| So you have decided to sell your home! With so much to do, it is often difficult to determine where to start. In the way of a few helpful suggestions to make the process more manageable, you might consider the following:
Do You Want to Hire a Real Estate Agent?
You may feel as though you have the time, energy, and expertise to represent yourself in a real estate transaction. In the alternative, you may wish to hire a real estate agent. The assistance of a real estate agent can be quite valuable, particularly with regard to marketing, showings, and representation during closing. In making this decision, it is important for you to make an honest evaluation of whether you would benefit from the expertise of a real estate agent. In fact, you might consider interviewing several real estate agents in making your decision.
What Is Your Home Worth?
In determining what your home is worth, you will want to obtain a current mortgage pay-off statement from your mortgage lender. Next, you must evaluate recent sales of comparable properties in your area. You may find advertisements of other homes helpful in this regard. Lastly, consider the amount of money you can expect to have in hand when the closing is complete. In order to determine your net proceeds, you must subtract the cost of selling your house and the amount you owe your mortgage lender from the estimated sale price.
What if You Plan to Buy Another Home Immediately?
If you plan to buy another home, you should order a copy of your credit report. Once you receive your credit report, review it carefully for inaccuracies and errors. A mortgage lender will evaluate your creditworthiness based on your credit report and credit score. Thus, it is important for you to make sure that your credit report is reflective of your credit history and accounts.
You should also make a careful consideration of the type of house you plan to purchase and the amount of money you will require to make the purchase, including closing costs. Ask yourself whether you will have enough money to purchase the new home you want following the sale of your present home. If not, do you have money in savings or investments to make up the difference? Lastly, you might consider contacting a mortgage lender in order to obtain pre-approval for a mortgage loan to finance the purchase of your new home.
How Can You Best Present Your Home?
Take a careful look at your home with a buyer's perspective in mind. It is important to make all necessary repairs and clean the home thoroughly. It should be spotless and free of clutter. Ask friends or family members for feedback. Your goal is to make the home appealing. Also, focus on curb appeal. Ask yourself:
- How does my home look from the inside, as well as the outside? Is it inviting and attractive?
- Are there any offensive odors, such as odors from pets or cigarette smoke?
- Is the entire home, including closets, free of clutter?
- Is the home in good repair?
Without a doubt, potential buyers form their first impressions very quickly. Invest the time in preparing your home and make a good impression on buyers!
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