Ready to take the next step in purchasing a bigger home for you and your family? Maybe you are looking to downsize now that the kids have moved out – whatever your reason, it’s time to sell. There are a few things to consider though when it comes to selling.
As a homeowner, your home is your most prized possession. Depending on how long you have lived in that house, you have made some changes to personalize but also make it feel like home for you and your family. These changes cost money; therefore, when it comes to selling, a homeowner is most likely going to want to factor that in the sale price. When the time comes to pricing, don’t feel pressured to undervalue your home. While your real estate agent should have your best interest in mind, it is important to have them factor in the money that has been invested.
A homeowner does not want to sell their home for than less than it’s worth which is why, as a homeowner, it is important to do your own research and see what other homes in the area are worth.
Sellers also have a right to add clauses – for example, from ensuring that a deadline for papers to be signed. If these clauses aren’t respected, a seller has a right to deny their papers. More importantly, a seller has a right to know about the offers bring presented.
Selling a home can be exciting because it means a new chapter is about to start; therefore, it’s important to know your rights and use the people around you. From your broker to real estate agent. Remember they work with you, and while the agent will get a percentage of the cut when you sell, this is motivation for them to make sure you, as their client get the best outcome possible.
the duration for which you are planning to stay there. It is advised to buy a house only if you are planning to live there for between 2-5 years. In many places, you may find renting to be much more affordable than owning the house.
Take what experts say into consideration on whether the prices will increase or decrease. By using a home affordability calculator you can determine how much money you can spend on the purchase. Take a look different mortgage rates and then calculate a few of the basic mortgage options. You can then determine whether the rates will increases or decrease in a couple of years.
which will help you estimate different mortgage options. You can also evaluate options with a local bank or credit union. A lot of companies offer “pre-qualify” systems that help you estimate what you can afford and what you cant. This is an excellent step for evaluating the different lenders. However, it isn’t the same as pre-approving. After narrowing down your search to just a couple of lenders, you can then apply for a pre-approved mortgage with each of the companies. Every application causes a drop in your credit score, this is why it’s advisable to apply with moderation.
assurance that the professional knows what he/she is doing. Inquiring about the price range the agent has sold other properties is necessary. You need someone who knows exactly what features buyers in that specific income bracket are looking for.
his team. There are both good and bad aspects to each; for example, if you’re working with a team of agents, it makes the showings a lot easier. However specific requests which are made by the seller may go unnoticed within a team.