Irvine Real Estate Link, CA – Preparing to sell your Irvine home?

by Robert Mack on August 10, 2008

in Irvine Real Estate

In today’s market and economic conditions, selling your Irvine home maybe a chore to be reckoned with. It is difficult to get your asking price, nevertheless, not impossible. It all depends on a variety of circumstances, and a bit of luck, if I might add.

1. First and foremost, your agent:

The agent plays a tremendous role in helping their clients in either buying or selling a property. See my Weblog on “Choosing the right agent”.

2. If you are desperate, don’t look the part:

Buyers have a keen sense of smell about seller’s reasons to part with their homes. You, as a seller, do not have to give a reason, but to be polite and politically correct, you can always tell them something like: ‘want to be near my son’, ‘it’s getting big for us’, ‘it’s getting small for us. Our family is growing’. As soon as they smell your desperation, the leverage factor tilts towards them [buyers].

3. The first impressions:

The first thing the Irvine home buyers look for is the neighborhood. Although you can’t do much about it, but the condition of the exterior of your house in that neighborhood is important. Color, roof condition, pealing paint, overgrown trees leaning towards the roof and shedding their leaves on it, overgrown and unkempt lawn, weed-infested flower beds. These and perhaps many more are factors that tend to put off the prospective buyer from the idea of purchasing your home, even if the interior is quite presentable.

4. The Interior – second impressions:

The premises may be empty or full (as in the family still occupying it). Either case has its advantages and drawbacks, which of course, vary according to personal preference. The drawbacks to Mrs. X may be taken as an advantage by Mr. Y, and vice-versa. A swimming pool in the back yard may be a joy to Mr. Y, but construed as a money pit to Mrs. X.
Freshly painted, newly-installed floor covering, refurbished cabinets, major appliances left for the new owners, are also a point-of-sale factors.
Some prefer to look at the interior where there is no furniture, no pictures hanging on the walls, no decorations. They can envision better. Some, on the other hand, like to have an idea how it feels when all is filled up.

5. Necessary repairs:

It is imperative to perform the necessary repairs where needed. You can always add the cost of the repairs to your asking price and make it a bargaining point, and reduce it later when the time calls for it. Besides, the repairs may be tax deductible (consult your accountant). I would not go so far as to hire an interior decorator to tart it up, but then again, if you want to you can.

6. In move-in-condition:

Is your Irvine property for sale in move-in-condition? This might be a huge factor. To the buyer it may mean no extra out-of-pocket expenses.

7. Know the fair market value of your property:

Your agent can tell you this easily. Don’t let the buyer be warded off by an unreasonable asking price. Your Irvine real estate professional must take it upon himself or herself to advise you on this very important factor.

8. When to sell?:

Although this point may be open for debate, experience has shown, in most circumstances, spring and summer months are when people buy and sell properties the most, especially in California—to be specific, in southern California where the comfortable climate sneaks into fall and sometimes winter months. A prospective buyer is normally put off by the cold, rain, sleet and snow.

9. Where to buy:

Proximity of Irvine schools, hospitals, parks, shopping malls and entertainment centers is a contributing factor.

10. Flexibility of the seller on escrow periods:

Some buyers would like to have 30, 45 or 60 day escrows. The reason for this maybe countless but one of the prominent ones is that the buyer may require time to sell his or her property first. On the other hand, the buyer may want to move in as soon as possible and may require a 15 day escrow. The seller must be flexible if he or she wants to sell the property.

Views, comments, responses and constructive criticisms are welcome.

Make it a great day.

The Mack Team
Robert & Tania Mack

Century21 Professionals

Irvine, Orange County

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