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Seller's Resources

The Process from Beginning to End

The following is a brief outline of the Home Selling process from beginning to end for Home Sellers at Lake of the Ozarks.  This outline is accurate for both Full-time residents and Vacation Home Sellers at Lake of the Ozarks.

Make the decision to Sell your Home or Condo at Lake of the Ozarks

  1. Historically the early spring season is the best time to list and sell your home.
  2. We have been successful in selling homes year round.

Begin interviewing REALTORS in your area

  1. The popular belief is that you should interview at least three REALTORS.
  2. Be sure to ask specific questions regarding their sales history and how they market their listings.

Analyze the Competitive Market and what comparable homes have sold for

  1. Your REALTOR will have access to the MLS and should be able to judge the market and community of your home and generate a competitive price.
  2. Remember starting high is a popular trend but if you price your home too high for the market you will not attract any potential buyers.

Prepare home for Marketing and Showings

  1. Walk-through your home as if your were a Home Buyer and critique the colors, furniture arrangement, and clutter.
  2. Remember you want potential buyers to visualize their furniture and photos in the house.

Agent Markets the Home

  1. Your REALTOR should have a strategic marketing plan to help generate maximum activity on the house
  2. Statistics show that the three best marketing tools have historically been a sign in the yard, the internet and the MLS.

Negotiate, Reject or Accept and offer to sell

  1. The time to sell is when you have a Buyer
  2. You should never be too hesitant to sell if offers come in immediately or too quick to sell if the offers come in too slow.

Preparing your home through the eyes of a buyer

The effort put into repairing and cleaning your property is likely to be returned in a faster sale at a more attractive price.

As buyers approach your property the first time, impressions are formed quickly. Remember many buyers will pass on a home without even entering it if they do not like the look of it from the road.
  • Paint house - this can do more for sales appeal than any other factor.
  • Yard - Remove all toys, garbage, garden tools and other items from view. 
  • Mow lawn and keep edged. 
  • Close garage doors. 
  • Put colorful flowers in front of house.
Often, while waiting to be let in, the first thing a buyer looks at closely is the front door.
  • Put new paint on the front door.  Red doors are the best.
  • Buy a new door mat.
Buyers take a close look at the basement of a home. They will look for bad wiring, leaky pipes and signs of decay.
  • Clean out basement and dispose of everything you are not going to move.
  • Ensure that there is plenty of lighting.
  • Sweep or vacuum floor. 
  • Stack items neatly against walls.
The kitchen is often the most important room in the house. Make it bright and attractive.
  • Put a vase of fresh flowers on the table.
  • Replace curtains or clean existing ones.
  • Remove appliances from counters.
  • Create a pleasant fragrance in the kitchen (i.e. vanilla, cinnamon).
It is important that bathrooms are clean, bright and smell fresh.
  • Install a new shower curtain and replace worn throw rugs.
  • Polish all fixtures.
  • Open windows.
  • Hang bright, fresh towels.
  • Remove stains from toilets and bathtubs.
  • Use air freshener.
  • Display colorful soaps.
The living room
  • Clean out the fireplace and place logs in it.
  • Polish all woodwork.
  • Put big furniture in storage so rooms are not cluttered or crowded.

Repair & Cleaning Checklist

  • While your house is being shown
  • Before Your House Is Shown
  • Tag or remove items not included in sale (i.e. water conditioner, chandeliers, plants, drapes).
  • Open shades and curtains to let in light.  This should be one of the first things done when preparing for a showing.  It helps brighten the home and make it feel bigger.
  • Turn on enough lights so home is well-lit during showing.
  • At night, turn on porch light and outdoor lighting.
  • Tidy all the rooms. Neatness makes a room easier to view.
  • Clean dirty dishes in the sink and put away any dishes on counter.
  • Keep toys in the children's rooms.
  • Put away items in the yard such as bicycles, gardening tools and skateboards.
  • If fall or winter, light a fire in the fireplace.
  • While Your House Is Being Shown
  • When possible, leave while the property is shown. If not, remain in an area not being shown by the sales associate.  Buyers like to be able to freely comment on a home but are usually nervous about commenting when the owner is present.
  • Let the real estate expert show your house. Answer questions candidly when asked, but avoid questioning potential buyers.
  • Refer inquiries about seeing your house to your Realtor to take advantage of the agent's professional skills in selling your home.
  • Don't mention items you wish to dispose of unless asked.
  • It is best to be away when your agent is holding an open house.
  • Keep pets outdoors or in one area.  A dog has never sold a home.
  • Keep children quiet and in one area.
  • Keep radio, stereo or TV on low volume.
  • Keep money and other valuable items out of sight.
  • Keep the dock cleaned up.  Try to knock down any cobwebs that may form.

Answers to frequently asked questions

What is title insurance?

Title insurance protects the named insured against loss because of defects, liens, encumbrances, adverse claims or other matters not shown or disclosed to the new owner that attach before date of policy.

What is a wood-destroying organism inspection report?

A wood-destroying organism inspection report is a written opinion by a qualified state licensed structural pest control inspector based upon what was visible and evident at the time of inspection. The inspection report does not in any way represent or guarantee the structure to be free from wood-destroying organisms or their damage, nor does it represent or guarantee that the total damage or infestation is limited to that disclosed in the report. Wood-destroying organisms include subterranean termites, dampwood termites, carpenter ants, wood boring beetles and wood decay fungus.

What are the hazards of lead-based paint?

All buyers and sellers are required by law to receive and read a pamphlet outlining the hazards of lead-based paint for homes built before 1978. Be sure to ask your real estate agent for a copy.

What are closing costs?

Closing costs are an accumulation of charges paid to different entities associated with the buying and selling of real estate. For sellers, they are usually about 9.5-10% of the total sales price of a property. Some of the closing costs you might encounter are: discount points, escrow fee, documentation fee, homeowners' association fees, pest/rot inspection, real estate commission and title insurance premium.

What is the difference between "pre-qualified" and "pre-approved"?

If a buyer is "pre-qualified" it has been determined, with a loan officer, what price the buyer can afford based on the down payment, debts and the amount the mortgage company will approve for the mortgage. Being "pre-qualified" is only a determination of probable credit. If "pre-approved", credit, employment and funds have been approved by the lender.

What should a home inspection include? 

Every inspection should include, but not be limited to, an evaluation of the following:

  1. Foundations
  2. Roof
  3. Heating and air conditioning systems
  4. Ventilation
  5. Common areas (for condominiums)
  6. Septic tanks, wells or sewer lines*
  7. Insulation
  8. Plumbing and electrical systems
  9. Ceiling, walls and floors
  10. Doors
  11. Hazardous materials concerns*
At John Farrell Real Estate we are strong believers in Sellers inspecting the home prior to listing.  This will help you discover any problems that may exist before negotiating a contract.

* There may be an additional fee for this.

What property details are usually included by Listing Services?

Usually, properties listed will include the following details:

  1. Location
  2. Photograph
  3. Price
  4. Utilities
  5. Amenities
  6. Annual property tax
  7. Current financing (when assumable)
  8. Listing company
  9. What pages are generally included in the Purchase and Sales Agreement?
  10. Agency Disclosure
  11. Financing Addendum/Clause
  12. Earnest Money Receipt
  13. Inspection/Clause
  14. Conditions/Disclosures Addendum
  15. Contingency
  16. Addendum Outlining Special Conditions
  17. Lead-Base Paint Notification
  18. Property Disclosure Form (completed by Sellers)

What is the difference between a REALTOR® & Real Estate Agent?

REALTOR® identifies real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics. Not every real estate agent is a REALTOR®. A REALTOR® may be an appraiser, property manager or involved in some other aspect of the real estate business.