There are  several things that need to be decided when you are wanting to sell your home. Before showing your home to potential buyers it is important that you take the necessary steps to prepare it to be listed on the market. Impulsive sellers lose money when it comes to selling their home because they are only worried about making the sale. Home selling mistakes cause a loss in potential revenue.

Selling

You need to fully evaluate your reasons for selling your home. All homeowners have reasons behind wanting to sell. A home is a huge investment, and there has to be some kind of motivation behind wanting to list it on the market. Otherwise, what is the purpose of getting rid of it? Always think through the whole process or you could end up highly disappointed.

Buying

Typically, the reason for selling a home is to purchase another one. In order to get an idea of what your overall plan is, you should make a list of potential neighborhoods that you would like to live in. Take time to thoroughly check these areas out and attend open houses. Compare prices on newer and older home, and weight the options between the two. This may make you rethink selling your home.

Real Estate Agents

Seek the help of real estate agents, but don’t go with the first one you find. Take the time to interview several agents to find the one that you feel comfortable with. Ask each of them to provide you with a marketing plan to explain how they will approach selling your home. You should also inquire about a marketing analysis.

There are 5 key factors you should ask for advice on. These include, preparing your home for sale, repairs to be made, staging your home, pricing, and a figure that will show the high/low selling net profit. These are factors that will help you determine which agent will best suit your needs when it comes to selling your home.

Lenders

You should always call your current lender to find out the payoff of the home. Ask for a beneficiary statement. Then begin to collect information on new home financing through various lenders and credit unions. When collecting quotes make sure to ask for a Good faith Estimate. Once you have obtained several quotes, take the time to compare all rates and fees that are associated with getting a loan on a new home.  It is also smart to ask to be referred to a mortgage broker. They sometimes have the advantage of getting discounted rates because they are more competitive.

Once you have decided on a lender, obtain a loan preapproval letter from your top choice. This will help you know exactly how much you are qualified to borrow. There is no need to apply for the maximum mortgage, because a lower mortgage payment will bring more comfort in the long run. Also, compare all the different types of mortgages that are available.

Sell Before Buying

Once your home is listed on the market, avoid jumping into looking for a new home right away. This will make you want to proactively start attending open houses, which could result in you taking a loss on your current home because you have found another. It is always better to sale your home first before looking to buy another. This will ensure that you get the full value of what your home is worth.

If you are ready to get out from under your current home, and do not wish to take these necessary steps, I have options for you. I buy homes and could offer you a short sell option. Call me today to go over the benefits of a short sale..

 

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