SELLING A HOME

• An experienced full time agent will visit your home and prepare a detailed market analysis indicating a market value range by similar properties recently sold as well as pricing on potentially competing properties currently available.
• Your exclusive agent will represent your interests in pricing, marketing, showing, negotiating, and following the sale through closing.
• Your agent will fill out a Seller Net sheet showing all costs involved and showing your bottom line.
• You will be given a custom marketing plan, including feedback from our office tour. 
• Your listing will be input into two Multiple Listing Services covering virtually all of Northern Illinois.
• If single family, your home will have the tremendous advantage of the instantly recognizable Prudential yard sign.
• Your listing information, with your permission, will be given to our e-marketing experts for inclusion in our extensive internet marketing program. 

21 QUESTIONS THAT HELP A HOUSE SELL FASTER

1. Does the house or any part of the house need painting?
2. Should I reseed the lawn and get my landscaping in top shape?
3. What about the screens? Any holes? What about the windows? Do they work well, or do they need attention?
4. Does the carpet need cleaning? How about replacing?
5. Are pet under control at all times?
6. Are all appliances in good working order?
7. Should I stay out of a prospective buyer's way?
8. What is the first impression of the exterior of our house? What can I do to improve it?
9. What is the first impression of the interior of our house? What can I do to improve it?
10. Since the client will be looking in the closets, should I take some of the clothes out to make them look roomier?
11. Can I take items from kitchen cabinets to make them more spacious?
12. Is there any furniture I could store or dispose of to make rooms appear spacious?
13. Do any cabinets need to be touched up or refinished?
14. Should I give my agent a list of things my family likes about the house and neighborhood?
15. What about the door mats: Should I replace them with new ones that are neutral and omit our family's name?
16. Should I remove an ornate item that a buyer may want as part of the house? For example, a special chandelier? Or wall system: Or ceiling fans?
17. Should I ask my agent for a list of recommendations prepared specially for helping market my house?
18. Will the price and terms offered appeal to most of the buying public in my price range?
19. Do I need to be aware of other houses similar to mine also offered for sale?
20. Are the garage and storage areas as clean and neat as they should be?
21. Before spending needless time and money on other improvements, should I consult with my agent?

• WE'LL GET IT SOLD FOR YOU!

• REAL PEOPLE ANSWER OUR PHONES! A salesperson (not a machine) who has viewed your home fields inquiries from potential buyers and other agents and can describe your home first hand.

• ADVERTISING! Through the MLS, the INTERNET, print advertising, TV advertising, flyers, brochures, direct mail and work of mouth, your home will be exposed to the greatest number of potential buyers and cooperating agents.

• CORPORATE TRANSFEREES AND OUT - OF STATE REFERRALS are our specialties, through the Prudential Real Estate Affiliates relocation network of over 2,500 offices and the power of the Prudential Relocation Services.

• WE "TELL IT LIKE IT IS"! After inspecting your home and analyzing the market, we'll objectively advise you on a probable sale price range, optimal offering price, estimated net proceeds and enhancements to your home (if any) that might improve its marketability. You'll have everything you need to make informed decisions.

• WE STAY IN TOUCH WITH YOU and keep you posted regularly on buyer's reactions to your home, market conditions and our progress a getting it sold. We'll return your phone calls.

• YOU'LL LIKE OUR "TEAM APPROACH" to selling your home. Our salespeople personally view your home and are committed to helping sell it!

• WE KNOW WHAT WE'RE DOING! Our salespeople are all trained and experienced in qualifying buyers, completing contracts and riders, presenting offers, negotiating, arranging for financing and following through on all the details to closing.

• WE'RE EASY TO DO BUSINESS WITH -- knowledgeable and professional, yet friendly and courteous.

• WE'LL GET YOUR HOME SOLD and sold for the maximum market value consistent with your timing requirements and with the least inconvenience to you.

• SERVICE IS OUR SPECIALTY! We have earned a 98.6% customer satisfaction rate from our past clients (compare that to the industry average of 76%). May we earn your satisfaction?

 STAGING YOUR HOME FOR A FASTER SALE

There are many things you can do to help us turn a prospect into the buyer of your home. It is important to realize that people live differently in a home when it is on the market. For example, think of how builders decorate Model homes:

1. Kitchen and Dining room tables are set with the best tableware, placements, and cloth napkins.
2. Small amounts of furniture in each room to make the room look larger.
3. Just a few knickknacks to decorate without cluttering.
4. Drapes opened and all lights on - even in daylight.
5. Organize closets to give the impression of ample storage.
6. In winter, a fire in the fireplace.
7. Soft music playing in the background.
8. Lawns and gardens manicured.
9. Freshly painted in neutral colors.
10. Neutral new or freshly cleaned carpeting to meet the tastes of the majority of buyers.
11. Freshly cleaned windows
12. Brightest possible light bulbs in all rooms, including the garage and basement.
13. Sparkling clean bathrooms, with commode lid closed.
14. Kitchens are very important:

• Counters clear of clutter
• Sparkling clean
• Consider odors:

• Don't cook foods with strong aromas
• Put a box of baking soda in the refrigerator
• Grind 1/2 lemon in disposal
• Heat some cinnamon water in the oven

15. Builders models don't look "lived in". (They are not!) Beds are perfectly made, homes are squeaky clean, kitchens are bright, open, and uncluttered.

If you can incorporate these extra touches into your home, you will get more potential buyers and a faster sale.

These extra touches are extremely important for multiple listing tour, company inspection, buyers showings, building inspections, and lender appraisals.

EXPLANATIONS OF IMPORTANT REAL ESTATE CONTRACT PROVISIONS

As part of the process of buying a new house or selling your present house you will have to sign a written contract. That contract will probably contain a lot of unfamiliar words couched in difficult sentences and printed in very small type. This page aims to give you a nodding acquaintance with certain provisions that are commonly found in real estate contracts, so you can knowledgeably discuss these terms with your lawyer. But there are many different contract forms out there, containing many different contract terms. Please make sure you review the particulars of YOUR contract with YOUR lawyer. Visit Attorney Steve Evans' page

Table of Contents

ATTORNEY APPROVAL - You have signed a real estate contract which represents the largest financial transaction of your life - and your attorney did not even see the contract before you signed it. Is this a problem? It's not if the contract has an adequate attorney approval provision. Such a provision allows your attorney the opportunity to review your contract within a few days after it has been signed and to propose changes to benefit you. If the changes are accepted by the other side they become part of your contract. If not, and if the proposed changes cannot be resolved through negotiation, you may cancel the contract.

CONDITION OF REAL ESTATE - In a perfect world when the Purchaser takes possession of a home, the floors would be waxed, every inch of the carpets would be professionally cleaned, and nail holes would be spackled, painted, and indistinguishable from the rest of the wall. In the real world, contracts usually provide that the Seller must remove all personal property and debris and leave the home in "broom clean" condition. The contract should provide the Purchaser with an opportunity to inspect the home within a few days of the closing to make certain that the Seller has complied with this contract provision. If the Seller has not complied with this provision, the Purchaser would have the right to refuse to close - but most of the time it is possible to resolve such issues and still close.

EARNEST MONEY - A Purchaser has signed a contract, obligating him to purchase a home. Why does the Purchaser have to provide earnest money? Earnest money helps assure the Seller of the Purchaser's good faith. Real estate contracts commonly provide that if the Purchaser is not able to perform the contract because a contingency was not satisfied (e.g., Mortgage Contingency, Home Sale Contract Contingency, Home Sale Closing Contingency), the Purchaser is entitled to the return of his earnest money. But if the Purchaser cannot complete the contract for some other reason (e.g., never applied for a mortgage, change of heart), the earnest money may be forfeited.

FINANCING CONTINGENCY - Most of us do not have enough cash sitting in our bank accounts to allow us to purchase a home for cash. We have to get mortgage loans. This provision says that if the Purchaser obtains a mortgage of the type specified, for the amount specified, at the interest rate specified, the Purchaser will complete the purchase of the home. And if the Purchaser does not get a loan at least as good as the one specified in the contingency, the Purchaser can terminate the contract by giving notice to the Seller and can get his earnest money back.

HOME INSPECTION - The house looks beautiful; it has new carpeting, freshly painted walls, and it appears to be in mint condition. But how can you be sure of the home's condition? If your contract contains a home inspection clause you will have an opportunity to have a professional home inspector inspect the property and provide you with a report on its condition. Depending on what you find in the report, you might be completely satisfied with the home, you might wish to ask for some repairs, or you might want to cancel the contract. Your attorney will be able to advise you of your options under this provision of the contract and to assist you after you have decided on your course of action.

HOME SALE CONTRACT CONTINGENCY - You have found a house that you want to buy, but you have one tiny little problem before you can close on the purchase of your dream house - you have to find a buyer for your existing home. This contract term allows you a period of time to find a buyer for your home and states that if you are not able to find a buyer within that time, you may terminate the contract and get your earnest money back if you give timely notice to the Seller. Sellers are often reluctant to include this contingency, so this provision often provides that the Seller may continue to list the home and accept other offers while this contingency exists. If the Seller does accept another offer, you will have to decide whether you want to waive this contingency and proceed with the contract or cancel the contract and get your earnest money back.

HOME SALE CLOSING CONTINGENCY - This contract term is often used with the Home Sale Contract Contingency term discussed above. If you are the Purchaser and you have this contingency in the contract, you are telling that Seller that you will close on the purchase of the Seller's home only if your buyer closes on the sale of your existing home. Sellers may be even more reluctant to include this provision, so it also often provides that the Seller may continue to list the home and accept other offers while this contingency exists. And the same as with the Home Sale Contract Contingency, if the Seller does accept another offer, you will have to decide whether you want to waive this contingency and proceed with the contract or cancel the contract and get your earnest money back.

POSSESSION - If you are the Seller, when are you going to give possession of your home to the Purchaser? If you are the Purchaser, when are you going to get possession?. Most of the time the Seller and Purchaser arrange it so that possession of the home will be turned over to the Purchaser at the closing; that is, the Seller turns over the keys at the end of closing and by that time Seller has removed all of his possessions from the home. But sometimes that is not possible or desirable for one or both of the parties. If the Seller will not be moving out of the property by the time of closing, the Seller should expect to pay rent to the Purchaser on a daily basis and to deposit money in escrow to guarantee that possession will be given to the Purchaser on some specified date. If possession is not being given at the time of closing the Purchaser might also want to do a final inspection of the home just before taking possession.

PRORATIONS - The Seller and Purchaser can agree that the Seller should be responsible for bills relating to the home for the time period prior to closing and that the Purchaser should be responsible for such bills after closing. And some bills are neatly divided that way - the phone, electric, and gas companies separately bill the Seller and the Purchaser for the amounts they owe. But certain bills are not conveniently divided that way (association dues and property tax bills, for example). So it is necessary to prorate those bills - at the closing the Purchaser may give a credit to the Seller for the Purchaser's proportionate share of the association dues, and the Seller may give the Purchaser a credit for Seller's proportionate share of of the property tax bill. The attorneys for the Seller and the Purchaser will calculate those prorations and determine whether an appropriate credit is being given.

SURVEY - A Purchaser (and the Purchaser's lender!) wants to make sure that the house, garage, and any other buildings or improvements are located within the lot lines of the property and do not encroach on building lines or easements. Contracts commonly require the Seller to provide a recent survey so that the Purchaser and the Purchaser's attorney can examine it at closing to make sure that no problems of that kind exist.

TIME IS OF THE ESSENCE - This is a legal phrase that is commonly tacked onto the end of contracts. It means that both parties to the contract agree that the deadlines specified in the contract (e.g. the closing date) are important and enforceable against each party. Court cases have said that if a contract does not contain this phrase, a party may have difficulty in enforcing the performance of a contract by a specified date.

TITLE INSURANCE - Most real estate contracts in this area require the Seller to purchase a policy of title insurance for the Purchaser. This type of insurance provides that if there is a covered defect in the title to the property, the title insurance company will protect the interests of the Purchaser. What are examples of defects in title? A prior mortgage on the property that has not been released, a judgment against the Seller that has been recorded as a lien against the property, an earlier tax bill that has never been paid - these are all examples of defects in title.