The Selling Process
I would love to sell your home!
Why should Kim Patterson help me?
There are several aspects that set me apart from other realtors!
1) Experience: If I sell 30 homes a year, it is a slow year for me. I am a real estate broker that enjoys selling real estate as my full time job. Because I do this full time, I know the pulse of the market and what is happening – even if it is subtle. I know what to look for as warning signs and what to do to avoid any potential problems so that the transaction is as smooth as possible!
2) Education: My masters thesis focused on negotiation. I love negotiation and getting the best deal possible for my clients. I know when to push for a better deal and when we have reached the best deal possible. Not only do I have a Master of Business Administration, but I have worked diligently to earn designations like Certified Distress Property Expert (CDPE), Seller Representative Specialist (SRS) and more. I am also constantly continuing my education to keep up to date on issues and trends in the real estate market.
3) Services: I do many things that other realtors don’t. a) Videos – yes! They help sell the home! b) I track your home on the internet to see who is listing it and specifically to prevent any fraudulent advertising. c) Pictures – they are important! My undergrad focused on communication with an emphasis in journalism and broadcasting. I know what makes a good pictures and good pictures market your home! d) LISTINGS everywhere: I know how to market and we will get your home in front of as many people possible.
4) Honesty: One of the most difficult thing to do in my job is to tell someone something they don’t want to hear. However, if I don’t tell the truth, it is a disservice to my client and to me. I will tell you correct pricing, what needs to be done to sell the home, and feedback (good and bad!)
5) I love my job! What else can I say?
I am a Real Estate Negotiation Expert!
I am a Seller Representative Specialist!
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What is escrow?During the process of purchasing a home, escrow is the time in between when your offer was accepted and when you close on the home and take ownership. In Utah, escrow is often referred to as being Under Contract.
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What is Earnest money?Earnest money is a really important part of every real estate transaction, but most people don’t know what it is. To prove that a buyer is serious about a home purchase, earnest money is given as security of the promise to purchase. The amount of money put as earnest money varies on the size of the home, the seriousness of the buyer and the agreement in the real estate purchase contract. Earnest money is usually held by a third-party (either a title company or a real estate brokerage) in a trust account. Having the third-party hold earnest money helps to ensure the contract is correctly followed. Earnest money counts toward the down payment. This money may be refunded to the buyer or paid to the seller based on the contract deadlines and if the contract is ended properly. Protecting earnest money is a big deal and a priority of good realtors. In short, earnest money can be the punishment for breaking the real estate contract. If a buyer backs out after the contact deadline, the earnest money is lost. If a seller breaks the contract, the earnest money is returned and the seller matches the earnest money. Comment or tell me if you have more questions about earnest money!
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What are some of the basic real estate term and definitions?What is Settlement? Settlement is when the buyer and seller go to the title company (escrow/closing office) to sign and deliver all documents required by the real estate purchase contract, by the Lender, by the title insurance and escrow/closing offices, or by applicable law. It includes having any and all monies required to be paid by Buyer or Seller under these documents to be delivered by Buyer or Seller to the title company. It is usually through the title company that all funds are delivered. Lenders and title companies may be restrictive on how the funds are delivered. Often, we do not use this term and refer to closing as signing the documents. Technically, this is incorrect. What is Closing? Closing means that settlement has been completed; the proceeds of any new Loan have been delivered by the Lender to Seller or to the escrow/closing office; and the applicable Closing documents have been recorded in the office of the county recorder. This sometimes occurs the same day as settlement, but typically it is the next day.