Finding a buyer for your home is just the first step on the homeselling path. Tread carefully in the weeks ahead because if you make one of these common seller mistakes, your deal may not close.

Mistake #1: Ignore contingencies

If your contract requires you to do something before the sale, do it. If the buyers make the sale contingent on certain repairs, don’t do cheap patch-jobs and expect the buyers not to notice the fixes weren’t done properly.

Mistake #2: Don’t bother to fix things that break

The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn’t in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If the furnace fails, get a professional to fix it, and inform the buyers that the work was done. When you fail to maintain the home, the buyers may lose confidence in your integrity and the condition of the home and back out of the sale.

Mistake #3: Get lax about deadlines

Treat deadlines as sacrosanct. If you have three days to accept or reject the home inspection, make your decision within three days. If you’re selling, move out a few days early, so you can turn over the keys at closing.

Mistake #4: Refuse to negotiate any further

Once you’ve negotiated a price, it’s natural to calculate how much you’ll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.

Mistake #5: Hide liens from buyers

Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off). If you can do that with the sales proceeds, great. If not, the sale isn’t going to close.

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G.M. Filisko is an attorney and award-winning writer who wanted a successful closing on a Wisconsin property so bad that she probably made her agent rethink going into real estate. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers

If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades

Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

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More from HouseLogic

How to ready your home for sale at little cost (http://buyandsell.houselogic.com/articles/5-tips-prepare-your-home-sale/)

How to review offers on your home (http://buyandsell.houselogic.com/articles/6-tips-choosing-best-offer-your-home/)

Other web resources

More on setting the right price (http://public.findlaw.com/abaflg/flg-4-4a-1.html)

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G.M. Filisko is an attorney and award-winning writer who made strategic price reductions that led to the sale of a Wisconsin property. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Most rentals in Picayune, Carriere and other areas of Pearl River County, are at least $800/month or more (depending on condition, age, and location).  To purchase your own home would be a savings!  There are currently over 108 homes for sale in the $50,000-$120,000 price range in Pearl River and Hancock County.

Interest rates are still low, but they are starting to creep up.  Now is the time to find that home you need, at an affordable price, before the market heats up again!  Call Michelle Fradella at 601-569-0075 to find out what homes are available!

Happened to be home when Oprah was on this afternoon. The topic was Makeunders. Women who needed less not more. But this also applies to homes. Nate Berkus did a room Makeunder and it inspired me!

Every home that goes on sale needs a makeunder. The less of you, the quicker your home will sell. The bigger and more spacious your home looks the higher it’s perceived value.

This means it’s really important to edit your stuff so what’s really important greets you (and your buyers) when you walk in the door. You want your homes’ features to shine, you want buyers to say AH!

The trouble is we tend to keep adding stuff to our homes and don’t stop to edit.
I compare it to getting dressed. You’ve got a great look going but then you keep adding accessories to your outfit. A scarf or two. All of a sudden your great look gets lost. No one will be able to focus on that perfect necklace or pair of shoes because there’s too much to look at.

The best outfits are the ones with a simple color palette. A nice pair of jeans, a contrasting top and jacket and some great accent jewelry and shoes.

Your home is no different. It’s an extension of who you are but it shouldn’t be the catchall for everything you’ve ever wanted to bring home. Layering is wonderful but you have to know when to stop before your look gets lost.

Start with one room. Treat it like an extension of yourself. How would you dress it?

10 Easy Tips to “Make Under” Your Home

1. Keep in simple, Pick one or two main colors for your walls and floor. The fewer colors the more spacious your home will look.

2. Pick a third and fourth (if desired) accent color . Use these colors sparingly.

3. Keep your surfaces consistent.  Walls should be the same material if possible and painted or finsihed in the same color on all walls. Floors also. Keep flooring consistent throughout the house.

4. Group your family photos on one wall and use similar frames and mats to keep a unified look. Edit your photos first and keep only the ones you love.

5. Group your plants also. Your plants will thrive and it reduces watering time. Toss out any that are unhealthy or dying.

6. If a room has more than one use make sure there’s a dedicated space for each use. Screens or dividers can help separate living from office or exercise space.

7. Keep your window treatments clean and simple. Heavy window treatments that cut down on light can overpower a room. Invest in some light colored curtain panels instead hung on a simple pole. These look great over inexpensive 2″ blinds.

8. Remove area rugs on carpet.  Visually they cut up the floor space and make the room feel smaller.

9. Edit your collections. Keep only pieces you love on display. Again grouping them will create impact and reduce visual busy-ness.

10. Keep it to 5. When in doubt, keep no more than 5 toys or 5 plants or 5 pillows or 5 frames or 5 lamps for example in a room at one time. If you want to add a new piece, take out an old one.
Remember keep it simple. Whether you are getting ready to sell your home or just want to live lighter, a professional home staging consultation can help you with your “makeunder”.

Photos are not samples of Hampton Redesign staging but chosen to represent how a simplified color palette can makeunder a room.

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Hampton Redesign   817-891-9563   www.hamptonredesign.com

Homes For Sale in Pearl River County –

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When you’re ready to find a great deal in the Picayune and Pearl River County Mississippi area, call Michelle Fradella at Pinnacle Real Estate Services at 601-569-0075.

Home sellers have one goal—to sell their home as quickly as possible near or at the listing price. A home in move-in condition makes meeting this ideal easier.

Many of today’s prospective homebuyers have busy lifestyles and are looking for properties that don’t require a lot of work. Homeowners should be proactive by making needed repairs before putting their homes on the market.

Inspect both inside and outside the home. Take inventory of practical and aesthetic repairs. You may want to apply a fresh coat of paint on the walls, doors, and shutters. Clean the carpet and buff and polish wooden floors. Tighten and polish hardware. Repair cracks in sidewalks and driveways, and clean any stains on them. Replace missing or warped roofing. Clean or re-grout kitchen and bathrooms. Repair dripping faucets and drains or plumbing fixtures that aren’t operating.

Fix sticking doors and replace old locks and doorknobs. Replace burned-out bulbs and broken electrical sockets. Replace cracked windows and torn screens. Repair broken fencing and reseal the deck. Clean up stains on the tiles and countertops.

Some experts also recommend hiring a certified home inspector to thoroughly and impartially evaluate the property. (For a list of inspectors in your area, visit the American Society of Home Inspectors website, www.ashi.com, or ask your real estate professional for recommendations.) A standard report will review the condition of the home’s heating system, central air conditioning, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure.

If the pre-inspection results in a checklist, have a real estate professional look over the report with you to help you prioritize the list of repairs.

Depending on your goals and budget, you may want to repair only items that could cause significant deterioration to the home, such as a leak. In addition, your local market conditions may dictate how extensive your repairs need to be. Let your budget and your real estate professional guide you.

However, be careful about fixing up too much. Sellers rarely recoup money on major remodeling projects, and you may want to save funds for your new home. Also, obtaining home improvement loans can adversely affect your ability to qualify for your next mortgage.

A home in good condition demonstrates pride of ownership. Taking the time to make small repairs to your home can go a long way in making sure that your home is presented to potential buyers in its best possible light. They also just might make the sale.

When selling your home there are no guarantees that the ultimate buyer of your home will have simply walked through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer in the shortest period of time. When you list your property, you need to ask some specific questions about how it will be marketed.
In this extremely competitive market, if the Realtor© you are talking to does not run their Real Estate business as a FULL TIME business, then you need to be looking elsewhere. And if their idea of running a real estate business is putting a sign in your yard, entering it in the local MLS, and then running an ad in the local home buyer magazine . . . . well, then they are not seriously up to date in technology, and are not going to get your property exposed to the largest number of buyers possible.
Ask your Realtor© to list for you all of the ways he/she intends to market your home and on what time-line. Also, be sure to ask about the home being advertised on the Internet, and how MANY sites your property will be listed on. At Pinnacle Real Estate Services, we take the marketing of a property very seriously. Our “Strategic Marketing” puts your home in front of more buyers than any other company in Pearl River County, MS.

#2 Mistake: Not Pricing Your Property Right for the Current Market

Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one of several areas where the assistance of a skilled, Full-Time Realtor© can more than pay for itself. Listing the home too high can be as bad as too low. If the listing price is too high, you’ll miss out on a percentage of buyers looking in the price range where your home should be. This is the flaw in thinking that you’ll always have the opportunity to accept a lower offer. Chances are the offers won’t even come in, because the buyers who would be most interested in your home have been scared off by the price and aren’t even taking the time to look. By the time the price is corrected, you’ve already lost exposure to a large group of potential buyers.
Your over-priced listing will actually also be helping to sell other properties that are in direct competition with you. Since your price is higher, the lower-priced house will be a better buy for the consumer.
The listing price becomes even trickier to set when prices are quickly rising or falling. It’s critical to be aware of where and how fast the market is moving – both when setting the price and when negotiating an offer. Again, an experienced, well-trained Realtor© is always in touch with market trends – often even to a greater extent than appraisers, who typically focus on what a property is worth if sold as-is, right now.

#3 Mistake: Thinking you need to be in the home to explain things to a prospective buyer.

You will be better served if you allow your Realtor© to do their job without you there. Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present.
Also, if people unaccompanied by an agent request to see your property, you should refer them to your Realtor© for an appointment. Don’t expose yourself, your family, and your property to non-qualified buyers. If they are serious about viewing your home, they will call your Realtor©.

#4 Mistake: Forgetting what you would want to see if you were the buyer of your home.

Remember that although people can be different in personality, they tend to be the same when it comes to expectations at someone else’s expense. In other words, a prospective buyer would probably like to see a perfect home from top to bottom, inside and out. They can envision themselves living in your home, if it’s clean, and problems are already taken care of. Try to do as many of the following items as possible to improve the likelihood of your home selling quickly.
On the outside
• Sweep front walkway.
• Remove newspapers, bikes and toys.
• Park extra cars away from the property.
• Trim back the shrubs.
• Apply fresh, clean paint throughout.
• Clean windows and window coverings throughout.
• Keep plumbing and all appliances in working order.
• Maintain all sealant (window, tub, shower, sink, etc.) in good condition.
• Make sure roof and gutters are clean and in good condition.
• Mow the lawn frequently and plant flowers.
• Keep pet areas clean.

On the inside
• The kitchen and bathroom should shine.
• Quick once-over with the vacuum; carpets should be clean.
• Place fresh flowers in the main rooms.
• Put dishes away, unless setting a formal display for decoration.
• Make all beds and put all clothes away.
• Open drapes and turn on lights for a brighter feel.
• Straighten closets.
• Put toys away.
• Turn off television.
• Play soft music on the radio/stereo.
• Keep pets out of the way and pet areas clean and odor-free.
• Secure jewelry, cash, prescription medication and other valuables.
• Enhance the spaciousness of each room.

Considering that the average furnace repair is between $1,250 and $5,000, a home warranty may save you dollars on a repair that pops up after the closing. In addition, the money you save by not having to foot the bill for the policy–which on average can cost between $300-$400–makes a warranty a worthy perk.

You should be mindful, however, of exactly what the home warranty covers. Most sellers only purchase a one-year basic warranty, which will generally cover major built-in appliances and mechanical systems such as heating, electrical and plumbing, and usually it only covers normal wear and tear. For example, if the water heater was not in good working condition when the home was purchased, and it breaks a week or two later, there is no coverage.

If you want more extensive coverage, such as for pool equipment, air conditioning, or even the refrigerator, talk with your real estate professional about negotiating that extra cost with the seller, or consider purchasing your own warranty. Also, remember that although most home warranties provide coverage only for one year, most plans are renewable.

Whether or not you are given the option of selecting your own home warranty provider, here are questions to consider:

• How much is the deductible or per visit cost for repairs?
• Does the plan cover ‘pre-existing conditions’ which weren’t known to the seller?
• Who performs the repairs? Can you choose someone or does the company send a technician in their network?
• What’s the maximum dollar amount for repairs and what are the policy limitations? For example, will the policy pay for a new water heater at no additional cost?

Whether a warranty is offered by the seller or not, no buyer should forgo a home inspection. An inspection may uncover defects or potential problems that won’t be covered by the warranty – and may give you the opportunity to request the seller to make any major repairs before the closing.

But, warranties definitely have a place when it comes to protection and peace of mind. If you are looking in the Pearl River County, MS, area for a home, give Michelle Fradella a call for more information on home warranties and providers.