How should I price my home? This is the most important part of selling your home and careful planning should go into how you price your home. Your Utah Select Realty agent will be able to assess the value of your home and help you determine what a fair asking price would be. Don’t be concerned so much with the amount of the commission; your primary concern should be your bottom line. A lot of agents will reduce their commission, but also try to get you less money for your home. When you interview agents, ask for the addresses of homes that they used for comparables. Most agents will have them easily accessible and will provide you all of the adjusting values comparing them to your home. When you see the adjusted value of your home, drive by and look at the homes listed. If you feel those are accurate comparables of your home, chances are the value expressed by the agent is accurate as well. If you don’t feel those are accurate, find another agent who will provide you an honest and fair opinion.

What closing costs do I have to pay? Traditionally, your closing costs as a seller are relatively inexpensive. As a rough estimate, you should figure on 1| of the purchase price. This should cover all of your pro-rated taxes, title fees, reconveyance fees to the new buyer, mandatory loan payoff fees and recording fees.

What is a “For Sale by Owner Commission Agreement”? A “For Sale by Owner Commission Agreement” is a state form used by Realtors to work with For Sale by Owners who do not want representation of an agent on the sale of their home. Many agents who are working with pre-qualified buyers will approach the seller directly to negotiate the commissions to be paid at the close of escrow once the transaction is complete. This is the most lawful way to do it, and it helps the buyer who already has a agency agreement with the agent and broker to facilitate the transaction without the increased risk of legal complications. Seller’s often prefer to sign this over the alternative of a listing agreement that often forces additional commissions to be paid and this reducing the seller’s net proceeds.

What is my home worth? You will want to fill out the form on our site under the heading “What’s my Home Worth.” Be honest and accurate in the information you provide us. Anything less than an appraisal is just a rough estimate, but with all the data we have access to, we will do many of the same steps and adjustments to accurately determine what market value is for your home. Most of the time, this will be just as accurate as an appraisal and doesn’t cost you anything like an appraisal would. This could save you $350 on average.

Who pays for an appraisal? The Buyer pays for the appraisal. If the transaction is closed, the appraisal fee will be included in the Buyer’s closing costs. If the transaction fails and the appraisal has already been done, the Buyer must still pay the appraiser.