Seller FAQs | Chantel Ray Real Estate

To buy or sell a home,  call  757-717-1003.

Seller FAQs


The buyer wants to walk away from the closing….WHAT???

The most dreaded words a seller can hear: “The buyers want to walk away from the contract.” What now? Can they do that? What will they lose? Sometimes buyers get cold feet. They begin to get nervous about how much their mortgage payment is going to be and should they be buying right now? What if the market starts to decline – will they lose their money? Sometimes they were rejected in their financing or they found another home they liked better.

There are contingencies that are built in the contract that buyers can get out of the contract with. These can include home inspections, financing and HOA documents. These contingencies usually expire pretty soon in the process, so buyers have to decide quickly if they are going to move forward or not. Once the contingencies have expired, the buyer’s earnest money is at risk and will most likely be awarded to the seller if the buyer decides to walk. Depending on the contract, sometimes they can also go after liquidated damages – given certain circumstances. A buyer must not enter in a contract with uncertainty. Once the contingencies expire – their earnest money deposit is at risk.

The buyer has asked for repairs….what do I do now??

The house I am selling just went under contract! The buyer did their home inspection and now they have sent me a long list of repairs! What do I do now? This is a common scenario that we find ourselves in with our sellers. Once a contract has been accepted, if a home inspection was requested, it must be done within a certain amount of time. If repairs were requested, this list must be given to the seller within the time frame as well. Once the seller receives the request from the buyer, they have 5 days to review the request and respond back.

We suggest to our sellers that they get quotes on the repairs that were requested and decide which ones they would like to entertain. If they decide they do not want to complete all of the requested repairs, they counter back with what they are willing to do within the 5 day negotiation period. The buyer then has 24 hours to accept or counter back. Once the 24 hour period has expired, either party can release from the contract without being in default and no damages can be awarded.

Once repairs have been agreed upon, they have to be completed, prior to closing in a workman like manner. Our sellers select the contractors that complete the repairs and once repairs have been completed, receipts are sent to the buyer’s agent if requested. Prior to closing, the buyer and buyer’s agent will inspect the repairs to make sure they were done in a workman like manner. If all parties are in agreement with the repairs, the contract will move to closing.

We’re ready to sell!!! How long will it take to get it sold?

You have painted, updated, de-cluttered and are ready to put your home on the market. Now you have the age old question – How long will it take to sell my house? Our marketing strategy, if you follow our suggestion, is to price the home at the value where it will generate buzz quickly and get buyers in the door. The more desirable your home seems, the more buyers you will come through your door and want to make an offer. We try and get you an offer within 14-21 days, but this all depends on what the market is doing at the time. The winter months tend to be a little slower with buyers and spring time homes are flying off the market.

Once you get an offer on your house, it typically takes 30-45 days to get the home from contract to closing. We have the most effective marketing and spend over $40,000 a month on radio ads, TV ads and print media to get your home seen and heard!

Is there anything else we should do to get our home ready to sell?

There are a few items that we would like you to address in order to get your home ready to place on the market. First, we would like you to clear the home of clutter. When you are living in your home, it may be ok to have stacks of paper laying around and family pictures all over the home. But when you are selling, you want potential buyers to picture themselves living in the home and their pictures on the wall. Remove personal pictures and remove clutter from countertops to clear them off. You want the buyer to have it appear there is more counter space and room for furniture. If you reduce all of the extra clutter throughout the house to make it feel bigger, it make the home more spacious and buyer friendly.

We also recommend that you fix big problems that may drive buyers away. Is there a big hole in the wall that you have been covering up? Are your carpets in serious need of replacement? We would recommend you fixing these items. Large items like this can drive a buyer right out the door. Buyers have a hard time picturing “what it could be like”.

I want to sell my house…do you know how much it is worth?

There are many factors that go into the value of your home. Of course the condition of your home will be one of the first things to look at. Keeping the home updated and maintained will help a home hold its value. Also, any upgrades that you have done can be factored in. While these may not add actual value to your home, it will help place your home against the comparable sales in the neighborhood.

One of the biggest misconceptions that a seller will have is how much they paid for the house and what it should be worth now. Home values are based on what the current market is. You may have paid $300,000 for the house 5 years ago, but if the current market is now saying the house is worth $250,000, that is all you will be able to get. Market value dictates the price – so make sure that you have a great agent on your side who can give you the most updated market conditions. Here at Chantel Ray Real Estate, we can prepare for you a Comparative Market Analysis (CMA) right away to give you an idea of what your home is worth.

I am ready to put my home on the market…what do you think I should fix?

Getting your home ready for the market is one of the most important things you can do. Your home only have a few weeks as a “fresh” home on the market so you want to impress buyer’s right out of the gate. While each home is unique and different, there are a few pointers we can recommend to get you started. First and foremost, remove the clutter. The best investment you can make is getting a storage unit. When buyers see clutter, they can’t picture themselves in your home. Remove family pictures, clear off the counters and remove cluttered furniture. It will make your home appear larger and help the buyer see their future in your home.

Some other things you can do to get your home ready include servicing the major systems. One of the most common repairs requested are for the HVAC systems. Making sure these are cleaned and running properly will save you costly repairs in the end. Also, if your home is colorful, consider painting it a neutral color to appease all tastes and replacing carpet if it shows major wear and tear. All of these will help the buyer feel that the home has been well taken care of and give them a warm and fuzzy about the home. This will help your home compete well against the other homes on the market.

What do you do for marketing?

We have one of the best marketing programs of any agent in Hampton Roads. We spend over $40,000 in marketing each month. This includes radio ads, TV ads, print marketing and web based marketing. We are constantly on the radio, TV, email blasts and websites driving traffic to our agents so they can help find a buyer for your home.

We have agents on duty 7 days a week between the hours of 8 am and 8 pm. They are there to answer every call and email that comes into our office so that we never miss a showing call for your house. Our signature jingle and constant media presence has allowed us to be one of the top marketing real estate agencies in the area. We get your home sold because we don’t work alone. The average joe realtor does not have the money to spend on marketing like our Real Estate agency does!

What are the top three things that separate you from other agents?

First and foremost, our mission statement is to Glorify God by putting our clients’ interests before our own. We make sure to put our clients before our own needs and desires. We make every decision in our company in this order: 1. What’s best for the client, 2: What is best for the company, 3. What is best for the individual team member? Our client is what is most important in every transaction.

Second, we are available to our clients all the time by phone or email. We get the job done, because we don’t work alone. It is not just one agent working for you, we have a whole team of agents available to you. While you work with one agent, if they are ever out of town or unable to answer your call, they will have another agent on the team help you as well.

Third, our marketing is second to none. No one agent is able to spend on marketing what we spend each month. We make sure to hit every medium – print, radio, television – to target the right buyer for your house. By spending over $40,000 a month, we are able to drive massive amounts of traffic to our phone lines to speak to an agent or to our website so they can view our listings.

I’m thinking about listing my house – am I able to review the documents that I need to sign before we actually meet?

This is a big step and you have a lot of questions. You want to be prepared when you meet the agent for the first time so you can make sure you are getting all of the information. How can you be prepared for that initial meeting? Ask the agent to send you the paperwork ahead of time so you can review it.

Our agents are happy to send you ahead of time our listing packet. It lays out what to expect when listing your home with Chantel Ray Real Estate. You will have a chance to review what you should expect out of our service as well as what we will need from you to get your house sold as quickly as possible. You can review all of our disclosures ahead of time and have all of your questions ready!

What kind of guarantee do you offer?

We have a no hassle listing agreement. If you’re not happy, FIRE us! If at any time you are unhappy with our service, we ask that you let us know what has not met your expectations. We ask that you give us one more shot with a different agent on our team. If you are still not satisfied with our company, we will release you out of your contract with no hassle!

How much do I have to pay the agents who sell and list my home?

We charge anywhere from 2%, 4% or 6% depending on who finds the buyer on the home. If you find your own buyer and no agent was involved on the buying side, we will charge 2%. If someone in our office finds the buyer for your listing, we can discount the commission to 4% (if agreed to ahead of time). If another agent brings a buyer for your listing, we charge 6% with 3% going to the buyer’s agent.

How long have you been in the business?

I have been a real estate agent since 2004. Since then, I have built a team of professionals and trained them to sell homes just as I did. I am a big fan of the Ritz Carlton and I want every client treated as if they were at the Ritz Carlton.

When a new agent comes on our team, they are paired with a seasoned agent to learn the ins and outs of our company. We have a complex training program that positions agents to be within the top 10% of all agents in the Hampton Roads area. With all of our real estate knowledge combined, we have tens of years of experience.

What makes you different than any other real estate company?

We are completely different than any other real estate company! To find out why, watch out secrets video at www.chantelray.com/secrets.

Home Warranty Frequently Asked Questions provided by Old Republic Home Protection

Why do I need a home warranty?

A home warranty protects the valuable systems inside your home that are prone to failure. A home warranty works independently from your homeowners insurance to protect the items that homeowners insurance does not cover.
The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

What does the home warranty cover?

A home warranty covers many different systems in your home. It covers plumbing and electrical systems. In addition it covers appliances such as refrigerators, dishwashers, laundry washers and dryers.

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How do I get service with a warranty?

If something goes wrong in the home service is readily available. Simply calling 800-445-6999 will begin the process of dispatching reliable independent contractor to your home in order to get the situation remedied as quickly as possible.

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How much does a warranty cost?

Warranty prices can vary but great coverage can be obtained for between $400 and $500 depending on the type of coverage you select.

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How do I use the warranty?

Hopefully the warranty never needs to be used. However, if something goes wrong a quick phone call will take care of everything. A team of support is waiting in the wings to understand what services you require and to get the ball rolling as fast as possible.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Does a home warranty cover new appliances?

A warranty covers both new and old systems. The only requirement is that the appliances and systems are in good working order at the time coverage begins.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Does a home warranty cover climate control or Heating, Ventilation, and Air Conditioning (HVAC)?

Heating and air conditioning systems are the meat and potatoes of home warranty coverage. It is likely the most expensive repair you will make while owning your home. It might be the biggest reason to get a home warranty.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Does a home warranty cover old stuff?

Age is never a factor when determining whether something is covered. All appliances systems fail. It is not a matter of “if” but rather “when.” Our requirement at Old Republic is that it be in good working order at the time the warranty order is placed.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Who do I contact when something goes wrong?

For any needs or question that arise while a home warranty is active, a simple phone call to 800-445-6999 is all that is necessary to get things fixed.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

What is a home warranty? I have homeowners insurance. How is an Old Republic Home Warranty different?

A home warranty is a service contract that protects a homeowner against the cost of unexpected home repairs or replacement of major systems and appliances that break down due to normal usage.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How is this different from a manufacturer warranty?

Often you may have a factory warranty for on individual items in your home, check these warranties carefully, since they may only cover parts and/or labor. With Old Republic Home Protection, parts, labor, and system replacement are all covered. Please review our plan for complete coverage terms & conditions.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Do I need a home inspection before I enroll?

No. Inspections are required by some home warranty companies, but not with Old Republic Home Protection.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How do I transfer coverage to the new buyer?

Calling Old Republic and letting them know the house has been sold will allow the warranty to be transferred to a new owner.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

What happens if my furnace stops working in the middle of the night?

The service department is available 24 hours a day, seven days a week.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Will Old Republic provide a service contractor for my repair?

Old Republic has a stable of certified and independent contractors. As soon as a service call is placed a contractor is notified and then the contractor will call the homeowner to schedule and appointment.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

When does coverage begin?

Home warranty coverage begins the moment the warranty is applied for and payment is made.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How long does the Old Republic Home Warranty coverage last?

Coverage lasts for one year and then can be renewed every year after that.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

What happens if I sell my house while the warranty is in effect?

The warranty will transfer to the new owner and be in effect for the duration of remaining plan.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How do you get reimbursed for an approved claim if I used a contractor outside the Old Republic?

If it is deemed necessary to use an approved contractor not on our list, you just need to send the invoice to Old Republic for reimbursement.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Is there a service fee or deductible for each visit?

Each service call requires a $75 or $100 trade call fee depending what coverage you chose. This is due at the time of service. This is paid directly to the contractor at the time of service.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

Is everything covered under the warranty?

Not every home repair is covered under the home warranty. Some things are covered by your home owners insurance. Other items are not covered at all. Everything is clearly spelled out in an easy to read contract that is available on the web site at www.orhp.com.

 

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

How does Old Republic determine if the claim is approved or not?

Old Republic has a staff of trained service experts. Some coverage can be determined over the phone and other items need to be inspected by a qualified contractor.

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

If Old Republic approves a claim, will they cover all expenses?

There can be some out of pocket expenses during a repair. Some items may require addition expense while others, such as code upgrades, permits or the hauling away of material, can be avoided by taking advantage of supplemental coverage such as our Ultimate or Platinum protection.

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.

What if I had an item repaired without contacting Old Republic first?

It is important to contact Old Republic for service. We have a careful certification process to ensure you get the best possible service. Though there are times we authorize an outside contractor to do the work on your home, it still imperative that we authorize the work beforehand to ensure you do not incur any out of pocket expenses.

The above information is being provided as a courtesy as guidance to many of the questions that have been received. Chantel Ray Real Estate and its employees assume no legal liability or responsibility for the accuracy, completeness, or usefulness of any information herein.