subject: Before You Sell Your Home [print this page] Before Selling Your Home Before Selling Your Home
by Sameer S Panjwani
Below are some important steps you ought to take prior to you put your home on the market:
1. Home Loan Approval for your next Home
You dont really want to be signing a long term contract to offer your house before knowing if you are qualified to buy another. Your financial circumstances may have changed since your last purchase and you may not meet the criteria for the loan amount you seek. Youll get a good concept of what you can afford by acquiring a pre-approval before selling your house. You may then take the decision of whether or not it might be reasonable to sell your house at this point of time or possibly consider renting something after selling the house rather of readily buying another. Make positive you have some sort of safety protection in position in case things go wrong.
2. Determine Fair Market Value of your Home
Youd want to get the best price off your house and in the quickest time possible. However, over-pricing your residence will simply limit your chances of selling fast and under-pricing may speed up the progression but you lose out in the bargain. An agent or an appraisal service should be able to help in determining the fair market value of your home. Another way is judging by how much other houses in your neighborhood sold for. Regardless of the method, one must be used to establish the true and best value of your home to guarantee its sold in quickest time possible.
3. Estimate Cost of Selling Advertising costs, if you plan to sell home yourself.
Real estate commissions. Attorney, closing agent and different professional fees. Excise tax for the sale. Property taxes, home owner association fees, and fuel tank rentals.
4. Make Necessary Repairs
You dont want to put off a buyer because of minor repairs which you havent attended to so far. If youve determined to sell your house, its time to finish with any pending repairs you may have felt minor and unnecessary to fix up till this point of time. If repairs have to be done at basic height you should look into getting some fall protection to make sure you are safe.
5. Get the House Set to Show
Apart from repair work, youll also want to see that your property is sparkling clean and everything is organized and in its place when a buyer comes to see your place. A clutter-free environment is crucial if you want the house to lure to the buyer. You may also want to put out some miller people like beer.
