Mankato Real Estate

American Way Realty is proud to be a full-service brokerage, with only a 4% commission to sell your house. The reason is simple; we believe that homeowners deserve to keep more of their hard-earned equity.

The real estate process can be very complicated and time-consuming.  Here is a guide to making the process easier:

Establishing the Asking Price:
Properly pricing your home is the most crucial element in making a successful sale.  Under-price it, and you lose on your investment.  Over-price it, and you may discourage potentially qualified buyers.  Because most homes lose market value if they linger on the market, there’s no time for trial and error.

The greatest amount of buyer activity occurs during the first three to four weeks on the market. Then it begins to decrease.  If you start too high and reduce your price later, you’ve lost your best opportunities and now must settle for a smaller pool of potential buyers.

Your American Way Realty agent will help you establish a fair asking price based on general market data and recent sales in the area of homes similar to yours.  From there, they’ll take into consideration other factors that may affect the value of your home, such as the location and condition of your property.  Then, they’ll continue to advise you on competitive adjustments until your home is sold.

Estimating Net Proceeds:
Depending on the asking price, your American Way Realty agent will prepare a “net sheet” for you. This worksheet itemizes costs associated with selling your property and subtracts them from the sale price, thus estimating the net cash you will receive from the sale.

The Listing Agreement:
When you have set your price and are ready to sell, your American Way Realty agent will help you complete a Listing Agreement. This agreement authorizes the listing broker to market your property under certain conditions, including but not limited to terms, price, commission and time period of the listing. When signed by both parties, this Listing Agreement becomes a contract between you and the broker.

Marketing Your Property:
It takes more than a “For Sale” sign in your yard to generate serious buyers, especially since 40 percent of home buyers relocate from out of town.

Your American Way Realty agent will now start the marketing process and show your home to as many real estate agents and prospective buyers as possible. They will submit the listing to the Multiple Listing Service (MLS).  It is the single most important place to promote the sale of your property. Information about your property will be entered into the MLS computer data bank for immediate access by all agents in the MLS. The property will be advertised in local newspapers and publications on a regular basis along with our web site, www.ManaktoRealEstate.com. The internet plays an ever-increasing role in the marketing of real estate.

Show Your Home Off:
In today’s market, it is a “Beauty Contest and a Price War”. Keep your house pretty! A clean, neat home allows buyers to see the “home” itself when previewing your property. Clutter tends to divert attention away from the most saleable features of your home. Dirty dishes and messy rooms leave buyers with a negative impression of your property. Also, personal photos and belongs can distract potential home buyers, so let them focus on the house, not the owner.

Be sure that all pets are securely closed within their cages or pet yards since some buyers have an aversion to animals.

The Offer :
Presentation
Once a buyer signs purchase agreement for your home your American Way Realty agent will present the offer to you.
Qualifications
The written offer to purchase should include detailed information about the buyer’s offer. Together with your American Way Realty agent, you will review the price, the amount of earnest money deposit, the proposed closing and occupancy date, any contingencies, and the buyer’s ability to qualify for a loan.
Acceptance
If possible, your decision should be made following the presentation. You have three options in responding to the offer:
Accept the offer as written
Make a “counter offer”
Reject the offer

When you and the buyer have agreed to all terms and conditions of the offer, you have both signed the document, and the buyer has been notified of your acceptance, the document becomes a valid sales contract.

Closing :
At the closing or settlement, you and the buyer will each have completed the conditions and met the terms to your contractual agreement and title to the property will be conveyed to the buyer.

Your American Way Realty agent will guide you through the steps of closing, including handling of the many details.
Following the closing, you will receive a final settlement statement for your records that clearly illustrate all fees paid by you to close the contract.