Selling Your Own Home - Some FAQ's

Selling your own home needs some special information about the realty business. These pieces of information are essential in getting a good price for your home, help in the negotiation process, and generally protect you from being taken advantage of.

The following are some real questions from files and answered by a pool of experts.

Q: What is a home warranty? Do I need one?
A: Home warranties give the new owner added protection against house items breaking after closing the sale. Covered for about one year against malfunctions are such items as plumbing, roof, appliances, heating, etc. Costs vary and are dependent on coverage. It makes for an attractive come-on for the buyer if the seller has one. It's good for both the buyer and the seller.

Q: What is a Buyer's Agent? Do they affect me as a seller?
A: A Buyers Agent is a representative of the buyer much like the Realtor who represents the seller in negotiations. The Buyers Agent will provide information to his client (or clients) and suggest price offers to make to the seller.

Q: What is a market analysis? Is it different from an appraisal?
A: A market analysis is an approximation or an estimate of your home's value compared with the other sold houses in your area. They can be made by your realtor and is free of charge.

An appraisal, on the other hand, is a much more detailed analysis on the current value of your home made by a licensed appraiser which you have to pay.

Q: Why do some houses sell faster and some takes months?
A: These houses are priced right. Price is usually the deciding factor, although there are other considerations as well. Some are influenced by nearby developments. House staging helps, too. If the exterior looks good (their first impression) and things look neat and clean, the chances of a fast sale is good.

Q: What is home staging? Do I really have to do it to sell my house?
A: Staging is a service that you can avail of for a fee (or do it yourself) to spruce up your home and make it look its best to sell. It includes thorough cleaning, rearranging the furniture, eliminate perceived clutter inside your home and some paint jobs, perhaps.

You don't need to have your home staged to sell it. You do need to minimize clutter and clean it so it will look and smell clean. The most important thing, of course, is to make sure the price is right for today's market.

No amount of fixing, cleaning, or staging can help in selling your own home if it is not priced correctly.