Selling a home in New York

New York is famous for its history as an immigration gateway to the U.S. and as a transportation and manufacturing hub. It is the third most populous state located in the Mid-Atlantic region. New York City is, of course, renowned for its various landmarks and Broadway musicals.

Real estate prices in New York have grown considerably, according to experts. It will continue to grow although at a slower pace. Home prices are not expected to go down as well but sellers welcome negotiations. And as an effect of the increase in home values, homeowners in New York now have more options when faced with soaring expenditures.

Home presentation

Despite fears of a market bubble in New York, homeowners should still make it a point to stage their home for sale. How you package and present your home is crucial in the selling process. Home staging is one effective way of attracting more buyers and speeding up your home sale. Clean your home inside and out and organize all your stuff. Do some repair and repainting of walls and rooms if needed. Remove all clutter and create more space to promote a relaxing atmosphere.

Make your home smell good, too, by using light scents like cinnamon or pine. And when potential buyers are visiting after dark, put on all lights if possible. During the day, you can open all windows to provide more natural light inside.

You should also make your home available for visits anytime. The more prospective buyers you accommodate, the better. But be sure to pre-qualify them before they set an appointment for a visit to save your precious time. You may do your pre-qualification over the phone during their first inquiry about your home.

Real Estate Forms

A sale of a residential property is a legal transaction. And if you are selling your home on your own, consulting a real estate attorney is a good start. Your attorney can help you in the many aspect of the financial transaction and he may even serve as an escrow agent if the need arises. Feel free to ask your lawyer about questions that bother you such as on the real estate forms required, the phases involved, the payment mode, the closing and other legalities.

The real estate forms play an important part in the sale of your home. In selling by yourself, you may need a specific contract for sale (also known as purchase contract or agreement or sales agreement) which can be used for a cash sale, assumption or new loan. This contract should be in writing and signed by the buyer and the seller to be enforceable. Should there be changes, an agreement to extend or amend contract for the sale and purchase of real estate might be needed. In the event the seller is not amenable to the purchase price of the buyer, a counter offer is required to negotiate for a more desirable price.

Meanwhile, the seller is required by law to furnish the buyer with a residential disclosure statement. This form provides a legal description of the property including its age and condition, the repairs done and existing defects as attested by the seller. Apart from this, a lead-based disclosure form should also be given to the buyer. This disclosure is required by Federal law in the sale of homes built before 1978. The EPA lead-based paint information pamphlet must accompany the form.

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