There are a million different reasons why people sell their homes, but every seller has one thing in common: the desire to get as much money as possible from their existing residence as quickly and as hassle-free as possible. (If your home is your principal residence, you won’t have to pay capital gains tax on any profits from the sale. If, on the other hand, it is an investment property, prepare for the tax man!)
Before you begin the selling process, really evaluate why you’re moving. Do you have too few rooms, or too many? Has your job moved to another city and you’re relocating? Are the neighbors driving you away? Or are you simply looking for a change? A complete analysis of your current position will set a good foundation for your next home hunt.
Buy or Sell First – sellers information?
Buy or sell first? That’s tricky. After all, if you find a purchaser for your existing home, before you’ve found a new one, you may find yourself living out of a suitcase if convenient closing dates cannot be negotiated. On the other hand, if you find your dream home before you’ve unloaded your old one, you may be faced with carrying two mortgages for a time.
So how do you manage? Easy. Do your homework and have a good idea about the neighborhood and type of home you’re looking for. Do an honest evaluation of your family’s needs and budget?
Speak to your Sales Representative and start your new home search as soon as your existing home hits the market.
If you’ve found a home, before you’ve sold your existing one, use “sale of your existing home” as a condition on your offer. If you don’t sell your house within a fixed period of time, you can choose not to go through with the offer. This, however, is a difficult condition for many vendors to agree upon and you may find that you have to forgo your price negotiating power.
Purchasing a home before you sell could be a risky strategy if you’re counting on the proceeds from the sale.
If you’ve found a purchaser before you’ve found your next home, use “purchase of a new home” as a condition when you sign back the agreement. Again, it will only be for a fixed time. Even if you have not found the ideal next house by the time the deal closes, you may still wish to proceed with the offer. As a buyer with a “sold house” you will be in a better position to negotiate price.
Hire a real estate agency
Many people are against real estate agencies which is a big mistake. Even though they take a percentage of a sale, the real estate agencies facilitate this entire process. However, if you want to sell your property, then you need to find a reliable and reputable realtor that will protect your interest and help you get the best price.
But, before you make a final decision, make sure to interview a couple of agencies to find the best match. See what kind of services are they offering and whether they can help you will all the paperwork. A real estate agent needs to have the necessary knowledge and skills for this business. In other words, to sense when is the right time to sell the property. It’s crucial to find the best team and people you will feel comfortable working with.
Think about updating your home
Many homeowners upgrade their properties to increase their value. However, if your home needs too much work, think about whether it’s the worth of price.
You can make small adjustments, to make your house or property look more appealing, without investing too much money. Hire a contractor who can perform an estimate and tell you exactly what you are dealing with before you even think about remodeling.
For instance, you can paint the wall, fix outdated faucets, replace door handles and update lights. These small improvements will make a tremendous impact in your home and make it easier to sell.