To sell your home, you’ll need more than ads and signs. You need a proven strategy for attracting the best buyer to your home. As your GMAC Real Estate sales professional we can offer you just that with the exclusive HomeMarketing System™. This systematic approach to selling your home is designed to help you obtain …

The best possible price for your home …with the most favorable terms …in the shortest period of time …with the least inconvenience to you.

Making it easier on yourself

We can help you sell your home more quickly and easily by:

• Implementing the proven Home Marketing System.
• Accessing an established local networkand the GMAC Global Relocation Services.
• Helping you set the right price on your home to attract the right buyers and the sales professionals who work with them.
• Gathering data that will present your house and neighborhood in the best light.
• Targeting the market where the most likely buyers will be.
  Handling calls from people who may be more curious than serious about buying.
• Showing your home to the best prospects.
• Representing you during the offer process.
• Doing the necessary paperwork and legwork.
• Guiding you through settlement.
  

Listing with Us

A listing agreement is one of several types of contracts in which you hire a real estate firm to find a ready, willing and able buyer for your home in exchange for a set fee.

Exclusive-right-to-sell:

o With an exclusive right-to-sell agreement,the seller pays a fee regardless of who produces the buyer. This fee covers many important services that we provide that go above and beyond finding a qualified buyer.

Note: Your home will also be included in three multiple listing service (MLS) as part of our exclusive listing. MLS gives your home greater exposure in the marketplace.

Starting with you

Before the yard sign goes up, we will do some homework— and it makes all the difference. With the Home Marketing System, we’ll combine your knowledge of your home with the expertise of our professional real estate skills to make sure we attract the best buyer.

Gather the facts

Buyers want to know details; having the answers is a powerful sales tool. We will use the information you provide to answer questions, create an advantageous listing and create an exciting marketing campaign that targets the right kind of buyer. Help us by collecting or providing the following information:

• The legal description of the property.
• The number of rooms and their sizes.
• A list of things not attached to the house that you’re offering for sale, such as window treatments, carpet, fixtures, swing sets, etc.
  Past utility bills, property taxes and insuranceI
• nformation about your mortgage,including the type, terms and assumability.
• Financing assistance, potentially through your own lender.
  Any liens against the property.
• If you live in a condominium or own house, include a copy of theassociation’s declaration, bylaws, and financial statement, monthly fees and special assessments.
• Special items or improvements about the house. (Point out things that may not be apparent on a walk-through.)
• The positive points about your neighborhood, such as demographic information and proximity to services, shopping, schools and other areas.
• Any defects that aren’t apparent. (You should inform MountainHomeQuest about defects so a buyer can be informed.)
  

Setting the price

Before you set an asking price for your home, We will complete a Home Market Analysis. Using this process, we will establish a realistic and ambitious listing price and increase the percentage of qualified buyers who look at your property. When setting a realistic fair market value of your home, you’ll want to consider a few points:

• Don’t base your asking price simply on what you paid for the home. You may be asking too little or too much.
• Determine how much time you have in which to sell your home. If you must sell quickly, we may suggest a more competitive price; if you have some flexibility, you may choose a slightly higher price.
• We will provide you information on recent sales of comparable homes in your area.
• Don’t price your home too high as a means of making more profit. You will lose a large pool of eligible buyers who won’t even look at your home because they can’t afford the price. Likewise, you’ll disappoint those buyers who can find more house for their money elsewhere.
• The value of your home is based on the buyer’s perception of that value, rather than the amount you originally paid for the house.

Our Home Merchandising System™will offer tips on how to make your home even more appealing to buyers.

Merchandising your home

As you prepare your home to be shown to prospective buyers, you must look at your home through a buyer’s eyes. With our HomeMerchandising System, we can help you spot the little things that buyers will notice — things they might otherwise use to try to negotiate a lower price. Ask us for brochures about how to merchandise your home.

Here’s a sample:

• Unclutter all areas of your home to create an impression of spaciousness.
• Clean everything thoroughly. Ask a friend to help you assess your efforts — especially in sensitive areas such as odor removal
• Neutralize your home by making any improvements in neutral colors that appeal to any decorating scheme.
• We have helpful decorating information available — ask for tips.

In the yard

• Keep the lawn well-trimmed and edged.
• Keep shrubs and trees trimmed.
• Put away lawn equipment, toys and other outdoor items. Stack firewood neatly.
• Repair and paint or stain fences.
• Check exterior surfaces. Make repairs, clean or paint as needed.
  Clean, paint and repair or realign gutters
• Fix broken windows and screens, then wash. Wash down the exterior of the house,driveways and sidewalks. Fix holes in pavement.
• Check the roof and repair loose shingles or flashing.
  Make sure the entry light and doorbell work. Replace house numbers and welcome mat as needed. Paint, stain or clean the door if needed.
• Brighten your landscaping with moveable, potted flowers.

In the home

• Discard all unused items to reduce clutter.
• Arrange clothes neatly in closets. Limit storage on the floor and overhead shelves.
• Leave kitchen countertops as clear as possible. Clean and organize cupboard interiors.
• Check walls for smudges, chipped paint and torn or loose wallpaper. Make repairs and paint surfaces in neutral colors
• Clean and organize the basement, attic and garage.
• Launder window treatments and carpets.
• Replace worn, stained or smelly carpeting.
• Tighten loose doorknobs, switch plates, cabinets, drawer pulls and the like.
• Fix sticking doors and windows, and squeaking floors and steps
• Fix leaky faucets, and remove water stains.
• Repair or clean caulking on tubs and sinks.
• Replace all lights with higher wattage bulbs and open all drapes
• Arrange furniture to give an impression of spaciousness in each room.

Showing your home

We will try to give you as much advance notice as possible for a showing, but always be ready to show your home._ Ask us if you should have an open house, usually scheduled for a weekend afternoon.

Consider hanging a lockbox on your door o allow licensed sales professionals to show our home when you’re not there.
Take the name and number of all drop-in buyers and refer them to us

When your home is to be shown

• Turn on all your lights, including the outside entrance, even during the daytime.
• Turn off the TV.
• Ask a friend to keep pets, especially during your open house
• Put out fresh flowers, your best towels, a nice table cloth and other accessories.
• Try to leave when the sales professional brings a buyer over, so the buyer feels free to ask questions or to linger. If you stay, be polite but let the sales professional handle the questions.

An offer to buy

We will help you carefully review the offer to purchase submitted by the buyer. It tells you the price the buyer is willing to pay and under what conditions. This offer is the most important document of the sale. We will act as your representative. Once you and the buyer sign it, it becomes the contract of sale.

Your options

• Accept the terms with no changes and sign the offer.
• Make a counteroffer to the buyer by making some changes. Many counter offers may take place before the final agreement is signed.
• Reject the offer entirely.
• Sign a binder, if applicable in your state.
  The binder is a more detailed contract that sets forth the major terms and is signed by both parties.
• Once you’ve signed an offer, you may accept a backup offer if the buyer clearly understands the house is under contract.

Price

• Decide on a price. We will estimate your proceeds — the sale price minus fees, taxes and insurance.
• Don’t be concerned if the offer is your asking price. It doesn’t mean you underpriced your home, but rather that you priced it right.
• If the price is less than you wanted, look at the contract as a whole. Perhaps the buyer is assuming some of the closing expenses you expected to pay.
• Consider splitting the difference if you and the buyer come within about $1,000 of eachother. Remember time on the market is an additional expense.

Earnest money

An earnest money deposit will be held by a third party until an agreement is reached between you and the buyer. At that time, the money is usually credited to the buyer and applied to the down payment. Until you accept his or her offer, the buyer may withdraw the offer and get the earnest money back. On the other hand, if the buyer fails to follow through with the contract once it’s accepted, it is customary for the earnest money to be forfeited to the seller.

Property title

As part of the contract process, you must prove to the buyer that you have a clear title on the house — that you own the property, and there are no legal claims against it.
Through a title search, proof is provided.
The insurance company may search the title through the owner’s policy of title insurance. Either the buyer’s insurance company or your own may conduct this, depending on the buyer’s preference of company.

The abstract of title is a condensed history of a title to a property and a certification bythe abstractor that the history is complete and accurate.
The certificate of title is reviewed by an attorney who searches the title and issues an opinion that the title is clear.

In some parts of the country, the Torrens system is used as a means of registering property. At closing, the duplicate Torrens certificate of title is turned over to the buyer.

Property deed

Be prepared to convey the property with a deed — a legal document that transfers the title (or ownership rights) of the property to the new owner. Most buyers will require a general warranty deed, in which you guarantee that no one will bring a claim against the title.

Conditions

Review the contract for the special conditions under which the buyer is offering to buy your home. A common condition is one in which the purchase of your home is contingent on the buyer selling his or her old home. The conditions may also be more specific, such as asking you to provide a survey of the property.

Provisions

Read the fine print in your contract to understand the provisions (or ground rules)of who pays for what in the context of the sale. For instance, the contract should explain who is responsible if there’s damage to the house after the contract is signed. The responsible party will want to insure the property through the transition. You or the buyer may add special provisions to the standard ones.

Sale specifics

Double-check the list of everything you intend to sell that is included in the contract and make sure it is accurate. This list may include items such as fixtures, window treatments or appliances.

Closing and possession

The buyer and sales professional arrange the settlement and select the settlement agent, with your approval. The person who handles the closing may be a broker, lender, title insurance company, escrow company or attorney.

Frequently, closing is dictated by the necessity of the buyer in arranging financing, usually a period of 30 to 60 days.

Look over any terms in the contract that state when the buyer will take possession. If you aren’t moved out by that date, you are often obligated to pay rent to the buyer.

We can help you line up any of the paperwork that the contract has called for you to supply, such as the title insurance or a survey.
Expect the buyer’s lender to send an appraiser and a surveyor to check your home.

Notify your lender that you will be paying off the mortgage and ask for a statement of what you owe. Your outstanding balance will be subtracted from the amount you’d receive from the seller. (Any penalty for paying off the mortgage early will also be subtracted.)

Have fix-up work done according to the contract so that final inspections may take place.

Gather all warranties and instruction books for your home’s appliances or major systems to give to the buyer.

Once you have a closing date, notify the utility, telephone, water, trash and other services to advise them of your final billing date. Utility companies should make final meter readings on the day of closing.

Settling up

Prior to closing, your buyer may wish to make a final inspection (or walk-through) to see that the home is still in good condition.
We will go over the closing costs before closing. This document is known as the closing statement or settlement sheet and will contain most of the charges you’d be asked to pay.

You may pay a loan discount fee or service fee. This fee — or points — is a percent of the mortgage amount and charged by the lender to adjust yield to reflect current market interest rates. For VA guaranteed loans, the seller pays the points. Otherwise, they’re a negotiable item.

Depending on your area and your negotiations, you might pay for charges related to the title such as title insurance or attorney’s fees.
T he buyer will likely pay the fee for recording the mortgage, while you may be asked to pay the transfer fee and the deed recording fee. Other fees, such as settlement agent fees, document preparation, notary services or warranty coverage, are charged for preparation of closing. We will discuss which fees you will be responsible for on closing.

Typically, you as the seller will pay our fee. If two brokers are involved, the fee is divided between them. Your listing agreement will spell this out.

After the balance you owe on your mortgage is subtracted from your proceeds, as well as any early payment penalties if applicable, you also may pay a small charge to have the title cleared.

You will typically be responsible for paying your prorated share of property taxes and hazard insurance until the date of settlement. If these charges have been paid from an escrow account, you may still have money in your account. Or, if the charges have already been paid in advance, you may receive money back from your lender.

Closing activities

Closing may involve more than one settlement activity: closing the property transaction, the buyer’s loan and possibly your mortgage.

Depending on your local customers, you may attend a closing meeting. An escrow agent may complete the entire transaction.Or, you may be part of group meetings in which you, the buyer, your sales professionals, attorneys, the lender’s representatives and the settlement agent meet together or separately.

Any issues or questions should be resolved by this time so that both parties can simply review and sign each document.

You will sign over the deed to the buyer to convey the title to the property. You should also review the final version of the settlement statement to be sure it is in order.

Finally — it’s the moment you’ve waited for! At the settlement meeting shortly thereafter, you’ll turn over the keys to your house —and be given a check you can take right to the bank.

Terms to know

Abstract of title: A history of ownership of a property and any documents that affect the title during that ownership.

Appraisal: An opinion by a licensed real estate appraiser about the fair market valueof a home.

Broker: A person who has a real estate broker’s license, who not only makes realestate transactions for others in exchange fora fee (or other consideration), but also operates a real estate business and employs sales professionals and other brokers.

Buyer pool: The entire market of prospective home buyers in a specific area or looking fora type of home.

Clear or marketable title: A title that does not have any liens or claims against it that would keep it from being transferred, put the buyer in a position to sue for property rights or be obligated for claims.

Closing or settlement: The contract of sale.

Deed: The legal document that is used to transfer the title from one owner to another.

Earnest money: Money deposited by a potential buyer to show his or her seriousness about buying.

Equity: The amount of ownership that one has in a home. Equity is the sale price minus selling costs and the remaining mortgage principal.

Exclusive agency listing: A listing contractin which the agent has the sole right to sell your home for you, though you are notbound to pay the commission if you produce the buyer.

Exclusive right-to-sell contract: A listing contract whereby the real estate broker has sole right to sell and receives a commission, regardless of who produces the buyer.

General warranty deed: The type of deed considered to provide the most protection to an owner, since the seller guarantees tha the or she is the true owner of the propertyand that no claim will be brought against the property.

Listing contract: A contract with the broker or firm you hire to represent you in the sale of your home, according to the terms of the sale that you specify. In exchange for producing a ready, willing and able buyer for you, the sales professional is paid a commission.

Multiple Listing Service (MLS): A networking system, frequently on computer,in which a number of real estate firms share information about their clients’ houses that are for sale.

Offer to purchase/purchase offer/earnestmoney agreement/contract of purchase/deposit receipt: A document that lists the price, conditions and terms under which thebuyer is willing to purchase the property.

Offer to purchase and acceptance/contractof sale/sales contract: An offer of purchase that has been signed by both buyer and seller. A firm contract that outlines all detailsof the property transaction.

Open listing: A listing contract in which you hire more than one firm or person to sell your home, and only the one who produces the buyer is entitled to the commission.

Realtor: An active member of a local boardof realtors. Local boards are affiliated with the National Association of Realtors.

Title: The right to ownership in real estate ,which is transferred by a deed.

Title search: Checking all the records relating to the title.

Title insurance: Insurance, usually paid through a single premium at closing, thatinsures the owner against loss because of a claim against the title that was not found inthe title search.

The Smart Move to Make GMAC Real Estate. Our approach is to simplify the process of homeownership and provide you with all the services needed to do it.

• Exclusive real estate services bring youmore value and expertise.

• Global relocation services move you toany destination.

• Trusted financial services add one-stopconvenience.

Your source for North Georgia Real Estate...Laronda McCurley

404.313.5886 lmccurley@ellijay.com This information may contain errors and is not guaranteed. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The above information is believed to be accurate but is not warranted. Information presented is subject to errors, changes, omissions, prior sales and withdrawals without notice.