There are a lot of websites these days that will generate an "approximate value," which, in fact, can be done on our website by clicking on "Home Value." Most online estimates are not very accurate, as they typically only have vague information such as square footage, number of bedrooms and baths, and the age of the home. To determine a more accurate valuation, factors such as condition, recent updates (age of HVAC, roof, bathroom and kitchen remodels, flooring, windows, etc.), and lot characteristics (wooded lot, pond lot, backing up to a busy road or power lines) all play a very critical role, in addition to specific buyer demand in the subject property's community. To request a personalized Home Value Analysis, click on Home Value to get an automated report, and then request a full analysis when you get the automated value response

Here is the truth about when to sell your home from an experienced agent who has been selling since 2000. It is not what typical agents may tell you: "Sell in the spring; that's the hottest market." Yes, the "spring real estate market," which begins in late February and runs through mid-May, has the most buyer activity. However, sellers know this, and the market is flooded with homes hitting the market as the weather warms up. Here is the best answer: If you have a gorgeous home that has been well maintained and updated, has excellent curb appeal, and you expect it to compete well with any neighbor's house that will hit the market, then the spring market is your time frame. So, if you feel you are the "beauty queen" of the market, list when the buyers are out in plenty. If you are the "bridesmaid" and may not be the most attractive on the block, lacking updates or curb appeal, you may not compete well with all the inventory of homes that hit the market in the spring. You may be better suited to sell in the middle of summer, fall, or even winter, when there is less competition for buyers to choose from. Another factor to consider is the direction of interest rates. If rates are going up, this could cool the market, so list and sell before rates go up. Major employers entering or exiting the market could shift demand. Other economic indicators, such as inflation or unemployment levels, could be considered. If they are heading in a direction that softens the market, the sooner you sell, the better. If they are improving (i.e., unemployment is going down), perhaps wait to let the market improve. 

The big 7 are a must. 

1. Declutter (it will look empty because you are used to all your junk everywhere, but significantly declutter the home). 

2. Deep clean (have home professionally deep cleaned). 

3. Curb appeal (add fresh mulch, trim bushes, keep the yard mowed, and plant colorful flowers). 

4. Make minor repairs around home. 

5. Paint.  Freshly painting the home will remove all the years of nicks and scuff.  We are currently recommending an off-white color, like Sherwin-Williams Alabaster.

6. De-personalize the home.  Remove personal and family photos. You want the buyer to focus on the features of the home, not who lives in it. Psychologically, you want the buyer to feel like they are walking through their new home, not someone else's home.

7. Minor Updates.   We recommend updating simple items in the home, such as lighting, kitchen cabinet hardware, and flooring (carpet and luxury vinyl plank - LVP). We typically want the lights to match, and in most price points, we use brushed nickel for lights and hardware and a neutral, light cream/beige carpet with a natural wood-look LVP.

This varies based on major factors, including where the home is located. The real estate market is hyperlocal. Even within the same city, each neighborhood can have drastically different results. Some highly sought-after communities may average less than two weeks on the market, while just down the street, in a community that is less desirable, homes can sit on the market for months. Seek out an experienced real estate agent who can share the market analysis details for your area.

Seller fees when selling a home typically consist of real estate commissions (which are always negotiable), title company fees, mortgage payoff, HOA dues, prorated taxes, and other closing costs, such as concessions to the buyer, a home warranty, repairs, etc.

Depending on market conditions, sellers sometimes offer to pay a buyer's closing costs and even buy down the buyer's mortgage rate so the buyer can afford the home.

If a seller can't qualify to buy their new home without selling their existing home, then you have the answer: sell first. In some scenarios, the seller can negotiate extended possession to remain in the home while they search for and buy their next home. If the seller can qualify to buy without selling, the decision depends on the level of risk the person is willing to accept. Making an offer that is not contingent on their home selling will always be more attractive, thus resulting in the best possible terms. In that scenario, the buyer could always ask for an extended closing date, giving them time to list and sell their current home while they are going through the Page 3 pending (escrow) process on their new home. However, there is uncertainty about how long their home will take to sell. The Gutting Group/Keller Williams Realty offers a Guaranteed Buyout Program in these scenarios, in which we guarantee the sale of their existing home at a predetermined price, so our clients can move forward with peace and comfort, knowing their home will be sold. To learn more about our Guaranteed Buyout Program, please call 317-846- 4888.

Here are the expenses you can expect when buying a home. 

-Down Payment: This can be as little as ZERO (such as with first-time buyer programs, USDA loans, VA loans, etc.). Yes, there are several NO-MONEY-DOWN loans.

-Earnest money:  Typically, a buyer will need to put down earnest money on a real estate transaction. This varies by state and by the type of purchase. In Indiana, we typically require approximately 1% of the purchase price for earnest money on resales. New construction could be up to 10%. Typically, these funds are given to a real estate broker or title company within two or three days after acceptance (as negotiated in the contract). This is credited back to the buyer at the time of closing.

-Inspection: A buyer will typically have an inspection performed, with fees ranging from $250 to $700 for standard inspections.

-Appraisal:  Most lenders will require an appraisal, although there are situations in which appraisal waivers may occur, typically when a borrower puts 20% down or more and has excellent credit. The typical appraisal cost is $400 to $600.

-Lender fees:  These vary with each lender and can range from $1,500 to $5,000 or more, depending on the size of the loan.

-Title company fees:  The title company will charge both buyer and seller fees for its closing services. On average, a ballpark figure for a buyer is $300 to $700.

-Prepaid taxes / Insurance:  Most lenders will require the borrower to put money into their escrow account for property taxes and insurance. This will vary depending on the property taxes for the property. Typically, lenders will collect approximately three to four months of property taxes to set up the escrow account. Homeowners insurance can be paid either before closing or, typically, at closing. 

Offer is accepted... yikes, now what? Your stress level is on overload. Ahh... relax; now you know the steps.

Step 1. Pay the earnest money as negotiated in the contract. Most of the time, this is done through an online portal now, but a check can usually still be given.

Step 2. Make sure the lender has the fully executed purchase agreement. They will continue their underwriting process to obtain your final approval, including ordering the appraisal.

Step 3. Get inspections ordered ASAP. Your real estate agent should be able to give you recommendations for two or three inspectors. Find out their availability and the cost of services, and ask any other questions you may have.

Step 4. After inspections are complete, the seller and buyer will negotiate inspection repairs as deemed necessary. This is one of the two biggest reasons deals fall apart. Buyers should know that inspections are intended to discover any previously undisclosed significant or major defects. A significant or major defect is typically defined as one that affects the value of the home, the longevity of the home, or the health and safety of the home. It is NOT for cosmetic concerns.

Step 5. The Realtor will work closely with the title company to be sure the property being purchased is free of any liens, defects, or encumbrances so that the buyer will obtain clear title to the home.

Step 6. The buyer should respond promptly to any question or request for documentation from the lender to ensure the lending process moves smoothly. This is the second-biggest reason real estate transactions are delayed or fall through.

Step 7. Once inspections are complete, the title company has provided a clear and insurable title, and the lender has given final approval, more commonly referred to as "Clear to Close," the last step is signing (closing).

Step 8. Closing. Buyers will need to WIRE their down payment and cash owed at closing if the amount is over $10,000. This is a federal requirement. Typically, buyers will wire their funds a day or two before closing. This is very important to note because of the amount of fraud. Buyers should never rely on wiring instructions received by email. Buyers should ALWAYS reach out to the closing office (title company or attorney's office) to obtain their wiring instructions. Don't call a number in an email. Find the number for the title company through your own research and call the company directly to obtain wire instructions. Buyers should review their closing statement before closing. It recaps all the numbers and will show the purchase price and all the closing costs associated with the transaction. Buyers will typically attend a closing at a title company or attorney's office. This varies from state to state. Typically, buyers and sellers are both present at closing. Again, this varies from state to state. Buyers should review all closing documents carefully.

Step 9. Celebrate! You are a homeowner! 

Yes. When a buyer finds a home, it will be imperative that a preapproval letter be sent along with the purchase agreement. This shows the seller that the buyer is serious and can qualify to buy the home. Most agents will not work with a buyer unless they have been preapproved. The first step a buyer should always take is to meet with a lender and gain an understanding of what Page 5 they can qualify for in terms of payment. This will determine the ideal price point of the homes they should be looking at and ensure they have the down payment (cash to close).

Yes. This became law in Indiana in July 2024. In general, most real estate professionals are required to have a written buyer agreement before touring a home. The agreement outlines the services provided and how the agent will be compensated. Buyer-agent commission is always negotiable.