Selling Your Home

Your home may be your single biggest investment and one of the largest financial transactions you will ever make. When you make the decision to sell, you want to get the best price and the most favorable terms. While this can be a very confusing time filled with many questions and few answers, JONES GROUP REALTORS^® can help.

Let us assist you with the many details there are to selling your home from preparing your home to list to the final closing day.  JONES GROUP REALTORS^® offer over 64 years of experience in the real estate industry and we pride ourselves in superior quality client service, making our clients our first priority. Let one of our local real estate experts guide you through every step of the process.

Choose a link from the list below, or follow them step-by-step to learn more:

• Preparing to Sell your Home
• Important Consumer Information
• So You're Ready to Sell your Home
• You're Ready to List
• Determining Property Value
• Getting Your Home Out There
• Selling Your Home
• Saying Goodbye to Your Home
• Surviving the Move
• Hiring a Moving Company

#1 Preparing to Sell your Home

You will want to evaluate your reasons for selling. You may want to ask,  "Why do I want to sell my home?" "Do I need more space?"  "Do I want less upkeep and desire a smaller space?"  "I have accepted a job in a different part of the country and need to relocate." All of these reasons affect the potential sale of your home and the negotiating process of that sale.

You may also want to begin making a list of all of the interior and exterior projects that you want to complete before placing your home on the market, as you will want your home to appeal to as many potential buyers as possible.

Contacting a JONES GROUP REALTORS^® agent will point you in the right direction. Our agents have the knowledge and understanding of the industry and can provide reliable information to help you move toward the goal of  the sale of your home.

#2 Important Consumer Information

Escrow Payments:  Earnest Money and Second Deposit

It is customary for a purchaser to put down a cash deposit in the form of a check when making an offer to purchase real estate. This deposit commonly referred to as "earnest money" is given to the listing broker. Upon acceptance of the offer, the check is deposited in a trust, or escrow account held by that broker until the closing. A certified bank check second deposit becomes due at the time the Buyer signs a Purchase and Sale Agreement. In an effort to streamline the process of depositing the escrow money in a timely fashion, Jones Group REALTORS® has the ability to transfer funds electronically if the deposits are to be held by Jones Group REALTORS® and are from conventional bank accounts.

When you provide a check as payment, you authorize Jones Group REALTORS® to use information from your check to make a one-time electronic fund transfer from your account. Funds may be withdrawn from your account as soon as the same day you make your payment by check and you will not receive your cancelled check back from your financial institution.

Wiring Money

NEVER wire money based on an email conversation.

If you receive an e-mail from anyone at Jones Group REALTORS® requesting that you wire or otherwise transfer funds, do not respond.  Please notify your agent immediately.  Instructions will only be given by a manager from Jones Group REALTORS®.  You will be required to call the manager and the manager will then call you back to give necessary information. Unfortunately, we must take these precautions to protect you from internet hackers.

TRID

On October 3, 2015, the Federal Consumer Financial Protection Bureau instituted new lending requirements.  In an effort to protect buyers from predatory lenders, full disclosure of closing costs must be disclosed at application and three days prior to closing.  If there are changes:

to the annual percentage rate of the buyer loan of more than one-eighth of one percent for a fixed rate loan or changes by more than one quarter of a percent for an adjustable rate loan from the rate that was previously disclosed to the buyer or,

the loan program is changed or,

a prepayment penalty becomes applicable to the mortgage loan,

it will become necessary for the closing to be delayed until at least three business days after the buyer receives a revised Closing Disclosure.

You will be asked to sign an Integrated Disclosure Addendum with the Purchase and Sales Agreement if financing is required for the sale of the property.  Click here for the TRID form from the Massachusetts Association of REALTORS®.

 

Flood Insurance Notice

Some properties are located in a flood plain.  A mortgage lender for a buyer/owner may require that the buyer purchase flood insurance.  Some buyers who purchase without mortgage financing may also wish to purchase flood insurance.

The National Flood Insurance Program (NFIP) provides for the availability of flood insurance, but also sets flood insurance policy premiums based on the risk of flooding in the area where a property is located. Due to amendments to federal law governing the NFIP and changes in flood maps, the premium may have increased over the premium previously charged for flood insurance for a particular property. As a result, a buyer should not rely on the premium paid previously for flood insurance.  Not all properties located in a flood plain require insurance. There are gradations of risk.

When considering a purchase, the Buyer should consult with one or more carriers of flood insurance for information about flood insurance availability and terms, the premium that is likely to be charged for such insurance and information about how those premiums may increase in the future. For maps of areas affected visit https://msc.fema.gov. Provided by the Massachusetts Association of REALTORS®

Required Federal Lead Warning Statement

Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 must be notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property built prior to 1978 is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards. Talk to your agent about lead paint and Lead Paint Notification.

Right to Farm

Many communities recognize the importance of preservation of farmland and have adopted "Right to Farm" bylaws.

It is the policy of many communities to conserve, protect, and encourage the maintenance and improvement of agricultural land for the production of food and other agricultural products and also for its natural and ecological value. This disclosure notification is to inform Buyers that the property they are about to acquire may lie within a town that permits farming activities. Such farming activities may include, but are not limited to, activities that cause noise, dust and odors. Purchasing and henceforth occupying land within any of the "Right to Farm" communities means that the Buyer should expect and accept farming conditions as a normal and necessary aspect of living in this community.

The list of towns is growing and it is not possible to accurately list them here. Please visit www.mass.gov for more information and a current list of towns. If the community you are considering isn't currently a "Right to Farm" town or city, it is very possible it will be in the future. 

#3 You're Ready to Sell your Home

Assessing your home is key in beginning the home selling process. You may want to ask yourself, "What would I like to see or not see if I were touring this home as a potential home buyer?"

Problems like chipped paint, dirty walls, windows and doors, unfinished remodeling projects and cluttered garages are all areas for home selling improvement. Neat, tidy and organized works!

#4 You're Ready to List

Before you list your home, it is important to do your homework on the real estate companies in your area. If you are selling in the Upper Pioneer Valley, you will want to contact a JONES GROUP REALTORS^®Â agent for advice.

1. Search the internet for your local real estate companies and agents.
2. Review local publications for agent advertisements.
3. Call each company to compare commission fees, marketing campaigns and yearly sales volume. You will find that JONES GROUP REALTORS^®  is number one in sales and offers strong marketing campaigns.
4. Talk to your friends and neighbors. Nine times out of ten, someone you know has sold their home and can provide a credible recommendation of a Jones Group REALTOR.

Feel free to ask them the following questions:

• What is your selling experience in my community?
• What professional certifications do you hold?
• What services will you provide for me as my agent?
• How will you represent my property?
• Will you provide a professional market analysis of my property?
• How will you determine the price of my home?
• What is the fee for your services?
• Can you provide all of the different scenarios with the sale of my property? 
• Can you explain the paperwork that I will need to sign?
• What is the timeframe for listing my property with you?

#5 Determining Property Value

There are a number of factors that go into determining the value of a home.

• It is realistic to compare the homes in your area and the asking prices of those homes.
• The law of supply and demand always comes into play. Do you live in an area with increasing job opportunities or an increasing supply of homes?
• Owners' needs greatly impact the selling price of a home. Do you need a quick sell or do you have time to sit on your sale?
• The selling price is not cut and dry. On many occasions, the seller will negotiate the price, split closing costs or offer different allowances to the buyer, to make the sale of the home complete.

A qualified JONES GROUP REALTORS^® agent can provide a fair market analysis of the homes for sale in your area. A Market Analysis is usually free and without obligation. For more information on how to receive a FREE Market Analysis that will help you properly determine the value of your home, contact JONES GROUP REALTORS^®  contact us here.

#6 Getting Your Home Out There

There are a number of different ways that an agent can drive traffic to view your home:

• Multiple Listing Service (MLS)
• Open Houses
• Exposure on numerous Websites/Internet
• Social Media
• Print Advertising
• JONES GROUP REALTORS® Marketing Strategies

#7 Selling Your Home

The Offer

An acceptable offer depends on many different things:

• Is the proposed offer near the asking price?
• The timeframe of the seller Does the seller have another house payment? Insurance?
• Does the owner have enough time to wait for the agent to bring them more potential buyers?
• What if the home is listed and never receives a single offer?
• What if several offers are received at the same time?

The Counter-Offer

When potential buyers are searching for a home, they can respond in three different ways to the seller(s):

1. This home is not what we were looking for. We are not interested in the property.
2. We are interested in the home and we will purchase the property on the buyer's terms per the real estate agreement.
3. We are interested in the home, but here is our counter-offer for the property.

Negotiating

The negotiating process can at times seem very complicated. However, if you are equipped with a JONES GROUP REALTORS® agent, all of this can be made hassle-free. 

During the negotiating process of the sale of a home, the seller can react in one of three different ways:

1. Accept the buyer's proposed offer
2. Decline the buyer's offer
3. Make a new counter-offer

#8 Saying Goodbye To Your Home

The closing process is always changing. It is even referred to as "settlement" or "escrow" in different parts of the county. With increased technology, most closings are completely automated and both parties do not have to be present at the same time to sign.

Closings usually take about 30 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals.)

The closing process is the transfer of the title of the property from the seller to the buyer. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes and any additional closing costs. All legal papers are filed with the local record office.

It is this step where the buyers and sellers do very little. It is important for the buyer to take a final walk through of the property to make sure the property's condition has not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.

#9 Enjoying the Move

Moving can be one of the most emotional times in your life. The thrill of something new new career, a new neighborhood, a new home. While this may sound great to some people, for others, these changes can be an emotional rollercoaster.

The key to surviving your move is to first analize the situation. You may want to ask yourself this question, "What does my move entail?" "Will I be moving across the country or just down the block?" "Could I handle the move myself, provided I have the right packing materials and friends to help" Or "Do I need to explore the option of hiring a professional moving company?"

There are many resources out there. You may want to consult your JONES GROUP REALTORS^® agent for guidance or refer to our Moving Checklist for more information.

#10 Hiring A Moving Company

If you plan on hiring a moving company, you might want to do some research first. Our Moving Guide offers great information for those researching the possibility of hiring a mover.