Are you thinking about selling your home in Agincourt North? Have you been thinking of selling it by yourself instead of hiring a real estate agent? There are several advantages of selling your home yourself, but there are disadvantages as well. To make it easier for you to make a decision find the most important pros and cons below.
The most important PRO for selling your home yourself in Agincourt North is MONEY. Selling your home without the help of an agent means more Money in your pocket! By selling it yourself you save the commissions and fees. – We are not talking about pennys, we are talking about THOUSANDS of dollars which you would have to pay an agent. Another advantage is that you are able to decide the times for open houses and showings. It is also completely up to you where and when you want to advertise. Unlike a real estate agent who is selling many houses, you can focus on YOUR house, because you are only selling your own house. It is obvious that you will have more interest in the sale than an agent.
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• You need to sell your house but you can't because you have let it run down over the years and it needs lots of Tender Loving Care.
• You can't fix it up because you don't have the cash.
• You are behind on the Mortgage Payments.
If this sounds like the house you have right now then read on. The solution to selling these difficult houses is surprisingly simple, and incredibly effective. The easiest way to explain a House Selling Strategy (or a House Buying Strategy for that matter) is through an example.
The Handyman Special
• The Situation - You are a seller with a house in a bad state of repair. It is currently worth $200 000. All the other houses in your area are worth $300 000.
• The neighbours are on your back to Renovate Your House because it is bringing down the value of their homes.
• You have had professional tradespeople in to give you quotes on the repairs. You cannot afford to pay the $30 000 for the repairs and you couldn't possibly find the time to DIY. You're too busy working to try and pay the mortgage payments for that!
Conclusion: How does this all end?
• The Bank sees a house worth $300 000 and a buyer who has a contract-for-sale for $240 000. They are delighted to lend 80% of the valuation to the buyer ($240 000). Happy Bank!
• The Seller gets $40 000 more than he/she ever believed possible and didn't have to spend a penny or lift a hammer to get it. Happy Seller!
• The Buyer gets a beautiful home decorated and renovated to THEIR Tastes and the only money spent is about $8000. NO DEPOSIT needed. The bank gave them ALL the money they needed to buy the house at the seller's price of $240 000. Wow - a beautiful $300 000 home for only $8000 cash. Happy Buyer!
So the "Handyman Special" Strategy for Selling a House has in this case resulted in Happy Seller, Happy Buyer, and Happy Banker. Now that is a WIN - WIN - WIN situation.
Residential Painting - Painting Helps Sell Homes in Today's Economy
Most people understand that a Buyers Agent is the agent that represents a buyer through a real estate transaction and the Sellers Agent represents the Seller during the transaction. Often, buyers do not understand exactly what "Limited Agency" (sometimes referred to as Dual Agency) is and how it will impact their sale or purchase. In Utah, the exact definition of Limited Agency taken directly off a Limited Agency Consent Agreement from Utah Association of REALTORS® reads:"A Limited Agent represents both seller and buyer in the same transaction and works to assist in negotiating a mutually acceptable transaction. A Limited Agent has fiduciary duties to both seller and buyer. However, those duties are "limited" because the agent cannot provide to both parties undivided loyalty, full confidentiality and full disclosure of all information known to the agent. For this reason, a Limited Agent must remain neutral in the representation of a seller and buyer, and may not disclose to either party information likely to weaken the bargaining position of the other; such as, the highest price the buyer will pay or the lowest price the seller will accept. A Limited Agent must, however, disclose to both parties material information known to the Limited Agent regarding a defect in the Property and/or the ability of each party to fulfill agreed upon obligations, and must disclose information given to the Limited Agent in confidence, by either party, if the failure to disclose would be a material misrepresentation regarding the Property."
Many clients often point out the fact that the Agent will be making double the commission. This should not be a consideration for either party involved in Limited Agency. You must remember this agent will make commission on their listing no matter WHO sells it, and if the Agent is already working with the buyer, then anything the buyer purchases the Agent will make commission on that as well. Essentially any deal could be a "double commission" when an agent works with both buyers and sellers independently. So it is unfair to make the Agents commission a factor or a negotiation tool, for either party.
Limited Agency... should YOU participate? I suppose it depends on how well you know your Agent. Will you get the best deal? Possibly. You may have to rely on some of your own instincts and research to determine what the best deal will be, as you will not have full disclosure and advice from your limited agency real estate professional.