Frequently asked questions from sellers with VISION!
*** The following are frequently asked questions that we have received at Visionary Properties Property Management. We have tried to answer the questions to the best of our abilities and as detailed as possible. Please note that policies and procedures may change from time to time and although the following is a great resource changes may have occurred that create discrepancies. Please feel free to contact us with any additional questions or clarification by clicking"here".
Do I need a lockbox on the home?
A lockbox is not required. That being said the lack of access and availability may greatly hinder the ability to sell your home. Visionary Properties uses electronic lockboxes when selling homes so that we are notified and records are kept whenever the box is accessed. If you do not have an electronic key you cannot access the box. We recommend buyers make their home as available as possible as you never know when the eventual buyer will walk through that door.
Should I stage my home?
Staging a home can be a very valuable tool and if done right can make a home "snap". This can be an added expense, but should be considered in certain cases. Generally staging with furniture and art is not needed as long as the home is cleaned and kept up during the listing period. Speak to your agent about your particular listing and their recommendation.
How do I know what to list my home for?
Your agent will provide comprehensive data that will allow you to make a determination on what to list the home for. There will be a plethora of considerations in addition to comps such as condition, market condition, trends, location and your personal urgency/motivation. Getting the most for your home possible is our priority!
Do I have to disclose that I had termites?
Absolutely! You need to disclose everything. Disclosure is very important in real estate and we want you to protect yourself and if you know of an issue with the home, past or present than disclose it! The buyer has the right to know what you know.
Can I restrict when people can see my home?
Yes, but make sure it does not affect your ability to sell it. The electronic lockbox keys restrict access during early morning hours and nights so there are some built in restrictions already.
Do I get to pick the title company?
Buyers can pick the company they want to buy title insurance with. Keep in mind that everything is negotiable and that escrow is different than title so do not confuse those two items.
How do you market my home?
Every agent in our company will work diligently to sell your home. Each agent will have their preferred methods of marketing and ideas for giving your home exposure so you will want to meet with your agent to address specific marketing strategies. Every property requires unique marketing concepts as like humans, no two properties are alike! Here are a few ways we can market, but by no means is this an all inclusive list! Realty signs, riders, info boxes, MLS, websites, social media, hotsheets, investor databases, mailers, fliers, masterminds, open houses, door hangers, e-mail blasts, staging, agent tours and much more!
Are open Houses a good ideas?
Any exposure is good exposure! Open house can be a great way to get people to your home and invaluable as far as feedback from the visitors! When an open house is done well and professionally both seller and agent can benefit.
Where does the earnest deposit go?
The escrow company will hold the earnest deposit and apply it to the closing. If there is a breach by any party they will disburse the funds to the appropriate party once they have reviewed to determine who is in breach.
What if there is a septic tank?
Septic tanks are very common and can be a savings over sewer costs. Generally septic tanks are on larger lots and rural areas, however they can be anywhere potentially. When you buy a home with a septic tank the seller must certify the tank. Do not let the fact that a septic tank is present affect your desire to purchase, just make sure it is inspected and certified.
What does carry-back mean?
A carryback is a owner of a property doing financing for a buyer rather than a typical bank loan. This can be a good deal for all parties. Oftentimes the buyer needs this because they cannot qualify for traditional financing and a seller may like the additional interest and their money over a period of time. Talk to your agent about this option.
How long will it take to close?
This is determined during the offer negotiation process. Cash closings with no HOA or tax issues can close in just a few days. Properties with several liens, taxes, violations or other issues can take several months. Generally speaking though most closings take place in 3-5 weeks. This allows title and escrow do the necessary things to successfully close the sale and convey title. There may be items that affect the timeframe even after a date is agreed upon and in those cases a new closing date should be negotiated between the buyer and seller.
What is an insurance claims history report?
This is a report that a seller provides that will identify any insurance claims filed in the past 5 years on the property you are buying.
Do you have a recommendation for a company to manage/rent my home if it cannot be sold?
We will do it for you! Your agent here at VPPM can find you a tenant and manage your home for you.
What are SPDS (disclosures)?
This is a detailed Sellers Property Disclosure Statement. The seller will complete this document and provide the buyer with a copy to review during their inspection period. This is signed by the seller and deemed accurate to the best of the sellers knowledge. This is a very helpful tool in assisting a buyer through the inspection process.
How long is an inspection period?
Inspection periods can vary depending on the type of property being purchased and inspection periods are also negotiable with each transaction. Many buyers use inspection timeframes to negotiate with to make their offer look more attractive. A standard home in Arizona has a 10 day inspection period, while land and commercial timeframes are different. Verify the inspection period appropriate for your transaction with your realtor.
Can I view the MLS myself?
Yes! We provide a link right here on our site! Go to the top of the homepage and click on the property search link and you will have a direct MLS feed.
Is your company really named Visionary Properties Property Management because one of the owners is blind?
Yes. Jason Rodgers is blind and he and co-founder William Doyle named it Visionary Properties and developed the tagline "The Realtor's With VISION" to reinforce that a lack of sight certainly does not mean a lack of vision! They believe that we should not allow life's little obstacles to affect who we are and what we accomplish.
Can I rent the home back after I sell it to give me enough time to find a place to move?
This is possible, but needs to be negotiated with the buyer at the time of contract acceptance. Generally, buyers will want to take possession right away, but may be willing to allow a short lease if you ask.
Do I have to do repairs if the buyer asks?
You are not required to do repairs just because the buyer asks for them. You will want to assess the situation and then make a determination. Every transaction is unique so discuss the request with your agent.
Do I need to put up a pool fence or self closing doors if I do not have them currently?
Check your local requirements for the area your home is located. These rules and regulations can vary so it is in your best interest to verify the local guidelines.
Can I sell my furniture with the home?
You can sell it separately on its own bill of sale.
What can I do to help VPPM sell my home?
Working as a team is very important when selling your home. You will want to speak to your agent with regard to the unique circumstances surrounding your sale as every property and situation will be different. With that there are some typical things to discuss and consider that sellers can assist with such as cleanliness, availability, exposure, maintenance and responsiveness. Remember to work with your agent as we have the same goal to sell your home and to get you the best return possible.
Can I call a den a bedroom?
No. A bedroom must have a door and a closet.
What if I owe more than the home is worth?
You have several options available to you and should consult with an attorney, accountant and realtor before making your final decision on what is the best option for your personal situation.
Should I do a 1031 exchange?
You will want to speak to your accountant to see if this tax deferment program is right for you based upon your financial needs. 1031 exchanges are a great program and should be investigated.
Do I have to leave utilities on while I am trying to sell my home?
Generally yes. The agreement to sell will typically require the utilities to be on for inspections and final walk-throughs. Additionally you will want the water and power on so that plants do not die, pools can be maintained, the home is comfortable to show and plumbing does not get smelly.
I do not want people calling me, can you field all calls?
Yes! We can have agents and buyers call us directly so you do not have to deal with that potential frustration. We as agents generally want them to call us directly so that we can do what you hired us to do and that is to sell your home.
Do I have to pay the buyer's closing costs?
This is negotiated during the offer process and a seller does not have to pay closing costs related to the buyer. (There can be exceptions such as some VA fees) That being said there are times when it may be in the sellers best interests to do so depending on the offer. You will want to work with your agent and determine what is a good plan once you get an offer in your hands.
What if the home does not appraise? Do I have to lower the price?
Unless you have negotiated otherwise you do not need to refuce the price. The buyer may opt to cancel if the home does not appraise so you may want to negotiate with the buyer to come to an agreement satisfactory to all parties.