Selling a home can be a complicated process, regardless of the market at the time. Whether this is your first sale, or you’ve been through it before, there are a lot of questions on how the process works. Why not let the professionals at Frank Smith Real Estate help you navigate through the process and make your transaction experience a smooth one?
Common questions when considering selling your home:
What is my homes value, and how can I get the best price for it?
‘Curb appeal’ can go a long way. How pictures are taken and at what time of day can show off the best features of your property. Staging the home, de-cluttering and finishing uncompleted projects. Be open and flexible to showing times, and having a “For Sale” sign in the yard, (generally still the best advertisement). Be prepared, your first offer may be the best.
How do I sell my house to purchase my dream home?
If you are able, try to put your home on the market as long as possible before buying a new one. Otherwise you may end up paying two mortgages, or a ‘bridge loan’, which is difficult to afford. Best to place your home on the market, with time to sell and priced to sell.
What if I owe more than the house is worth?
To avoid loss of your house, here are some options to explore:
- Find out if you qualify for the federal government “Making Home Affordable” program.
- Don’t hesitate. If you’re ready to sell, do it. Waiting could potentially increase your losses.
- Consider a short sale.
If you owe more on your home than it is worth and need to sell, it’s time to research all options. Consult with attorney, Frank Smith Real Estate agent, and others you may know who have been in the same situation. All can prepare you emotionally to ride out the storm. With knowledge, preparation and some luck, you will soon see light again on the horizon.
What is a short sale?
In a short sale, the proceeds from the transaction are less than the amount the Seller needs to pay the mortgage debt and the costs of selling. For this deal to close, everyone who is owed money must agree to take less or possibly no money at all. This is what makes short sales complex transactions that move slowly and often fall apart. Short sales take a lot of patience on both the selling and buying side. Being prepared, having a detailed short sale package, and a qualified short sale attorney will all make the short sale a much less unpleasant process, and get that ‘sold’ sign in your yard.
A great article to check out even though it is dated back to 2008 when the market was hit the hardest. The general points are excellent and true in any market, “How to Sell a House, When you Have to Sell It Now”.
Being part of our local community for the past 30+ years, we would love the opportunity to talk with you about selling your home and discuss further the steps involved.
Please contact Frank Smith Real Estate, Inc at (508)675-5557 for more information.
We are local, friendly and knowledgeable!