It is extremely important to be clear about the motives and reasons for moving, how much money you expect to receive from the sale and how much you need to pay the mortgage or to acquire a new property and the time it will take to carry out these activities.
Working with a true professional will provide you with advice on each of these points.
A common mistake that sellers make is estimating the sale value of the property based on the prices that neighbors are asking, that is, on those properties that have not yet been sold. The real estate advisor should be able to provide comparables based on properties that were sold in the last 3 to 6 months.
Before Putting Your Home For Sale
Before putting your home up for sale, make some important decisions and take the appropriate action to increase your chances of selling the property quickly and for the best price.
Financial decisions:
Make these financial decisions before putting your home on the market:
- If you plan to buy another home and have money from the sale of your current property, include a contingency in the offer. That is, specify in the contract that the purchase of the home depends on the sale of your current property. If by chance you cannot sell your home, you will not be obliged to buy the other one.
- Make sure you qualify for financing if you are purchasing another property.
- Be aggressive in your sales price. Don’t waste time offering it at a much higher price than the market can pay. The only thing you can do with this is help your neighbor sell theirs fast!
- If you are working with a real estate agent, make sure you understand and agree to the compensation plan.
- Have a list of items you want to sell and a list of items you don’t want to sell. There are two reasons for making this list. Firstly, the buyer may assume that there are items included in the sale, such as curtains, lamps or fixed furniture. To avoid complications that could delay the sale, specify what is excluded and what is included in the sale. Second, the buyer may be willing to purchase items from your home, such as paintings or furniture. You will make a more objective decision about what you want to keep and what the value of the property is, if you think about it before being pressured to sell the property.
