TESTIMONIALS for RENZO LARA REALTOR for Castelli RE Servs.

How do I price my property for SALE?

The importance of pricing

A buyer's first impression of a property is directly related to how he/she perceives it to be priced in the marketplace. If the buyer does not feel that it is well priced in comparison with other available properties, this will negatively impact an otherwise good first impression. For this reason, it is important to price it correctly.

Defining a fair market value range

Fair market value is the highest price at which a willing buyer will buy and a willing seller will sell, i.e. fair market value. Many factors are considered in determining a fair value range:

• Location, size, condition and demand for this type of property
• Recently sold comparable properties
• Competition from comparable properties currently on the market
• Availability of financing
• Terms of the sale

Asking price

Once the fair market value has been determined, the best asking price can be determined. Your agent will discuss the pros and cons of the various pricing strategies to determine which is most appropriate.

Taking advantage of optimum exposure: the first weeks

Your property will get the most attention during its first two to three weeks of market exposure. Further, it has been shown that you will likely receive the highest price during this period. If your property is overpriced during the initial marketing period and a price reduction becomes necessary, it is unlikely that you will regain the level of activity experienced in this initial period.

Help me understand Closing Costs?

Closing costs are the various charges made by the lender, the title company, real estate agents and other service providers necessary to complete a transaction. Although who pays for the various closing costs is ngotiable between the buyer and seller, the following sets forth the customary division in Broward County.

The Buyer customarily pays:

• Title insurance premium for lender and buyer.
• Escrow fee
• Notary fees
• Contractor's and pest inspection fees
• All new loan charges (points, appraisal, document processing fees, etc.)
• Interest on new loan from ddate of funding to 30 days prior to the first payment date.
• Homeowner's insurance for first year
• Wind insurance
• Private mortgage insurance (typically 2 months) if required by the lender
• Private mortgage insurance impound account (1 year) if required by the lender
• Property tax impound account if required by lender
• Move- in fee
• HOA account transfer fee
• Miscellaneous charges

The seller customarily pays:

• Real estate commission
• Document preparation fo deed
• Documentary transfer tax (amount is dependent upon sales price)
• Payoff af all loans against the property
• Interest accrued on loans being paid off, reconveyance fees and pre-payments penalties
• Home warranty (if specified in contract)
• Any judgement of tax liens against seller
• Property tax proration
• Unpaid homeowner's dues (for condominiums)
• Bonds or assessments
• Delinquent taxes
• Move- out fees (for condominiums)
• Notary fees and recordation fees
• Third party Natural Hazard Disclosure Statement & Florida Tax Disclosure report
• Pre- Sale pest inspection fee
• Underground storage tank report
• Miscellaneous charges

* This list is a general guideline of charges and may not be wholly inclusive for your transaction.