out all the stops to be the one and only home buyers want to buy. Your goal is to create a multiple offer situation where you have buyers in a “bid war” for your home vs other Denver real estate. That all begins with showcasing the property all the way from the curb to the back yard fence. Take a look at this article, Six Tips for Selling Your Home in a Shifting Market, to help you organize your thoughts and home for the selling season. At Colorado Front Range Properties we are here to help you with the sale of your home and would be happy to give you some personal points to sell your home at the best possible price.
Pricing your home to sell
Often homeowners wrestle with the decision to sell their home thinking they might prefer to remodel or upgrade their home and stay put. While you could make these improvements they are not always going to net the dollars out that you put in. So plan to stay a while and enjoy the upgrades, and just maybe the property values in the rest of the neighborhood will catch up to the investments you have made. The National Association of Realtors puts forth every few years a Cost vs. Value Home Report which identifies the cost of home improvements and the recapture of those costs in the home’s value. After looking at that, you are very likely to decide to sell your home because it’s nearly impossible to get back the money required to make large home improvements. To sell a home in Denver you’ll need to come up with a price and that usually means you’ll need a comparative market analysis. You can get an idea of the market value of your home by looking at a Market Snapshot of the neighborhood for real estate Denver. Don’t take these values as the gospel, because a true valuation comes from the Denver MLS (multiple listing service) requiring analysis and interpretation of the real estate Denver data. That’s what a seasoned veteran Realtor can do for you. You can also get an idea of your home’s value by searching homes for sale in your neighborhood. Or you can order a fee based appraisal provided by an appraiser. This is usually costly, and the data they collect comes from the same source as does the Realtor’s comparative market analysis. Be aware of changes coming from Fannie Mae and Freddie Mac of tightening the appraisal methodology next year. Your Realtor should be informed about these requirements and share additional comparable data with you to support your pricing valuation for real estate Denver. Failure to price your home appropriately will likely result in no sale. To request a comparative market analysis to sell a home in Denver, fill out the Find My Homes Value form. Knowing the competition is the key to sell a Denver home, which means you’ll need an Understanding of the Denver Real Estate Market and I am happy to discuss these key concepts with you.
Marketing plan to sell a home in Denver
Once you’ve decided to sell your Denver home, the fun begins . . . marketing, which means showings! This is generally the least convenient part of the home selling process because you have to allow for buyers to come through the home when it suits them. To sell a home in Denver you’ll have to come up with a detailed marketing plan that brings results. You can try to sell your home yourself, and maybe you’ll be one of the lucky few to see it through to closing. Trying to sell a home in Denver as a For Sale by Owner is not fun and it puts the owner in a bad position because they are doing all the work and more importantly letting the buyer size up the seller. In a recent post by the folks at Keeping Current Matters, they illustrated the hazards of selling your home yourself. Even Realtors do not rely on themselves to sell their own homes because they are then too close to the real estate transaction which does not allow them to reap the most they can from the sale. Keeping a distance between the seller and the buyer buffers each party allowing no one to get hung up on price and terms for real estate Denver. To get the most money when you sell a home in Denver you’ll want to attract the largest crowd of qualified buyers to your home and that involves extensive marketing. Inside the Seller Informational Packet you’ll find a detailed marketing plan to sell a home in Denver, along with biographical information, contract elements, and how to select the right Realtor to sell your home.
Contracts and negotiations to sell a home in Denver
Once you get an offer(s) it’s time to critically review and analyze the strengths and weakness of the offer itself and the buyer. This is no easy task even though most offers come with a lender letter about the buyer’s glowing ability to qualify for financing. These lender letters are usually “boiler plate” and don’t mean much unless you are skilled at interpreting them and asking the right questions. Just remember, it’s not a done deal till it’s closed. Realty Times has a great article about negotiations to sell a Denver home, Three Negotiating Mistakes Sellers Make. Accepting the right offer is paramount to getting to the closing table. Too often we see seller’s accept an offer only to find out the buyer cannot qualify for the loan, or the property failed an inspection, or worse yet the appraisal did not come in at the price agreed up. You’ll have to remember that not only does the buyer need to be approved for the loan, but so does the property. Additionally if there is an HOA and if the property is subject to a homeowners association then the HOA must be approved by the buyer’s lender. There can be title issues which impair the sale and survey problems with easements, boundaries, encroachments, etc affecting real estate Denver. When things fall apart, the home is back on the market and both the property and the seller have lost valuable time. As mentioned at the top of this page, 75% the hard work is keeping the transaction together and the best way to do that is to do your homework and be prepared for the other parties and elements to see your transaction to a successful real estate Denver closing. Take a look at the Tips For Surviving Your Home Sale in Denver to help you through the process to sell a home in Denver. Listed below are some great resources for your reference when thinking about how to sell a home in Denver.
- Real Estate Glossary
- Real Estate Agents and Realtors – What is a Realtor?
- Why Choose a CRS Designated Realtor
- Classes and Workshops – Online and Offline
Let’s get started selling your home
Give us a call and let’s talk about you, your housing needs, and how we tie it all together for you. We have over 30 years of experience in the greater Denver metro area and know how to get the job done to sell your home for the highest possible price with the least amount of inconvenience to you. Just submit the form below, drop us an email, or call us for a consultation and comparative market analysis of your home. Stay connected with us via our blog for new posts about Denver real estate and take a look at our blog as we bring you information you can use today to sell a home in Denver. We look forward to being of service to you.
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