subject: Properties In Durbanville: 6 Mistakes When Trading Up #4 [print this page] 6 Mistakes to Avoid When Trading Up to a Larger Home
Introduction:
Unlike the experience of buying a first home, when you are looking to move up, there are certain factors that can complicate the situation.
It is very important to consider all of these issues before you list your properties in Durbanville for sale.
Not only is there the issue of financing to consider, but you also have to sell your existing home in order to trade up to a bigger home.
You need to sell your existing properties in Durbanville at exactly the right time to make this whole process work.
Also, you have to have the necessary finance to ensure the whole process runs smoothly.
The biggest dilemma could also be where you possibly own two properties in Durbanville at the same time (which is not always the best thing to do) or where you can actually have no home to stay in at all while the registrations are in process.
4. Failing to get a pre-approved bond
Pre-approval is a very simple process that many homeowners fail to take advantage of.
While it does not cost or obligate you to anything, pre-approval gives you a significant advantage when you put an offer on the home you want to purchase because you know exactly how much house you can afford, and you already have the green light from your lending institution.
With a pre-approved bond, your offer will be viewed far more favourably by a seller - sometimes even if it is a little lower than another offer that is contingent on financing.
Do not fail to take this important step.
5. Getting caught in the Real Estate Catch 22
Your biggest dilemma when buying and selling is deciding which to do first.
Point number 3 above advises you to sell first.
However, there are ways to eliminate this dilemma altogether.
Some agents offer a Guaranteed Sale Trade-Up Program that actually takes the problem away from you entirely by guaranteeing the sale of your present home before you take possession of your next one.
If you find a home you wish to purchase and have not sold your current home yet, they will buy your home from you themselves so you can make your move free of stress and worry.
For further information on properties in Durbanville, contact Pieter Kotze on 083 260 1932, or e-mail him at pieter@pieterkotze.co.za
