7 Real Estate Terms Every Del Prado Home Seller Should Know

7 Real Estate Terms Every Del Prado Home Seller Should Know

Selling your Del Prado Home can be overwhelming and stressful, especially if you are a first time home seller. Hiring a real estate agent and arming yourself with the right information are some of the best things you could do to sell your home fast.

One of the things that make real estate transactions challenging and complex is the paperwork and jargon. Read on for a list of common real estate terms sellers usually encounter during the home selling process.

Appraisal

Appraisal refers to the price evaluation of a property by a licensed appraiser based on previous sales of similar homes for sale in Del Prado Pleasanton. The appraised value is used by a bank to determine the maximum amount they can lend a borrower to buy a specific property. As a seller, you may have your property appraised to help decide your home’s asking price.

Bidding war

A bidding war is a situation where two or more buyers are so interested in a property that they make increasingly higher offers of the price they are willing to pay to try to become the new owner of the home. In a bidding war, the buyers’ agents send the offers to the listing agents who in turn present them to the seller. The listing agent presents all written offers that come in at the same time. The seller may ask the buyers to sweeten the deal and the buyers can then come back with better offers to the seller.

Closing costs

Closing costs refer to the expenses incurred in the purchase and sale of real estate property. This is paid at the time of settlement or closing when the ownership of the property is transferred from the seller to the buyer. Title insurance, attorney fees, appraisal fees, recording fees, and taxes are some of the common examples of closing costs.

Contingency

Contingency refers to a condition that must be met in a legally binding contract. It means that the home offer has been made and the seller has finalized. However, the finalized sale is contingent upon certain criteria in the contract that have to be met. These contingencies typically fall under three major categories which include appraisal, home inspection, and mortgage approval.

Curb appeal

You need to focus on improving the curb appeal if you want to maximize your property’s value. Curb appeal refers to the attractiveness of the exterior of a home as viewed from the street. Typically, homes with appealing front view can sell faster, lift moods, and give a better first impression.

Home Inspection

Home inspection is important for both home buyers and sellers. It refers to the non-invasive examination of the condition of a home, usually in connection with the sale of of the home. A home inspector will perform a visual inspection of your home from top to bottom, including all the main systems.

Seller’s Agent

The seller’s agent, also called the listing agent, works with the seller to establish an appropriate sales price for the home. She works on the seller’s behalf and markets the property through a multiple listing service. She aims to get the highest possible price and the best terms available for the seller.

Check out http://www.HomeValuesPleasanton.com for more home selling ideas, and for a free market evaluation of your home in Del Prado.

If you are looking for a Pleasanton luxury REALTOR® who can help you sell or buy your dream luxury home, call me, Rhonda Fee, at 925-200-0827. You can also text 925-660-7110 with any of these codes: seller411, buyer411 or homesearch. With my extensive experience and knowledge of the Pleasanton luxury real estate market, combined with a track record of satisfied clients, your next transaction will be the best move you’ve ever made!

Rhonda Fee

I am a REALTOR @ Aspire Realty Services
4713 First St. #285,
Pleasanton, CA 94566
925-200-0827
My clients are my business; without them my business can’t exist. I work very hard for the money I earn and pride myself on never pushing a client to make a decision when they are not ready. The process is about them, not me.

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