Selling Your Pikes Peak Home

1. Manage Your Showings

The time has come for selling your Pikes Peak home.

As you prepare to sell your property, it is important to carefully select a reputable real estate company and agent to assist you throughout the process. While you anticipate the satisfaction of seeing the “SOLD” sign on your curb, it is essential to keep in mind the various considerations involved in the selling process.

When selling your Pikes Peak home, home staging is an essential skill that sets us apart from other real estate agents. We can help prep and stage your house and assist you with setting a price. Once these steps are complete, you are ready for the public to see your home for sale.

What is a Showing?

When selling your Pikes Peak home, what is a showing?

Showing: Prospective buyers can view a property during an open house, which is a scheduled event that allows walk-ins without an appointment, or by scheduling an appointment with the listing agent or yourself.

Showing Your Pikes Peak Home: How to Prepare

At The Q Group, we love when our clients take advantage of our complimentary home staging services.

Positioning your home competitively is essential when selling your Pikes Peak home. Let us be your source for home staging suggestions!

There are two phases when prepping for a showing. During phase one, before photos are taken and before the first showing, we suggest you:

  • * Make major repairs – if needed and in your budget, such as replacing your counters or appliances.
  • * Paint some or all of your house.
  • * Clean deeply.
  • * Do minor repairs such as caulking tubs and windows.
  • * Stage your furniture to showcase your home’s best features.
  • * Declutter every surface and storage space.
  • * Reorganize your closets and pack excess items.
  • * Remove personal items such as family photos.
  • * Power-wash your decks and sidewalks if needed.
  • * Upgrade your lighting or light bulbs to make your rooms brighter.
  • * Add a color scheme with rugs or pillows if needed to warm up your home.
  • * Power-wash your decks and sidewalks if needed.
  • * Spruce up the landscaping.
  • * Eliminate odors by cleaning the fireplace or pulling out musty rugs.

Showing My Home: What to Expect

When selling your Pikes Peak home, there are three important things we recommend you do to help get your house sold:

  1. 1. Buyers prefer to be able to move around freely with no one else in the home. Leaving the house unoccupied during a showing is essential.
  2. 2. Availability is another key consideration. Be ready to show your home during what seem to be inopportune times, such as during dinner or on weekends. Otherwise, you risk eager buyers crossing your home off of their lists.
  3. 3. Take all feedback seriously. Whether from buyers or agents, an outside opinion can be the difference between selling your home tomorrow– or months from now.

Remember, always coordinate with us for maximum exposure and a faster sale.

2. Selling Your Pikes Peak Home: Review Your Offers

Congratulations! You have received an offer through your agent. The next step in selling your home is to evaluate the offer and form a response. Here’s what you need to know about this phase of selling your home.

What is an Offer?

When selling your Pikes Peak home, what is an offer?

The potential buyer presents a purchase agreement, outlining their offer to purchase your home. Furthermore, the agreement includes the following key details:

  • * The proposed purchase price.
  • * Information on the buyer’s payment method, including cash or a pre-approved financing option.
  • * Specific terms and conditions, such as requests for closing cost assistance or contingencies, such as the sale of the buyer’s current residence, final mortgage approval, a successful home inspection, and appraisal.
  • * A proposed closing date.
  • * A deposit of earnest money.
  • * A specified time frame for acceptance of the offer.

Offers: How to Evaluate

After an offer is received for selling your Pikes Peak home, you and your agent should review it and consider whether you want to accept it. Whether you have one offer or several, you and your agent will look at:

  • * The offer amount.
  • * Any included or waived contingencies.
  • * Where the funds are coming from, such as all-cash, a reputable local lender, a well-known online lender, or an unknown out-of-town lender.
  • * The estimated closing date and date of possession of the house to see if it meets your needs.
  • * Any special requests for items to convey or for special inspections.

Multiple Offers: What to Do

It isn’t uncommon to receive multiple options around Pikes Peak and Colorado Springs. If you receive multiple options, you have a few options to discuss with your agent:

  1. 1. Accept the best offer. If an offer stands out above the rest, you can accept that one right away. A word of caution: be careful not to be swayed by a high offer if the financing seems uncertain or if the buyer hasn’t explained a plan for a possible low appraisal.
  2. 2. Counter all the offers to get a better price and/or terms. You can ask all potential buyers for their best offer by a certain deadline.
  3. 3. Counter one of the offers close to what your terms. If you like one offer but think the buyers could do a little better, you can send them a counteroffer to see if they’ll accept it.

You and the buyers should negotiate until you both agree on the final contract. At The Q Group, we are your best ally during the negotiations and is equipped with the data and knowledge to guide you.

3. Prepare for Your Inspection

When making an offer, most home buyers will request a home inspection. The preparation you made before your first showing will go a long way toward getting you ready, but a home inspector will dig more deeply than a home buyer. Lean on us s your agent for personalized advice, specific to your situation.

What is a home inspection?

What is a home inspection?

home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings.

The client then uses the knowledge gained to make informed decisions about their pending real estate purchase. The home inspector describes the condition of the home at the time of inspection but does not guarantee future condition, efficiency, or life expectancy of systems or components.

Sometimes confused with a real estate appraiser, a home inspector determines the condition of a structure, whereas an appraiser determines the value of a property. (source)

Home Inspection: What is Looked At

The home inspector will check:

  • * Roof condition;
  • * Structural conditions such as the foundation, beams and floors;
  • * Electrical systems such as grounded outlets and code violations;
  • * Plumbing – for leaks, rust and water pressure;
  • * Mechanical systems such as heat and air conditioning;
  • * Safety issues such as stairs, handrails, mold or chimney maintenance;
  • * Appliances – to make sure they’re working, although some inspectors skip appliances that are not built-in.

The Home Inspection: What is Ignored

On the other hand, a home inspector will not check:

  • * Underground pipes and sprinkler systems;
  • * Septic systems;
  • * Swimming pools and spas;
  • * Wells;
  • * Playground equipment.

Home Inspection: How to Prepare

We recommend performing these tasks before your home inspector arrives:

  • * Make sure everything is accessible, including your attic, a crawlspace, your garage and any sheds.
  • * Make sure all your light bulbs work.
  • * Remove or crate your pets.
  • * Clean your house.
  • * Provide documents about maintenance and repairs.
  • * Leave your cell phone number for the inspector.
  • * Leave a note if anything doesn’t work and explain that you’re getting it fixed.
  • * Leave the house.

Home Inspection: What Happens Now

Once the home inspection is completed, an inspection report will be created. At this point, you and your agent can discuss how to handle any possible issues the buyers mention.

Possible solutions include negotiating with the buyers, deciding to fix an issue, providing money for the buyers to fix it themselves or to provide documentation that the problem has already been addressed.

At The Q Group, we have the knowledge and experience to walk with you throughout any complications in the home inspection process. It is important for you to find a KW agent that is able to do the same for you.

4. Prepare for Your Appraisal

Your home appraisal is the last test you will need to pass when selling your Pikes Peak home. We help ensure all our clients gather everything they need to prepare for the appraiser’s home visit.

What is an appraisal?

As a safeguard for the buyer, an appraisal provides a professional evaluation of the value of a specific item, property, or asset.

Qualified and trained professionals, known as appraisers, conduct appraisals to determine the value of a home. The lender employs the appraiser, but the buyer covers the cost of the appraisal.

The real estate appraisal process includes inspecting the property, analyzing comparable sales in the area, and assessing the property’s condition and features.

During a home appraisal, the appraiser conducts an inspection of the property inside and out. They evaluate factors such as:

  • * Size and layout of the home;
  • * Condition of the home and its systems;
  • * Any upgrades or renovations made;
  • * Any special features that may affect the value, such as a pool or a large lot.

Additionally, the appraiser conducts a market analysis, also known as a “comparable market analysis” or “comps,” to determine the value of similar homes in the area that have recently sold.

They consider factors such as:

  • * Size;
  • * Age;
  • * Condition, and location of similar homes for a price comparison.

They also take into account current market conditions, such as the local economy, job market, and home price trends.

With the gathered data, the appraiser uses it to estimate the value of the home.

Prepping for an appraisal is quite similar to preparing for an inspection:

  • * Clean your house;
  • * Remove or crate your pets;
  • * Provide full access to all rooms and spaces, including the garage, sheds, attic and crawlspace;
  • * Provide a list of all major improvements to the home and the age and condition of your roof, heating and air conditioning system, and appliances;
  • * Provide any permits required for home improvements;
  • * Leave the house, or at least stay out of the appraiser’s way.

We will help make sure you are properly prepared for your home appraisal, so lean on us with any questions you may have.

The appraised value of a home can affect a home sale in several ways. If the appraised value is higher than the sale price, it can make the sale more attractive to the buyer, as they may be able to obtain financing for a larger amount.

However, if the appraised value is lower than the sale price, it can make the sale more difficult as the buyer may not be able to obtain financing for the full amount of the sale price, or the seller may need to lower the price to match the appraised value.

Additionally, if the appraisal came back lower than the agreed sale price, it can also affect the negotiation process between buyer and seller.

Depending on how the contract was written, if the appraisal was low, you can:

  • * Cancel the contract;
  • * Reduce the price to the appraised value;
  • * Split the difference with the buyer;
  • * Ask the buyer to come up with extra cash to make up the difference between the loan amount and the purchase price.

Don’t forget– we’re here to help advise you on your options in the context of the contract and market conditions.

5. Selling Your Pike Peak Home: Closing

As a seller, it may be tempting to focus on your next move, but it is important to remember that until the closing process is completed, you have a few final responsibilities to fulfill.

Your Keller Williams agent will remind you of this and ensure that you meet them.

What is a closing?

The home closing, also referred to as a settlement, is the final step in the home buying process. It involves a meeting where the legal transfer of ownership of the property is completed, finalizing the sale.

During this meeting, the buyer and seller, or their representatives, will actively sign all necessary documents to transfer ownership of the property from the seller to the buyer.

These documents include the purchase agreement, the deed, and any other relevant paperwork.

Additionally, the buyer will also make any remaining payments for the purchase of the home, including the down payment and closing costs.

Once all the paperwork is signed and the funds are exchanged, the sale is officially completed and the property belongs to the buyer.

Before closing day you will want to:

  • * Attend to any repairs outlined in the contract.
  • * Organize receipts, invoices, and before-and-after photos of any repairs done.
  • * Collect appliance manuals and warranties for the new homeowners.
  • * Arrange for professional movers.
  • * Schedule disconnection of utilities for the day after you move out.
  • * Update your mailing address.
  • * Review all closing documents, particularly the settlement statement.
  • * Confirm the accuracy of the property survey.
  • * Clean the house thoroughly.
  • * Get ready for the buyers’ final inspection before closing.

Sellers may or may not attend the closing, so you should consult your agent and the settlement company to decide what’s best. You can sign all documents before the official closing.

Sellers’ expenses, which are deducted from the proceeds of the sale, include:

  • * Final balance on your mortgage;
  • * Real estate commissions;
  • * Prorated property taxes, utility bills, homeowner’s insurance, and homeowners association dues.

The buyers will conduct a final walk-through of the property within 24 hours before the closing to ensure that it is in good condition.

If any issues are found, your agent can assist you in determining the best course of action. Regardless of whether you attend the closing or not, you will need to provide the buyers with the keys to the house, as well as any codes or keys for the alarm, garage remote, and mailbox or gate.

Upon the completion of the closing, you will:

  • * Obtain the funds from the sale, typically through a wire transfer;
  • * Terminate your homeowner’s insurance coverage as of the closing date to ensure coverage until that day;
  • * Retain your closing documents and records of any home improvements for tax purposes.

Congratulations! You can finally share joy with your real estate agent as you have successfully sold your home.

Contact Us
theresa@qgrouprealestate.com (719) 331-8524