Category: Orlando Realtors

Buying a home can be a very exciting time for you and your family. Emotions can sometimes try and take over clouding your better judgment.
These emotions can be compared to falling in love in the sense that you can easily overlook some major flaws. As the saying goes… “love is blind”. Then once your mind is set, that red-faced little kid can try and overcome you. “I want it, I want it, I want it!” Don’t let him… he doesn’t pay the bills and once he’s gone, you’ll be the one left holding the bag!
There are many things you need to consider other than the way the home looks and makes you feel. Working with an Orlando real estate agent will help keep your emotions in check.

Here are 7 things to consider before making an offer On an Orlando property

1. Visit the home at different times of the day-
Neighborhoods can have different looks depending on what time of day it is. If you visit during morning hours most people will be at work and kids will be at school making it appear to be a quiet and peaceful neighborhood. By driving by again in the evening, you’ll get an idea of how peaceful or noisy it really is when all the other residents are home doing their thing. Is there a school nearby?

Nearby schools can cause major traffic issues at certain times of the day. Trust me, you don’t want these things taking you by surprise after you move in.

2-Talk to the neighbors-
This is a great way to find out the pros and cons of the area. Is it made up of mostly renters? homeowners? Has anyone been murdered on this street lately? etc.

3- Find out if there’s a Homeowners association-
Depending on the person this could be a good thing or bad. Some people like to have the right to paint their house deep purple and park their tow truck in the driveway. Others…not so much. If there is an HOA, find out how much you’ll be paying.

4- Get A home inspection-
Unless the house you’re looking at buying is brand new, it will have some wear and tear and maybe in need of some repairs. You want to make sure to have the home inspected by a good home inspector. Your Orlando real estate agent should be able to recommend a good one.

It’s important to know what needs to be fixed not only for safety but for negotiating a lower sale price. Some sellers may want to make the repairs themselves while others will prefer to lower the price leaving the repairs up to the buyer.

5- Ask for property tax records-
It’s important to be aware that in some areas property taxes can fluctuate according to appraisal values. That means if the home values go up in that area so will your property taxes. Ask your Orlando realtor to provide you with tax records on the property for the past several years.

6- Ask to see utility bills-
You may love the lake view, glass walls, and vaulted ceilings of the modern homes, but keeping your house cool on those warm summer Orlando days can cause you to exceed your budget. The same goes for watering that humungous lawn every two days. Remember, these are bills you’ll be paying every single month forever until you move or pass away.

7- Get realistic repair estimates
If the house needs some repair work done, don’t just shoot from the hip and guesstimate. Get repair estimates from a few contractors in the area. Unless you’re buying the property with the intent of rehabbing it for an investment, stay away from homes that need major repairs.

1- Why are you selling?

Your first step should be to write down the reasons that are motivating you to sell your home. Are you under pressure because of a new job opportunity? Do you just need more space because there’s a little one on the way?

It’s a good idea to think about what your goals are overall then decide how selling your home will affect your goals either in a positive or negative way. After you’ve determined these things on your own, your Orlando real estate agent will have the knowledge to set a realistic time frame to get your home sold according to your specific needs. This will help you to plan your move accordingly.

2- Set the selling price

After you’ve determined why you’re selling and how much time you need before making the big move, it’s time to decide on a selling price. This is where your Orlando realtor will prepare a CMA [comparative market analysis] on your home which determines a home’s value based on recent sales in the same neighborhood for homes that are similar to yours. After reviewing this report with your agent, he or she will then guide you to getting the highest price that will get your home sold within the time frame you’ve chosen.

Many times it’s a challenge for homeowners to remain objective when it comes to setting a price for their home so try to keep your emotions out of it. It’s always better to price your home correctly from the start rather than setting it high and then lowering it. If your house stays on the market too long because of it being overpriced then you run the risk of potential buyers thinking that there’s something wrong with it causing you to lose even more money.

3- Get your home ready

Time to get your home looking showroom ready! Let’s face it, most of us don’t keep our homes in the condition that it needs to be in to fetch the highest price when selling. Because we live there, many things get overlooked or put on the back burner like that stain on the carpet you’ve been meaning to clean or the caulking in the bathroom that needs replacing. Well, the time has arrived to knock out that long overdue to-do list. Believe it or not, the way your home looks will have a huge impact on how fast and how much it will sell for.

You’ll never get a second opportunity to make a first impression, so make it count. Consult with your Orlando realtor on what should be changed, repaired, removed, or painted before listing the home for sale. The better you’ve maintained your home over the years, the less you will have to do to get it ready.

Be sure that your home is as clean and clutter-free as possible so that it looks as spacious as possible allowing potential buyers to move freely throughout your house. Also, remember to open up those blinds and curtains and let in as much light as possible.

4- Ask your Orlando Realtor about the marketing plan

OK, your home is looking sharp, you know how much time you need to sell it and you’ve established a listing price. It’s now time to list it and start marketing it. Ask your Orlando realtor how they plan to market your home.  It’s your realtor’s job to expose your home to as many qualified buyers as possible.

These days realtors have many different effective ways to market a property to get it sold for the highest price in addition to listing it on the MLS. Some of these ways include social media, videos, flyers, email blasts, open houses, etc.

5- Receiving offers

After a buyer decides they would like to buy your home, they will present a written offer. Before you even see this offer, however, your Orlando real estate agent will have to determine whether or not this buyer is pre-qualified to buy a home. Don’t waste your time if the buyer isn’t qualified.

After receiving a legitimate offer on your home, your agent must review the contract to ensure that it protects your best interest. Make sure to thoroughly review the fine print because once you accept it, it may be too late to make changes to it. The legalities of the contract are very important so don’t hesitate to ask your agent about any concerns you might have before signing.

6- Negotiating the offer

Seldom will you get a buyer to agree to your price without there being some negotiating involved? Your Orlando realtor should have the experience and expertise to negotiate on your behalf.  Your agent should review the written offer with you in detail so that you fully understand what the buyers are offering as well as what they are asking for in return.

Here are some items that are typically negotiated on the sale of a home

1. Listing Price
2. Closing Costs
3. Repairs
4. Fixtures And Appliances
5. Time Frame for Occupancy

7- Preparing for the closing

Once negotiations are over and all necessary inspections have been completed, etc. It’s time to begin closing procedures. Your Orlando realtor should be in constant contact with the Title company to make sure that everything is going smoothly as well as quickly address any issues that may arise. Your agent should also take the initiative to reach out to all parties involved ensuring that all parties are on the same page.

8- The Closing

This is where the ownership of the property officially transfers to the buyer. Your Orlando real estate agent should be present at the closing to help you understand the entire process including the forms that you will have to sign. Be sure to ask as many questions as you need to at the closing table. They are no stupid questions, especially for such an important transaction.

9- After the closing

Your home has officially been sold and you can start initiating the plan to move out. Your realtor should prepare a list of things that need to happen to turn the property over to the new owners. Make sure to cancel all your utilities and services on the home or switch them to the names of the new owners. Turn over all your keys, and garage door openers, and be sure to give them any access codes to the entrance and amenities. Not only will the new owners appreciate this, but it will save you from having to answer a few phone calls when you’re busy moving into your new home.

It was April 21st, 2015, I remember that date because it was the same day that our dog “Jax” turned 1 year old. I had buyer clients that I had been working diligently within finding a home in the Hunters Creek, FL area.

When I eventually showed her what would end up being the home of her dreams, she fell head over heels in love with everything about the property.   The colors reminded her of the home she grew up in, the bonus room was perfect for his home-based business as a Gemologist and the open floor plan was exactly what they were looking for.

After seeing it, we immediately submitted a full-price offer on it.   However, this apparently wasn’t enough for my over-anxious buyers. Against my advice as an experienced Orlando realtor, they insisted on writing a letter to the sellers telling them how badly they wanted the home and why hoping to convince them to accept their offer.  

Whether the letter made any difference in the sellers accepting my client’s full price offer or not… I don’t know. What I can tell is that when it came time for me to do some negotiating for my clients so they can get the best deal possible… there was no negotiating.

The sellers knew how badly the buyers wanted that house and they were about to start using their leverage.   When it came time for inspections, the home was in overall decent condition but did need some minor repairs like new carpeting, and a few screens needed replacing on the back patio deck. Unfortunately, the sellers took full advantage of my client’s emotional attachment to a house that wasn’t even theirs yet. They refused to budge on anything… they didn’t even want to pay for the 1st year home warranty which is only a few hundred bucks.  

Some real estate agents will actually encourage their buyer clients to write a personal letter to the seller of a home to try and get that emotional edge. What they don’t realize is that this could severely cripple them when it comes time to negotiate with the seller.  

Think about it, you’re disclosing information to the sellers that they will almost certainly use against you at the negotiating table. Wouldn’t you if you were in their position?   There’s no denying that buying or selling a home can be a very emotional decision. The problem is that emotion clouds judgment and can cause you to make the wrong decisions, which in real estate translates to losing money.  

As an Orlando real estate agent, It’s my job to get my clients the best deal possible when finding them a house. It’s also my job to keep emotion out when it comes time to negotiate the deal. That’s why I advise all of my buyer clients against reaching out to the sellers on a personal level. It’s not worth the risk of being put into a vulnerable position when it’s time to negotiate.  

The fact is that 99% of sellers are only concerned with their bottom line and a personal letter from someone they don’t know won’t mean anything to them at all. In my opinion, a personal letter only exposes the buyer’s weakness… their emotional attachment to the house.  A buyer’s best bargaining chip is the offer amount. If you want the house that bad and the numbers justify it, then make a full-price offer and leave the personal stuff out of it.

1- Price Your Home High Then Keep Lowering It Until It Sells

Big mistake! Homeowners believe that they can always accept a lower offer. The problem is that you’re missing out on the buyers looking in the price range where yours should be. Also, If you keep lowering the listing price and it doesn’t sell, buyers may think something’s wrong with the house.

Your Orlando realtor will prepare a CMA on your home to help you determine an accurate listing price so you can get it right the first time.

2- Don’t Worry About Small Repairs

Retail buyers just want to move in and start living the Orlando lifestyle. The last thing they want is a to-do list. Buyers that are willing to do some minor repairs will want a price reduction for their trouble. Sometimes even small repairs can also scare off potential buyers.

Take care of these small repairs on your own to get the highest price.

3- Curb Appeal Doesn’t Matter Once They See The Inside

Certain buyers will drive by a house on their own before deciding whether they’re interested or not. If it looks horrible, chances are they won’t even care to see the inside. Some people just aren’t able to see anything other than what’s right in front of them.

Keep the grass cut, trim the trees and shrubs, get rid of clutter, and plant a few bright flowers for a splash of color. You only get one chance to make a 1^st impression.

4- The Inside Doesn’t Matter, Just Make Sure The Outside Looks Good

Having the inside look good is just as important as the outside. Buyers need to be able to visualize living in the house with their things. If your house is dirty and cluttered then the only thing they’ll be visualizing is getting back in their car and going to the next one.

5- Your Home Has To Be Perfect Before Listing

Don’t get carried away with home improvements or upgrades when your intention is to sell. Just because you spend $30,000 on a pool doesn’t mean that you’ll get a return on that investment, especially if your home is the only one with a pool in the entire neighborhood.

Your Orlando real estate agent can advise you on what improvements you can make that are worth making before listing the home.

6- Your Better Off Selling Without A Realtor

90% of Orlando homeowners that set out to sell their house on their own, ultimately end up hiring an Orlando realtor to get the job done. Sellers that do sell on their own end up making less money from the sale mostly due to their lack of negotiating experience.

7- Sellers Should Give Buyers The Tour Of Their Home For A More Personal Touch

It’s hard for a potential buyer to envision a home being theirs if the homeowners are present during the showing. As a matter of fact, it makes them downright uncomfortable.

You should have enough trust in the Orlando real estate agent that you hired to look out for your home during showings. However,  It’s always a good idea to put away expensive jewelry and prescription medicine when your house is being shown.

If you’re interested in seeing how much your home will sell for, feel free to call us at 407.902.7750 or visit https://orlandorealtyconsultants.com/ to receive a free CMA report prepared by one of our Orlando listing specialists.