5 Crucial Steps Before Home Selling
5 Crucial Steps Before Home Selling – It is wise to create a home selling plan before you start making repairs, renovations, selling your home or setting the dates on your calendar. Although, your aim is to sell your home at its highest possible value, you should also think about how to avoid costly selling mistakes during the selling process.
1. Motivation to sell
Understand your reason for selling. Maybe you just woke up one morning and feel you want to move to the other side of the town. If you are not that really committed or motivated to selling, then you are setting yourself up for a big disappointment. You need to completely think the process through and know for sure that you are ready to sell.
2. Buy A New Home
You may want to sell your home to buy a new one. If so, create a list of neighbourhoods where you want to live in and visit each one. Attend open houses and compare the prices of newer homes with older homes. Weigh your options carefully. You may realize that you do not want to sell your home after all.
3. Contact Real Estate Agents
Communicate with several real estate agents, at least three in the particular neighbourhood. Require each agent to provide you with a marketing plan showing their strategies to market your home. Additionally, ask the agents to formulate a comparative analysis for you and ask for tips on:
Preparing the Sale of Your Home – Compare the suggestions of various agents and choose the advice that works best with your needs.
Repairs Before Selling – Not all repairs and renovations will pay off. Make sure not to overspend on repairs and improvements. Focus on repairing the most obvious maintenance issues.
Home Staging – You can choose to hire a professional home stager, seek assistance from your agent or do the home staging yourself.
Home Pricing – Do not select an agent just because the agent accepted your suggested sales price. There are agents that accept a listing even though they know the home is overpriced. This is part of their game plan and will usually recommend that you lower the price after your home sits on the market for too long.
4. Find a Lender
Firstly, call your current lender to determine exactly how much you need to pay off. Request a beneficiary statement and then look into new financing offers from your lending companies and credit unions. Ask for a GFE or Good Faith Estimate and compare the rates and fees. In addition, ask for referrals from your agents for mortgage brokers. Usually, mortgage brokers are more competitive as well as know more about discount rates.
Acquire a loan preapproval letter in order to determine the amount of mortgage you can qualify for. You do not need to get the maximum mortgage. A lower mortgage payment may be less stressful in the long run. Compare various types of mortgage loans and choose wisely.
5. 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.