Home Selling Tips

Home Selling Tips

Sun Properties - Selling an Alaska Home

We want to save you money on commissions and in other ways! The following will help in the marketing and sale of your home.

The Money

On Most Sales; When the purchase agreement is signed, it does not mean all elements of the agreement are final. Often the money comes from the buyer's Mortgage Lender "not the buyer". Before releasing their money, the mortgage lender may require repairs that the buyer did not ask for.

At the Time of Listing

Existing Home Sellers; If you are selling an older home, Alaska Housing Finance Corporation has programs such as the "Home Energy Rebate Program" and the "Weatherization Program".  You may want to check into these programs before selling your home. Contact AHFC at http://www.ahfc.state.ak.us or call 1-877-325-2508, in Anchorage call 907-330-8300.

Home Inspection; As a seller you may wish to do a home inspection prior to marketing your home, especially if your home is in need of repair. The home inspection will give you an idea of what the buyers will be asking for in the way of fix-up items. Almost all home buyers will do a home inspection before buying. Remember, your buyer does not have to accept your home inspection, they can still do their own, and you may have to deal with a different set of fix-up issues.

Provide the following; Phone numbers, fax numbers email and home address. Provide the names and account numbers of all mortgage lenders and/or lien holders on the property. Disclose if there are late home payments, pending divorce, undisclosed property defects, pending foreclosure, quit claim issues etc. If needed, order a resale certificate.
 

While the Home is Marketed

Provide the following; If your phone is often busy at home, have a cell phone or alternate contact phone number. Provide an email address and check your emails regularly. Do not discuss "sale or property" issues with the Buyer, Buyer's representative or anyone, except your representative.  I have seen home sellers give away thousands of dollars in casual conversations.

After an Offer is Accepted 

Do it Now; Write the appraisal check and title checks at the time of offer acceptance. Later is not the time to do repair items, the sooner the better. Work needs to be done to code, save all receipts. Do not cancel your home owners insurance until after recording and maybe after your shipped goods arrive at your new address.

Communication 

Stay in touch; Some sellers go on vacation or take long weekend trips while their home is marketed or under contract. During a real estate transaction failing to stay in touch can cost you money or your deal.

Seller's Costs

At the  time of offer acceptance $800 - $850 (for single family homes, multi-family appraisals cost more), for the appraisal plus $250 to open title is due from the Seller. The Seller may be able to delay "until closing" part of the cost of well, septic, or other repair items, subject to agreement by the Seller and the contractors. If a resale certificate is required we recommend the Seller order it at the time of listing (the fee is usually $150 - $250) If you do not have the resale certificate ready to pass on to your buyer when a contract is signed, and your HOA takes 10-12 days to put one together for you, you have now given your Buyer a 15-17 day window to back out of the deal, instead of a 5 day window.

The Property

Living in and showcasing a home to sell at its highest value are two different issues. If you expect a quality sale price for your home, you will help the Buyer see your home at its best. The Home Warranty can reduce liability and comfort the Buyer, especially on "older" home sales.

The Repair Items

Often the home is sold "ONLY" with the approval of the Appraiser, the Underwriter, Anchorage Code and Zoning Departments, Public Utilities and others. These and others may have approval authority over the sale. They can determine what will be moved, removed, repaired, replaced and more. The Buyer and Seller are only the "FIRST" to agree on the terms and conditions of the sale.

Know your Rights

The "Alaska Real Estate Consumer Pamphlet" outlines your rights when working with a real estate licensee in the state of Alaska.To review the pamphlet, go to www.commerce.state.ak.us/occ/pub/rec4145.pd