THE HOME SELLING GUIDE
HOME SELLING GUIDECLOSING PROCESS, TIPS, TAXES AND MORE
Selling a property can be quite a daunting task, and if you are not well prepared, this can lead to you not getting the selling price that you deserve. This applies for every seller, from the residential homeowner, to absentee owners and investors. So, we are here to help! The Larsen Group Powered by eXp Realty specializes in selling homes for top dollar in Jacksonville, Saint Augustine, the beaches and other areas in Northeast Florida, and we have come up with a list of steps that will make the sale of your home a smooth and worthwhile transaction. Are you ready?
HIRING A REAL ESTATE ADVISOR
As we mentioned before, the process of selling your property can be quite complicated at times. When it comes to dealing with this process, it is best to be guided by the hand of an experienced and knowledgeable professional advisor. At The Larsen Group Powered by eXp Realty our listing team is comprised of real estate advisors that have gone through extensive training in order to provide you with the best information and plans to help you make informed decisions. Now you may ask, “Why would I want a professional advisor?”
Our real estate advisors are community experts:
They track local real estate trends
They possess information on potential buyers and other homes for sale in your area
They know local inspectors, lawyers, and other professionals that they will refer to you, to further assist you in the steps needed to sell your home.
Being local residents themselves, they share local concerns and have a vested interest in the community.
Choosing a local advisor to assist in the sale of your home is the best help you can get. If your property is near the Jacksonville area, hire The Larsen Group Powered by eXp Realty local Real Estate advisors and you are assured to have a professional, educated, and qualified expert who's best interest is to sell your home quickly and for top dollar. Then you can reap the benefits and achieve the goal of selling your home with ease.
Joe Larsen, our resident dedicated selling advisor, is one of the top real estate professionals in the area and with his team, he will provide you with top of the line service so you can have peace of mind and know your property is being marketed the right away. He personally handles most of the listing business in the company and has the experience and expertise you are looking for. When you are ready, contact us at 631-383-7048, or [email protected] to get a free home selling analysis.
MARKET YOUR PROPERTY TO THE BEST BUYERS
There is no one way to market a home for sale. Every property is unique and the housing market is always changing. On top of that, there are many marketing strategies to choose from to get potential buyers to take notice. This is where your Larsen Group Advisor comes to the rescue. Your local Realtor® will craft marketing plans specifically for your situation and the market conditions of the area. They base their plans for your property on previous transactions and ongoing research.
Most people are familiar with an agent showing a home privately to potential buyers or hosting an open house, but that is not all your local Larsen Group Advisor will do for you. They make phone calls to potential buyers, communicate through their network of professional contacts, conduct follow-ups with visitors from showings and open houses, get web postings and advertisements out to the public, and do other work that other agents may not do but it's still critical to the successful sale of your property. This work is even more critical for absentee owners and investors, since they don’t have the option of handling any of the local and in-person business that is necessary to sell their home. All of your Advisors' hard work will soon pay off when you start receiving offers.
At The Larsen Group we work very hard and provide outstanding service to our customers. Our marketing efforts include total domination of the internet search engines for searches regarding homes for sale near Jacksonville and surrounding areas, we also create individual property websites, narrated virtual tours, print materials and much more. To learn about all of our seller services and receive a complete home selling analysis, please contact us at 631-383-7048, or [email protected]
RECEIVE AND NEGOTIATE OFFERS
So you listed your property for sale and finally received an offer? Great! That means someone is interested in your property and perhaps an agreement can be made. When an offer is made, you have 3 options: refuse the offer, accept the offer, or make adjustments to the price and terms of the offer and submit it back to the buyer (also called a counter-offer). There are times when the offer is rejected altogether. There are times when counter-offers can go back and forth between buyer and seller until both parties reach an agreement. There are also times when the offer is acceptable to the seller and an agreement is reached with ease.
With the assistance of your Larsen Group Advisor, you will need to carefully review offers, negotiate prices and terms, consider options in the market, and decide whether an offer is acceptable. Once you and the buyer have agreed upon an offer, your Advisor will begin working closely with legal counsel, tax specialists, and inspectors to help you take the necessary steps to closing on your property as quickly and easily as possible.
Get a top-notch negotiator on your side and make sure you get the best price and terms during contract negotiations. Don’t leave money on the table, and make sure there aren’t any crazy requests or contingencies by the buyer that may allow them to get out of the contract later on. For more information, complete the form below or call us at 631-383-7048 or [email protected] We are ready to help you with your real estate needs!
CLOSE THE TRANSACTION FOR YOUR HOME
Closing, also referred to as “settlement” or “close of escrow,” is a meeting between the buyer and seller to officially transfer ownership of the property. For absentee owners and investors, the closing documents can be signed and executed remotely, and then mailed back to the settlement agent. The closing is handled by a settlement agent who can be an attorney, title company, or escrow company. Your Larsen Group Advisor will help you find one by either making recommendations of settlement agents they have worked with before, or assisting you in your search for one. Once you have selected a settlement agent, that agent will handle the closing from there.
The settlement agent will then assemble and review all legal documents (deed, closing papers, etc.), and the buyer and seller will meet at the closing to sign all the papers needed to transfer ownership of the home. Your Advisor is a valuable asset during these times, as they can help save you time and money by being present during the closing to explain the forms and process to you. Your real estate Advisor can also help by negotiating any last minute issues that may, and often do, come up.
Closings can be very stressing, so make sure you have a great real estate Advisor on your side helping you every step of the day. At The Larsen Group we handle every little detail of a transaction from contract to closing, and you can be assured that nothing will be left behind. Contact us today for a free home selling analysis by calling 631-383-7048, or emailing [email protected]
PAY TAXES ON THE SALE OF YOUR PROPERTY
Once the closing paperwork is completed, if you receive earnings for your home, the U.S. Government considers this payment to you as a “capital gain,” a form of income, and this payment will therefore be subject to a capital gains tax. Generally, U.S. residents can exclude up to $250,000 in capital gains when selling their primary residence.
For foreign owners and investors, the U.S. Government will still collect taxes on capital gains through the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). This law authorizes the IRS to apply withholding income tax on foreign persons and corporations that have sold property in the United States. There is a common exception to FIRPTA withholding: a foreign person or corporation purchasing a home is not required to withhold tax when the buyer purchases the home for their residence and the purchase price is $300,000 or less. Whether you are a residential homeowner or an absentee owner or investor, your Larsen Group Advisor can help save you a lot of grief by referring you to a Certified Public Accountant (CPA) or other tax professional to assist you with this final step in the sale of your property.
We hope that if you are looking to sell a property in the area you found this information useful. If at any time you have a question or need additional information about the selling process, our marketing strategies, home selling analysis, or anything at all, you may contact us by calling at 631-383-7048 or emailing at [email protected]
SET YOUR PROPERTY UP FOR SUCCESS
Now, before your home is placed on the market, it needs to be in “show” condition. This may not be that difficult for those who are vacation homeowners or absentee owners and investors, since those types of properties are generally clean and up to date. For those selling a primary residence, your Larsen Group Advisor can explain what repairs and upgrades are required for your home that are most likely to produce the best results and price. Your Advisor can also give you referrals for contractors and businesses to help with any repairs or upgrades. Once your property is ready to be shown, you can move on to the next step.
SET THE PRICE RIGHT THE FIRST TIME
This is often one of the trickiest parts of selling a property. You want to get the best possible price and terms, but there are many factors that will set guidelines for how much you can get for your property.
These factors include:
Sale prices of other properties in your area
Rising and falling of supply and/or demand
If the seller needs to sell the property quickly
Your Advisor can assist you with gathering information to help you get the listing price right the first time, and will construct the sale terms designed to move the selling process along smoothly and to yield the best possible results for you.
Once you and your Advisor have set the price for your property, you will have to sign a Listing Agreement. A Listing Agreement is a contract that includes:
The price that the property will be listed as for sale
The start and end date under which the property will be “For Sale”
The terms and conditions under which the property will be sold
The agreed upon compensation of your real estate Advisor
Authorizations that you will grant your Advisor to act on your behalf and to use their talents and connections to find a buyer for your property
Once the listing agreement is completed, the property is ready to be marketed for sale.
As we mentioned above, some of the most crucial factors of determining the value of your property are, market conditions, supply and demand, median local prices and general statistics on your local community. At The Larsen Group we release monthly market reports via email with real-time data on your local market. If you’d like to a get copy of our reports for your local market, please contact us and we'll be happy to send a report to you.
Author: Joe Larsen
March 27th 2018
About Joe: ...