Steps in selling through Picket Fence

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1. Prepare yourself: Know what to expect, average time on market, steps involved.

 

2017 Sales Data 
Success Rate*      
Time on Market 1st QTR 
 
Champlain Valley 80% sold 30 days (ave.)  
Northern & Central VT 79% sold 67 days (ave.)  
Southern VT & NH 77% sold 61 days (ave.)  



 

 

 

 

 

 

Knowing the average time on the market prepares you to expect that it might take that amount of time to sell. Realistic expectations immunize you against real estate agent lies designed to discourage you. Agents will contact you to try to discourage you. Only unsuccessful agents contact private sellers directly as they have lots of free time on their hands and try to drum up business by any means possible.

 

*Success rate is for those giving it at least 3 months in Champlain Valley & No. & Central VT and at least 3 months in So. VT & NH. For comparison, the average time on the market with agents was 185 days in 2013 in Vermont and 121 days in NH (As of 2014, agents no longer provide time on the market data).


2. Prepare your home: Do that deferred maintenance. Buyers want a home in 'move-in' condition and will make low-ball or no offers on poorly maintained homes. De-clutter, clean. Make sure each room is neat and excess stuff is stored away.

3. Price your home. Consider getting a professional real estate appraisal (optional) to properly price your home. Guessing at your price or ballpark estimates will cost you dearly - maybe many thousands!  An appraisal is as close to knowing exactly what your property is worth as you can get. An appraisal enables you to defend your price as fair, immunizes you against lowball offers and protects you from panicking and dropping your price. Appraisers also take photos which you may want to use in your ad (just ask).

4. Take photos, and write a description of your property (see "Tips on Writing Your Ad" and "Taking Great Photos"). Advertise in Picket Fence Preview. The magazine and website are go-to sources for serious buyers.  We are here to help you tweak your ad to maximize its effectiveness.

5. Complete Picket Fence Preview property disclosure forms. Put out yard sign once you're ready to start taking calls / emails.

6. Consider attorneys and decide who you want to hire.  Most are paid at closing, so it won't cost you anything until you've sold.  Call and ask them how they like to work with private sale (FSBO)  sellers, their typical fees, etc. Since a real estate sale is a legal transaction you will need an attorney whether you sell on your own through Picket Fence or sell using a real estate agent. Real estate agents can not provide legal advice or services.

7. Show your home to interested buyers.
Consider scheduling open houses to sell faster. You are the best person to show your own home.  Our How to Sell Your Own Home book will provide you the expert guidance to ensure that you understand the do¹s and dont¹s.

8. Consider offers. Contact your attorney when someone makes an offer. Have your attorney review the completed contract with you before you sign it.

9. Wait for the buyer's home inspection and the buyers' lender's real estate appraisal to go through.  Meanwhile, use this time to pack and prepare to move!

10. Attend Closing  -  The buyer's closing attorney will coordinate with your attorney so that all documents are in order for the big day. All you need to do is show up and pocket your equity check (supplemented by the monies you didn't needlessly squander on realtor commissions)!

Stanford University study shows the real cost of a real estate commission is close to 13% - not 6% - because agent-listed properties sell for much less! Click here to read