It is crucial to clearly understand your motives and reasons for moving, how much money you expect to receive from the sale, how much you need to pay off the mortgage or purchase a new property, and the time it will take to accomplish these activities.
Working with a true professional will provide you with guidance on each of these points.
A common mistake sellers make is estimating the selling price of the property based on the prices neighbors are asking for, that is, those properties that have not yet been sold. The real estate advisor should be able to provide comparables based on properties that sold in the last 3 to 6 months.
Before Listing Your Home
Before listing your home, make some important decisions and take appropriate actions to increase the chances of selling the property quickly and at the best price.
Financial Decisions:
Make these financial decisions before listing the home:
1. If you plan to buy another home and rely on the money from the sale of your current property, include a contingency in the offer. Specify in the contract that the purchase of the home depends on the sale of your current property. If you are unable to sell your home, you will not be obligated to buy the other one.
2. Ensure you qualify for financing if you are going to buy another property.
3. Be aggressive with the selling price. Do not waste time offering it at a much higher price than the market can bear. The only thing you might achieve with this is helping your neighbor sell theirs quickly!
4. If you are working with a real estate agent, make sure you understand and agree with the compensation plan.
5. Have a list of items you want to sell and a list of those you do not want to sell. There are two reasons for making this list. First, the buyer might assume there are items included in the sale, such as curtains, lamps, or fixed furniture. To avoid complications that could delay the sale, specify what is excluded and what is included in the sale. Second, the buyer might be willing to buy items from your home, such as paintings or furniture. You will make a more objective decision about what you want to keep and the value of the goods if you think about it before being pressured by the sale of the property.
Enrique Vicente Urdaneta
Real Estate Advisor | eXp Realty | EVU Luxury Homes
305.209.6418
www.instagram.com/evuluxuryhomes
Disclaimer: The information presented in this article is intended to provide a general understanding of the topic. However, please note that I am a real estate agent, not a lawyer, accountant, tax, or financial advisor. This content should not be taken as legal, tax, accounting, or financial advice. The laws and regulations related to this topic can be complex and may change or expand in the future. Therefore, it is crucial to consult with a qualified professional, such as a specialized financial or tax advisor, before making any decision based on this information. As a real estate agent, I can provide various options and professional guidance related to the real estate aspects of your investment strategy, and for matters related to tax implications, legal issues, and financial planning, please consult with the appropriate professionals, which whom I have allies I can refer.
