| Below are some important steps that most home sellers should take before listing a home. Every bit of preparation you do helps you get the most return from your investment.
Tip 1 - Get Pre-Approved for a Home Loan
Before deciding to sell your home to move into a new home, get pre-approved by a lender you trust and research the housing market in the area where you wish to live. Judy and Ken will give you a list of lenders that are familiar with the area and are offering the best loans and the best interest rates.
Judy and Ken will look for the type of real estate that best matches the type of home that you are looking for.
Tip 2 - Check Your Mortgage Payoff
Call your lender to check the payoff for your current home mortgage. You'll need the figure to complete Step 6.
Tip 3 - How Much Your House Is Worth?
Determine your home's fair market value. Ken and Judy will prepare a CMA, which stands for Comparative Market Analysis.
This will show the range in which your home will sell fastest, and at the best price.
Tip 4 - Estimate Costs to Buy Your New Home
Calculate moving expenses, loan costs, downpayment, home inspections, title work and title policy - all expenses related to buying a home. Your lender should give you a disclosure of estimated costs when you apply for loan pre-approval. Also Judy and Ken can help you.
Tip 5 - Calculate Your Estimated Proceeds
- Deduct your mortgage payoff from your home's fair market value and Judy and Ken can help with that.
- Deduct your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing.
Will your closing proceeds cover your costs to buy a new home? If not, do you have cash or other funding to make up the difference?
Tip 6 - Make Necessary Repairs
Make all needed repairs unless you want the house to be regarded as a fixer-upper. This is not referring to cosmetic updates, just items in need of repair. Anything that's obviously broken gives potential buyers a reason to offer you a lower price.
Tip 7 - Get the House Ready to Show
Most houses need at least a little spiffing up before they are shown to potential buyers.
- Great curb appeal
- A clutter free look is essential
- Remember, first impressions are important !
- fresh paint indoors (and sometimes out)
- organized closets and cabinets, sparkling clean windows and appliances and a clutter-free look are essential if you want the house to appeal to buyers.
- Get a pest inspection. Judy and Ken can set that up.
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