Real Estate Matters 12.29.2020

PRESQUE ISLE, Maine (WAGM) -Selling your home can be surprisingly time-consuming and emotionally challenging, especially if you’ve never done it before. But as Shawn Cunningham reports in this week’s Real Estate Matters, a local realtor offers some insight to make the process a bit easier.

You’re either selling your home or in the market to buy a new one. Either way there are several important steps to take through the process. Realtor Stephanie Fields says its important to first have the proper insurance.

Stephanie Fields Realtor, Fields Realty LLC.

“your lender might have required you to have homeowners insurance but if not its important to have insurance on the property if you have an incident somebody falls or hurts themselves the other thing that is important as a seller is you want to make sure there are no obvious hazards of the property and that you help take the steps to mitigate them.”

Shawn Cunningham NO STANDUP

That being said she says its equally important to be upfront...don’t hide any problems about the property.

“thinking your gonna get away with hiding a major problem or defect is not going to get you anywhere any problem should be uncovered during a buyer’s inspection and you have three options to deal with you can fix the problem ahead of time you can price the home below the market valued to account for that issue or you can list the property at a normal price an offer credit to the buyer to fix the problem.”

All this should be done while your preparing for the sale agreement and transaction. In that process Fields says its key to be diplomatic while still trying to accommodate potential buyers.

And make sure you’re selling to qualified buyers.

“its very reasonable to expect a buyer to bring a prequalified letter or proof of funds to sellers to its normal does the buyer have proof of funds can they afford this house. and the other thing you should know are you gonna be doing a purchase and sale and is it contingent on of a buyer selling their home.”

That too should be disclosed up front. All in all as long as both parties are forthcoming and diplomatic the process should run smoothly...

“there are title companies attorneys lenders appraisors inspectors we try to make it seamless there are things that do come up but we work through them.”

Shawn Cunningham, NS 8.

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