How to Have a Stress-Free Real Estate Transaction

by Tracy on July 9, 2009

In this market? Are you kidding? I hope you can see that this is a fantasy title but honestly, if you do everything I say, you really will have less stress when you sell or buy a house.

Hire a professional.

Whether you are a Buyer or a Seller: choose a full-time professional Realtor who has a lot of experience, have an open and honest conversation about what you want to (or have to) accomplish, and then if you decide to work with that person, follow her advice. If you don’t agree with something she suggests, talk about it in an open, collaborative way. Selling your house is a team effort and while you may be the owner, your Realtor is your coach, and if she doesn’t know about your trick knee, she won’t know that you can’t do 350 squats a day. And if you’re not willing to do what she says, why did you hire her?

Have every kind of inspection you can think of done by a qualified professional, including:
General
Sewer
Chimney
Termite
Plus any additional inspections suggested by the previous ones.

Make a punch list from what they recommend and then get all those things done, and with permits, if needed. Keep all the reports and receipts from the work you did and make a copy for your Realtor to pass on to prospective buyers and their Realtors.

Or: Are you willing to have the inspections done, provide them to the buyers and Realtors, and price your house to reflect the work that is called for?

Or: Are you willing to take your chances with whatever the buyers’ inspections turn up and adjust your price accordingly?

Good Looks Go A Long Way

Questions to ask yourself:

Does my house look like it could have been pictured in (pick your style) American Bungalow, House Beautiful, Atomic Ranch, Architectural Digest, Sunset, or Dwell?

Or does it look a little more like Grey Gardens? 115-1531_img

Can I actually see my house, or do I just see my stuff?

Do I have the time and talent to make my house look great?

More questions for you:

Would I pay this much for this house if I were buying it in today’s market?
Does the price suggested by my Realtor make me want to throw up?
In a declining or bottoming market, do I understand that the longer I wait, the lower the price can be?
Can I let go of how much money I might have gotten 2-3 years ago?
Can I let go of how much money/effort/love I’ve put into this property? Paid for this property? What I ought to get for this property?
Can I keep this house in “Showtime” condition? If not, can I move out?
Is the house tenant-occupied? Can I move them out? Note: You will make more on the sale of your house than you will lose in rent if you move your tenants out, 99 out of 100 times. And you will sell quicker with less headache. I know, you think you can’t afford to have it be vacant with no rent coming in, but I’m just saying!

Here ends Part 1. Next stop, being a successful Buyer.

Previous post: Eagle Rock and Highland Park Art/Business Updates

Next post: Rid Yourself of E-Waste!