Tag Archives: title insurance

15 Things You Need to Know Before You Sell Your House

Actually, I came up with 22 things, but I’ll combine some for you. Selling a house can be a piece of cake or a bite out of a lemon, depending. On what? On these 15 things:

1. Is the title to your house clear? It most likely was when you bought it, but have there been any liens put on it since then? These have to be cleared up.

2. How much remains on your mortgage?  What remains gets subtracted from the proceeds.

3.  How much will your closing costs be? If your property is priced less than $200,000 you should figure 2.5% of the sale price, plus the amount you are paying the buyer’s Realtor. If the price is over $200,000, figure 2%.

4.  If you (or a previous owner) did repairs or upgrades to the property, did you (or they) get required permits? Did you get final inspections and a finaled permit?  If not, those will have to be taken care of before closing, and preferably before you put the house on the market.

5.  Where will you go after the sale?  It’s not a good idea to market the property before you have made definite arrangements for your future housing.

6.  Stuff! How much stuff will you take with you and what will you give away? How and when will you eliminate the rest?

7.  Do you plan to put the property on the local Realtor Association’s Multiple Listing Service? If so, how will you accomplish this and how much are you willing to pay for the service?

8. How about getting the listing featured on the other real estate listing sites? How much will you spend to market and advertise your property?

9.  What will be your process to determine your price? How will you know whether you set the correct price?

10.  State and federal laws require that you disclose any material facts that could affect the value of the property. How do you plan to do this?

11.  What is your plan to show the property? Will you be meeting total strangers and allowing them into your home? What if the buyer wants to see the property during the day? The evening? After dark?

12.  Do you know how to determine if a buyer actually has the funds or if the buyer can actually qualify for mortgage?

13. What if the buyer makes a verbal offer? What if the offer is a low ball offer?

14. Will you be comfortable knowing the buyer has professional representation (Realtor) while you are representing yourself?

15. Have you decided which title company or attorney will handle the closing?

If you have questions about any of these things, feel free to call or email me. 813-503-6145. marylou.galea@floridamoves.com

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