Frequently Asked Questions for Sellers

1. Why use Leo Lawrence Real Estate when selling my home?

2. How much is my home worth?

3. What will I pay?

4. What is a 'closing' and what are closing costs?

5. How do I get my house ready to sell?

6. How will you advertise my home?

7. What are disclosures?

8. Do I need an attorney?

 

 

1. Why use Leo Lawrence Real Estate when selling my home?

When selling your home, Leo Lawrence Real Estate can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties, as well as recommend repairs or cosmetic work that will significantly enhance the salability of your property.

We market your property to other real estate agents and the public, and know when, where and how to advertise your property. The National Association of REALTORS®® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts.

Our agents can help you objectively evaluate every buyer's proposal without compromising your marketing position, and help you write a legally binding, win-win agreement that will be more likely to make it through the process of appraisals, inspections and financing, as well as the closing of the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Leo and his staff will help you resolve these issues and move the transaction to closing.

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2. How much is my home worth?

There are a number of factors that determine the value of a home, including location, local sale prices, market conditions and interest rates. Leo Lawrence Real Estate will evaluate your home’s size, features, location, and sales of comparable homes in your area. We will then discuss your needs with you, such as how much you owe on your current mortgage and the timeframe in which you would like to sell, and recommend a starting price for your home. You, as the Seller, will always have the final say in the pricing of your property; we will assist you as much as possible in determining a successful asking price for your home.

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3. What will I pay?

Typically, the Seller pays a commission to both the Buyer’s and Seller’s agent as part of the Residential Sale Contract. The Seller must also pay any closing costs charged by the title company for the Seller’s closing only. Obtaining and paying for a gas appliance inspection and any repairs negotiated in the contract are the responsibility of the Seller. The Buyer will pay for all other home inspections and their own closing costs.

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4. What is a 'closing' and what are closing costs?

A closing is the exchange of deed for the purchase price. At this time, the Seller signs all documents required to convey the property to the Buyer and receive the proceeds from the sale. Closings are usually held at the office of a title insurance company. The Buyer and Seller are not required to close at the same title company, and usually the Buyer closes first.

The Seller’s closing costs consist of any costs charged by the title company and the Buying and Selling Realtor’s commissions.

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5. How do I get my house ready to sell?

With millions of dollars in closings, Leo Lawrence Real Estate has extensive information designed to assist you in preparing your home for sale. Our free, no obligation DVD, “Dress Your House for Success” is a helpful resource in getting you started. Give us a call or email us to receive your free, no obligation copy of “Dress Your House for Success”. Our agents will also visit you in your home to help you prioritize any repairs or cosmetic enhancements, to ensure you receive top value for your home. When your home is ready to go on the market, our agents will measure and photograph for advertising and listing.

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6. How will you advertise my home?

Leo Lawrence Real Estate uses a number of methods to advertise homes we list for sale. Your home will be listed with the Multi Listing Service (MLS), a service that will allow other REALTORS® to easily access important details about your home. Open Houses are often a good way to attract potential buyers and agents. We will place signs in your yard and in your neighborhood, if allowed. Additionally, we often advertise on the cable “Home Search” channel, on Realtor.com, in Homes magazine, and using strategic direct mail campaigns. This is done at no cost to our clients. Our agents will determine the best strategy for your house based on a variety of factors.

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7. What are disclosures?

The Seller’s Disclosure statement is the Seller’s written statement of any known defects, pertinent facts, or other known conditions regarding the property that could affect the Buyer’s decision to purchase the property. A Seller who fails to disclose known defects could face litigation.

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8.Do I need an attorney?

Missouri law does not require the use of an attorney in a real estate transaction; however, you may wish to consult an attorney for any legal questions you may have. Leo Lawrence Real Estate has worked with many attorneys, both in selling their personal property and in legal transactions. We have established a number of good relationships with attorneys and are happy to make referrals if requested.

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