3 Financial Tips for Selling Your Home

The key to the financial side of home selling is planning. Even if you do not plan to sell your home right away, you can start working toward your financial goals and plans that go along with selling your home at the Lake of the Ozarks. If you are in the market to sell your home, your trusted real estate agent in Lake Ozark, Missouri is here for you! I have provided some helpful finance tips to help prepare your home for a successful sale.

1. Price it Right

The price in which you list your home has a major impact on the speed of selling. Of course it is important to get out what you have invested, but the real estate market does change and it is recommended to adapt your pricing strategy to meet the market demand. Deciding on a home price can be a tricky process. An experienced real estate agent at the Lake of the Ozarks can help you evaluate current market conditions in comparison to your home, in order to come up with the right price to sell your home.

2. Increase Home’s Worth

There are a number of methods to help improve you value of your home. From a bathroom remodel to a kitchen appliance upgrade, try to find the right improvements to make, if any, that could help add to the worth of your house. When investing in your home, especially before selling, you want to ensure it is an upgrade that will likely add to the value. Your trusted real estate agent can help make suggestions in which to improve the appearance and functionality of your home, before selling.

3. Plan Your Next Move

Many times individuals who sell their home plan to purchase another property simultaneously. This can become a financial balancing act, if you end up buying a home before selling your current home. There are a number of options your experienced agent can assist with when selling and buying at the same time. When deciding to sell your house, have a set plan in place of how to handle your home transactions.

For help with the sale of your home, try to make a financial plan in regards to the sale. Through pricing strategy, increasing value, and planning, you can help prepare for your home sale at the Lake of the Ozarks. No matter if you plan to sell in the near future or a few years down the road, you can always make a solid financial plan for your home. Your expert real estate agent in Lake Ozark, MO can help you prepare for the successful sale of your house. Give me a call at (573) 280-0484 if you are ready to sell!

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484

15 Real Estate Terms You Need To Know

The home buying and selling process can seem a bit intimidating with all of the specific terms and real estate lingo, especially for first timers. Whether you are new to the real estate market, or just need a quick refresher, your trusted real estate agent at the Lake of the Ozarks has provided a guide to help clarify. Provided below are top terms that are used frequently in the real estate market, and can help you better prepare for selling or buying a home in the near future.

1) Seller’s & Buyer’s Agent – A buyer’s agent will represent the those looking to purchase a home and a seller’s agent will represent the homeowners who are selling.

2) Listings – A listing refers to a home that is currently for sale on the market.

3) Pre-Approval - A borrower has completed a loan application and provided debt, income, and savings documentation, which an underwriter has reviewed and approved. A pre-approval letter shows the homeowner and their real estate agent a dollar amount in which they are approved to borrow.

4) Down-Payment - The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage. The down-payment amount required varies with the type of loan.

5) Appraisal - A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.

6) Escrow - An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. Putting money into an escrow account shows everyone involved in the transaction, that you are serious about purchasing the home.

7) Inspection - A thorough inspection by a professional that evaluates the structural and mechanical condition of a property. Many times a buyer’s offer will be contingent on an inspection.

8) Contingent - A condition that must be met before a contract is legally binding.

9) Closing Cost -  The amount you are required to bring to closing, when you sign the papers to buy or sell your house.

10) Lender - A term which can refer to the institution making the loan or to the individual representing the firm.

11) Home Warranty - A type of insurance often purchased by homebuyers that will cover repairs to certain items, such as heating or air conditioning, should they break down within the coverage period.

12) Title - A legal document evidencing a person's right to or ownership of a property.

13) Principal - The amount borrowed or remaining unpaid. Principal is the part of the monthly payment that reduces the remaining balance of a mortgage.

14) Equity - A homeowner's financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on its mortgage and other liens.

15) Homeowner Insurance - An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents. This is typically tied into your mortgage payment.

Now that you have a refresher on these common real estate terms, you are ready to enter the market with confidence. Whether you are buying or selling, the lingo can help you understand what your expert real estate agent in Lake Ozark, MO is referring to. If you are in the market to sell or buy, I would be pleased to help you throughout the entire process. I will be able to walk you through and explain each step and term necessary for your real estate transaction. Give me a call at (573) 280-0484 for all of your real estate at the Lake of the Ozarks needs.

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484

7 Tips for First Time Home Sellers

It is inevitable that after purchasing your first home, you will one day want to sell it. Now that the new has worn off, you may be ready to move on to a different house. Whether you are wanting to relocate to a new town or find a bigger home for your family, selling at the Lake of the Ozarks can be hassle-free. Take into consideration some of the tips provided by your expert real estate agent in Lake Ozark, MO.

1. Price It Right

The price of a home can determine how quickly it will sell, depending on the current local market. Many homeowners want to get the most money for their home, that way they can easily upgrade in their new space. Overpricing can actually hurt your chances of selling, especially if a number of price reductions will be needed to sell the property.

2. Include Extras

Extra incentives included in the sale of a home can entice potential buyers to act quickly, especially if it is an item in which they are in need. There are a number of ways to sweeten the deal as a home seller. Consider including the washer and dryer or other household appliances in the sale of your house. Sometimes the seller can even offer to pay closing costs associated with the sale, to help encourage buyers to act on the property.

3. Remove Clutter

Often first time home sellers have never prepared a home to sell before. Try to remove unnecessary items around the home. Keeping your home clean when it is for sale, is imperative. You want potential buyers looking at your home to see what a great place it is to live, not notice the dust on the coffee table or the cobweb in the corner. Along with removing clutter, personal items should be taken down. Think of this as a time to prepare for your move. Pack up family pictures and memorabilia that adorn your walls and shelves in order to help buyers envision themselves living in your house.

4. Focus on Curb Appeal

Many potential home buyers will drive by a house before deciding to schedule a showing of it. Ensure your house is appealing from the outside. Keeping your lawn and landscape trimmed can help your home stand out. Also adding an eye-catching item to your front porch, like a colorful flower pot or a fall décor display, can draw attention to the home.

5. Make the Right Repairs

If there is an easy and inexpensive fix that can be made to improve your home, go for it. Some first time home sellers want to make major repairs or even remodel entire rooms before selling. Although this can be beneficial, it does not always work out in the favor of the seller. The return on investment is not guaranteed when doing a big remodel or update right before selling.

6. Detach Yourself

You may be more attached to your home than you realize. It can be easier to get through the negotiation process if you detach yourself from the house you are selling. Keep in mind, there is a reason you are selling and it is time for the next step in your life.

7. Select Experienced Real Estate Agent

When selling your house, the real estate agent you select is a key piece to the success of the sale. Find an agent who will use their marketing strategies to promote your home, for a faster sell. Get to know you seller’s agent to ensure they have your best interest in mind, when listing your house.

Call Today To List Your Home!

If you are ready to move on to the next and sell your home, the tips listed above can help make the process flow smoothly. An experienced REALTOR® in Lake Ozark, MO can help you sell your house successfully. One of the most important parts of selling your house, is your choice in real estate agent. Give me a call at (573) 280-0484 to schedule a consultation to sell your home at the Lake of the Ozarks. 

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484