Do you need help selling your home located in Fort Lauderdale? No matter if your agent is involved or taking the route of for-sale by owner we’ve got your back.
The steps involved in selling houses within Fort Lauderdale aren’t always straightforward. Although the process is comparable with other states Fort Lauderdale has its particular rules and regulations for sellers.
This step-by step guide provides a breakdown from start to finish. It includes:
To guide you through the process of selling your home and avoid common mistakes in selling your home take a look at our nine-step guide.
How to sell a house in Fort Lauderdale
- Choose and select an Fort Lauderdale Selling House agent
We recommend that you find at least three local agents for sellers to evaluate and select from prior to signing an listing agreement. By comparing different options, you can determine the most suitable option to your needs andcould help you save thousands on commissions for realtors. Looking to sell your house fast for cash? We beat the other guys’ offers get a quote
There are many options to locate a realtor within Fort Lauderdale, we think sellers should use sources that are quick and easy to find high-quality choices.
Agent matching services
Agent matching services connect you with local agents for free. This is the most effective way to connect with knowledgeable local Selling house Agents within Fort Lauderdale, and to make commission savings.
What it does: You provide basic details. regarding your home and the features you’re seeking in an agent. The service matches you with the top Fort Lauderdale Selling House agents from reputable brokerages like RE/MAX, Coldwell Banker, and Century 21.
Certain agent matching services similar to Clever Selling House, can help you save thousands on the commission paid to realtors.
Clever has already negotiated a fixed $3000 or 1% listing fee through its top agents. This is much less than the standard Fort Lauderdale listing agent commission of 2.73 percent.
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Family and friends can supply you with a reliable real estate recommendation that is trustworthy and reliable. They’d probably not recommend anyone they’ve had a negative experience with.
However, there’s no guarantee that it will be an ideal match. You’ll have to check the qualifications and experience of the agent cautiously even if they’re highly recommended from a reliable source.
How can you compare agents?
After you’ve found a number of highly-rated agents to evaluate then it’s time to arrange meetings with agents, have them meet at home and pick the best agent.
Here are some important agent-related criteria to take into consideration:
- Expertise:We recommend choosing a listing agent who has at least 2 years of full-time expertise. This information is available on the most popular Selling houses websites like Zillow.
- Review of the customer: Look for positive customer reviews from previous clients. One or two negative reviews aren’t too significant. However, agents with multiple negative reviews within a short period of time (3-6 month) could be an indication of red flags. You can examine the reviews of each agent by using Zillow’s agent search tool.
- Marketing capabilities:Check each agent’s active and closed listings on Zillow or ask them to provide pictures of listings. Search for clean well-lit, polished images with excellent lighting. And compelling description of listings that emphasize the home’s most important highlights.
- Commission rates: Florida listing agents receive an average commission of 2.73 percent per sale. For Fort Lauderdale, seller’s are also accountable for paying the buyer’s agent commission which can range between 2.5 percent to 3.0 percent. In general, the commission for realtors is 5.45 percent across the entire state.
- Find out what fees the agent charges (and what’s included in their service) Also, consider an agent match service such as Clever that has already negotiated the flat 1.1% (or $3000) commission on listing agents that are part of its network.
- License Check:Check to see if each agent’s Selling House license is in good standing as well as in good standing or when it’s suspended. Find licenses for agents on the Fort Lauderdale Selling House Commission website.
- You must sign an Fort Lauderdale listing agreement and disclosures for sellers
It’s time to sign the Fort Lauderdale listing agreement to start the listing process!
The listing agreement contains crucial information regarding the sale of your home. It contains your expected date of listing, your home’s initial price of sale, what’s to be included (or that’s not) in the sale, the location where your listing will be promoted, and the duration of your contract.
Things to keep in mind are:
- The type of agreement for listing:Most agents work under an exclusive right to sell listing agreement (or one agency). This means that the agent is exclusively for you and is paid no matter whether they are able to bring forward buyers or otherwise.
- Commission rate for listing:The listing agent’s stated commission rate must be comparable with the rates stated in the contract for sale.
- Items that transfer with the propertyYou’ll be required to record the items or possessions you’ll take along.
Fort Lauderdale agency disclosure requirements
State law also obliges agents to provide you with a form of disclosure for agencies that outlines all of the legal obligations that the agent has to you. Find the form on the Fort Lauderdale Selling House Commission website.
Fort Lauderdale has several main kinds of Selling House agency agreements:
- Agent of the seller:The agent or broker represents you and NOT the purchaser. If you live in South Carolina, I usually advise my clients to work under one agent as opposed to other alternatives, because it offers my clients the best security.
- dual agencyYour Agent can act as you as well as buyers in one transaction that could occur in the event that your listing agent introduces buyers to the table. Dual agency could create the issue of conflict of interests – because the agent represents both sides, it can be difficult to be fair to both clients.
- Dual agency designated:Your agent’s Selling House broker may represent both you as well as the buyer. But, in the case of designated dual agencythe Broker is able to assign only one representative to represent your interests as well as an additional agency to represent buyers.
- Seller not represented:The agent will represent only the buyer and you will sell your home without representation (for sale by the owner).
Get in touch with the local Selling house attorney to get more information regarding Fort Lauderdale listing contracts and the required disclosures.
What are the requirements that Fort Lauderdale sellers need to inform buyers about?
Fort Lauderdale sellers must fill the Residential Owners’ and Property Disclosure Statement prior to the time the buyer submits an offer. You must respond, either yes or not the following questions about the condition of your home.
You should address the features and condition of your house according to knowledge. This includes any significant defects as per the statement of disclosure.
If you’re aware that there are issues with your house for example, a roof leak or an HVAC system that isn’t working, you’ll probably need to report the issue to prospective buyers via this form.
What are the types of defects that material comprise?
You can check “no representation” if you’re uncertain about a question. If you choose this option and the buyer finds out that you had previous knowledge about the problem the seller could hold you responsible.
You can ask your Selling lawyer or agent for further guidance on filling out the Fort Lauderdale property disclosure form.
- The price of your home
The next step is find a reasonable cost for listing your property.
At the time of your initial interview an agent must have presented you with an analysis of the comparative market (CMA) document. A CMA evaluates the fair value based on the condition, improvements and comparable homes that are selling for recently in the area you live in.
What is the typical CMA report typically contain?
A CMA can be a valuable tool that can help agents and you establish an appropriate price for listing your home. Your agent will be able to tell you how to set the right price for your home in order to meet your objectives.
Is CMA free in Fort Lauderdale? CMA cost-free within Fort Lauderdale?
A majority of Fort Lauderdale realtors will perform CMAs on their own. CMA free of charge to test to get your business. The CMA is typically discussed in the initial meeting in a meeting with the agent.
Contrary to some states Fort Lauderdale Selling House laws do not require agents to provide CMAs at no cost However, they will, unless you’re listing “for sale by owner” and require an expert recommendation on pricing.
Should I take an appraisal of my pre-listing instead?
Appraisals are generally performed by buyers during the process of selling their home. However, you can obtain an appraisal prior to selling your house to help you determine the price.
Appraisers usually have more expertise and experience when it comes to valuing homes, when compared to real estate agents. They could provide you with a more precise valuations to help you estimate the value of your house.
But, appraisals aren’t cheap ($300 up to $400 in Fort Lauderdale), and will take some time to be completed (1-2 weeks) and therefore, it’s important to be into your financial budget as well as timeline.
Warn: Beware of the use of online home estimation tools to estimate your house!
If you’re considering selling your house with no agent recommend you to avoid using a home value estimate such as Zillow or Realtor for pricing your home.
Home value websites offer an estimate of your house’s value, but they can differ by tens of thousands dollars.
- Make sure your house is ready for auction
It’s time to prepare your home to be exhibited!
Collect important documents
The majority of Fort Lauderdale home sales require a variety documents and documents for closing such as your mortgage statement as well as homeowners and flood insurance documents ,homeowners association (HOA) documents, as well as property taxes.
Take down utility bills and any warranties for your home or appliance manuals you may be able to find, in case buyers ask for them.
You can request an inspection for your home ($300-$400) in the event that you believe that your house is in need of attention which could hinder (or hinder) the sale of your home if it is discovered by a potential buyer.
An inspection prior to listing can aid in identifying and fixing problems with your house prior to the issues are revealed in the buyer’s home inspection.
A seasoned Selling Agent for your house should be able to provide you with advice on whether an inspection prior to listing is worth your time and effort.
Home repairs and make improvements
Based on the findings of a pre-listing assessment (and the state of your house) It could be worthwhile making some repairs.
What are the most frequent problems with home inspections that are common in Fort Lauderdale?
But, your agent is the best person to guide you on what improvements or repairs to make prior to listing – in an upbeat market for sellers it is possible that you do not need to make any adjustments.
Depersonalize, clear and clear
This is the ideal moment to sell, donate or dispose of unwanted or unwanted objects, and organize your home prior to the next public display.
Be sure that the interior of your house are clean Be attentive to the areas where potential buyers are likely to see the dirtiest areas most, including your bathroom and kitchen.
Make sure that every room is depersonalized and remove photographs of your family, artwork, and posters. It’s best to focus the attention of buyers to your home and not on your possessions.
Think about home staging
Staging your home can boost its appearance and can lead to more money in the sale, but it’s not a good idea for every buyer.
Home staging can be expensive (up to $3000) however, the cost will vary based upon the dimensions of your house and the amount of rooms that are staged, as well as the area you live in (it might cost less money to stage a house in a market with lower costs like Fayetteville as compared to a larger city such as Charlotte For instance.).
Talk to your realtor for guidance on whether staging your home is the right choice for you.
Request a net sheet of the seller
Your agent should supply you with a net-sheet If they haven’t yet.
A net sheet will estimate the amount of cash you could expect to earn when selling your house at different price points. It will help you decide whether it’s a good idea to spend money on pre-listing expenses including home staging or repairs.
Below is an example sellers net sheet that I got from the Selling House agent in Fayetteville, Fort Lauderdale.
Net sheets typically contain:
- The proposed price is: The estimate sale value of the property in a range of ($145,000 up to $160,000) that is determined by agents’ CMA report.
- Current financingThe balance of the loan owed to the homeowners ($55,000) which is subtracted from the sale price of the house and paid at the time of the closing.
- Costs of lending:Estimated seller-paid closing costs to the buyer upon request.
- Other costs: The estimated cost of the realtor commission (6 percent divided between agent for the buyer and seller) and the typical closing costs.
- Estimated equity to the seller:What the seller can expect to get from the event of a home sale at different price points after deducting the sale costs.
Use our calculator to calculate how much you could earn from the event of a home sale, after subtracting typical costs for selling your home that include realtor commissions as well as closing costs.
- Show your home and market it to potential buyers.
It’s get your house on the market and to host prospective buyers!
The agent representing you will place the “for-sale” sign on your front lawn, and then advertise your house for sale on the multi listings service (MLS) A database that the majority of Selling house agents use to promote and sell homes.
The agent you choose should also advertise your property on the most prominent Selling House websites (like Zillow, Trulia, and Realtor) Additionally, they could also hold an open house to generate more interest.
If you’re selling your property for sale through a private owner, then it’s best to advertise your property on MLS with the fee-based MLS service, which ensures it is seen by buyers’ agents as well as their customers.
My listing is up What’s following?
The process of putting your home on the market is both thrilling and nervous! What should you do next:
- Make a plan to take care of your pet. Sellers have had to keep their pets in their garage or in the backyard for showings, and some removed them from their house completely. If you’re planning on keeping pets at your house for viewings, you’ll have to inform prospective buyers (ask the agent suggestions on how to go about this). It’s your choice – NOT the buyer!
- Review your profile on Zillow and other well-known websites. Be sure to like the photos you have posted, or ask for the new photos from your realtor (or modify them yourself).
- Double-check your listing description. It should be a concise description of the main attributes and selling points and be well-written with proper punctuation and grammar.
- Think about posting your advertisement via social networks. Get the word out to family members and friends. You might also take into consideration sharing the information in your local Facebook groups.
- Be aware of your listing’s activity. You can see how many people have looked at or saved the listings on Zillow and then compare it with other listings in your area to assess how it’s doing. The information is available in the section called “overview” on your listing’s Zillow page (example below).
How to locate the listing activity of your property on Zillow.
How will my agent manage the showings?
The majority of agents use an app for mobile devices called ShowingTime to assist in managing scheduling appointments for showings.
The app lets buyers make requests for showings online, and sellers are able to view and accept (or decline) all showing requests (and agents are informed of any actions).
It is possible to start receiving viewing requests within one or two days after you’ve made your home available, but it may take longer based on the price of your home and condition as well as the local market.
What happens during shows?
You’ll have to leave your house so that the prospective buyer as well as their agent are able to tour your property (buyers and sellers seldom are in direct contact and they only speak to agents).
The key to your home could be kept in a locked box where the agent for the buyer has access to the box, and the agent typically gains access entering a unique code.
The typical time for showings is 15 and 45 minutes, depending upon the dimensions of your home and the speed at which buyers can navigate the house.
Contact your agent whether you have any specific conditions for showings, like the requirement that buyers remove their shoes prior to entering, or if the lights are to be left on (or shut off) following the showing or if a particular area of the home is to be shut off.
What happens following the show?
It is possible that the ShowingTime App or the agent you have chosen will inform you once the show is completed and you are able to go to your home.
You can get feedback on your showing from buyers via the ShowingTime app, by emails, or directly from your agent. Feedback can give valuable insight regarding the price of your home as well as its condition from the perspective of a buyer.
Perhaps, you’ll get an email from the agent telling you that the buyer likes the property and would like to put an offer on it.
Pro tip: Take note of the home buyer’s comments!
Feedback from buyers isn’t always favorable and negative feedback can hurt. Buyers might mention what they disliked about your property, or what they think your home is lacking or if they believe that your home is priced too high.
It’s easy to be offended by feedback, particularly in the case of buyers who are too critical. Try to take their feedback into heart. If multiple buyers provide the same comments and you are able utilize this feedback in order to enhance the quality of your listing.
- Talk to buyers about your needs
You’re likely to have received numerous offers within a couple of days or weeks after your website going live!
The offer should include the buyer’s price for the offer If they’re asking for payment for any closing costs, as well as the type of financing that they’re seeking and an estimated date for closing and an expiration date (typically 24 to 48 hours after the date of the date of submission).
Three ways that sellers and their listing agents can respond to an offer from a buyer:
- Take the deal. If the offer offers everything you want such as terms, price and timing are all excellent – then you may be able to accept the offer without arguing, particularly when there are no other offers being considered.
- Opt out of an offer. A majority of the specifics in an offer buy your house are subject to negotiation such as the house’s cost of sale and the date of closing. It may be beneficial to contest an offer when you’re sure that you’ll receive a higher offer in the event that the buyer rejects the offer.
- Don’t pay attention to your offer. There’s no reason to reply to a lowball proposal and one which doesn’t match all of your requirements – particularly if you have more attractive proposals on the table (or you’re sure that other offers will also come in).
Be aware that if you make an offer, and the buyer accepts it you’re legally bound by agreement.
What time frame will it take to reach an offer that is acceptable?
Timing is mostly dependent on the appeal of your home, and the way you’ve priced your property (higher priced homes usually require longer time selling).
Fort Lauderdale homes are on the market for the median of 45 days. However, the median is shorter in a number of cities, as per Realtor.com.
Discuss with your agent discuss your expectations regarding the time you could receive an offer that is acceptable following your live announcement.
The price is crucial however the price of a product is not all that matters!
The best price for sale will certainly notalways the best deal you’ll get. Apart from price, other aspects to take into consideration include:
Costs of closing for buyers:Is the buyer asking you to pay for part or all of the closing expenses? This could affect the net proceeds you receive at the time of closing, so you must be sure to calculate the numbers with care (and request your agent to provide the most recent net sheets).
Type of financing:Is the buyer paying the entire amount in with cash? Or is it financing? (Cash transactions typically close faster and with less hassles as compared to financed transactions).
earnest cash:Earnest funds typically range from 1% and 3percent of the property’s purchase cost. A higher earnest money deposit will give the buyer the benefit of having more “skin in the game,” that is, they have more to lose by reversing the transaction. Earnest money may be refunded to the buyer in certain conditions.
Fee for due diligence:Fort Lauderdale buyers must submit a due-diligence fee (often between $500 and $2,000) also known as “good faith money” that is directly paid towards the vendor. The buyer is given time to conduct inspections and evaluate the property, and they may leave if aren’t satisfied.
A higher fee for due diligence is preferred by sellers because the fee is typically non-refundable when the buyer decides to cancel the contract.
The time of selling:Is you willing and ready to conclude the sale within the desired period of time? It is possible to counter the closing date of the buyer in an offer.
Contingency for home saleDoes the buyer have to sell their house in order to purchase your house? It could just not worth the chance of the buyer’s previous sale not being completed, especially in the event that you have better offers to consider.
Your Realtor is in a great position to guide you on the best way to evaluate offers and deal with buyers.
- Examine the documents and then accept an agreement
If you’ve chosen that you’d like to consider an offer, and you’ve discussed it by talking to your representative, it’s now time to go over the contract and then sign it!
After the parties are all signed the contract, your house is now under contract and you’re only about a month away from closing the deal.
The state of Fort Lauderdale, it usually takes around 35 days for closing on the sale of a house after accepting an offer, which is lower than the average national time of about 58 days, according the data taken from Clever Selling House and Ellie Mae’s 2021 Origination Insight report.
What is what’s in a Fort Lauderdale purchase and sale agreement?
From a recent home purchase in Fort Lauderdale
The most important aspects of the contract are:
- Basic information. The buyer’s and seller’s full legal names, as well as the address of your residence.
- Price of purchase. How much is the buyer willing to pay to purchase your house.
- Possession date. The date estimated for closing, at which ownership transfer onto the new buyer.
- Cash earned. Funds kept in a trust account or escrow account till closingand then added to the price of the home’s purchase and/or closing expenses.
- The due diligence charge. A fee that is non-refundable and paid directly to the seller directly.
- Property that is personal. Things to be transferred in the sale, like storage sheds or appliances (this is on page 5 of the agreement).
- Information about financing:What loan type the buyer uses for financing his acquisition (conventional, FHA, VA, USDA, cash, or financing by the seller).
- Costs of closing:A list of closing costs that buyers and sellers are willing to cover.
- Conduct inspections, appraisals, and walk-throughs at the end of the month
Fort Lauderdale contracts typically provide buyers with buyers with a “due diligence period” during which they are able to conduct an inspection of the home.
The contract should specify the date on which the period of due diligence expires to the purchaser (on Page 2 in the contract):
Be assured that the majority of homes sales are contingent on the buyer’s home inspection. In reality, the vast majority of buyers (87 percent) are required to have an inspection of their home.
Sellers aren’t required to attend the inspection or read the report of home inspections from buyers. But , you could receive the report if the buyer requests that you fix any issues or defects.
Talk to your agent to find out the requirements you are required to address in your contract of sale and the best method to proceed following your home’s inspection.
In the event that the buyer’s offer is not met depending on the price, you could or might not be responsible to pay for an inspection for termites ($75 to $150).
Check the contract thoroughly and speak to your agent to determine who’s accountable for payment as well as what will happen if termites become apparent.
The majority of lenders require buyers to obtain an appraisal in order to determine the property’s fair market value, and also to be sure that the house is worth the price it was purchased.
The appraiser comes to your home to take both exterior and interior photographs, and note any special improvements or features that could increase the value of your home. They’ll evaluate your property against recent sales in the area using the information they gather to produce reports that provide an assessment of the worth.
Both buyers and lenders are provided with a copy appraisal. You’ll be informed when your home’s appraised value is lower than the price of purchase and in this case, you might have to negotiate a new the price in conjunction with buyers. Consult your agent for assistance in dealing with an appraisal that is low.
The buyer could have the chance to conduct a walk-through one or two days prior to closing. Do not worry, they need to ensure that the property is in the same state as the last time they saw it.
Here’s what you must do prior to their walk-through:
- Clean out your home completely If you haven’t done so yet taken out all personal items.
- Patch or repair any damage to drywall nail holes, or paint.
- Be sure that everything in the contract for sale are in good condition (appliances lights, appliances and more).
- Perform a light clean-up in the event that your home is dirty.
- Close on your home sale
The finish line! Here’s how to prepare for the days prior to the date you’re supposed to finish.
Check for an close declaration (CD). You’ll probably be required to sign the form between two and three days prior to the closing. It includes all the costs that must be paid by both the buyer and seller, as well as the estimated net earnings. Verify all figures with your agent and let them know if figures don’t seem right. This is what a CD appears like.
Get rid of your home completely. The house should be empty before the scheduled walk-through at the closing. It’s recommended to walk through your home again prior to the closing date to make sure you didn’t miss something.
Give the keys in to the person who represents you. Your agent will likely need your home keys as well as garage door openers in order to give to the agent representing the buyer.
Learn when and at what time the closing date is. The majority of the paperwork you need to fill out has been completed by you. Check with your agent if have to attend the closing in person or if you are able to complete any remaining paperwork electronically.
Stay in contact. Don’t be shocked if closing isn’t exactly on the time it was scheduled. Closings for buyers are delayed often (there are lots of moving pieces in the Selling house transaction). The agent you hire should keep you up-to-date on closing status throughout the day.
Last step: Receive your cash!
Congratulations! When you and your buyer have both signed all documents closing on the sale of your house.
The sale price of the house covers the realtor’s commissions, closing costs, and also covers any outstanding loans for the property.
The net proceeds will typically be transferred into your bank account upon the closing. Contact your lawyer, agent or title company for more information on the method and time you’ll be the money.
What next steps to take following the sale of a home in Fort Lauderdale
If your house sale is technically finished There are a few things you’ll need to take care of following the closing.
Save your home sale documents
It is recommended to keep both digital and physical copies of your home sale contract to help with taxes as well as personal documents.
Calculate your potential capital gains tax
There is a chance that you will have to pay tax for the sale of your house, based on your net earnings.
The IRS does not allow home sales gains as high as $250,000 for an individual, and $500,000 for married couples in the event that you’ve owned and lived in your residence for at most two of the previous five years.
Get in touch with your tax advisor for further information on capital gains tax and whether you’ll be liable for any tax.
Notify the U.S. Postal Service and DMV
You can setup forwarding of mail for your brand new address through the USPS website (it costs $1.10).
Are you in the Fort Lauderdale? It is the Fort Lauderdale DMV needs you to renew your driver’s license and title/registration within 60 calendar days of changing your address.
If you are moving out of the state, you’ll need to give your registration plate and driver’s certificate to Fort Lauderdale Division of Motor Vehicles.
Send your agent some love
Did your agent do a great job? Let me tell you They’d be happy to receive an excellent Zillow review and recommended to friends and family who might be interested in purchasing or selling their home.