Mankato Real Estate Search

Sellers FAQ

Q. Should I price my home a little high? I can always drop the price later.

We recommend against pricing your home too high, because this strategy is more likely to result in a lower price. A home for sale has the most activity during the first few weeks it is on the market. If a home is overpriced, it has to compete with homes at that higher price level and is not as likely to attract an offer. Plus, if you drop the price later, potential buyers will see that and may factor this into their offers.

Q. How should I prepare my home for sale?

Your JBeal Real Estate Agent will review everything you need to know with you in great detail. Areas to address include curb appeal (Is the lawn cut? Does the paint need touching up?); general maintenance (Are repairs or painting needed?); and creating a clean, spacious look (Is the home spotless? Is there excess furniture or other items that can be stored elsewhere?).

Q. Am I responsible for fixing any problems that come up in the home inspection?

The purpose of a home inspection is to expose major problems. Usually only minor problems are noted. The older the home, the more minor problems there are likely to be. If the inspection exposes a major problem, the home seller and buyer must work together to come up with a solution. Options include addressing the needed repairs yourself, deducting the price of the repairs from the bid or splitting the cost of the repairs with the buyer. Your agent will assist you in finding a solution that is acceptable to all parties involved.

Q. What costs am I responsible for paying?

The seller can generally be expected to pay for: real estate commission; document preparation fee for deed; documentary transfer tax (.33% of the sale price); recording fees to the county ($46 per document); payoff of all liens against the property including home equity lines of credit; home warranty (if applicable); tax proration for any property taxes owned at time of transfer; any unpaid homeowner’s dues; any and all delinquent taxes; any assessments (if applicable); and seller-paid closing costs (if applicable). Your JBeal Real Estate Agent will be able to draft a Seller’s Net Sheet, showing you an estimate of sale proceeds, upon request.

Q. Why shouldn’t I just sell my home myself?

Many aspects of the selling process are impractical for a homeowner. You would need to be prepared to market and show your home, which would mean taking calls at all hours and sacrificing your free time for showings.  Our experienced JBeal Real Estate Agents are not only highly trained in every step of selling a home, they also have the negotiation skills to make sure you get the highest possible price.

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