Thinking about selling your property? You may want to consider researching, collecting and completing the items detailed below.
This is not a check list for planting flowers on your porch and painting your front door, you can go to the internet for that information. This list is to prepare sellers in San Juan County for marketing their property. The issues below are for regulatory compliance and contract performance. Attention to these issues will prove beneficial and would be worth the effort during the marketing and transaction management of your property sale.
As your agent, I will assist with the process of gathering and helping you arrange for the various services. That is what good agents do.
This list will not apply to all properties and it is not meant to be all encompassing. The topics are in alphabetical order for your convenience.
Single Family Residence
“As Is” Sale
Washington is a due diligence state with the buyer able to process the suitability of the property with no risk to their deposit if their contract has contingencies. Some property owners believe by writing in “as is” on the contract that they are excused from making repairs and/or disclosing information about the property and buyer recourse. The statement indicates to the buyer that the seller has no intention of making repairs but the buyer may still obtain a home or other inspection reports as they deem necessary. Disclosure and recourse are requirements and rights granted by law.
Appraisal
It is difficult in a recovering market to provide an opinion of value and an upfront appraisal may be an option, although I don’t recommend one. The report cost range will be $500-$800. Unfortunately the report can’t be used by the buyer if a lender is involved. The lenders have their approved appraisers list and must be the party that orders the report. Further, due to licensing regulations, appraisers are only able to utilize closed sales as comparable. The agents are able to use pending sales and current inventory to process their opinion which takes market trends into consideration.
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Merri Ann Simonson
Managing Broker
Coldwell Banker San Juan Islands Inc
1-800-451-9054 Office
360-317-8668 Cell
