Selling Your Home in Northern Virginia--Tom Vesolich selling a home

Now on the Market In Northern Virginia

Now that your home is on the market, you will now start getting calls from Realtors® seeking to show your home to prospective buyers and to look at the home on their own. Here are a few things to keep in mind:

Any Realtor® May Call
Once your property is listed and entered into the Multiple Listing Service, (MLS) you may be called directly by any MLS member Realtor® who would like to show the house. This cooperation among REALTORS® permits even greater exposure of your property to additional potential buyers.

Preparing For The Appointment
Now that a Realtor® and perhaps a prospective purchaser are on the way, take a walk through your home and be certain it looks its best. Tidy rooms, lots of light, and some soft music will provide the viewer with the best possible perspective of your home. When a Realtor® comes by with a prospective purchaser, it is best for you to let them look at the property on their own. The real estate Realtor® knows the buyer, and knows how to assist in the decision making process. Often, if a seller is too close at hand, purchasers will be reluctant to share their thoughts about the property with the Realtor®, and the sales process is disrupted.

The "No Show" Appointment
It shouldn’t happen but it sometimes does. Occasionally, a Realtor® who has set an appointment with you, will not show as scheduled. Courtesy dictates that you should get a call from that Realtor® informing you that they will not be coming. Be aware, however, that this may not always occur. The buyers may have been tired, found a house they liked or just be running behind schedule. In any event, try not to be upset.

Questions For Buyers
Refer all questions about price, terms, possession, etc. to your agent ... so you won't say the wrong thing. This will give you an opportunity to think the questions over clearly. Scratch that. You don't know one tenth about the process compared to your agent -- but you think you do or it is no big deal. Just forward the questions to the agent.

Contract Presentation & Negotiations
You and your Realtor® are working together as a team towards getting an offer on your property. When that offer comes in, it is important to understand what will happen. Any offers that are prepared will be presented to you. You will have three options if the offer differs from the price and terms you were asking:
I. You can counter offer by changing terms in the buyer’s offer to terms that are acceptable to you, and see if the buyer is interested in your terms. Remember, once the buyer's offer has been changed by you, the buyer is not obligated to buy the property, even at the terms the buyer originally offered.
2. You can reject the offer outright. This option occurs least of all because usually a seller will attempt to change terms with a counter offer to the buyer. Occasionally, under some circumstances, such as inadequate buyer financial qualification, an offer may be rejected outright.
3. You can accept the offer at the price and terms offered. During the presentation of the contract, you will typically be informed of the details of the deposit ; the buyer's financial qualifications; price, terms, and conditions of the sales contract including details on any contingencies; and special considerations Your agent will typically review each of these areas to assist you in making an informed decision. Do not hesitate to ask questions about anything you do not clearly understand.

Multiple Presentations
Occasionally, more than one prospective purchaser will make an offer on your home at the same time, resulting in a dual or multiple presentation. This can be a very good thing. When this happens, all contracts should be presented to you prior to your taking action on any of them. The offers are normally presented to you in the order in which they were registered. Once all have been presented, your Realtor® will assist you as necessary in selecting the one that best meets your needs, and you'll decide whether to accept or make a counter offer. You may also elect to counter offer the next best contract as a back-up. If accepted by the prospective back up purchaser, this contract remains on standby so that in the event the primary contract falls out any reason, the back-up contract becomes the primary.

Contingencies
Contracts can be contingent upon one or more things. Some of the more common contingencies are fnancing, appraisal, termite inspection, sale of the purchaser's property or a home inspection. Other contingencies may exist and must be evaluated carefully. Your Realtor® can assist you.

Price vs. Net
One final note. Be sure to consider all the elements of the offer and don't be overly preoccupied with just the offering price. Your primary concern should be directed toward achieving the highest possible net return. Sometimes that can occur with an offer at less than list price. Factors such as financing, points, date of settlement, market activity and contingencies must be viewed in total when determining the attractiveness of an offer.