The sale of your home can be a complex process to your family and you. Prior to beginning this process, allow me to provide you the most up-to-date information of the market. When is the best time to sell? How to obtain the optimal price for your home? What kind of renovations or repairs should be made before the sale?
To help answer many of your questions and provide you a peace of mind during this complex process, these reports will guide you through the process. When you are provided with the most current market information, an experience real estate professional and marketing team, we are able to attain a common vision and you’ll be closer reaching your goal.
9-Point Premier Marketing Plan
by Dan Wong
As your agent I will continue to closely work with you in the selling process. You will receive the highest level of real estate professionalism when working with our Windermere team. Our goal is to complete the sale of your home in the shortest duration of time with results of a premium selling price possible in the market area of your home. I will …
v Provide you with a customized marketing plan along with the most current researched market analysis of your home, prior to listing your home on the market. Including directly prospecting your neighborhood with postcards or flyers (both).
v Consult you on the staging and preparation of your home for a good first impression (if necessary).
v Market your home in the NWMLS (Multiple Listing Service), Tacoma News Tribune, Local Real Estate Publications, Windermere.com & Leadingyouhome.net Websites and professionally produced flyers.
v Install a personalized sign on your property, flyer box containing an informational flyer with photographs as well as my direct contact number and website address for viewing additional photos.
v Install a lockbox to facilitate previews and showings, upon your approval.
v Prospect and Screen for potential buyer’s looking to purchase within the area of your home.
v Promote your home by informing Windermere Real Estate sales associates of your home, highlighting its special features, arrange company tour of your property, holding brokers’ open and public open houses upon your approval.
v Prepare & provide Agent/Buyer’s informational packets (Legal description, Disclosures, etc.) and flyers to be left at your home, to be available for agents and buyers. Also follow up with all Agents showing your property and request comments/feedback.
v Utilize an aggressive marketing plan and current technological applications to promote the sale of your home in our current market.
FREQUENTLY ASKED QUESTIONS
How Can I Maximize the Equity Gain on My Home?
A clean, neat home in need of few or no repairs will sell faster, and at a higher price, than one that is run-down. To give your home its best possible presentation, perform a mini-makeover before your home is shown to potential buyers. Then, do a final walk-through with Dan to make sure that no details have been overlooked. (See below)
What Additional Costs Are Associated With a Home Sale?
You will be responsible for Standard Title Insurance, half of the Escrow fee, Sales commission, excise tax and other miscellaneous fees, in total about 8% of the sales price.
The seller pays:
• Brokerage commission (the sum or percentage of the sale price, previously agreed upon by the seller and real estate agent)
• One-half of escrow or legal fees paid to the attorney or escrow company for preparing the closing
• Document preparation fees
• Recording and notary fees
• Title search and title insurance (paid by either the seller or the buyer)
• Local transfer taxes, if any
• State taxes, if any
• Repairs or inspections you have agreed to pay for
• Total is typically 8-9% of sales price
What about capital gains?
The new capital gains tax rules have provided wonderful tax breaks for those selling their home. The way the law previously read, a seller over the age of 55 was allowed a one-time gain of $125,000 on the sale of his or her house. Sales prices in excess of this amount were taxed at a roughly 28% rate.
Now, singles or couples filing are allowed to defer $250,000 in gain, tax-free ($500,000 for married couples). Sellers may take advantage of this tax-free gain law every two years, provided it had been the principle residence for these two years.
In addition, the home needs to have been the seller's primary residence for two of the last five years. Sellers over the age of 55 can take advantage of the new capital gains tax law as long as the property has been the primary residence for at least two of the last five years.
There is an approximate 20% tax on the difference over $250,000 ($500,000 for married couples). This stands in contrast to the previous tax law under which sellers were taxed at 28% after $125,000, and then the tax was only deferred if a home of equal or greater value was purchased.
Also, beginning in 1998, first-time home buyers are able to use up to $10,000 from an IRA account towards the down payment on a home purchase, without paying the standard penalty for early withdrawal. Any number of parents, children and other family members are also able to defer IRA withdrawal penalties, up to a combined total of $10,000 towards the down payment. Although penalties are waived, the taxes drawn on the withdrawn IRA funds are not waived.
For more information, visit the United States Internal Revenue Service.
Is everyone who shows my house representing my best interests and me?
Under new Washington State Agency laws, in most cases the agent with the buyer will be representing that buyer and not you. As your listing agent, Dan will see to it that your best interests are looked after.