Before placing your property on the market, it's important to understand market fundamentals. Four keys to preparing your property are:
Fair Market Value
This is the price at which a property should sell - based on recent comparable sales, current competitive properties, financing conditions and the condition of the property. Knowing the current assessed value is also important in determining capital gains tax, if applicable.
It is customary in San Francisco for the seller to pay for a number of inspections and reports. We will help clarify your costs by providing an itemized list of expenses.
Legal & Taxes*
It is imperative to understand your tax situation as it relates to the sale of property. Important factors include the Transfer Tax, Inheritance Tax, Foreign Investment in Real Property Tax, California Withholding Tax, 1031 Exchange guidelines, title vesting, seniors transferring their tax base to other counties and $500K/$250K capital gains tax exemptions. While we can help you understand the requirements of this process, we encourage you to consult an attorney or CPA before placing your property on the market.
Disclosures & Reports*
The best protection for any seller is to disclose all the defects and/or matters affecting the value or desirability of the property. We strongly encourage all owners to obtain a Pest Control Report and/or a Home Inspection Report. Several reports are mandatory to satisfy local and state requirements, such as the underground tank report, geological report, 3R report (permit history) and the energy ordinance. We can help obtain bids for corrective work as well as offer advice on selling your property in an "as is" condition.
While the variables of selling real estate are numerous, two basic concepts are paramount: initial asking price and time on market. When selling a home, the goal is simple - to sell your property quickly and at top market value. Our proven pricing methods and market timing strategies ensure this goal is met.
When your property is priced competitively, the percentage of buyers increases. Therefore, pricing the property at fair market value exposes it to the largest number of potential buyers and agents, which will increase the chance of a successful sale. (See Fig. 1).
Peak interest occurs from the real estate community and buyers when a property first hits the market place. The longer a property languishes on the market, the less appealing it becomes to buyers and agents (See Fig. 2). Once this happens, the asking price begins to decline. Testing the market with too high of an asking price may deter client interest.
Barbagelata provides experienced agents who understand the dynamic San Francisco real estate market. Our agents concentrate on finding you an interested buyer, at the price you want, in the time frame you require.
We navigate the fine print of real estate contracts, orchestrate showings around your schedule and maximize your home's exposure while minimizing the hassle of opening it to the public.
We know contractors and attorneys who can provide you with expert advice pertaining to your individual situation. We ease the difficulty of moving and help you find a new home. Our goal is to efficiently obtain the best price for your home, while maintaining an unwavering dedication to your personal satisfaction.
We pride ourselves on combining courtesy with intelligence, regional connections with global media coverage and broad cultural understanding with specific local expertise. Our mortgage team can find the most beneficial financing package for your new home or help with refinancing your existing home. We deliver the most extensive real estate services available in The City.