How To Sell A Home In Georgia
Georgia, also called the Peach state, is one of the fastest developing states in the U.S. Its real estate industry does not require so many documents in transactions such as the sale of a residential property. Normally, the state only makes use of three major documents – the purchase and sale agreement, the seller’s property disclosure form and the lead based paint disclosure for homes constructed before the year 1978.
Prepare your home
Various factors have to be taken into account in selling your home. Consider the status of the local market, your home’s condition and sales of homes in your neighborhood. Of course, how your home looks inside and out is a very crucial factor especially for prospective buyers. Remember that first impressions last.
What should you do then? First, make your home presentable starting from the front yard. Trim your trees and shrubs if you have some outside. You may also have to paint the exterior and interior of your house again. Organize your furniture and other stuff and provide more space as much as possible. Keep in mind that what you are accustomed to may not be appealing to the buyer. If you keep things in the attic or basement, ensure that they are properly arranged.
When your buyers visit during the day, pull back your curtains and clear your windows to show the natural light and promote a cheerful atmosphere. When buyers visit at night, turn on all the lights to provide a warm welcoming feel.
Informing people that your home is for sale need not be a fuss. There are many ways you can do this apart from putting up a “home for sale” signage on your front yard. You can give out flyers, place an advertisement on your local newspaper or directly market your home.
Setting the price
In selling your home, be realistic about your offering price. Set a reasonable price – not too high and not too low. It’s best to set a fair market value price than giving a high price. If your home is overpriced, chances are it will stay unsold for a long time and prospective buyers will think negatively about it. Once this happens, you may end up selling your home at a lower price.
Latest reports say in the Atlanta area, there are presently more properties up for sale compared to buyers who are ready to buy them.
In Georgia, property charges may include mortgages, liens on construction or mechanics, judgment liens, unpaid taxes, unpaid municipal utilities (water and sewerage), past due support and charges on property owned by a divorced couple usually paid at the time of sale.
The real estate contract
A real estate contract or the so-called purchase agreement usually states a complete legal description of the property, the offering price, mode of payment (including the down payment), financing arrangements, other fees and the party to pay for them, amount of deposit, rights to inspection and allowances for repair, mode of delivering the title and the person to take charge of closing the deal, the appliances that will remain in the home, the date of settlement and other contingencies.
Things that can be negotiated during the transaction are the offering price, financing deals, costs of closing, repairs needed in the home, appliances and other accessories, landscaping, house painting and allowable time for the seller to vacate the home.
Apart from the three important documents required during the sale of a property, there are cases when the seller must present a homeowner’s association disclosure. An amendment form should also be filled up if changes are made in the sale agreement. Other documents that are sometimes needed include the escrow agreement, counter offer and special stipulations.
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