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Should Sellers Get a Home Inspection to Help the Mortgage Process Along?

Today’s Ask the Expert column features Dan Steward, President of Pillar To Post Home Inspectors.

Q: Should sellers get a home inspection to help the mortgage process along?

A: If you’re a seller, it behooves you to get your own home inspection prior to putting your house on the market. But why spend money on one when the buyer will surely get their own?

Buyers that see a recent home inspection along with the listing sheet already realize that the asking price of the home is likely justified. They can rest assured that there are no scary surprises waiting for them upon closing. And you can hasten an offer by having that report right in front of serious buyers when they’re considering putting in an offer.

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5 Simple Ways to Stage the Exterior of Your Home Before an Open House

By Charles Muotoh

If you’re selling your home, chances are good you’re familiar with the concept of staging your home. Real estate agents recommend your home look its best to prospective buyers, and home staging is a great way to ensure you receive top dollar. But did you know you should stage the exterior of your home too? Failing to update the look of your home’s exterior can cause buyers to get a bad first impression when they initially arrive to view your home.  Whether your audience are luxury home buyers or you are selling your starter home, staging the exterior of your home will have a major impact in the sale of your home.  If you want to put exterior home staging to work, here are five elements you should consider tweaking.

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Study: FSBOs Net ‘Significantly’ Lower Profits

Frustrated Trying to Sell Your Home By Yourself…?  Read This Article Then Ask Us How We Can Help

For-sale-by-owners tend to sell their homes for lower prices than homes sold through traditional agents via the MLS, and in many cases below the average differential represented by the prevailing commission rate, according to a new study by Collateral Analytics.

The study examined the price differences between homes sold through traditional agents versus those sold by FSBOs from 2016 to the first half of 2017.

Some homeowners may be tempted to try to avoid commission costs to a broker and try to sell the home on their own. But that can backfire and turn into a much lower sales price, the study found.

Even successful FSBO sellers achieve prices “significantly below” those from similar properties sold more traditionally via REALTORS®, the study found.

The authors found that the differential in selling prices for FSBOs when compared to MLS sales is “remarkably close to average commission rates.” A FSBO sale, on average, nets nearly a 6 percent lower price than an MLS sale for a similar property.

“Assuming that both buyers and sellers pay the commission, one might have expected something less than this average,” the researchers note. “It appears that many sellers are avoiding commissions while netting home prices less than they would with an agent-represented MLS sale. They are avoiding commissions at any price, even one that exceeds a commission rate.”

Source: “Saving Real Estate Commissions at Any Price,” Collateral Analytics Research (Aug. 16, 2017)