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Important Things You Need To Do Before Selling Your Home

April 23, 2012 | Comments: 0 | Views: 133

Prior to repairing and staging your home for sale or making a schedule for an open house, it would be a smart decision to create a home selling plan beforehand. Just like in buying a home, selling your property can be an overwhelming moment for any person therefore it is important that you create a well-planned selling strategy to make sure that you get the most from your property.

1. Know Your Drive for Selling

Identify your reasons why you are selling. Every seller has their own reason why they want to sell their property. Some people sell their property because they need a money for their new home, some have decided to sell their homes because they need to liquidate their assets and others make home selling a means of creating profit or income. How about you? What motivates you to sell your home?

Lack of drive for selling could lead to a big disappointment for you. So, you better start exploring in yourself why you need to make a sell and what steps you need to take achieve it.

2. Acquiring a New Home

Most often, people sell their current homes to move in or relocate in another place. And use the money they get from the sale to purchase another home. Create a list of neighborhoods where you may want to relocate and visit them one by one. Go to open houses and look for your prospect homes. Also, check the price of newer homes compared to older homes. Start to evaluate and compare the advantages and downsides that you can get from selecting a new home or old home.

3. Contact Real Estate Agents

Seek for the assistance of real estate agents. Ensure that they really have the experience and proficiency in selling homes. Also, it is necessary that they really know that ins and outs of the market. Before you hire an agent, ask them first to provide you a marketing plan that elucidates what steps they will undertake to market your home. Furthermore, ask the agents to do a comparative market analysis for you and come up with recommendations about:

-Preparing Your Home for Sale

Compare their proposals and choose the most attainable and great advice. Make sure that they come up with the brightest idea on how to prepare your home for sale without costing too much money.

-Repairs Prior to Selling

Not at all times a home owner sell their homes at a high value after they have fixed and repaired their homes. So, you don't need to spend a lot of money in enhancing the structures of your home but you need not to fix those obvious maintenance issues in your home.

-Home Staging

You can perform the staging of your home yourself to cut the cost in hiring a professional stager, but if you are not confident that you can stage it properly you can hire a home stager. Staging your home is a step that you should not skip before selling your home because you will attract more home buyers to come over to your home and eventually purchase it at the price the price that you want.

-Pricing Your Home

Do not pick an agent based on the market's suggested selling price because some will overbid each other only to get the listing. On the contrary, do not overprice. Homes that are too expensive usually sell for less than what it really worth.

-Net Profit from Selling

Let your agents prepare two net sheets, one for the low price and the other for the high price. This will help you see the future consequences of the transactions.

4. Look For A Lender

First, call your present lender to know how much you still need to payoff. You must ask for a beneficiary statement. Afterwards, check out new financing offers from the lending institutions and credit unions that you know. Ask for a Good Faith Estimate or GFE. Compare rates and fees of each mortgage loan types and choose wisely.

5. Sell First Your Home Before Buying A New One

Home sellers who are planning to relocate yet do not have the sufficient budget often being caught in the dilemma whether they want to buy a new house first or have their house sold first before buying a new one. You might have attempted to look for new homes and have been tempted to purchase a new one before you sold your old home. But, I tell you that it is always more profitable to sell home before purchasing another one.

Jason aims to help and educate home seekers on how to find the perfect homes MN for sale by imparting his knowledge. To learn more about real estate and homes for sale visit by offering the use of MLS MN.

Source: EzineArticles
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