How To Sell Your House in New York City At A Premium?
Selling your house in New York City can be a daunting process. Where does one start? How to get the right price? What do you need to do to ensure that your house doesn’t sit in the market like a rotten apple for months?
Well, don’t sweat it. From the home selling services New York City has to offer to the final walkthrough, we will cover it all in this blog. So let’s get straight to it right from the top.
Finding The Right New York Realtor
Selling a house is a high-stakes, complex transaction and needs extensive time and expertise for a good outcome. If you are looking to sell your property for the best price— without stressing — you need to find the right real estate agent. The expert in your neighborhood knows how to make the transaction right and wouldn’t rip you off.
The listing agent offering the best home selling services in New York City will know exactly what local buyers want and how to connect with them. They will provide expert advice and guidance: supporting you on every step of the way, from the initial listing to closing. In other words, yes, the relator in NYC does take 6% of the sale price but isn’t it worth the investment?
There is also a secret to this; if you have a good connection with the realtor, you can even negotiate the commission.
Pricing Your House
Getting an idea of what your house is worth is important to a speedy and financially favorable sale. You might have millions of memories in that home, like it could be the place where you came as a married couple or where your kids were born. The buyers will find no financial value to these sentiments and should not be considered when putting a price on your home.
Evaluate your house’s value by comparing it to the neighborhood’s market value is the best way to price your home with certainty. A comparative analysis of the market provides home sales in the last year and the fluctuation of your area’s value. The real estate agent that claims to provide the best home selling services, New York City, should provide market analysis to their clients. Sometimes without even spending a penny in it.
Hire A Real Estate Attorney
New York is a state that demands by law an attorney to be present when closing a deal. What usually happens is that the buyer and the seller both have their attorney representing the transaction.
It is important to work with an attorney who specifies in real estate transactions. Any general practice lawyer will not be familiar with the regulations and laws of real estate deals and the unexpected situations that may come up.
A good indication that the lawyer you are hiring is that a general practice attorney is trying to charge you by the hour. Real estate attorneys take a flat fee of $2,000 to 3,000 on average after closing. The right attorney gives you the best home selling services; new York city has to offer.
Preparing, Marketing, And Showing Your House
Many sellers get overwhelmed by the cots of repairs, upgrades, and inspections they have to go through when they plan to sell their house. However, you don’t need to be afraid and throw tons of money to prepare for marketing. A fresh coat of paint goes a long way!
And don’t forget about the curb appeal. An unkempt yard, worn-out door, sagging stoop can scare the buyers off as the scarecrow scares away the birds. Update the outside as much as you can to make it visually appealing and inviting, getting them to knock is the first step in selling your property.
When putting your house on the listing, stress on your area’s amenities that’s within your walking distance. Mention the public schools, hospitals, parks, cafes: all of them can attract the buyers to visit your place. You can find a professional marketer that gives the best home selling services in New York City to create the description and take pictures for you.
Fielding Offers And Negotiations
New York differs from other states in that nothing is binding about accepting the offer. When you take the offer, an attorney will draw up a contract that you and the buyer will review and sign, thus making the deal legally binding.
New York’s law requires the buyer to put forth a 10% down payment towards the purchase. If the buyer agrees to the contract, offers the bonding money, and then refuses the closing contract for a reason not previously put into the contract, you could be entitled to keep the down payment.
Appraisal And Inspections
After the seller has accepted the offer, the buyer will arrange for a house inspection. If there is anything that the inspection uncovers, the attorney will put set issues when drafting the contract. If the buyer has applied for a mortgage loan, the bank will also send out an appraiser to see if the house value is equivalent to the loan.
Paperwork and Disclosures
New York has certain disclosure laws that both the buyer and seller need to keep in mind. The property condition disclosure act requires the sellers to either complete a disclosure form or pay a $500 credit to the buyer. The disclosure statement is a list of 48 questions inquiring about the house’s mechanical, structural and environmental status. The listing broker must provide the seller with a disclosure statement and share the completed form with the buyer.
In addition to disclosures, a lot of other legal paperwork goes into the transaction. An expert in providing the best home selling services in New York City, will walk you through all the paperwork. They will also make sure that you have everything you need for your transaction.
New York has various closing costs, including lender fees, transfer taxes, realtor commissions, attorney’s fees, and more.
Both parties, their attorneys, and their real estate agents are usually present at the closing date to get all the documents signed. Once they are signed, the documents need to be filed with the respective clerk for the process.
And there you have it, the right process of selling the house without going through a hassle.
Whether you plan to sell your home immediately or 6-12 months from now, start looking for a realtor. These agents will provide you with the best advice and will help you make a plan, giving you the best home selling services New York City has to offer.
- March 10, 2021