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There are a few unexpected costs and chores that arise during the home selling process. We like to prepare our sellers up front so you know exactly what to expect when selling your home.
There are a few unexpected costs and chores that arise during the home selling process. We like to prepare our sellers up front so you know exactly what to expect when selling your home.
The first thing I recommend is getting a seller’s net sheet from your broker. This sheet takes your mortgage, any back taxes you may owe on the property, and common closing fees so you know how much money you will get from your home sale. For example, if you sell your home for $100,000 and you know that there will be $20,000 in closing costs, you can expect to net $80,000 to put towards your next home.
The next thing you should do is get pre-approved for a mortgage. Get pre-approved before you even put your current home on the market. If you wait to get the pre-approval after you accept an offer, things may come up that change the loan amount. For example, there might have been some changes in your credit score, income, or debt-to-income ratio.
Once you have your finances in order, you can make the home market-ready for the season and the competition. When my team and I come to your property, we look at everything from paint color to foundation issues. There can be a lot of issues in a property that add up to a big cost at the end of the day.
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A fresh coat of paint does wonders for any property.
”Most houses don’t need a lot of work, so don’t worry. However, even if your home is only 5 years young, we do recommend adding a fresh coat of paint. Fresh paint does wonders for the house and helps net you more money.
You should also consider staging your home. Every property should be depersonalized, so take down any family pictures or things of that nature. You want the buyer to look at your home, not your stuff. Sometimes, further staging is needed.
For example, if you have overstuffed couches or a dining room set for 12, your home might look small and cramped. Get rid of the couch and take a leaf out of the table so that it only seats six and your home will look more spacious and inviting.
If you have any questions about preparing your home for the market, give us a call or send us an email. We would be happy to help you.
