Before You Sell
Selling your home CAN BE a positive, low stress experience! SkinnyAent.com can help you during this transition. We have the flexibility to customize a listing plan specific to your selling needs and the financial goals you want to accomplish with the sale. The following articles provide helpful information; however, as your selling agent, we will give you specifics each step along the way and guide you through the timelines and contract requirements. 

How We Can Help You in the Sale of Your Home

There are many ways we can help you sell your home. Your customized listing plan can include:

1. In depth analysis of what you want to accomplish in the sale of your home.
2. A commission schedule that is flexible based on your needs.
3. Suggested ideas to help your home sell quicker.
4. A Market Analysis on the recent homes sold in your area through the Columbia Multiple Listing Service (CMLS).
5. Exposing your home to the Columbia Multiple Listing Service (CMLS), a Columbia area database of homes for sale.
6. Featuring you property on websites such as SkinnyAgent.com, AssetRealtyInc.com, and ColaMLS.com.
7. Emailing your property specifics to our email database.
8. Advertising your property in various publications.
9. Conducting Open Houses.
10. Negotiating on your behalf.
11. Explaining and coordinating the contract, the required paperwork and closing process.
12. Helping you schedule any needed repairs.
13. Saving you time! We can meet the contractors, appraisers, home inspectors, termite company and heating & air providers.
14. Saving you money! Often times we can help you obtain a higher sales amount for your home.

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5 Reasons You Need a REALTOR

1. A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.

2. Selling or buying a home is time consuming. Finding a home that meets your needs can be a time consuming process. Then it usually takes another 45-60 days or so for the transaction to close after an offer is accepted.

3. Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language.

4. REALTORS have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical.

5. REALTORS provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, home selling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you.

6. REALTORS are members of the NATIONAL ASSOCIATION OF REALTORS, a trade organization of more than 1 million members nationwide. REALTORS subscribe to a stringent code of ethics that helps guarantee the highest level of service and integrity.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag     

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10 Ways to Make Your House More Sellable

These tips are provided by the National Association of Realtors®. We can not stress enough the importance of removing clutter. Also, our buyers usually comment on the smell of a home. You can determine how your home smells! Baking or cookie smells will often relate to thoughts of family, fun and entertaining. While the smell of lemon is associated with cleanliness!

• Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.
• Wash your windows and screens to let more light into the interior.
• Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.
• Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.
• Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.
• Make minor repairs that can create a bad impression. Small problems, such as sticky doors, torn screens, cracked caulking, or a dripping faucet, may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.
• Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.
• Patch holes in your driveway and reapply sealant, if applicable.
• Clean your gutters.
• Polish your front doorknob and door numbers.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag             

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Tips for Holding a Yard Sale

Hold a yard sale to reduce the clutter in your home and get rid of items you don’t want to move.

• Check with your city government to see if you need a permit or license.
• See if neighbors want to participate and have a “block” sale to attract more visitors.
• Advertise. Put an ad in free classified papers, and put up signs and balloons at major intersections and in stores near your home.
• Price items ahead and attach prices with removable stickers. Remember, yard sales are supposed to be bargains, so don’t try to sell anything of significant value this way.
• Check items before the sale to be sure you haven’t including something you want by mistake.
• Keep pets away from the sale.
• Display everything neatly and individually so customers don’t have to dig through boxes.
• Have an electrical outlet so buyers can test appliances.
• Have plenty of bags and newspaper for wrapping fragile items.
• Get enough change, and keep a close eye on your cash.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag              

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20 Low-Cost Ways to Spruce Up Your Home

Make your home more appealing for potential buyers with these quick and easy tips.

• Trim bushes so they don’t block windows and cut down on light.
• Buy a new doormat.
• Put a pot of bright flowers (or a small evergreen in winter) on your porch.
• Put new doorknobs on your doors.
• Put a fresh coating on your driveway.
• Edge the grass around walks and trees.
• Keep your garden tools out of site.
• Be sure kids put away their toys.
• Buy a new mailbox.
• Upgrade the outside lighting.
• Use warm, incandescent light bulbs for a homey feel.
• Polish or replace your house numbers.
• Clean your gutters.
• Put out potpourri or burn scented candles.
• Buy new pillows for the sofa.
• Buy a flowering plant and put it in a window you pass by frequently.
• Make a centerpiece for your table with fruit or artificial flowers.
• Replace heavy curtains with sheer ones that let in more light.
• Buy new towels.
• Put a seasonal wreath on your door.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag          

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5 Things to Do Before You Sell

• Get estimates from a reliable repairperson on items that need to be replaced soon, such as a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs.
• Have a termite inspection to prove to buyers that the property is not infested.
• Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract.
• Gather together warranties and guarantees on the furnace, appliances, and other items that will remain with the house.
• Fill out a disclosure form provided by your sales associate. Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag           

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Pre-Termite Letter / Wood Infestation Report

There are many things to consider when selling your home. One of the most important things is that in the State of South Carolina, mortgage companies generally require a wood infestation report, commonly referred to as a CL-100. The CL-100 is valid for only 45 days after the date of inspection, which is why it is beneficial for a pre-inspection (or pre-CL-100) to be performed as soon as you decide to sell your house.

At Ledford’s Termite & Pest Control we offer a free pre-inspection of your house at the time of listing to determine if repairs are warranted. Don’t underestimate the benefits of having a pre-inspection performed by a licensed professional as you are putting your house on the market. Upon completion of a pre-inspection, if any damage is found, there is sufficient time to make necessary repairs. Waiting until the last minute could pose potential delays, or even threaten the sale of your home. Even if you should choose to forgo any repairs, by having the pre-inspection performed, it allows a seller to disclose any problems during negotiation, thereby creating a mutual trust between the two parties. Bottom line, getting a pre-inspection saves time and helps to validate the listing price of your home.

This information was provided by:

Ledford’s Termite & Pest Control
5217 Two Notch Rd., Columbia, SC 29204
P.O. Box 24343, Columbia, SC 29224-4343
(803)754-3434
Fax: (803) 754-7157
www.ledfordspestcontrol.com

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Home Inspections BEFORE You Sell

Sellers have the option of getting their home inspected BEFORE they put their property on the market. This will give you time to make repairs or disclose the needed repairs on the South Carolina Property Disclosure report. Making the repairs ahead of the sale could eliminate re-negotiations once the buyer is aware of the defect and obtain you a higher sales price. Disclosing the needed repairs could allow you to market your property “As-Is”. Either way, the buyer is less likely to become “spooked” after the home inspection and the surprising need for repairs won’t seem as ominous.

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5 Ways to Speed Up Your Sale

• Price it right. Set a price at the lower end of your property’s realistic price range.
• Get your house market-ready for at least two weeks before you begin showing it.
• Be flexible about showings. It’s often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you’ll find a seller.
• Be ready for the offers. Decide in advance what price and terms you’ll find acceptable.
• Don’t refuse to drop the price. If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag             

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7 Steps to Preparing for an Open House

• Hire a cleaning service. A spotlessly clean home is essential; dirt will turn off a prospect faster than anything. Mow your lawn, and be sure toys and yard equipment are put away.
• Serve cookies, coffee, and soft drinks. It creates a welcoming touch. But be sure the kitchen has been cleaned up; use disposable cups so the sink doesn’t fill up.
• Lock up your valuables, jewelry, and money. Although the real estate salesperson will be on site during the open house, it’s impossible to watch everyone all the time.
• Turn on all the lights. Even in the daytime, incandescent lights add sparkle.
• Send your pets to a neighbor or take them outside. If that’s not possible, crate them or confine them to one room (a basement or bath), and let the salesperson know where to find them.
• Leave. It’s awkward for prospective buyers to look in your closets and express their opinions of your home with you there.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag            

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10 Ways to Make Your Home Irresistible at an Open House

• Put fresh or silk flowers in principal rooms for a touch of color.
• Add a new shower curtain, fresh towels, and new guest soaps to every bath.
• Set out potpourri or fresh baked goods for a homey smell.
• Set the table with pretty dishes and candles.
• Buy a fresh doormat with a clever saying.
• Take one or two major pieces of furniture out of every room to create a sense of spaciousness.
• Put away kitchen appliances and personal bathroom items to give the illusion of more counter space.
• Lay a fire in the fireplace. Or put a basket of flowers there if it’s not in use.
• Depersonalize the rooms by putting away family photos, mementos, and distinctive artwork.
• Turn on the sprinklers for 30 minutes to make the lawn sparkle.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag       

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What Is Appraised Value?

In addition to this article from Kim Daugherty, keep in mind that a lot of buyers look at cosmetic cost involved in buying a home. If the wallpaper and décor is outdated, they may mentally subtract that from the price they are willing to pay for a home. So, even if a seller has an appraisal performed before selling the home, other factors could affect the final contract price.

• It’s an objective opinion of value, but it’s not an exact science so appraisals may differ.

• For buying and selling purposes, appraisals are usually based on market value—what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.

• Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

• Appraised value doesn’t consider special considerations, like the need to sell rapidly.

• Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems (http://www.realestatechecklists.com).

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag     

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Understanding Capital Gains in Real Estate

Please consult your attorney and accountant for specific information regarding the gains from the sale of your home.

When you sell a stock, you owe taxes on your gain—the difference between what you paid for the stock and what you sold it for. The same is true with selling a home (or a second home), but there are some special considerations.

How to Calculate Gain
In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate this:

• Take the purchase price of the home: This is the sale price, not the amount of money you actually contributed at closing.
  
• Add adjustments:
  
  Cost of the purchase—including transfer fees, attorney fees, inspections, but not points you paid on your mortgage.
  Cost of sale—including inspections, attorney’s fee, real estate commission, and money you spent to fix up your home just prior to sale.
  Cost of improvements—including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.
  
  The total of this is the adjusted cost basis of your home.
  
• Subtract this adjusted cost basis from the amount you sell your home for. This is your capital gain.

A Special Real Estate Exemption for Capital Gains
Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

• You have lived in the home as your principal residence for two out of the last five years.
• You have not sold or exchanged another home during the two years preceding the sale.

Also note that as of 2003, you also may qualify for this exemption if you meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag          

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Does Moving Up Make Sense?

Answer these questions to help you decide whether moving up makes sense.

• How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of paying a mortgage, but if you’ve owned your home for a number of years, you may have significant unrealized gains.
• Has your income increased enough to cover the extra mortgage costs and the costs of moving?
• Does your neighborhood still meet your needs? For example, if you’ve had children, the quality of the schools may be more of a concern now than when you first purchased.
• Can you add on or remodel? If you have a large yard, there might be room to expand your home. If not, your options may be limited. Also, do you want to undertake the headaches of remodeling?
• How is the home market? If it’s good, you may get top dollar for your home.
• How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag              

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Remodeling That Pays

Upgrading your home is always appealing, but which enhancements really get you a good return for your money when it’s time to sell? The 2003 Cost vs. Value Report by Remodeling magazine and REALTOR Magazine has the answer.

To see the complete article, visit http://www.realtor.org/rmomag.NSF/pages/costvaluedec03.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag               

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12 Tips for Hiring a Remodeling Contractor

• Get at least three written estimates.
• Get references and call to check on the work. If possible, go by and visit earlier jobs.
• Check with the local Chamber of Commerce or Better Business Bureau for complaints.
• Be sure that the contract states exactly what is to be done and how change orders will be handled.
• Make as small a downpayment as possible so you won’t lose a lot if the contractor fails to complete the job.
• Be sure that the contractor has the necessary permits, licenses, and insurance.
• Be sure that the contract states when the work will be completed and what recourse you have if it isn’t. Also remember that in many instances you can cancel a contract within three business days of signing it.
• Ask if the contractor’s workers will do the entire job or whether subcontractors will do parts.
• Get the contractor to indemnify you if work does not meet local building codes or regulations.
• Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.
• Guarantee that materials used meet your specifications.
• Don’t make the final payment until you’re satisfied with the work.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS^®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag            

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Once You Decide to Sell

Here are a few things to consider:

1. Contact us at SkinnyAgent.com!
2. Consider getting a pre-sale home inspection.
3. Consider getting a pre-termite (CL-100) inspection.
4. Make needed repairs.
5. Clean your home and remove clutter.
6. Decide if any items are not included in the sale. Example: sentimental rose bush or heirloom light fixture.
7. Speak to your insurance agent/professional regarding adequate liability insurance to cover personal injury and repair work/inspectors on your property.
8. Store your valuables in a safe place.
9. Determine if you will have a pre-payment penalty for paying off you mortgage early.
10. If you haven’t already, contact us at SkinnyAgent.com!
11. Thoroughly complete the South Carolina Property Disclosure, Lead Based Paint Disclosure and other selling forms. Of course, we are with our seller clients every step along the way to closing!

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