Home Seller Articles
Before Moving To A Larger Home
Unlike the experience of buying a home for the first time, when
you are looking to move up and already own a home, there are certain
factors that you must consider. It’s very important you evaluate
these factors before you list your home for sale.
Not only is there the issue of financing to consider, but also
the fact that you have to sell your present home at exactly the
right time in order to avoid the financial burden of owning two
homes or, just as bad, having no place to live during the gap
between closings.
Most of us dream of improving our lifestyle and moving up to a
larger home. The problem is that there’s sometimes a discrepancy
between our hearts and our bank accounts. You drive by a home that
you fall in love with only to find that it has already sold or the
asking price is way too high. Most homeowners get caught in this hit
or miss strategy of house-hunting when there is a much easier way to
go about the process. Your first move is to meet with a competent
agent and discuss the sale of your house and necessary improvements
to make. How much you will net from your sale will determine what
you can purchase. Look at a few homes to get a general idea of
availability so when you are ready to buy, you can do so quickly.
If you want to get the best price for the home you are already
selling, there are certain things you must do to enhance its
salability. The repairs and alterations don’t have to be expensive.
Even making minor investments can come back to you ten-fold in the
price you are able to realize. Making minor improvements must be
done before the house is put on the market in order to attain top
dollar for your home.
You should plan to sell before you buy. This way you will not
find yourself at a disadvantage when seated at the negotiating table
feeling pressure to sell at a below-market price because you have to
meet a purchase deadline. If you have already sold your home, you
can buy a new one with no strings attached. If you do get a tempting
offer on your home but have not made significant headway on finding
a new home, you might want to put in a contingency clause that gives
you reasonable time to find a home to buy. If the market is slow and
you find your home is not selling as quickly as you anticipated,
another option could be to rent out your home and put it on the
market at a later date. This can be particularly effective if you
are selling a smaller start-up home. You’ll have to investigate the
tax requirements if you choose this latter option. Better still,
find a way to eliminate the situation altogether by getting your
agent to guarantee the sale of your present home.
Be sure to get pre-approved for a loan before the process of
buying and selling begins. There is never a cost or obligation
involved with getting pre-approved for a loan and it will give you a
significant advantage when you put an offer on the home you want to
purchase. A pre-approved buyer will always look better to a seller
than one who does not yet have financial backing.
Your biggest decision when buying and selling is deciding which
to do first. Look for Guaranteed Trade-Up programs with your real
estate agent. This means that if you find a new home before your
current home is sold, the agent will buy your home from you in order
to make your move hassle free.
With two transactions to coordinate together and with all the
people involved in buying and selling homes, the chances of mix-ups
and miscommunication increase dramatically. To avoid this be sure to
work as closely as possible with your real estate agent.
Choosing your Agent wisely. Any agent will show enthusiasm
and will want to list your house for sale but choose your agent
based upon:
- Experience at listing and marketing houses for sale.
- Ability to use technology to market your house world
wide to buyers 24/7.
- Reviewing with you a comprehensive Marketing Analysis
of home sales in your area.
- Ability to offer a written detailed 30-DAY MARKETING
PLAN that will get your house sold at the highest possible price.
Working with a full-time professional real estate agent is a
must. Choose your agent by asking questions of them. Find out
how knowledgeable they are about houses currently for sale in your
price range and also of houses that have recently sold. Can your
agent recommend a good lender that has the reputation of excellent
customer service and low rates to assist your new buyer with
financing? A good listing agent can get your house sold quickly at
TOP DOLLAR and help you find a new home.
