Sellers Tools
Your home is actually an investment that you live in. How much profit is possible to squeeze out of your investment is
determined by many factors.
Is the market biased towards sellers, buyers or is it an even market? Are there pre-payment penalties on your existing loans, will it
require major repairs, will you have to offer incentives to attract a buyer, do you need to get out quick, or can you wait to get "your
price"? How much, if any capital gains will you have to pay once you've sold? How much will you have to pay in closing costs and
brokers fees? With such a volatile market has your home become so upside down that you'll need to do a short sale
So where do you start in setting the price? An appraiser will take several approaches to determining price once a purchase price
has been set, but basically an appraiser is going to look at the history of similar properties, with similar improvements in the home.
Contrary to popular belief, there is no "magic notebook" that lists what a fireplace is worth, or even a pool. Each home is unique and
requires a specific appraisal.
A comparative market analysis or CMA is similar to an appraisal in that it takes into consideration what a home should be priced at
based on the sales history of similar properties, but it is not as detailed as an appraisal. The comparative market analysis is what a
Realtor uses to give a range of suggested pricing options. I like to give an estimate of what I think a home will appraise for, along with
pricing options that should allow a house to sell faster, or that might "push the market" to see what it will bare. It is possible to get more
than appraised value, but the buyer must be willing to either pay all cash (no loan) for the home, or put down a substantial down
payment that will make up the difference between what the home appraised for and the amount a lending institution is willing to lend on
the home.
For a FREE COMPARATIVE MARKET ANALYSIS, PLEASE CLICK HERE
HOW MUCH IS IT GOING TO COST TO SELL MY HOUSE
There are several fees you will pay in selling your home regardless of whether you use a real estate professional or not.
ESCROW FEES- In Nevada, we use Title, or Escrow companies to facilitate the exchange of money or marketable consideration for
real property. These companies have series of fees they charge for their services, such as escrow fee
title insurance fee, recording fee, and some miscellaneous fees to cover overhead.
LOAN RE CONVEYANCE FEE- A fee, generally around $150 charged by the holder of your existing home loan to pay off the loan
early.
NEVADA TRANSFER TAX- $5.1 per thousand dollars of the total sales price of the home.
HOME OWNER ASSOCIATION FEES- If you don't live in a home with an active home owners association, there will be no HOA fees. If
you do, there will be a document fee, and an association transfer fee. The document fee is generally paid by the seller and the
transfer by the buyer, but this is one of those "negotiable areas". A seller of real property governed by an HOA in the state of Nevada
is required by law to provide a purchaser of that home with the most current set of HOA documents available. The transfer part is
actually handled by the title company. Other HOA fees that may come into play are assessments, LID or SID, and possibly multiple
HOA's. You might live in a subdivision such as Strawberry Fields in Green Valley that has a pool association, a master planned
association and a Home Owners Association. Each will have its own set of documents and transfer fees.
BROKERS FEES- If you use a Realtor or a real estate professional to assist with your sale, they will charge a broker fee. These fees
are by law, negotiable. As with any negotiation, neither party has to accept what the other wants, but if you are told this is a "standard
fee" they aren't being completely truthful. A brokerage may set a price or percentage they want their agents to shoot for, but again
there is no "standard" fee. Generally the broker fee is a percentage of the sales price, but there are companies that work for a flat
listing fee. The brokers fee is typically divided between a listing agent and buyers agent (or selling agent). So if there is a 6%
commission, typically 3% will be set aside for the listing agent and 3% will be set aside for the buyers agent. Because this is a
negotiable item, these splits and percentages can vary widely. In addition to the percentage of the sales price, there are sometimes
fees for document ware-housing or miscellaneous brokers fees.
NEGOTIABLE FEES- Items that you may wind up paying for from your proceeds, that can be used as part of the negotiation, or can be
required based on the type of loan the purchaser is using are an appraisal fee, home warranty, home inspection, pest inspection, roof
inspection and various certifications.
FOR A FREE ESTIMATE OF WHAT YOUR FEES MIGHT BE CLICK HERE
THE PROCESS- Okay, lets assume you've gotten your home ready to sell and you're using a Realtor, well um I mean me of course, so
the house sells in 10 minutes for $100,000 more than we listed it for and there's nice vacation package to Hawaii for a month and
brand new Porsche 911 Turbo thrown in, cause thats just how I roll! All right, the lawyers tell me now I have to say the proceeding
statement was meant to be a joke and we guarantee no quick sales, lots of money over list price trips or cars. (are you happy now
Mike?)
Back to reality, or realty as we were discussing before my little trip down fantasy lane...
We've listed your home, and a buyer likes and makes an offer. The buyers agent, or the buyer if there is no buyers agent, delivers
their written offer to your agent, who either presents it to you, or is present as the buyers agent presents it to you. We discuss the
terms of the contract and either accept it as is, reject it outright or counter it with terms that would be acceptable.
The terms of a contract vary greatly by the contract, we currently do not have one universal purchase agreement in Nevada, so its
important to go over it line by line. Obviously price is the first thing to look at, but there are also concessions that may be asked for by
the buyer such the seller paying all closing costs, or paying for inspections and warranties. Other important items are the terms
surrounding the earnest money deposit, the money the buyer is offering as a refundable or non-refundable deposit to show they are
earnestly interested in your home, and want it removed from "For Sale" status and put into "Pending Sale, or Contingent Sale" status
on the market. Also, the amount of time the buyer has for due diligence to obtain lending, have inspections and review title reports,
and HOA documentation as well as all disclosures is set at this point.
So we've gotten an accepted offer. The buyers agent will open escrow, with the escrow or title company that was approved in the
contract. At this point the title company will perform a title search to find out if there are any “clouds” on the title, such as a mechanics
lien or another person claiming they have a right to the home. Also happening during this initial period of furious activity, the buyer will
have to be provided with HOA documentation, a seller’s real property disclosure form, and all inspections and appraisal should be
taking place. In my transactions I like for this to all take place within a window of 10 business days. During this time, the buyer is
making sure the home is sound and that the title is clear and the seller is making sure the buyer is capable of purchasing the home.
Again, depending on the terms of the purchase contract, the buyers’ earnest money will be refundable if they find something in the
inspections, title report, HOA documentation, that makes them feel this is not the right home for them or if they can’t qualify for a loan.
Okay, so we passed all of the inspections, the house appraised, the escrow instructions are correct and the title is clear…we are now
14 days into our 30 day escrow, the buyer is beyond the due diligence period and barring any natural disasters, or alien abductions of
your home or the buyer, we are 16 days from being done. Generally this is the time that you will be packing and preparing to move out
while the buyer is doing the same to move in. The title company will prepare the closing papers and set appointments for the buyers
and sellers to come to their office, or if they are out of state to email or mail the documents to both parties. These documents, or
instructions are made from the purchase contract and spell out exactly what has been agreed to, how much the buyer will be spending
and exactly what the seller will be receiving. Once the documents are signed, by both parties, the title company then needs to receive
funding or marketable consideration from the buyer. Once that has happened, the escrow company sends the proper documents to
the county recorders office to have the new owners put on the title to the home, as well as paying off the sellers loans, all the fees
incurred from the sale and most importantly disbursing the remaining profit to you. .
AND NOW ITS SOLD...TAKE YOUR MONEY AND RUN!!!!!!
CAN I SELL IT MYSELF?- Of course, some people are quite capable of handling the sale of their home themselves. As with most
things, if its not something you do on a daily basis, you will be at a disadvantage when working with someone that does have more
experience, and of course you will be putting a lot of time into the process. A Realtor makes the process much easier, much the same
way an accountant makes doing your taxes easier. If you would like to give a try at selling your home yourself please click here and I
will be happy to send you the forms you’ll need to give to a prospective buyer.
WHY CHOOSE ROB TURNEY TO SELL YOUR HOME- I’m glad you asked that, I personally know Rob and he’s really nice guy, a
good dancer and makes a mean Chicken Scaloppini…okay, so you need a little more than that.
Experience- I’ve been selling real estate since 2001. During that time I have helped my clients move out of the home I helped them
buy initially and move up to their next home, move out of their current home and move away, or liquidate an investment property or
1031 exchange into a more diverse or different type of investment.
Market knowledge- I was born and raised in Las Vegas, I’ve seen the changes, both good and bad and have a very good feel of
where things have gone and will go in the future. I understand what the buying trends are in our market and how they have changed in
the past will most likely change in the future.
Marketing & Advertising- I spent 16 years in production and ran my own advertising agency in Las Vegas for 4 years. That’s a
combined 20 years of creating marketing materials and advertising campaigns for a variety of products. What this means is that I know
how to prepare your home for the market and place it in front of the most buyers possible. I understand the importance of placing
advertising for your home, as well as the necessity of utilizing multiple avenues to reach those buyers. This background also allows me
to “think outside the box” when it comes to finding ways to package a home for sale.
Customer Service- One of the most important elements of any buying or selling experience, is the level of customer service you
receive from the professional you hire to assist in that endeavor. I am available to my clients 24 hours a day, 7 days a week on
weekends and holidays. If you feel you need an open house on Christmas Day, we’ll do it…I will expect some egg-nog though…I strive
to make the home selling process as painless and stress free as possible and will do my best to take as much of the pressure off your
shoulders as I can. I am available for all inspections, contract negotiations and escrow signings. One thing I can guarantee is that
barring a case of spontaneous combustion, I will not disappear once I’ve listed your home. It’s my hope and thankfully my experience
that once you’ve worked with me on one transaction, you’ll work with me on your future transactions as well.
FOR A FREE FULL LISTING PRESENTATION PLEASE CLICK HERE
determined by many factors.
Is the market biased towards sellers, buyers or is it an even market? Are there pre-payment penalties on your existing loans, will it
require major repairs, will you have to offer incentives to attract a buyer, do you need to get out quick, or can you wait to get "your
price"? How much, if any capital gains will you have to pay once you've sold? How much will you have to pay in closing costs and
brokers fees? With such a volatile market has your home become so upside down that you'll need to do a short sale
So where do you start in setting the price? An appraiser will take several approaches to determining price once a purchase price
has been set, but basically an appraiser is going to look at the history of similar properties, with similar improvements in the home.
Contrary to popular belief, there is no "magic notebook" that lists what a fireplace is worth, or even a pool. Each home is unique and
requires a specific appraisal.
A comparative market analysis or CMA is similar to an appraisal in that it takes into consideration what a home should be priced at
based on the sales history of similar properties, but it is not as detailed as an appraisal. The comparative market analysis is what a
Realtor uses to give a range of suggested pricing options. I like to give an estimate of what I think a home will appraise for, along with
pricing options that should allow a house to sell faster, or that might "push the market" to see what it will bare. It is possible to get more
than appraised value, but the buyer must be willing to either pay all cash (no loan) for the home, or put down a substantial down
payment that will make up the difference between what the home appraised for and the amount a lending institution is willing to lend on
the home.
For a FREE COMPARATIVE MARKET ANALYSIS, PLEASE CLICK HERE
HOW MUCH IS IT GOING TO COST TO SELL MY HOUSE
There are several fees you will pay in selling your home regardless of whether you use a real estate professional or not.
ESCROW FEES- In Nevada, we use Title, or Escrow companies to facilitate the exchange of money or marketable consideration for
real property. These companies have series of fees they charge for their services, such as escrow fee
title insurance fee, recording fee, and some miscellaneous fees to cover overhead.
LOAN RE CONVEYANCE FEE- A fee, generally around $150 charged by the holder of your existing home loan to pay off the loan
early.
NEVADA TRANSFER TAX- $5.1 per thousand dollars of the total sales price of the home.
HOME OWNER ASSOCIATION FEES- If you don't live in a home with an active home owners association, there will be no HOA fees. If
you do, there will be a document fee, and an association transfer fee. The document fee is generally paid by the seller and the
transfer by the buyer, but this is one of those "negotiable areas". A seller of real property governed by an HOA in the state of Nevada
is required by law to provide a purchaser of that home with the most current set of HOA documents available. The transfer part is
actually handled by the title company. Other HOA fees that may come into play are assessments, LID or SID, and possibly multiple
HOA's. You might live in a subdivision such as Strawberry Fields in Green Valley that has a pool association, a master planned
association and a Home Owners Association. Each will have its own set of documents and transfer fees.
BROKERS FEES- If you use a Realtor or a real estate professional to assist with your sale, they will charge a broker fee. These fees
are by law, negotiable. As with any negotiation, neither party has to accept what the other wants, but if you are told this is a "standard
fee" they aren't being completely truthful. A brokerage may set a price or percentage they want their agents to shoot for, but again
there is no "standard" fee. Generally the broker fee is a percentage of the sales price, but there are companies that work for a flat
listing fee. The brokers fee is typically divided between a listing agent and buyers agent (or selling agent). So if there is a 6%
commission, typically 3% will be set aside for the listing agent and 3% will be set aside for the buyers agent. Because this is a
negotiable item, these splits and percentages can vary widely. In addition to the percentage of the sales price, there are sometimes
fees for document ware-housing or miscellaneous brokers fees.
NEGOTIABLE FEES- Items that you may wind up paying for from your proceeds, that can be used as part of the negotiation, or can be
required based on the type of loan the purchaser is using are an appraisal fee, home warranty, home inspection, pest inspection, roof
inspection and various certifications.
FOR A FREE ESTIMATE OF WHAT YOUR FEES MIGHT BE CLICK HERE
THE PROCESS- Okay, lets assume you've gotten your home ready to sell and you're using a Realtor, well um I mean me of course, so
the house sells in 10 minutes for $100,000 more than we listed it for and there's nice vacation package to Hawaii for a month and
brand new Porsche 911 Turbo thrown in, cause thats just how I roll! All right, the lawyers tell me now I have to say the proceeding
statement was meant to be a joke and we guarantee no quick sales, lots of money over list price trips or cars. (are you happy now
Mike?)
Back to reality, or realty as we were discussing before my little trip down fantasy lane...
We've listed your home, and a buyer likes and makes an offer. The buyers agent, or the buyer if there is no buyers agent, delivers
their written offer to your agent, who either presents it to you, or is present as the buyers agent presents it to you. We discuss the
terms of the contract and either accept it as is, reject it outright or counter it with terms that would be acceptable.
The terms of a contract vary greatly by the contract, we currently do not have one universal purchase agreement in Nevada, so its
important to go over it line by line. Obviously price is the first thing to look at, but there are also concessions that may be asked for by
the buyer such the seller paying all closing costs, or paying for inspections and warranties. Other important items are the terms
surrounding the earnest money deposit, the money the buyer is offering as a refundable or non-refundable deposit to show they are
earnestly interested in your home, and want it removed from "For Sale" status and put into "Pending Sale, or Contingent Sale" status
on the market. Also, the amount of time the buyer has for due diligence to obtain lending, have inspections and review title reports,
and HOA documentation as well as all disclosures is set at this point.
So we've gotten an accepted offer. The buyers agent will open escrow, with the escrow or title company that was approved in the
contract. At this point the title company will perform a title search to find out if there are any “clouds” on the title, such as a mechanics
lien or another person claiming they have a right to the home. Also happening during this initial period of furious activity, the buyer will
have to be provided with HOA documentation, a seller’s real property disclosure form, and all inspections and appraisal should be
taking place. In my transactions I like for this to all take place within a window of 10 business days. During this time, the buyer is
making sure the home is sound and that the title is clear and the seller is making sure the buyer is capable of purchasing the home.
Again, depending on the terms of the purchase contract, the buyers’ earnest money will be refundable if they find something in the
inspections, title report, HOA documentation, that makes them feel this is not the right home for them or if they can’t qualify for a loan.
Okay, so we passed all of the inspections, the house appraised, the escrow instructions are correct and the title is clear…we are now
14 days into our 30 day escrow, the buyer is beyond the due diligence period and barring any natural disasters, or alien abductions of
your home or the buyer, we are 16 days from being done. Generally this is the time that you will be packing and preparing to move out
while the buyer is doing the same to move in. The title company will prepare the closing papers and set appointments for the buyers
and sellers to come to their office, or if they are out of state to email or mail the documents to both parties. These documents, or
instructions are made from the purchase contract and spell out exactly what has been agreed to, how much the buyer will be spending
and exactly what the seller will be receiving. Once the documents are signed, by both parties, the title company then needs to receive
funding or marketable consideration from the buyer. Once that has happened, the escrow company sends the proper documents to
the county recorders office to have the new owners put on the title to the home, as well as paying off the sellers loans, all the fees
incurred from the sale and most importantly disbursing the remaining profit to you. .
AND NOW ITS SOLD...TAKE YOUR MONEY AND RUN!!!!!!
CAN I SELL IT MYSELF?- Of course, some people are quite capable of handling the sale of their home themselves. As with most
things, if its not something you do on a daily basis, you will be at a disadvantage when working with someone that does have more
experience, and of course you will be putting a lot of time into the process. A Realtor makes the process much easier, much the same
way an accountant makes doing your taxes easier. If you would like to give a try at selling your home yourself please click here and I
will be happy to send you the forms you’ll need to give to a prospective buyer.
WHY CHOOSE ROB TURNEY TO SELL YOUR HOME- I’m glad you asked that, I personally know Rob and he’s really nice guy, a
good dancer and makes a mean Chicken Scaloppini…okay, so you need a little more than that.
Experience- I’ve been selling real estate since 2001. During that time I have helped my clients move out of the home I helped them
buy initially and move up to their next home, move out of their current home and move away, or liquidate an investment property or
1031 exchange into a more diverse or different type of investment.
Market knowledge- I was born and raised in Las Vegas, I’ve seen the changes, both good and bad and have a very good feel of
where things have gone and will go in the future. I understand what the buying trends are in our market and how they have changed in
the past will most likely change in the future.
Marketing & Advertising- I spent 16 years in production and ran my own advertising agency in Las Vegas for 4 years. That’s a
combined 20 years of creating marketing materials and advertising campaigns for a variety of products. What this means is that I know
how to prepare your home for the market and place it in front of the most buyers possible. I understand the importance of placing
advertising for your home, as well as the necessity of utilizing multiple avenues to reach those buyers. This background also allows me
to “think outside the box” when it comes to finding ways to package a home for sale.
Customer Service- One of the most important elements of any buying or selling experience, is the level of customer service you
receive from the professional you hire to assist in that endeavor. I am available to my clients 24 hours a day, 7 days a week on
weekends and holidays. If you feel you need an open house on Christmas Day, we’ll do it…I will expect some egg-nog though…I strive
to make the home selling process as painless and stress free as possible and will do my best to take as much of the pressure off your
shoulders as I can. I am available for all inspections, contract negotiations and escrow signings. One thing I can guarantee is that
barring a case of spontaneous combustion, I will not disappear once I’ve listed your home. It’s my hope and thankfully my experience
that once you’ve worked with me on one transaction, you’ll work with me on your future transactions as well.
FOR A FREE FULL LISTING PRESENTATION PLEASE CLICK HERE
