If you are thinking of selling your home anytime soon or in the near future, you must learn how the traditional selling works. Understanding how the process works will help you to reduce the number of unexpected problems and save a lot of your time when dealing with them.

Make Repairs or Home Renovations

Before listing a property with a realtor, you are required to have your house “presentable”. The minimum work would be cleaning and tidying your home including storing your furniture away while showing in the market. A lot of times your home might not be in the perfect situation for sale or necessarily bring you the highest resale value. There is also a high chance that you need to do touch-ups such as getting new paint. Hiring a staging company to furnish and decorate your house is recommended to receive more attractive offers.

In some cases, repairs are necessary to have your home listed for sale. If your house has a relatively long history comparing to other houses in your neighborhood, defects are likely to be found during home inspections. Homeowners are often asked to make repairs to normal tear and wear after living in the house for a long time. Depending on the situation of the house, larger-scale repairs may be required such as a complete redo of the kitchen. This all comes with a huge cost, but sometimes it is worth if you have the capital and time to do so.

List Your Home with a Real Estate Agent

Once you decide to sell your home, you need to find a trustworthy realtor who is familiar with your neighborhood and has experience in marketing houses in the area. Needless to say, the more time the real estate agent has spent in the area, the more likely he/she can convince the buyer to make a more decent offer. Essentially speaking, the realtor’s effort determines the success of selling your home.

Meanwhile, some of the burdens are taken off your shoulders by the real estate agent, there is a price to pay, which is the commissions. In a traditional home sale, the real estate agents’ commissions differ in each case. Typically speaking, homeowners can expect to pay around 5-6% of the home sale price. The seller is responsible to pay the commission fees for both their own listing agent and the buyer agent. And according to the National Association of Realtors, 87% of buyers purchase a home with an agent.

Get Started with Market Appraisal and Mortgage Application

Once potential buyers are interested in buying your house, they’ll give you an offer through their own real estate agent. Then, your real estate agent will present you with all the offers. If you accept it, then the buyer will submit their mortgage application unless he/she has been pre-approved.

This process can take some time where the bank or the buyer will bring an inspector and an appraiser to check on your property. This is to find if there are any additional repairs required in order to have the home financeable by the bank and assess the value of the home. Once the process is done, you are ready to move on to close the deal.

Pay the Closing Costs & Close the Deal

Other than the commissions paid to the real estate agents, closing costs cover a variety of other expenses when you are at then end of closing a deal. They include but are not limited to title insurance, property taxes, escrow fees, lender costs, homeowners insurance. For instance, the average closing costs in Washington State is estimated at around $2,254. Additionally, if you are selling your home in Washington State, you are obligated to pay a real estate excise tax at the amount of 1.78% of the selling price

The actual amount you have to pay varies according to the size of your loan and legal requirements of each state. Some costs are non-negotiable such as transfer taxes while others like lender fees are negotiable.

Follow us on

You’re trying to look for the perfect house, but it will not be perfect until you found the perfect neighborhood. Bear in mind that purchasing a house can be the single biggest investment you will ever make in your lifetime. You do not want to make a mistake and live in fear.

We understand that choosing a new neighborhood is never easy. To help you make this important decision, here are some important factors for you to consider. The followings are 7 things to consider when choosing a new neighborhood:

1. Real Estate Value

The market condition is an extremely important aspect to be aware of. While real estate is constantly in a state of fluctuation, you should always research the current home prices, length of the home sales period, the resale value, and the long-term growth rate. National Association of Realtors is a good resource when checking on the median home price and the percentage change.

On top of that, is your neighborhood in the city where new investments are coming in and is currently in the process of being further developed? Look at your local chamber of commerce website to learn more. If so, it will increase your home estimates in the long run and attract future home buyers.

2. Transportation

Spend some time to experience the transportation system in your neighborhood. If you drive, certainly pay attention to your commuting time in different time period throughout the day. Take note of possible heavy traffic during rush hours and if any alternative routes are available. Explore public transportation options, especially if your work location lacks adequate parking. Find out your commute times.

If you are a frequent traveler, make sure you have good access to the airport. If you often travel internationally, living in close proximity to an international airport is suggested.

3. Employment Opportunities

The performance of the local job market brings direct impact on house prices in the neighborhood. A high-growth neighborhood attracts big corporations and employers to move in. These job centers tend to result in some of the hottest neighborhoods with high-value homes.

Not only does the job quality vary from state to state, but the income level also varies greatly as well. Even for the same job title, there can be a salary gap across states or even just cities, thus comparing the pay rates can help you gather a bigger picture. Do some research if you are looking for new job opportunities and easiness of relocation if you are looking to move again in the future.

4. Schools

Great schools imply great neighborhoods. Most of the parents will send their kids to public schools, therefore being in a highly rated school district is crucial. Many resources can be of help in the process of searching for an ideal school. In the meantime, consider your child’s whole school journey including predatory school to high school because moving multiple times can be a huge financial burden. Make sure to familiarize yourself with the boundaries as well in case there is a re-zoning in the future.

There should also be convenient commuting methods and consider if walking is safe for your child. To get a more comprehensive picture of a school district, it is recommended to go to check out the schools in person if it’s possible.

5. Accessibility

A lot of residential areas have a certain distance from the city center. Take some time to figure out what you would like to be close to. Are you a person who likes to visit cafes often? Or your family prefers fresh produce that you might want to live near a farmers market? Finding a neighborhood with walking distance to grocery stores and restaurants can be challenging. A walkability score can certainly help you gather a better picture.

6. Safety

Crimes are unavoidable in any neighborhood but that does not mean you can skip the process of researching the crime rates and other safety concerns. If you already have a neighborhood in mind, go to CrimeReports to learn more about recent crimes and further breakdown of each crime. Another valuable tool is the National Sex Offender Public Website, it indicates the safety of a potential neighborhood by showing how many sex offenders are nearby.

Keep in mind that the safety of a neighborhood can change time after time. Take the long-term stability into account when looking at a neighborhood. Factor in the future development which might impact the location. Talk to the local police department if you want more in-depth details about the community.

7. Climate

If you are considering moving from Las Vegas, Nevada to Seattle, Washington, the chances are that you will feel depressed throughout the gloomy rainy season. If you grow up in a city with a tropical climate, California is likely the place you will call home instead of Ohio.

The point is, moving into a place with a climate you don’t feel comfortable living with can adversely impact your mental health and job performance. Don’t underestimate the power of climate and choose your neighborhood wisely.

If you are considering moving and selling your home at Washington State, contact us today to learn more and get an estimate of your home cash value.

Follow us on