Homeseller's Kit Book

	Preface	ix
Chapter 1	To Sell or Not to Sell	1
	When You Have No Choice	1
	The Case for Adding On	2
	The Case for Moving	3
	For Older Homeowners	4
	When to Put Your Home on the Market	6
	If You Are Facing Foreclosure	8
Chapter 2	Agent or FSBO	11
	Selling by Owner	11
	The Agent's Pitch	13
	Why Use an Agent?	16
	If You Are Selling on Your Own	21
Chapter 3	Finding a Good Agent	22
	The Agent	22
	The Salesperson	23
	The Broker	23
	The Realtor or Realtist	23
	Finding an Agent	24
	How to Judge an Agent	29
	Types of Listings	34
	The Guaranteed Sale	35
	Neighborhood Expertise	36
	Do You Need a Lawyer?	36
Chapter 4	The Listing Process	38
	If You Invite Agents	38
	Types of Listings	39
	What to Negotiate at Listing Time	43
	Details to Discuss	44
	Financing Information	46
	Other Topics to Discuss	48
	Accurate Information	48
	Personal Property and Fixtures	50
	Supplementary Fact Sheet	52
	Possible Exceptions to Commission	53
Chapter 5	Some Legal Matters	56
	Fair Housing Regulations	56
	Law of Agency	57
	Your Agent's Duties	61
	If You Have Complaints	64
	Your Responsibilities	65
	The Buyer's Broker	66
	Fee-for-Services and Discount Brokers	67
	Transaction Brokers	68
Chapter 6	Pricing Your Property	69
	Factors to Ignore	70
	Factors That Count	71
	Finding Those Comps	72
	Expenses of Selling	75
	If You Price Too High	76
	If Your House Is Underpriced	77
	Professional Appraisals	78
	Selling on Your Own	79
Chapter 7	Preparing Your House to Sell	81
	Exterior Work	84
	The Main Entrance	85
	The Living Room	85
	The Kitchen	86
	The Baths	87
	The Bedrooms	87
	Throughout the House	88
	Spending Money	88
	Final Preparations	89
	Advertising	90
	Using the Internet	91
Chapter 8	Showing Your Home	92
	Selling on Your Own	92
	If You're Using an Agent	93
	Preparing for an Open House	96
	Selling Techniques	98
	If You Have an Agent	98
	Get a Report	103
Chapter 9	Negotiating Your Sales Contract	104
	Your Preparations	105
	Presentation of the Offer	105
	Your Response	116
	Signatures	121
	Role of the Backup	121
	Offers across the Land	122
Chapter 10	Your Buyer's Financing	123
	Is the Buyer Capable?	124
	All-Cash Buyers	124
	Assuming Your Loan	125
	Secondary Mortgage Market	128
	Portfolio Loans	128
	Points	128
	Conventional Mortgages	129
	Adjustable-Rate Mortgages (ARMs)	131
	FHA and VA Mortgages	133
	FmHA Loans	134
	Some Creative Programs	134
	Purchase-Money Mortgages	135
	Lease Options	137
	Qualifying Ratios	138
	Credit Scoring	140
Chapter 11	In the Tunnel	142
	The Agent's Responsibilities	142
	You and the Buyers	144
	Buyers Moving In	144
	Along the Way	145
	Seller's Problems	146
	Appraisal and Repair of Property	147
	Buyers' Problems	148
	The Deal That Fails	149
Chapter 12	The Day of Reckoning	150
	The Settlement or Closing Date	151
	Preliminary Preparations	152
	Adjustments at Closing	153
	Seller's Costs	154
	Carrying the Mortgage	159
	Actual Transfer of Title	159
Chapter 13	Moving and Tax Considerations	161
	Letting People Know	161
	Tying Up Loose Ends	162
	Income Tax and Moving Expenses	165
	Tax Considerations	166
	Afterword	173
Appendix A	Monthly Payment Tables	175
Appendix B	Remaining Principal Balance	193
Appendix C	Seller's Property Disclosure Statement	209
Appendix D	EPA Lead Paint Disclosure Brochure	213
Appendix E	Helpful Web Sites for Homesellers	229
	Glossary	231
	Index	239