Selling Your Home Archives - Carol and Mick Real Estate https://carolandmickrealestate.com/topics/selling/ North Atlanta Real Estate Experts Tue, 20 Jun 2023 19:22:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/carolandmickrealestate.com/wp-content/uploads/2022/09/cropped-kw-favicon.png?fit=32%2C32&ssl=1 Selling Your Home Archives - Carol and Mick Real Estate https://carolandmickrealestate.com/topics/selling/ 32 32 208676753 A Comprehensive Guide to Property Inspections, Appraisals, and Closings https://carolandmickrealestate.com/buying/inspection-appraisal-and-closing-process/ Tue, 20 Jun 2023 19:18:10 +0000 https://carolandmickrealestate.com/?p=4768 The real estate market can be complex for both buyers and sellers, with various stages, requirements, and terms that may seem daunting. In this guide, we aim to demystify key elements of the transaction process: property inspections, appraisals, and the closing process. Inspection, Appraisal, and Closing Process Buyers usually engage a licensed property inspector to […]

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A Comprehensive Guide to Property Inspections, Appraisals, and Closings

The real estate market can be complex for both buyers and sellers, with various stages, requirements, and terms that may seem daunting. In this guide, we aim to demystify key elements of the transaction process: property inspections, appraisals, and the closing process.

Inspection, Appraisal, and Closing Process

Buyers usually engage a licensed property inspector to review the condition of the property within the contractually agreed timeframe. In some cases, multiple specialized inspectors (roof, HVAC, structure, etc.) may be involved. If the buyer’s agreement is contingent on financing, a licensed appraiser will evaluate the property value on behalf of the lending institution, ensuring their investment aligns with the property’s worth.

For commercial properties, buyers may request a comprehensive environmental audit or soil test as mandated by their lender.

Role of the Closing Agent

A closing agent, either a title company or an attorney, is appointed to verify and ensure clear real estate title. By examining the entire recorded history of your property, they guarantee that:

  1. Your property title is free from encumbrances (e.g., mortgages, leases, restrictions, liens) by the closing date, and
  2. All new encumbrances are appropriately included in the title.

Contingency Clauses

Contingencies are conditions that must be met for a contract to become legally binding. For instance, buyers often include a contingency clause that makes the contract dependent on a satisfactory home inspection report from a professional inspector.

Before finalizing the purchase of your property, the buyer scrutinizes every facet of the property, as outlined in purchase agreements and related addendums. This can include:

  • Securing financing and insurance
  • Reviewing all relevant documents, such as preliminary title reports and disclosure documents
  • Conducting detailed inspections.

The buyer can assess the condition of your property with numerous inspections, including roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead-based paint, HVAC, and more.

The outcomes of these inspections lead to two potential scenarios:

  1. Successful closure of each milestone and removal of contingencies, which moves you closer to the final closing; or
  2. A request from the buyer for contract renegotiation (usually price) based on the inspection results and document review.

When faced with a demand for renegotiation, it’s crucial to respond objectively, while safeguarding your interests. This is where a professional listing agent’s experience and commitment can make a significant difference in the transaction outcome.

Loan Approval and Property Appraisal

We recommend accepting buyers with a lender’s pre-approval, approval letter, or written loan commitment, which offer a stronger guarantee of loan approval than a pre-qualification or lack of documentation from a lending institution.

You should anticipate an appraisal of your property by the lender’s appointed appraiser, who will confirm whether the agreed sales price aligns with the property’s market value.

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All About Home Inspections https://carolandmickrealestate.com/buying/all-about-home-inspections/ Tue, 20 Jun 2023 17:16:59 +0000 https://carolandmickrealestate.com/?p=4748 As part of the Purchase and Sale Agreement, it’s customary for buyers to arrange and bear the cost of a professional home inspection prior to closing. Be prepared: inspections will invariably reveal some areas of concern, and buyers are likely to request you address these issues before moving forward with the sale. As seasoned real […]

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All About Home Inspections

As part of the Purchase and Sale Agreement, it’s customary for buyers to arrange and bear the cost of a professional home inspection prior to closing. Be prepared: inspections will invariably reveal some areas of concern, and buyers are likely to request you address these issues before moving forward with the sale.

As seasoned real estate professionals with extensive knowledge of home construction, we will highlight potential problem areas before they’re flagged in a buyer’s inspection. In many cases, conducting a pre-listing inspection on your own can offer significant benefits. This proactive approach gives you the opportunity to undertake necessary repairs early on, eliminating potential hurdles that could delay or even derail a sale. Prevention is key, and the easiest issues to address are those that never become contentious points.

Inspections demand specific technical expertise, necessitating a professional Home Inspector. While it’s helpful for homeowners to be aware of common issues, a Home Inspector provides a comprehensive overview of the home’s structure and potential problems, including aspects like:

  • Pilot lights on various appliances
  • Electrical system including the fuse/breaker box
  • Main water shut-off controls
  • Structural elements such as foundation, floors, walls, and roof
  • Windows and doors
  • Plumbing, heating, ventilation, and air conditioning systems
  • Septic tank, well, or sewer line
  • Common areas in condominiums and cooperatives

There are several additional factors homeowners should be mindful of, including:

  • Lead-Based Paint: Homes built prior to 1978 often used lead-based paint. While not typically hazardous when in good condition, deteriorating paint poses health risks and necessitates immediate attention. Federal law mandates sellers disclose any known lead-based paint hazards before selling the house, providing buyers a window to check for such issues.
  • Septic/Well System Inspections: If a buyer requests such an inspection, the local County Environmental Health department will be contacted, potentially delaying the process by 2-3 weeks depending on weather conditions. The inspection’s results will inform further actions.
  • Radon: The metro Atlanta area is a high Radon zone, and many buyers request a specific test for this colorless, odorless, and potentially harmful gas, typically requiring the seller to mitigate any high Radon levels.
  • Low Flow Fixtures: Pre-1995 dwellings in unincorporated Dekalb County need certification verifying all plumbing fixtures are water-conserving “low flow” design. Buyers often seek a price adjustment, or even contract termination, if necessary upgrades aren’t agreed upon by the seller.

Please note, as a seller and us, your real estate agents, are obligated to disclose any hidden structural flaws or environmental hazards that could influence a buyer’s decision. This requirement is also applicable to For Sale By Owner transactions.

If a professional inspection was conducted when you purchased the property and you decided not to repair any identified deficiencies, we need to know. Some unresolved issues might be more significant than you realize, and it could be wise to address them prior to a buyer’s inspection. As always, our aim is to resolve potential problems before they arise.

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Can You Afford to Sell Your Home Now? https://carolandmickrealestate.com/selling/can-you-afford-to-sell-your-home-now/ Tue, 20 Jun 2023 17:01:38 +0000 https://carolandmickrealestate.com/?p=4716 Here are some questions to ask when assessing your financial situation: What is my current equity in the home, and how much money will I need for my next home purchase? Am I comfortable with my current monthly mortgage payments, or do I need to lower my payments? How will selling my home affect my […]

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Can You Afford to Sell Your Home Now?

Here are some questions to ask when assessing your financial situation:

  1. What is my current equity in the home, and how much money will I need for my next home purchase?

  2. Am I comfortable with my current monthly mortgage payments, or do I need to lower my payments?

  3. How will selling my home affect my credit score, and how long will it take me to recover financially?

  4. Do I have any other significant expenses coming up, such as college tuition, medical bills, or retirement?

  5. What are my future financial goals, and how does selling my home fit into those goals?

  6. How will selling my home impact my taxes, and am I prepared to handle any tax implications?

  7. How quickly do I need to sell my home, and am I prepared to make any necessary repairs or updates to ensure a fast sale? 

  8. What are the costs associated with selling my home, such as real estate commissions, closing costs, and moving expenses?

By asking these questions, you can gain a better understanding of your current financial situation and future possibilities. This can help you make informed decisions about when to sell your home and how to price it effectively. With our help, you can optimize your finances, keep up with market trends, and sell your property quickly and for the best possible price.

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How to Keep up with The Real Estate Market https://carolandmickrealestate.com/buying/how-to-keep-up-with-the-real-estate-market/ Tue, 20 Jun 2023 16:56:44 +0000 https://carolandmickrealestate.com/?p=4708 Here are some ways to keep up with the real estate market: Look at real estate websites and follow us on social media for up-to-date information on local market trends, recent sales in your area, and the state of the local economy. This information can help you determine the best time to sell your home […]

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How to Keep up with The Real Estate Market

Here are some ways to keep up with the real estate market:

  1. Look at real estate websites and follow us on social media for up-to-date information on local market trends, recent sales in your area, and the state of the local economy. This information can help you determine the best time to sell your home and how to price it effectively.

  2. Monitor local housing data, such as median home prices, days on market, market trends, and inventory levels. For example, if inventory levels are low, it may be a good time to sell because there is less competition.

  3. Talk to a local real estate agent who can provide valuable insights into the local market, such as current trends, buyer preferences, and the state of the economy. This information can help you determine the best time to sell your home and how to price it effectively. If you have selected a selling agent, work with them to determine the optimal time to list your property and adjust pricing accordingly. 

We can provide our knowledge, expertise, and negotiating skills to ensure that you receive the best market prices and terms. We will keep you informed about the marketplace, including the prices, financing, terms, and conditions of competing properties. 

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Determining When to Sell Your House https://carolandmickrealestate.com/selling/determining-when-to-sell-your-house/ Tue, 20 Jun 2023 16:51:34 +0000 https://carolandmickrealestate.com/?p=4702 Here are some questions to ask when determining the right time to sell: What is my ideal timeline for selling and buying a new property? How quickly do I need to sell my home, and am I prepared to make any necessary repairs or updates to ensure a fast sale? What are the current market […]

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Determining When to Sell Your House

Here are some questions to ask when determining the right time to sell:

  1. What is my ideal timeline for selling and buying a new property?
  2. How quickly do I need to sell my home, and am I prepared to make any necessary repairs or updates to ensure a fast sale?
  3. What are the current market conditions? For example, if inventory levels are low, it may be a good time to sell because there is less competition.
  4. What are the potential risks and benefits of selling at this time?

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Discovering Your Real Estate Motivation: Key Questions to Ask Before Selling Your Home https://carolandmickrealestate.com/selling/discovering-your-real-estate-motivation-key-questions-to-ask-before-selling-your-home/ Tue, 20 Jun 2023 16:34:16 +0000 https://carolandmickrealestate.com/?p=4694 As you contemplate selling your home, it’s crucial to delve into your motivations and understand your readiness. Here are some questions you might ask yourself. What is my main reason for selling? On a scale from 1-10, with 1 being the lowest, how motivated am I to sell my home? On a scale from 1-10, […]

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Discovering Your Real Estate Motivation: Key Questions to Ask Before Selling Your Home

As you contemplate selling your home, it’s crucial to delve into your motivations and understand your readiness. Here are some questions you might ask yourself.

  1. What is my main reason for selling?

  2. On a scale from 1-10, with 1 being the lowest, how motivated am I to sell my home?

  3. On a scale from 1-10, with 1 being the lowest, how prepared am I to sell my home (or, how ready is my home to be on display)?

  4. Am I planning to buy another home?

  5. How important is location to me?

  6. Am I moving out of the Atlanta area?

  7. What type of property would best meet my needs?

  8. Which is most important:
    (a) Timing
    (b) Price

  9. What is my ideal timeline for selling my home?

  10. When would I like to close on my home?

  11. What will I do if my home closes within a month?

  12. What will I do if my home closes within 6 months?

  13. What will I do if my home doesn’t close within 6 months?

  14. What is my budget for buying a new property?

  15. What are the current market conditions?

  16. How will selling my property impact my finances and taxes?

  17. What are the potential risks and benefits of selling at this time?

Learn More

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Common Pricing Misconceptions https://carolandmickrealestate.com/selling/how-much-will-a-buyer-pay-for-my-home/ Wed, 17 May 2023 00:56:15 +0000 https://carolandmickrealestate.com/?p=4070 The selling price of your home ultimately comes down to what a buyer is willing to pay. No one can predict precisely what a buyer will pay for your home, even the most experienced appraiser.  These common misconceptions are not what will determine how much your home will sell for. What your neighbor’s home sold […]

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Common Pricing Misconceptions

The selling price of your home ultimately comes down to what a buyer is willing to pay. No one can predict precisely what a buyer will pay for your home, even the most experienced appraiser. 

These common misconceptions are not what will determine how much your home will sell for.

By pricing your home intelligently and understanding the dynamics of the market, you are well-positioned to achieve your desired outcome.  

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Let’s Play, “The Price is Right!” https://carolandmickrealestate.com/selling/lets-play-the-price-is-right/ Wed, 17 May 2023 00:49:05 +0000 https://carolandmickrealestate.com/?p=4061 Importance of Pricing + Timing: Timing is crucial in the real estate market. Your home receives the most attention from potential buyers and the real estate community when it’s newly listed. This is when it has the greatest opportunity to sell. Timing is extremely important in the real estate market. When your property is first […]

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Let’s Play, “The Price is Right!”

  1. Importance of Pricing + Timing: Timing is crucial in the real estate market. Your home receives the most attention from potential buyers and the real estate community when it’s newly listed. This is when it has the greatest opportunity to sell. Timing is extremely important in the real estate market. When your property is first listed, it attracts the most activity from potential buyers and the real estate community. This initial period presents the greatest opportunity for a successful sale.

  2. Importance of Intelligent Pricing: Pricing your property at market value exposes it to a larger percentage of prospective buyers, increasing your chances of a sale. By pricing your home competitively from the start, you increase your chances of attracting a larger pool of prospective buyers. More buyers purchase properties at market value than above market value. Pricing your property intelligently improves your chances of attracting buyers and achieving a successful sale.

Intelligent pricing plays a crucial role in the selling process. The triangle graph illustrates that a significant number of buyers purchase properties at market value rather than above market value. When you price your property at market value, you expose it to a greater percentage of potential buyers, thereby increasing your opportunity for a successful sale.

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Do I Need Court Approval to Sell My Deceased Loved One’s House? https://carolandmickrealestate.com/probate/court-approval/ Sat, 11 Feb 2023 16:00:15 +0000 https://realestateexecutorexperts.com/?p=222 If the estate is going through probate, the personal representative of the estate must obtain court approval before selling the property. If the estate is not going through probate, it may still be necessary to obtain court approval to sell the property, particularly if there are disputes over ownership or if the property was owned […]

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Do I Need Court Approval to Sell My Deceased Loved One’s House?

If the estate is going through probate, the personal representative of the estate must obtain court approval before selling the property.


If the estate is not going through probate, it may still be necessary to obtain court approval to sell the property, particularly if there are disputes over ownership or if the property was owned jointly.

In any case, it is recommended that you consult with a probate attorney in Georgia to determine the specific requirements for selling a deceased person’s property in your situation. They can advise you on the necessary steps to take and help ensure that the sale is handled legally and properly.

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What is a Real Estate Valuation? https://carolandmickrealestate.com/selling/what-is-a-real-estate-valuation/ Fri, 23 Sep 2022 21:06:19 +0000 https://carolandmickrealestate.com/?p=93 Real estate valuation involves determining the market value of a property. Market value represents the estimated price a property would fetch under typical market conditions.  Real Estate Valuation Methods Comparative Market Analysis (CMA)One commonly used valuation method is the Comparative Market Analysis (CMA). This approach assesses a property’s value by comparing it to similar properties […]

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What is a Real Estate Valuation?

Real estate valuation involves determining the market value of a property. Market value represents the estimated price a property would fetch under typical market conditions. 

Real Estate Valuation Methods

  • Comparative Market Analysis (CMA)
    One commonly used valuation method is the Comparative Market Analysis (CMA). This approach assesses a property’s value by comparing it to similar properties in the same area that have recently been sold. By analyzing recent sales data, property features, and market conditions, appraisers can estimate a property’s value.
  • Income Capitalization Approach
    The Income Capitalization Approach is commonly used for income-generating properties such as rental properties or commercial buildings. It involves estimating the property’s value based on its potential income stream. Appraisers analyze the property’s rental income, operating expenses, and market capitalization rates to determine its value.
  • Cost Approach
    The Cost Approach estimates a property’s value by considering the cost of replacing or reproducing it. This method is useful when valuing unique properties or properties with limited market data. Appraisers factor in the cost of land, construction, and depreciation to determine the property’s value.

Factors Influencing Real Estate Valuation

  • Location and Neighborhood Analysis
    Location plays a significant role in determining a property’s value. Factors such as proximity to amenities, schools, transportation, and the desirability of the neighborhood impact a property’s worth.
  • Property Characteristics and Condition
    The physical attributes of a property, such as size, layout, number of rooms, and overall condition, influence its value. Properties with desirable features and well-maintained conditions typically command higher valuations.
  • Market Conditions and Trends
    The state of the real estate market and broader economic factors can affect property valuations. Supply and demand dynamics, interest rates, and economic indicators impact the perceived value of real estate.

Get the True Market Value of Your Home

Receive a free comparative market analysis and home valuation.

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