In my many years as a real estate professional I have had to utter these words many times “You will NOT be Homeless.” Why? Because as a seller, moving from one home to another, you cannot imagine how to sell your home, find a new home that fits your family and not go broke, have a nervous breakdown or be homeless. Moving is a daunting task but a professional Realtor can help you navigate the rough waters while keeping your sanity and a roof over your head.usps liteblue If you must have the money from the proceeds of your current home before you buy another “Don’t Put the Cart before the Horse.” In other words, there is a process here that if you follow it will work for you, too.
How to Sell Your Home
- Find a Realtor. The contract is long and the business of it all can be tricky. You need an experienced professional on your side who is not invested emotionally. Ask your friends and family who they trust. If you are moving to a new area try to find a Certified Residential Specialist (CRS) to help you. Talk to more than one person and ask questions. Here is a list of questions to ask potential realtors. (INSERT LINK) He or she will be working for you and should be helpful and listen to your needs.
- Evaluate financing. Your Realtor can recommend lenders for you to call to find out key details to know how much money you will need. There are many moving parts, especially when using equity in the current home for the new home purchase. You will need to know the sales price you qualify for, the estimated down payment, the estimated monthly note and any reserves you need on hand. Gather your W2s, pay stubs and last two years’ tax returns for this meeting.
- Make your home ready to market. Here are the top 9 tips to stage your home that you will need to get your home ready to market.
- Price it Correctly. Your agent can provide comparable sales in your area. Looking at the homes similar to yours in your immediate area that have SOLD (not sitting on market) in the past 6-12 months will give you the best idea of value. Do no rely on a Computer Valuation Model (think Zestimate) to help you figure out your homes worth because they can be unreliable. One very high or low sale can vastly skew the computer generated number.
- Start your search online. Yes, I know you probably did that a long time ago but now is the right time to start looking at areas, neighborhoods but not yet specific houses.
- List your home for Sale. MLS, photos, virtual tour, open houses, the whole shebang. Roll it out. The first 30 days are the most important and will give you a great idea if pricing, condition and marketing are on point.
- Go out and see some homes. Don’t fall in love just yet but take a look at some in person. If you find the one you LOVE at this point it is best to wait until you have an offer and yours first and you can have your agent check if the seller is open to a contract contingent upon the closing of yours.
- Negotiate the contracts. Your agent will be able to help you figure out the timing of it all. You should be able to Remember to give yourself some time to get out of your home after closing but before possession (48-72 hours is the norm)
- Have a backup plan. What if your house has a contract and you can’t find the perfect home immediately. Can you stay with your family? Rent an apartment short term? Rent your home back from your buyers for a couple of months. All options worth exploring.
- Move In Your New Home. Believe it or not, this WILL happen. Most likely you will find a home you love as soon as you get a contract on yours. It happens every day. Then you can sit back and relax in your new dream home and enjoy!