These are the important steps all our home sellers will take before we present their homes to the buying
market. Our experience has shown that every bit of prep work we do together will get you the most return
from your investment.
SPEAK TO US ABOUT HOW WE CAN HELP YOU BRIDGE THIS EXPENSE.
LET YOUR SALES PRICE PAY FOR IMPROVEMENTS.
1. Talk to a lender about a bridge mortgage.
Even if you are planning on making your next home a cash purchase from the proceeds of your current
home, circumstances may occur that may hinder the purchasing process.
Start by looking at two types of homes: one that matches the criteria of the one you'd like to buy and
another that is similar to your current home. How do the two categories compare in price? Can you handle
the difference if you're planning a step up? We can present to you a Comparable Market Analysis for
both your present home, and for your future home.
So before you decide to put your home up on the market, talk to a lender in the area you wish to live in and
get pre-approved. This way you will know how much you will need for your new-home purchase. Allow us to
introduce you to our list of trusted and dedicated mortgage brokers they will assist you with your financing
needs. If your area of movement is within our coverage let us be your buying agents so that we can
negotiate your purchase.
2. Check your mortgage payoff.
Call your lender to check the payoff for your current home mortgage. If you have already satisfied your
mortgage you should be in possession of your deed.
3. Determine how much your house will be worth upon entering the sale market.
Determine your home's fair market value. We, as your agents, will help you determine this value as a
courtesy.
4. Estimate Your Costs to Sell
* Real estate agent commission.
* Attorney, closing agent and other professional fees. Within our coverage areas, we have attorneys who
specialize in real estate.
* Excise tax for the sale.
* Prorated costs for your share of annual expenses, such as property taxes, home owner association fees,
fuel tank rentals, etc.
* Any other fees typically paid by the seller in your area (surveys, inspections, etc.).
5. Estimate Costs to Buy a New Home
* Calculate moving expenses, loan costs, downpayment, home inspections, title work and title policy, paying
for a new hazard insurance policy -- all expenses related to buying a home. Your lender should give you a
disclosure of estimated costs when you apply for loan pre-approval.
6. Calculate Your Estimated Proceeds
1. Deduct your mortgage payoff from your home's fair market value.
2. Deduct your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing.
Will your closing proceeds cover your costs to buy a new home? If not, do you have cash or other funding
to make up the difference?
7. Make Necessary Repairs
Make all needed repairs unless you want the house to be regarded as a fixer-upper. I'm not referring to
cosmetic updates--just items in need of repair. Anything that's obviously broken gives potential buyers a
reason to offer you a lower price.
8. Ready The House to Show
Most houses need at least a little spiffing up before they are shown to potential buyers. Great curb appeal,
fresh paint indoors (and sometimes out), organized closets and cabinets, sparkling clean windows and
appliances and a clutter-free look are essential if you want the house to appeal to buyers.
9. Get Psyched Up to Let People In
A real estate agent, may ask you to leave when the house is shown. Why? Because lurking sellers make
buyers nervous -- they don't feel comfortable inspecting the house when they feel they are intruding in your
personal space.
Make the house accessible. That means it should always be ready to show. Many buyers won't bother
looking at a house that takes 24 hours to get into.
Sounds like a lot? Think about this. . .
You are about to enter into a market where someone wants to pay top dollar for a home - that home
should be your home.
| SELLING YOUR HOME |
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Nielsen Realty
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33-52 81st. Street,
Suite 42
Jackson Heights,
NY 11372
Tel: 718-205-9215
Fax: 718-205-9218
Suite 42
Jackson Heights,
NY 11372
Tel: 718-205-9215
Fax: 718-205-9218
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