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SELLERS: Moving Up To A Larger Home? Avoid These Mistakes!
Unlike the experience of buying a home for the first time,
when you are looking to move up and already own a home, there are certain
factors that you must consider. It’s
very important you evaluate these factors before you list your home for sale.
Not only is there the issue of
financing to consider, but also the fact that you have to sell your present
home at exactly the right time in order to avoid the financial burden of owning
two homes or, just as bad, having no place to live during the gap between
Most of us dream of improving our
lifestyle and moving up to a larger home.
The problem is that there’s sometimes a discrepancy between our hearts
and our bank accounts. You drive by a
home that you fall in love with only to find that it has already sold or the
asking price is way too high. Most
homeowners get caught in this hit or miss strategy of house-hunting when there
is a much easier way to go about the process.
Your first move is to meet with a competent agent and discuss the sale
of your house and necessary improvements to make. How much you will net from your sale will
determine what you can purchase. Look at
a few homes to get a general idea of availability so when you are ready to buy,
you can do so quickly.
If you want to get the best price for
the home you are already selling, there are certain things you must do to
enhance its salability. The repairs and
alterations don’t have to be expensive. Even
making minor investments can come back to you ten-fold in the price you are
able to realize. Making minor
improvements must be done before the house is put on the market in order to
attain top dollar for your home.
You should plan to sell before you buy. This way you will not find yourself at a
disadvantage when seated at the negotiating table feeling pressure to sell at a
below-market price because you have to meet a purchase deadline. If you have already sold your home, you can
buy a new one with no strings attached.
If you do get a tempting offer on your home but have not made
significant headway on finding a new home, you might want to put in a
contingency clause that gives you reasonable time to find a home to buy. If the market is slow and you find your home
is not selling as quickly as you anticipated, another option could be to rent
out your home and put it on the market at a later date. This can be particularly effective if you are
selling a smaller start-up home. You’ll
have to investigate the tax requirements if you choose this latter option. Better still, find a way to eliminate the
situation altogether by getting your agent to guarantee the sale of your
Be sure to get pre-approved for a
loan before the process of buying and selling begins. There is never a cost or obligation involved
with getting pre-approved for a loan and it will give you a significant
advantage when you put an offer on the home you want to purchase. A pre-approved buyer will always look better
to a seller than one who does not yet have financial backing.
Your biggest decision when buying and
selling is deciding which to do first.
Look for Guaranteed Trade-Up programs with your real estate agent. This means that if you find a new home before
your current home is sold, the agent will buy your home from you in order to
make your move hassle free.
With two transactions to coordinate
together and with all the people involved in buying and selling homes, the
chances of mix-ups and miscommunication increase dramatically. To avoid this be sure to work as closely as
possible with your real estate agent.
your Agent wisely. Any agent will show
enthusiasm and will want to list your house for sale but choose your agent
Experience at listing
and marketing houses for sale.
Ability to use
technology to market your house world wide to buyers 24/7.
Reviewing with you a
comprehensive Marketing Analysis of home sales in your area.
Ability to offer a
written detailed 30-DAY
MARKETING PLAN that will get your
house sold at the highest possible price.
with a full-time professional real estate agent is a must. Choose your agent by asking questions of
them. Find out how knowledgeable they
are about houses currently for sale in your price range and also of houses that
have recently sold. Can your agent recommend a good lender
that has the reputation of
and low rates to assist your new buyer with financing? A good listing agent can get your house sold
quickly at TOP DOLLAR and help you find a new home.
Thank you for requesting a copy of
this “FREE REPORT”
For prompt, courteous, professional
service, call Jan Wilson:
Have questions, need advice you can
count on or just want to discuss this further?
Don’t waste any more time; pick up
the phone and call me now! I’m here to
P.S. I appreciate
your business, your loyalty, trust and your referrals. It is my goal to provide
the very best counsel, advice and service possible for your real estate needs.
If I may ever be of assistance to you, a relative, friend or co-worker please
don’t hesitate to call me. I look forward to the opportunity to serve you.™