Smart Biz

Selling home The Part of Tens

• - What Do You Like Best and Least about Living Here?
• - Why Are You Selling This Lovely House?
• - How Much Did You Pay for This House?
• - How Did You Establish the Asking Price?
• - Have You Received Inspection Reports?
• - May I See Your Written Defect Disclosure Statement?
• - Are There Any Neighborhood Changes that May Affect the Home's Desirability?
• - How Many Times in the Last Year Have You Called the Police and Why?
• - What Problems Have You Had with the House?
• - What Are the Local Public Schools Like?

As a house seller, you should anticipate tough questions smart home buyers (or their agents) may ask you. Most sellers and their agents are quick to praise property features such as a remodeled kitchen, new roof, and swimming pool. That's great, but what home buyers really want to know about are benefits - how house features translate into advantages for them. For example, that fancy kitchen may inspire more family meals and a swimming pool becomes an entertainment center for healthy outdoor family activities during the lazy, hazy days of summer. Other types of benefits buyers may be looking for include quality schools, a low crime rate for safety and security, convenient nearby shopping, hospitable neighborhood, and favorable fair market value (FMV) appreciation (showing the home is likely to be a profitable investment).

You need to make sure you're prepared to answer these potential questions in a manner that honestly represents your house without jeopardizing a potential sale. The best defense is a good offense. Sellers (and their listing agents) who are prepared should have nothing to fear from buyers who ask these questions. This chapter includes ten challenging questions you may be asked and some advice on how to handle them.