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Real Estate Sellers Blog  Sellers ... Stay Informed on the Local Market
Ask Questions..Get Answers
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FSBO or Agent, Which Is Best For Selling Your Home in the Jupiter Florida real estate market |
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With the growth of the Internet, the prospect of 'going' FSBO — For Sale By Owner — as a method for selling your Jupiter Palm Beach area home is more attractive than ever.
One of the largest expenses involved in selling a property is the payment of a real estate agent's commission — often in the 6% to 7% range. But agents do earn their money, by providing expertise on the market and sales process, by using a variety of marketing tools available to Realtors®, by advertising widely and by assisting in the negotiation and closing phases of a sale.
Still, 6% of $200,000 is $12,000 and many find the prospect of keeping that money for themselves irresistible. Studies conducted in 2008 by the National Association of Realtors show that people said the most important reason for selling home As FSBO is:
Did not want to pay commission fee: 44%
Sold it to a relative / friend / neighbor: 27%
Buyers contacted seller directly: 14%
Agent was unable to sell home: 6%
Did not want to deal with an agent: 5%
Seller has real estate license: 2%
Could not find agent to handle transaction: 1%
Other: 1%
Here are some things to consider when deciding whether to use a real estate agent or 'go' FSBO.
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Last Updated ( Wednesday, 06 May 2009 )
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two most important factors when selling a home |
What are the two most important factors when selling a home?Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home's worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer.
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Last Updated ( Friday, 20 March 2009 )
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property taxes - how they work |
How do property taxes work?Jupiter Florida Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.8 percent of the property's current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas. To check on the most current property tax information for a particular home in Palm Beach County you can visit the Palm Beach County Property Appriaser's web site.
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Last Updated ( Friday, 20 March 2009 )
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Are Jupiter Florida property taxes deductible?Property taxes on all real estate, including those levied by state and local governments and school districts, are fully deductible against current federal income taxes.
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Last Updated ( Friday, 20 March 2009 )
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Are seller-paid points deductible? |
Are seller-paid points deductible?
As of Jan. 1, 1991, homeowners have been able to deduct points paid by the seller. This deduction previously was reserved only for points actually paid by the buyer.
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Last Updated ( Tuesday, 29 July 2008 )
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What are some tips on negotiation?
The more you know about a seller's motivation, the stronger a negotiating position you are in. For example, seller who must move quickly due to a job transfer may be amenable to a lower price with a speedy escrow. Other so-called "motivated sellers" include people going through a divorce or who have already purchased another home.
Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for.
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Last Updated ( Tuesday, 29 July 2008 )
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What is seller financing?
Seller financing is when a seller helps to finance a real estate transaction by taking back a second note or even financing the entire purchase if the seller owns the home free and clear. Usually sellers do this when a buyer has difficulty qualifying for a conventional loan or meeting the purchase price.
Seller financing differs from a traditional loan because the seller does not give the buyer cash to complete the purchase, as does a lender.
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Last Updated ( Tuesday, 29 July 2008 )
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What is the difference between list and sales prices?
The list price is how much a Jupiter Florida house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions.
If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property's listing period.
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Last Updated ( Tuesday, 29 July 2008 )
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How does someone sell a slow mover? |
How does someone sell a slow mover?
Even in a down market, real estate experts say that price and condition are the two most important factors in selling a home.
If you are selling in a slow market, your first step would be to lower your price. Also, go through the Jupiter Florida house and see if there are cosmetic defects that you missed and can be repaired.
Secondly, you need to make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage, and listings on the local multiple listing service (MLS) and on the Internet.
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Last Updated ( Tuesday, 29 July 2008 )
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How is the price set?
It's very important to price your Jupiter Florida home according to current market conditions. Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood.
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Last Updated ( Tuesday, 29 July 2008 )
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Is a low offer a good idea?
While your low offer in a normal market might be rejected immediately, in a buyer's market a motivated seller will either accept or make a counteroffer.
Full-price offers or above are more likely to be accepted by the seller. But there are other considerations involved:
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Last Updated ( Tuesday, 29 July 2008 )
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how to get financing for foreclosures |
How do you get financing for a foreclosure?
One reason there are few bidders at foreclosure sales is that it is next to impossible to get financing for such a property. You generally need to show up with cash and lots of it, or a line of credit with your bank upon which you can draw cashier's checks.
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Last Updated ( Tuesday, 29 July 2008 )
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closing costs - who pays? |
Who pays the closing costs?
Closing costs are either paid by the home seller or home buyer. It often depends on local custom and what the buyer or seller negotiates.
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Last Updated ( Tuesday, 29 July 2008 )
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Why do I need a title report? |
Why do I need a title report?
As much as you as a buyer may want to believe that the Jupiter Florida home you have found is perfect, a clear title report ensures there are no liens placed against the prior owners or any documents that will restrict your use of the property.
A preliminary title report provides you with an opportunity to review any impediment that would prevent clear title from passing to you.
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Last Updated ( Tuesday, 29 July 2008 )
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What contingencies should be put in an offer? |
What contingencies should be put in an offer?
Most offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.
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Last Updated ( Tuesday, 29 July 2008 )
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What are the standard contingencies?
Most purchase offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.
As a buyer, you could forfeit your deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.
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Last Updated ( Tuesday, 29 July 2008 )
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whose obligation is it to disclose info about property? |
Whose obligation is it to disclose pertinent information about a Jupiter Florida property?
In most states, it is the seller, but obligations to disclose information about a property vary.
Under the strictest laws, you and your agent, if you have one, are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to you.
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Last Updated ( Tuesday, 29 July 2008 )
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