Home | Featured Listings | Search Homes | Tips:  Buyer   /  Seller | About Piper's Landing | Financing | Contact Us

Tips for Selling Your Home

What You Should Know Before Marketing Your Home

1. What is your present home worth? In order to determine your purchase power for a new home, you might start with learning what the equity level is in the home you are in. Enlist the services of your local real estate agents to get a study on the property values of homes similar to yours in your area. Working with an agent should give you some updated information as to the activity and range of sales in the last 6 months taken from the multiple listing information in your area. You can also pay for a fee appraisal done by a local appraiser. Both reports can yield the information you will need to determine the next several steps.

2. This step is one of the most important, as it determines your current purchase power. Set up a "pre-qualifying" appointment with a reputable lender to review your current income and debt service. By working with the current interest rates, your present equity position, savings and income potential, your lender can protect the amount of mortgage you can apply for.

3. Review with your agent the price range of homes you will be looking for. Assuming you will need someplace to move, please invest the time and learn the market to which you are considering. Schools, transportation, proposed assessments, neighborhoods, park systems, taxes, and shopping may be considerations to qualify just where you live. If you are working with an agent, review costs of selling and purchase to minimize any surprises later.

4. Contact an attorney that deals primarily with real estate in your area. You will want to consider legal representation and counseling, especially if you are considering new construction or a condominium purchase. You will also want guidelines on coordinating both home closings to insure the transfer of funds is done smoothly.

5. Interview a few of the house inspection services in your town. It is increasingly important for the protection of both you as the buyer and you as the seller to employ a service to check out the premises you intend to purchase as a condition to buying. Unless you are prepared to climb the roof, crawl the crawl space and come prepared with moisture meters, and other gadgets, leave the work to a respected professional. The service is often reasonable and a cheap price for peace of mind.

6. Pack it up, clean it up, and ship it out! All that "stuff" that has been collecting in the garage, basement and hidden closets finally needs to be dealt with. Garage sales, resale shops and charities are pleased to take your no longer needed items. Streamlining your home for professional home showings is needed when you have an honest commitment to sell. Your local real estate agent can offer staging suggestions and even a "home preparation" guide for your personal instruction on how your home should show once it is on the market.

7. Purchasing before you sell your home really depends on several things. How quickly do homes sell in your area? Do you qualify for a bridge loan if your home does not close before your new purchase? How realistic is your selling price? IF you are counting on every cent from your home sale to purchase another, you may be setting yourself up for financial difficulties. Better to leave some flexibility in the event the market changes or interest rates very enough to change your ability to pay for your new home. Consider using a contingency purchase to avoid the double mortgage syndrome whenever possible. The "spring" market happens way before the spring calendar shows. If you are considering a move, begin your homework right away!

Next---> Create a Lasting First Impression