Selling Your Indianapolis Area Home

Selling your home can touch every emotion.

Selling a home is one of the largest decisions of your life.

My sole duty as your realtor is to ensure that your home sells quickly, easily, and at a suitable price.

If you choose to have a realtor represent you, you should enter into a written contract that clearly establishes the obligation of both parties and specifies how your realtor will be compensated.

Setting a Price

When setting a price, the important thing is to be realistic.

If the price is too high, you may not find a buyer. Too low, and you cheat yourself out of money. Regardless of what you originally paid for your home and the cost of improvements you have made, the only price that matters is what the market will bear at the time you decide to sell.

Whether or not you get an appraisal, I will develop a comparative market analysis. This analysis will describe homes in your area that have recently withdrawn from the market and may compare specific features of your home to others--the value of a corner lot, a city view, or an extra bedroom, for example.

The analysis may also point out market fluctuations caused by the opening of a new school or business, as well as long-term trends.

Signing a Listing Agreement

After you choose me, you will sign a listing agreement--a contract in which you agree to allow a me to sell your home during a given period and pay me a fee when your home sells.

Like me, most realtors are independent contractors who work for a company operated by a licensed real estate broker. The amount of compensation you pay a broker is negotiable, but the realtor will generally follow the company's policy regarding compensation. The amount of the fee will be spelled out in the listing agreement.

Make sure you understand how the fee will be paid before signing.

Remember that the listing agreement is a contract.

You should get a copy for your records. As your realtor, I am bound to the terms just as you are. You can count on me to keep appropriate information confidential and effectively market your property.

Marketing Your Property

In preparing your home for viewing by prospective buyers, remember that people buy on emotions. Your home has to feel right, or buyers will look elsewhere.

Ask me and some honest friends to look at your home objectively and suggest ways to make your home more inviting and sellable.

Since you will be appealing to buyers' feelings, you need to pay attention to detail. An extra $50 you spend on red geraniums or new bath towels might mean a significant increase in a buyer's offer.

Clean your home thoroughly and make minor repairs such as tightening towel racks and gluing wallpaper edges.

For larger repairs, I have resources to ask whether repairing the item will generate a good return on the sale. Repainting the woodwork may be worth it, but replacing the carpet may not.

Hire a professional inspector to examine your house for structural and mechanical defects. Get an inspection early, and you can avoid surprises.

The Offer

When a buyer makes an offer on your home, I acting as your realtor, will contact you promptly. My resources will scrutinize the document, review it with you carefully, and answer your questions.

The written offer lays out all the terms of the proposed transaction--the price the buyer is willing to pay and the financing terms--and becomes a binding contract if you sign it. The offer may be contingent on the buyer selling a home first or obtaining an inspection.

Ask me how these terms affect you and whether the offer is in line with the market. The offer describes the property, states who pays for which closing costs, and specifies dates of closing and possession.

Along with making the offer, the buyer may place some earnest money with the escrow agent as a sign of good faith. The earnest money will be kept in an escrow account and applied to the buyer's down payment or closing costs when the sale closes.

Closing the Deal

The sale formally ends at the closing table. In most transactions, the closing lasts less than an hour and often occurs at the title company office. I, acting as your realtor and the buyer's agent may be present.

A title company officer or escrow agent will preside.

Be sure to bring your driver's license to the closing (DPS identification cards and passports are also acceptable).

The sale actually consists of two transactions: 1) transferring the property to the buyer, and 2) paying off the existing mortgage on your home (or allowing the buyer to assume your mortgage).

To transfer the property, the title company will present documents proving that you have the title.

Proceeds of the sale may be disbursed at closing or shortly thereafter, once all the paperwork and verifications have been processed.

When you give your house key to the new owners, the sale is complete.