In my previous blog we talked about the first step involved when deciding to sell your home. Congratulations! Many people are oblivious when it comes to finding out the true value of their home. At the bottom of this blog, you will see a link to get a Free Value Report on your property if you haven’t done so already.
Once you have learned that your home value is worth selling ( at the very least have equity to cover the cost of selling a home) then you can begin the process. The next questions will be important to consider. Will you be down sizing/upsizing homes to live in the area? Or will you be selling and relocating?
If you are selling to down size or up size, then there is more things to consider with a lender before you put your home for sale. The lender will likely do some evaluating on your finances. Once the lender views your finances they can let you know whether or not you need to sell your home first in order to qualify for your next home. If you can’t handle two mortgage payments at once then you will likely be required to put your home on the market and find a buyer. Once you have an executed contract from a buyer you can begin shopping for your home. If you are fortunate enough to handle two mortgage payments at once then you can decide weather or not you wish to sell first or buy first.
If you are selling and relocating to a different area then you would want to research properties along side a local expert for the best results. In this scenario it may be wise two work with two agents at once. One in the market where you are selling and one in the market where you will be buying.
It’s important to remember that the real estate agent, the lender and you are a team. You will all be working together to plan and execute your transactions. Be upfront with your goals, listen to their professional advise and you will reap good results.
Here is a link for a Free Property Evaluation Report.
The author of this blog is Janet Davila, a local agent in the Richmond, Rosenberg, TX. Area.
firstname.lastname@example.org or 832-495-8400