Before you do one thing as you prepare to sell your Windsor home, make sure you have a plan. Much like a game plan, it’s a smart idea to prepare a list before you even put a sign up in your front yard.
Many home sellers make a very costly mistake when trying to sell their property. They rush into it. They don’t think everything through and are shocked when they don’t receive top dollar for their home. What I like to ask clients is why they are selling. Maybe the house is too much of a financial burden, maybe it’s time to downsize. Perhaps you need a larger home for your growing family. If you can’t really think of a reason why you want to sell your home, then maybe you aren’t ready. Again, it takes work to sell a property. Not only must you prepare it, but you have to be willing to let lots of buyers roam through your house, sometimes at a moments notice. The house needs to be spotless the entire time it’s on the market, then once an offer is accepted, you will have inspectors, appraisers and all sorts of things going on. So selling a home is not for those that really aren’t sure they want to or not.
Most people that want to sell their home usually have another home in mind that they want to buy. When you really know for sure that you want to move, here is a suggested list you may want to follow:
1. Call a real estate agent:
- Interview at least three agents. Ask to see their marketing plan, and have them prepare a complete comparative market analysis for you. Walk with them throughout your home and get their ideas on the following:
- Preparing your home for sale: Are the walls too dark? Should the furniture be arranged differently? Remember, agents know what buyers are looking for. They will make many suggestions based on what is selling. Listen to their ideas. While you may balk at painting your favourite purple room a neutral color, this will appeal to a wide range of buyers.
- Repairing your home: You may not notice the dripping faucet, but your buyers will and most certainly your real estate agent will! Hard wood floors need a coat of finish? Buyers take note of that as well. Your real estate agent should have some good suggestions on what can make your home sell and what repairs are necessary.
- Home staging: Does your home need a professional stager? Maybe it just needs some suggestions from one or perhaps you and your agent can stage it yourself. Believe it or not, it’s not extremely difficult to do, but it makes a huge difference.
- Home pricing: I don’t know how many times I must repeat this, but don’t go with the agent that gives you an inflated price on your home. Even if it sounds too good true to be true to you and it is thousands and thousands above what other real estate agents are quoting, then you need to know that chances are, it’s too good to be true. Some agents will say anything to get your business while knowing very well you will never get an inflated price for your home.
2. Find a lender:
- Call your lender and find out how much you need to pay off your loan.
- Call and get pre-approved for a loan for your next property.
- Compare interest rates and loan.
The reason is that you have an idea what you can afford, even if you sell your home for a lower price.
3. Sell First Before Buying
Some sellers assume their property will sell quickly. While this is nice, it isn’t often the case. Also, there could be problems that a buyer for your property may have during escrow. They may end up not qualifying, the inspection can go sour and the home has lots of repairs. They can even walk away. So sell your home to avoid any stress and the possibility of paying two mortgages.
Again, as you can see, it takes some work to sell a home. Preparing it for sale, working with mortgage companies all while looking at other properties can be a long process. My best advice: Price your home well, clean and de-clutter, make needed repairs and make sure your agent has a good marketing problem. When all of these come together, then there is a very good chance your home will sell quickly and you are ready to move forward.