7 Things You Might Not Know About Selling Your Home in Whitfield Estates

7 Things You Might Not Know About Selling Your Home in Whitfield Estates

  • Terri Thayer
  • 07/23/22

If you are considering selling your luxury home in Whitfield Estates, Manatee County, Florida, you should keep two things in mind. One: selling luxury property takes a different approach than selling a $100,000 home in a suburb. Two: selling a luxury home in Florida can be a bit different than selling one in other states, both in terms of laws and long-established procedures.
 
What you might not know about selling your home could prevent you from getting the actual value your home is worth and can cause the sale process to be long and murky. As such, you should prepare yourself and your house and be aware of a few things before listing it for sale.
 
Here are seven things you might not know about selling your gorgeous piece of Whitfield Estates real estate:

1. Sellers must disclose known property defects

Home sellers in Florida are required to disclose known defects on their property that have a considerable impact on its desirability or value. Nevertheless, home sellers cannot be held liable for property defects they did not know existed.
 
To help sellers make the necessary disclosures, the Florida Association of Realtors grants a standard disclosure form covering common items that should be revealed, such as structural issues, legal claims regarding the property, environmental hazards, and termite infestations. According to Florida Statutes §404.056(5), sellers must also reveal any knowledge of radon gas.

2. Some undesirable facts about a property are not subject to disclosure

While home sellers are obligated to disclose several types of property defects to potential homebuyers, there are other potential concerns they are not required by Florida law to disclose under Florida Statutes § 689.25. For example, a home seller does not have to reveal whether a suicide, murder, or death investigation occurred on the property.

3. A lot of paperwork goes into selling a home in Florida

Photo courtesy of Unsplash
 
One of the first steps when preparing to finalize the sale of a home is getting your paperwork in order. Every step of selling a home seems to come with specific documents you will need to provide the buyers, real estate agents, and mortgage companies. Aside from two forms of personal identification, you will also need the bill of sale, the signed deed, any HOA forms, the home inspection, and many other documents, including sales contract clauses and various types of disclosure forms. Work with your real estate agent and lawyer to ensure your documents are in order.

4. Sellers may issue a power of attorney in Florida real estate transactions

Florida law permits the use of power of attorney in real estate transactions, meaning that the seller grants specific powers to their attorney.

5. There are costs associated with a Florida home sale

Photo courtesy of Unsplash
 
Buyers and sellers are responsible for closing costs associated with selling homes in Whitfield Estates. In addition to repair and renovation costs, sellers may also cater for the following expenses:
 
  • Real estate commission
  • Transfer taxes
  • Property taxes
  • Intangible tax
  • Title search fee
Sellers can expect to pay a certain percentage of the home's purchase price in closing costs, which will vary. You will also pay a commission to your real estate agent. Also, consider any costs of staging, hiring a photographer, and performing any necessary repairs.

6. Staged homes sell faster

You have probably adopted a particular style for your home – your unique style. It may appeal to you, but it may not necessarily appeal to some potential homebuyers. This is because spaces designed for families are not necessarily ideal for young singles and empty-nesters, and vice versa. This is where home staging comes to play.

Home staging is a marketing technique that turns homes for sale in Whitfield Estates into properties that will appeal to buyers so they will sell quickly. It helps sellers get out of their own habits and preferences and into the mindset of buyers who get to see the home in person or online for the first time.
 
It’s been shown that staging pays off, as according to reports, staged homes sell 87% faster than the ones that have not been staged. Besides selling faster, staged homes tend to sell more than un-staged ones. According to a study by the National Association of Realtors, 23% of sellers' agents said that home staging increased the dollar value offered.
 
So, which parts of your home should you stage? Living rooms and kitchens are the most commonly staged areas, followed closely by master bedrooms and dining rooms. Unless you have both the time and skills to stage your home, it is best if you would hire the services of a professional home stager.
 
There are several reasons why hiring a home stager is a wise decision when selling your home in Whitfield Estates. Firstly, home stagers utilize specific strategies to highlight the home's architectural features, such as making rooms feel larger and more inviting. They also come up with a list of low, medium, and high budget options for re-design. Some may also bring their own décor pieces or rent them.

7. The services of a Whitfield Estates real estate agent are invaluable

Photo courtesy of Unsplash
 
While you may typically be a do-it-yourself-er, if you would like to sell your home faster, hiring the services of a real estate agent in Whitfield Estates will prove worthwhile value. Here are five reasons why you should hire a realtor:
 
  • Realtors have insider information and market data through the National Realtors Association that enable them to keep up with what's happening in the housing market.

  • Real estate agents are marketing masters who know how to make homes for sale shine. From staging homes for showings to photographing properties for listings to planning the perfect open house, they know it all.

  • Realtors are tough negotiators who use their experience and skills to seal the best deals for their clients.

  • Realtors keep up with the constantly changing rules and regulations governing property sale transactions, thus helping their clients stay on the right side of the law.

  • Realtors abide by a code of ethics, which means they conform to the rules that ensure standards of practice to promote honesty and fairness.
It is pretty clear that For Sale by Owner (FSBO) transactions are a huge hassle that will likely not save you any time or money. Just like an attorney would represent your best interests in court, a real estate agent can represent your best interests in a home sale deal.

It is easy to think you can handle the selling process all by yourself, thanks to the abundance of readily available information on the internet. The fact is that real estate transactions are complicated, time-consuming, and money-consuming if not appropriately handled. Hiring a real estate agent could mean the difference between spending long hours figuring things out and closing a sale without a hassle.

If you are looking for a real estate agent in Whitfield Estates, JT Home Team should be your real estate agency of choice. As a mother and daughter team with combined real estate experience of over 25 years, they are equipped to handle the complex selling process from start to finish so you can focus on other important things. Call them at (941) 914-0929 today, so they can help you sell your beautiful home in Whitfield Estates.

*Header photo courtesy of Shutterstock



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