Are you considering selling your home or property in Hawaii? Your property is likely to be one of the largest possessions that you have. Selling your property is bound to be of great concern, especially if you are off-island while managing your investment. This is why Steven will keep you constantly informed throughout the listing process to help you decide on the right choices. Although preferred, it is not necessary for you to be present during the sale of your property when working with Steven. Steven can facilitate all the details. That is part of his full service approach. Nearly 60% of his clientele that are selling their properties live out of state.
You will also need a clear understanding of local market conditions and risks. A wrong move could result in frustration and extra expense. That is why it is essential to have a real estate professional. Steven will work to make the sale of your home or property a successful and satisfying experience.
Steven is an expert when it comes to marketing property. One of the reasons you may have found this website is due to his commitment to advancement in internet and published marketing tools. Steven develops individual marketing plans for maximum exposure. As well as being listed on his website and in the MLS (multiple listing service)Steven markets his listings to his broad base of qualified clientele that he has built since 1994. In addition ,he also advertises in local and Island-wide publications and feature sheets/mailers to market your home. He will also arrange all showings of your property and be present whenever possible. He believes in peace of mind for Sellers knowing that their agent is present.
The Website. It is said that approximately 90% of homebuyers will have started their search for property on the internet. The Featured Listings Page markets Steven’s listings on the web. It is important to have maximum exposure through such a median.
The MLS is a computer-based system that relays valuable information about your home or property to hundreds of realtors and potential buyers.
Pricing Your Property
Setting a price for your home or property is a difficult, but important process. Steven has the experience to help you understand the dynamics of the Hawaii market and to decide upon a realistic price that ensures the best possible price for your property. Conditions that will directly affect the price of your home include location, condition, and competition. His goal is to pre-qualify all potential buyers/agents prior to showing each property.
So Now You Have an Offer...
After you have received an offer on your property, Steven will guide you through the process. Hawaii’s real estate contracts are typically 12+ pages long and can contain many unfamiliar terms. He will explain all the details of a contract so that you’ll feel well informed and confident in your decisions. As a property seller himself, He has had first-hand knowledge of seller concerns and questions.
Escrow
In Hawaii, after an offer has been negotiated and agreed upon, the buyer and seller typically use what is called an escrow company. Escrow will serve as a neutral third party. Escrow will also handle collection and distribution of all funds, coordinate title and closing issues with lenders and title companies and record the sale with the State of Hawaii. Steven will keep you informed throughout the escrow process to make sure crucial dates and events are completed in a timely manner.
The following are frequently asked questions and answers about selling property in Hawaii:
How much time will it take it take to close the sale once we have an accepted offer?
The escrow period will typically be 45 to 60 days in cases where the buyer is obtaining financing or where there are special conditions about the property. If the buyer is paying cash, this time period can be as little as 30 days or sooner. However, the actual escrow period will be based upon terms of the contract.
What should I do to make the property marketable?
Less is more. If you have a lot of personal items throughout the home, consider packing them away. This will also give you a head start on moving.
Have the home and yard in show condition whenever possible. Taking care of these items will increase your chance of attracting more buyers and obtaining higher offers. Some buyers will request showings on short notice and first impressions are important.
HARPTA/FIRPTA WITHHOLDING (What every seller should read!)
FIRPTA (Foreign Investment in Real Property Tax) and HARPTA (Hawaii Real Property Tax Act) relate to tax payments due from sellers who are not residents of the United States or of Hawaii, respectively. FIRPTA "requires that if the seller is a foreign person, the buyer must withhold 10% of the amount realized by the seller to cover any seller tax liability. Residences below $300,000 that are going to be occupied by the buyer are exempt from this provision."
HARPTA (Hawaii Real Property Tax Act) requires every buyer of Hawaii real property to deduct and withhold from the non-resident seller's proceeds, 5% of the gross amount realized on the sale to be applied to any Hawaii income tax due from the seller with regard to the sale of the property. A buyer would be exempted from this requirement if the seller furnishes the buyer with an affidavit stating that the seller is a resident (includes resident aliens), together with his taxpayer’s identification number…" [from Vitousek et al, Principles and Practices of Hawaiian Real Estate, Honolulu, HI, 1995.]
