No matter what time of year you plan to sell your home, it’s always smart to have a home selling plan of action in place. Here are five decisions to contemplate prior to making any home repairs, picking your price, or planning open house events.
Everyone wants to get the most money possible out of their home sale and you are no different. But did you know that there are many costly home selling mistakes that you can make along the way? Often, the most basic questions have been overlooked, and they will cost you money! Pay attention to these five points before you decide to sell.
1. What is your Motivation for Selling?
Everybody has a reason to sell. Take the time to explore your reasons. Are you transferring to a new location? Are you downgrading house size? Was it just an idea that popped into your head one day or did someone else suggest that your house could bring in big money? Did you think… well, if someone pays me the right price, I’ll sell…? Without honestly considering your motivation level or time frame, you could be setting yourself up for failure.
2. What about Buying a New Home?
Most people who wish to sell a home are doing so with the intent of buying another home in a new location. If you have not already made this choice, put together a list of neighborhoods where you may want to live. Drive by potential areas to ensure the neighborhood and local amenities meet your needs. Always drive the back lanes and alleyways… that’s where the true ‘feel’ of the neighborhood is hidden! Where are the shopping centers, schools, buses, etc? Make a note to attend as many open houses in the neighborhood as possible to give you an idea of what is available and at what price range. In some cases, you may find the best option is to stay where you are.
3. What’s this Really going to cost me?
You may already have a thought or two on this topic, but read on anyway… There are many options available that could actually save you thousands of dollars. Talk to a Mortgage Broker first. Find out what options are available to you as far as buying or selling your current residence, and what are the best available interest rates. Why a broker? Well, they deal with every financial institution out there, including your bank. They have the open market options and recourse to get the best rates available. And best of all, you do not pay a mortgage broker any fees. They get paid by the lender- not you. A lower rate or options means lower payments. This can add up to thousands and thousands of dollars saved over the life of your mortgage.
4. Do I need to Sell Before Buying?
In most cases, a seller has already started looking for a new home at the moment their home goes on the market- and in some cases, even before that. But can you afford to buy before you sell? Most of us simply don’t qualify to own two homes at one time. Previewing new homes prior to selling yours can be frustrating, and at times, even disheartening. If your sale does not close in time, you may lose the house you recently fell in love with. Finding a home you love and then losing it can cause heartbreak and stress. You should consider avoiding this risk until you have a valid offer on your home or have discussed Bridge Financing with your lender.
5. Do I need Help?
Yes! You want to sell privately and not pay commission, but does that mean you don’t need help? Statistics have proven that most For Sale by Owners fail. Why? They simply don’t have the tools and resources needed to be successful. However, those days are over. Today, there are many For Sale By Owner programs like ”Real Estate Made Easy” offered by CanadianHomeFind.com, that allow the average person access to all the tools, techniques, and resources needed to be successful. Add to that- having an experienced FSBO professional to talk to and ask questions along the way can really make the selling process stress-free. Selling privately [FSBO] has fast become a viable way to sell for top dollar. Going it alone is a step closer to failure, so use the resources available and do it right the first time. In the end, a service like this can save you over $20,000 in agent commission fees. What will you do with those savings?
If you haven’t already, check out CanadianHomeFind’s Selling Packages. You can list your home for FREE and we’ve got the professional signage, resource materials, and proven marketing strategies to get your home SOLD.