What Our Buying + Selling Process Looks Like
Are you planning to sell your home so you can buy and move into a new place?
As challenging as it may sound, these two major financial leaps shouldn’t stress you out.
In today’s article, we’ll share with you the best practices in the buying & selling process to ensure you get a good grip in the housing market for the intention of either:
- Selling your current home OR
- Buying yourself a new home.
Make A Schedule
First thing’s first, begin with planning a schedule on when you plan to sell and buy your home.
In this step, it is best to consult with an experienced and professional real estate agent who can help you understand the best practices for buying and selling your home in the housing market.
Your real estate agent may also help you understand the current real estate trends or even help you decide how much you should sell your existing home to earn a profit for your new home.
Once you’ve understood the fundamentals, try to discuss the following with your real estate agent:
- What’s my ideal timeline?
- When should I start looking for a new home?
- How long will the home-buying process take?
- Which properties can I afford?
- How much will the down payment of buying a new home cost me?
- How soon can I make the transition of moving into my new home (between closing the sale of the current home to the move-in date.)
Start Preparing Your Home For Selling
Once you’re done seeking your real estate agent’s advice, you’re now ready to put your home in the housing market.
Here are some of the necessary steps you need to take to prepare your home for listings:
- Coordinate with your real estate agent: Try to find out your agent’s track record in selling homes. It’s also best if you figure out if your agent specializes in selling properties within your area, as well as their success rate in closing deals. All these will help you become more confident with the agent you’re working with. If otherwise, feel free to scout for a top-notch agent.
- Start working with a home inspector: Before putting your home out for listings, make sure you hire a home inspector to check if your current house needs any repairs. Fixing these issues will help you work within a strict timeline and achieve your goal in no time.
- Stage your home: Once you’ve completed checking and fixing issues within your property, it’s high time you improve its aesthetics by getting your home staged professionally. Staging your home will help create a warm and welcoming atmosphere for potential buyers, which will help them visualize living in it better. Don’t forget to hire a professional cleaning service to ensure all the spaces are spotlessly clean too.
- Price your home: When pricing your home, remember that pricing it too high might discourage potential buyers. Set a price that would appeal to your market. Your real estate agent can help you study competitors to explain how much other homes like yours within the area cost.
Sell Your Home
Once you’ve completed all the steps to prepare your home, you’re now ready and confident to sell it.
Your agent can finally get it into listings, so he/she may start scheduling showings and home tours. Your real estate agent can also help you decide on offers and negotiations that will profit you, and fit your timeline.
Fill In The Gaps Between Selling And Buying A New Home
At this point, you will have a more precise timeline between the close of the sale to buying your new home.
But suppose you haven’t sold your home yet, you might need to work on looking for a temporary place to stay.
Considering this situation, make sure to exert your efforts in marketing your home. With your real estate agent’s help, you can build online ads for your house or even post them on real estate websites.
Buying Your Next Home
Congratulations! Now that you’ve finally sold your old home, you may now move forward into buying your next home.
Here are some of the things you need to consider when purchasing your new place:
- Identify how much the down payment would cost you. You may get this from your savings or from the amount you’ve sold your old home for.
- Get yourself a pre-approved mortgage.
- Get your financing pre-approved.
- Find yourself a homebuyer’s real estate agent. Or, you may choose to work with the same agent who helped you sell your home.
Selling and buying homes may be a long journey. But at the end of the day, all it takes is a little patience, determination, hard work, and a professional real estate agent who can assist you through the whole process.
Follow these buying and selling processes, and you’ll be ready to achieve your real estate goals in no time.