Dawna Davies and her assistant Jodi Blanchard did an exceptional job in helping us sell our home in San Luis Obispo. Dawna’s intelligence and knowledge of the business made the whole complex process easy for us to understand and navigate. What seemed like counter-intuitive advice at the start—that we should be extremely thorough in discovering any possible problems with the forty year old house and present them in advance—turned out to streamline the final transaction by building trust in potential buyers and removing the possibility of unpleasant surprises and uncertainty for us. Her contacts with a wide range of local business people who carried out many preparatory operations quickly and economically offered another unique benefit. Her tact and amiability made our numerous interactions pleasant rather than wary. And Jodi’s work in converting the box full of documents from our files into a coherent house-maintenance-history binder meticulous and creative. From start to finish our involvement with Davies Company was personally as well as financially rewarding.
- Make an initial decision. Decide if it is more important to get the right property at a fair price or a good deal on a property that may not be as suitable for your situation.
- Learn about today’s market conditions and what sellers may be expecting. Ask your agent to pull comparable sales from the last three months in a radius of property address, with appropriate limits on sq. ft., size, and property features (ie. bedrooms/baths, views, etc.)
- Evaluate the resale potential. The best deals are those that work best for your personal situation, and can meet others’ needs if you ever want or need to sell or rent it out. (For example, a conventionally-sized 3-bedroom 2-bath home will have a larger pool of buyers than a 1-bedroom home)
- Determine long-term and short-term property costs. These may include expected necessary capital improvements like a new roof or driveway, property taxes, loan payments, insurance (include special coverage if applicable), reasonable maintenance and management expenses. Also determine tax benefits that can offset expenses.
- Is it reasonable? Some properties and deals are not buy-able for every buyer. If you think it’s a great price but you’re over extending yourself beyond your budget, or timing is not appropriate for your circumstances, or there are existing leases/easements on the property, then it may not be the right property for you. The right opportunity will be there when you are ready.