Motivation for Selling
Explore your reasons for selling. Everybody has a reason to sell. If you aren’t truly motivated or committed to selling — if it just struck you one morning that you should move to the other side of town and you haven’t completely thought through the process — you could be setting yourself up for disappointment.
Buying a New Home
Most people who sell do so to buy another home. Put together a list of neighborhoods where you may want to live and drive to them. Go to open houses. Check out pricing between newer homes vs older homes. Weigh your options. You might find you prefer to stay where you are.
Call Real Estate Agents
Interview real estate agents, talk to at least three listing agents. Ask each to give you a marketing plan that explains what they will do to market your home. In addition, ask the agents to prepare a comparative market analysis for you and ask each for advice about:
- Preparing Your Home for Sale
Compare suggestions and consider accepting the most sound advice. Generally, you will want to move out bulky and excess furniture. Go over ads, what your home is worth, check out other home values in your area.
- Repairs Before Selling
Not all resale repairs will pay off. You don’t want to spend a lot of money making improvements but you do want to repair obvious maintenance issues, if any have been neglected.
- Home Staging
You can hire a professional stager, ask your agent to help stage or stage it yourself. You will get more for your home if it is staged.
- Home Pricing
Do not select an agent based on suggested sales price. Some will overbid each other to get the listing. But do not overprice. Homes that are overpriced often sell for less than market value. Pick a plan that is going to get your home sold!
- I alwayws offer two pricing targets- low price and a high price. This way, sellers can be prepared for the worst and hope for the best. If the lowest net price will let you buy the home you want, it’s time to find financing.
Find a Lender
First, call your existing lender to find out exactly how much you need to pay off. Then check out new financing offers from your own lending institutions and trusted lenders your agent may recommend. Ask for a Good Faith Estimate. Compare rates. Often, mortgage brokers have more flexibility to discount rates and are more competitive.
- Get a loan pre-qualification letter, so you know how much of a mortgage you will qualify to obtain.
- You don’t need to apply for the maximum mortgage, a lower monthly mortgage might make you more comfortable in the long run.
- Compare mortgage loan options/types of loans to see which one is going to work for you.
Sell Before Buying: The moment your home goes on the market, you might be tempted to bounce around online looking at homes on the web. Next thing you know, you’ll want to make an appointment to view a few homes. Don’t get carried away by virtual tours and beautiful photographs of your dream home. It is almost always more profitable to sell before buying. **Ask me to go over this with you.