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Plan of Action

Heidi Vetter January 10, 2021

 
  1. Analyze why you are selling - If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.
  2. Prepare your home for the buyer - Maximize the strengths of your property and fix up its weaknesses. You want the buyer to walk away from your home with a lasting good impression.
  3. Find a good real estate agent that understands your needs - Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.
  4. Be prepared for negotiation - Learn and understand your buyer’s situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.
  5. Negotiate for the best price and the best terms - Learn how to counteroffer to get maximum value from every offer.
  6. Make sure the contract is accurate and complete - Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home’s defects. Insist the buyers get a professional inspection. This will protect both you and the buyer.

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Upcoming Real Estate Forms Changes Part 2: Listing & Purchase Agreements The way real estate transaction are done in California is changing, and new mandatory forms will be introduced in the summer of 2024. This article will discuss the Residential Listing Agreement and Residential Purchase Agreement. For sellers, the Residential Listing Agreement has been completely revised. The form is a bit longer now, primarily because it is organized in a grid format. This grid lays out all the terms in detail, making it clearer. The main changes the Residential Listing Agreement are: • More detailed info on what the seller will pay and to whom. • There is now an Optional Concessions Section where sellers can confirm if they are willing to pay Optional Concessions. Optional Concessions can cover costs like escrow and title fees, lender fees, repairs, and broker compensation. • This information will be shared on the Multiple Listing Service (MLS). • Sellers need to make sure buyers and agents have a signed Buyer Representation and Broker Compensation Agreement before showing the property (refer to this article for information on these forms). • New guidelines on how to handle buyers who do not have their own agent. The Residential Purchase Agreement also has some updates for buyers, though there are not as many. The main changes are: • Homeowner insurance is now a separate item to consider. • If the property has three or more units, the seller has to give the buyer an additional document about wooden balconies and stairs. • It clarifies who will pay the brokers compensation. Remember, it is always important to understand any legal document before signing it. If you have questions, you can contact the Destination Real Estate team. Watch for information about upcoming free webinars to explain these changes in detail.

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