Every transactions is a little different and there are countless steps in the process of selling a house. Fortunately, you have the help of a Bike Realty sales associate to walk you through the process. Following is a quick overview of the process.

• Contact a Bike Realty sales associate to get started.
• Determine the market value of the property.
• Based on the market value and your needs, determine the asking price of the property.
• List the property on MLS.
• Market the property through various means.
• Review offers as they arrive. Qualify buyer and make counter offers as necessary.
• Negotiate and sign a contract for the sale of your property.
• Facilitate the process by allowing access to the property for inspection, appraisal, etc.
• Remove all of your personal property from toe house.
• Go to closing to sign papers and deliver the key to the property to the new owner.
• Celebrate.

It is very important to properly prepare you house for a quick sale and the maximum sales price. Consider the market conditions and the competition to buy or sell a home. Think about how you can make your house stand out among the other similar homes for sale in your area. Curb appeal is a must! Take time to deal with the details. Above all, make sure your house is clean for all showings.

Your Bike Realty sales associate can help you determine which repairs are important for you to make. But in general, you are not required to make repairs to the property unless that was negotiated and put into the contract. However, a house in disrepair will always sell slower and for less money than a house in perfect condition. Consider some mulch, flowers and a quick coat of paint.

Some repairs may cause potentially serious buyers to completely bypass you property. If you choose not to make repairs, consider the impact on salability of the house.

If you choose to make repairs, consider whether or not it is money well spent. Will a $10,000 new roof enable you to sell the house for $10,000 more? Will it at least help you sell faster?

Remember, you MUST disclose any material defects to all potential buyers. Don't cover up problems! Fix them, or don't fix them.

Your Bike Realty sales associate is highly trained in helping you choose the right asking price. Choosing the asking price of your house is NOT as simple as figuring out how much your neighbor's house sold for! There are many factors that go into the analysis.

First of all, appraisal value is not the same as market value. An appraisal can not tell you what your asking price should be, only the appraisers opinion of the value of the house. Furthermore, not all appraisals are created equal. A refinance appraisal and a new home appraisal my be very different.

In determining your asking price, you must consider the market value of the property (including recently sold properties, as well as houses that a currently on the market). Also, consider your need and desire to sell the property quickly. The condition of the property and the curb appeal will make a big difference.

You and your Bike Realty sales associate must consider all factors in determining the asking price.

In general, with very few exceptions, you should sell you existing home prior to buying a new home. You should ignore this rule if you have enough money so you can afford to make payments on your empty house for 12 months or more, or if you are working with a real estate investor to buy your house for cash.

Your Bike Realty sales associate will help you evaluate the current market conditions in order to determine how long it will take to sell your house. In general, it is completely up to you!

If you were to offer your house for sale at the right price, it will sell today! But if you want absolute top dollar, it may take years. Everything else is a compromise and balance between price and timeliness.

There are many costs associated with selling your property. Typically, you should budget for costs of around 8% of the selling price for closing costs, commission and repairs.

However, this is all up to you. You may choose to reduce the buying agent's commission (making difficult to sell), have the buyer pay all closing costs (making it difficult to sell), refuse to make repairs which are requested by the buyer (making it hard to sell), use a flat fee listing instead of a full service listing (making it hard to sell).

Remember, cutting costs may add to your holding time, which may add up to more than the savings.

In most cases you are required to move out of the property before closing. This is a negotiable point, but it is unusual for the seller to remain in the property after closing. Talk with you Bike Realty sales associate about your alternatives.

Contracts are a very important part of any real estate transaction. A savvy buyer can hide thousands of dollars worth of costs in a contract. A bad contract can lead to you being locked into a bad situation.

Only a lawyer can draft contract for others, but a Bike Realty sales associate can help you fill in a Florida Association of Realtors Sale and Purchase Contract. Plus, we can review these contracts to help you determine the meaning and costs associated with the terms of the contract.

Bottom line... Bike Realty sales associates will help you every step of the way.

One of the biggest mistakes a seller can make is to accept an offer from a non-qualified buyer. People will tie up your property for months waiting to be approved for a loan which the are completely unqualified to get. This will cast you thousands! Bike Realty sales associates will help you distinguish good and bad offers.

Your tax advisor is qualified to answer this question for your specific circumstances. In general, if you lived in the house for 2 out of the last 5 years, you and your spouse can each take $250,000 profit tax free. A single person gets $250,000 tax free, while a married couple takes up to $500,000 tax free. Of course you have to remember to adjust your tax basis for appreciation.

If you have not lived in the house for 2 out of the last five years, you may be able to avoid paying income tax by utilizing a 1031 Tax Deferred Exchange. I you choose this option, you must plan ahead and work with a qualified intermediary. Ask us about the details