Real Estate Resources
Top 10 Home Seller FAQs
The Experts At The Rozansky Group Offer Answers To Home Seller Questions
If you're thinking about selling your Bethesda, MD or DC area home or condo, you likely have many questions about the process. Whether this is your first time selling a home or your fifth, there are many things to consider that vary depending on the property.
We've compiled the top 10 FAQ's from home sellers in the Bethesda - DC Metro area for you here. With our local knowledge and real estate experience, we can bring insight to home selling and guide you through the entire process.
1. When Is The Best Time To Sell My Washington DC Area Home or Condo?
The best time to sell your home is when you are ready or when you need to. Generally, spring is the most active, September-November is the second busiest, and July/August and the holiday season are the slowest.
2. How Healthy Is The Current Bethesda & DC Real Estate Market?
There are many factors that determine the health of a local real estate market. A Rozansky Group REALTOR will be knowledgeable about the current market conditions in your Bethesda or DC Metro neighborhood, and will be able to provide valuable information to help you sell your home. One of the factors will be average days on market. Knowing the average number of days on market indicates how quickly homes are selling.
3. How Much Is My Washington DC Metro Home Or Condo Worth?
This is an important frequently asked question from home sellers. Pricing your home or condo appropriately can mean the difference between a quick sale, or your home languishing on the market. A local DC area REALTOR is the best person to determine your home's value. At The Rozansky Group, we provide an easy tool for home sellers to find the value of their home.
4. How Is The Value Of My Home Determined?
REALTORS use a handful of methods to determine a home's market value. The most common method for a REALTOR to determine the value of a home is by doing a Comparative Market Analysis or "CMA." This process provides an in-depth evaluation of comparable homes sold in the past 6-12 months locally.
A CMA completed by a real estate professional will consider both features of the home and the neighborhood. These may include:
- Square Footage
- The Homes Age
- Number of Bedrooms and Bathrooms
- Kitchen Upgrades
- The Quality of the Windows
- The Age of the Roof
- The Homes Lot
5. Can I Figure Out How Much My Home or Condo Is Worth From A Website?
There are real estate websites that give an estimate of the value of homes. This may seem like an easy way to find the value of your home, but these home values are determined by algorithms and not by a local real estate expert. Often, the value provided by real estate websites such as Zillow or Trulia are incorrect. Pricing a home based on the amount given on a national website could cost a home seller valuable time and money. The best way to determine the value of your home is to contact a local real estate expert for an in-depth market analysis.
6. What Is The Difference Between The Appraised Value and the Market Value?
Lenders require an appraisal of the home. A certified appraiser establishes the appraised value, and the fees for this service are paid by the buyer.
The market value is the actual price a house will bring on the real estate market. A Rozansky Group real estate expert can perform a Comparative Market Analysis (CMA) to determine the market value based on comparable sold properties.
7. What Do I Need To Do To Get My Home or Condo Ready To Sell?
This is an excellent question! If you do not properly prepare your home for sale, you could be at a significant disadvantage. As you prepare to sell your home or condo, think about the first impression buyers will get as they enter and walk through the home. This first impression could be the difference between a buyer making an offer or leaving uninterested.
Part of preparing your home should include:
- Removing excess clutter
- Freshly painting rooms
- Installing new floors, or making sure existing floors such as carpeting are clean and odor free.
For more valuable help on preparing your DC home for sale with staging, take a look at our excellent resource on Home Staging.
8. What Do I Have To Disclose To Potential Buyers?
If you know of any defects with the appliances, roof, or any part of the home, you need to be upfront and honest. This will avoid potential issues during the sale, and any lawsuits once the home is under contract, after an inspection, or for years after the sale. Fixing any issues before you put your home on the market is best.
9. What Are Contingencies?
A sales contract can contain several "contingencies." These are stipulations that a sale is subject to. Both home buyers and sellers may have contingencies in the sales contract.
Some common contingencies include:
- The seller has a financing contingency, meaning if the buyer cannot obtain financing within a certain time frame, neither party is required to complete the purchase.
- "Subject to" which specifies provisions for termites or other issues found during inspection.
- The buyer may have a contingency to sell a current home first.
10. What Do I Need To Do While My Home Is For Sale?
When you hire a Rozansky Group real estate professional, we help you through every stage of the home selling process. However, you do have an important role in the sale of your home. Here are some ways to contribute to the successful sale of your home or condo:
- Maintain: keep up the appearance of the property
- Be Accessible: make sure the property is easily accessible for showings
- Communicate: make sure your REALTOR can get in touch with you
- Secure: valuables and pets need to be locked up or removed during showings
As you can see, there are many things to consider when selling a Washington DC Metro area home or condo. To learn more about what makes The Rozansky Group an excellent choice for area home sellers, check out our valuable Home Seller resources and contact us at 301-656-7700. We are dedicated to helping Washington DC Metro area home and condo sellers throughout the entire process.