Frequently Asked Home Seller Questions

Your most frequently asked home seller questions answered.

How do I determine the right selling price for my home?

Keeping an eye on current market conditions, such as inventory, sales in the neighborhood, economy, and interest rates, is a very good indication of when to sell or think about selling. Once the initial steps are considered, it’s also important that you choose the right professional to assist you in valuating your current home value.

Should I make repairs before selling?

It’s always a great idea to put “your best foot forward” when marketing a home. But sometimes, completely renovating a home to be placed on the market is a bit overkill. The most important aspect of marketing the home is the photos, so we want to make sure it is in great condition before that. Consult your Realtor before listing the home and ask them if doing repairs will benefit the sale.

How long will it take to sell my home?

I have sellers who frequently ask me this question, and it all depends on the following criteria: priced too low sells quickly, and priced too high takes a little longer. The larger part of the answer and the data that will back this up is how many homes are currently in my market, for example, “Who’s my competition?” and what the average days on the market are within my radius of home sales. This data will assist you and your Realtor in the average number of days on the market and can also help determine a final listing price for your home.

Do I need a real estate agent, or can I sell the home myself?

This question is often asked. Of course, you can always sell your home yourself. There are so many websites and information sites on the web that can assist you with this. But using a professional to assist you will help you navigate through the tricky process of”Disclosure,” Repair Requests, HOA Docs, if any, Title issues, and overall communication with all parties. But to answer the question. Yes, you can sell the home yourself.

What are the costs associated with selling my home?

Costs associated with the home’s sale vary depending on the sales price. You have recording fees, Title Insurance fees, and Escrow Fees; depending on your county and the state you live in, there may be “Transfer Tax:” Commissions (Although there are NO STANDARD COMMISSIONS in REAL ESTATE”) that will vary from Broker to Broker. At an initial “Listing Consultation,” have your professional provide you with an estimated NET SHEET. This will allow you to understand all the fees associated with the transaction and establish a good selling price as well and also provide you with transparency, which is more important than ever now in this market.

How should I prepare my home for showings?

Sellers should always prepare their home as if they are looking to buy it. What I mean bythis is if you yourself are looking for a home online, what is it that makes the home attractive? Is it the staging of the home, the presentation of the home, whether there are pets, and if so, is it clean? Also, make sure it’s un-cluttered and make sure counter space is available.

What is the best time of year to sell my home?

The best response is “whenever you are comfortable in selling.” Are there slow times? Yes, but that will vary from market to market. Usually, the best-selling season here in Las Vegas is from mid-January through Thanksgiving. Traditionally, the slower times are around the holidays later in the year.

How do I handle multiple offers on my home?

Multiple offers are always a great problem to have. With that being said, we must make sure they are “REAL” offers. Having multiple offers lower than the list should be considered, but make sure your Realtor provides an estimated Net Sheet for each offer, which will help you prioritize the offers in order of importance. Make sure there is communication with all parties, including but not limited to the buyer’s agent (if there is a buyer agent) and the buyer’s lender, to make sure their information has been verified so that once accepted, we know it will most likely result in a sale.

What happens during the closing process?

The closing process is very tricky and time-consuming. Usually, there are a few “Contingencies” that must be navigated, such as the inspection period, appraisal contingency, loan contingency, and the HOA Review. It’s important that your professional lets you know of the important timeline so they can check off the contingencies and get you to the final closing table.

How do I negotiate the sale price and terms with buyers?

Negotiations are part of the process when selling a home. It’s important that you hire the right professional to assist you in this process. This is one of the most important aspects of choosing the right Realtor to represent you, who’s looking out for your best interest and treating all parties involved fairly. The renegotiations start and end with what you and only you are willing to accept, which needs to be clearly laid out to the buyer’s representation.

Should I consider Solar for my home now that I own it?

It’s entirely up to you to decide if solar energy is the right move for you. Some questions to ask yourself include: How long do I plan on living in my home? Is the solar transferable if we decide to sell? Is there a benefit to solar? It’s hard to ignore the sharp increase in our energy costs here in Las Vegas. Just this year, we’ve seen some record spikes in rates, and it looks like we’re in for more hikes. Always speak to a few solar companies and see which is the best fit for you.  

  Benefits of Solar:
• Tax Benefit and 30% Rebate: The federal solar Investment Tax Credit (ITC) provides a tax reduction as an incentive for installing new solar energy systems. Under the Inflation Reduction Act, the ITC allows for a 30% deduction of the solar system’s cost from taxes owed, valid through 2033. After this period, the credit will decrease incrementally until its expiration in 2035.
• Reduce your energy bills,
• Increase your energy independence.
• Increase your property’s value.

What does “As Is” mean in real estate?

The phrase “as is” does not mean that a buyer waives inspections or contingency rights, nor does the buyer have to buy the property regardless of what they find during inspections. The phrase “as is” means that the property’s general condition is already included in the purchase price of the home, and the seller will not address the inspection issues of the house.  Summed up “as is,” the home is sold in as in condition. The buyer still reserves the right to an inspection for informational purposes only. The seller is not obligated to honor the inspection report or the repair request. The inspection is performed solely for informational purposes only for the buyer.

What closing costs does a home seller have to pay in Nevada?

Real estate closing costs for a seller can vary but typically include:

• Commission to the real estate agent (usually split between the listing and buyer’s agents)
• Transfer taxes and recording fees: Transfer tax in Clark County (which includes all of Las Vegas, North Las Vegas, Henderson and Boulder City)  is $5.10 per $1000.00 
• Title insurance policy
• Escrow fees (split between buyer and seller)
• Home warranty for the buyer
• Repairs required by the buyer or mandated by the contract
• Any outstanding property taxes or HOA fees
• The exact costs will vary depending on a number of factors, including the location of the property (transfer tax in Clark County, where Las Vegas and Henderson are located, is different than in Washoe County, where Reno is located in Nevada) and the price at which it is sold. It’s important for sellers to review the Net sheet the listing agent will provide you and the terms of your sales contract and work with an experienced real estate agent to understand all of the costs associated with selling a home.                                             

• Frequently asked home seller questions.