Planning for your home sale:
*Your home is probably the most valuable asset you will ever own. Consider this when judging how much time and attention to invest in selling it and buying another.
*Look at your home from the street; first impressions are most important.
*Give your home “curb appeal”
*Don’t overlook signs of wear and tear that you have grown so used to you hardly notice, like:
-Overgrown shrubbery that can hide the “face” of your house
-Paint that has scuff marks, is chipped or faded
-Clutter of any kind – less is more!
Budget and complete “deferred maintenance” repairs:
*Set yourself a budget to take care of deferred maintenance, both inside and out.
*Don’t assume it’s necessary to do the whole house over!
*View these projects through “buyer’s eyes.” Get repairs made in priority order, but get them made now.
*Buyer’s agents know what matters most to buyers in today’s market. Expect them to point out these things, or lack of them, to prospective buyers of your home.
Get your home “market ready”:
*Get rid of clutter inside – throw it out, give it to charity, sell it or store it. Clean everything so it sparkles. Keep making needed repairs.
*Don’t assume that just because you love your taste in decorating that everyone else will. Use neutral colors that enable buyers to imagine what their furnishings would look like in your home.
*Decide which items in your home will stay and which you will take with you. “Fixtures,” are those things which are built in or affixed to the walls, like dishwashers and light fixtures, usually stay, unless specifically excluded (like a dining room chandelier). Appliances such as refrigerators, washers and dryers need to be spelled out as staying or leaving. The same goes for window treatments. It is best to decide and specify up front what stays and what goes.
Find the right Realtor:
*Check out experience and credentials
*Expect the process to be interactive—you are in partnership with your Realtor to achieve the best possible results. Neither of you can do this alone.
*Don’t sign a listing agreement with a relative, neighbor or friend as a favor to them, or because you’ve been pressured into it.
*Ask a lot of questions and expect your agent to be a resource for answers to any questions that come to mind. You are entitled to know what’s happening at each step of the process, and to expect feedback through your Realtor from other agents and from prospective buyers who visit your house.
*Pricing your home right FROM THE BEGINNING can make a tremendous difference in how many showings, and how many offers, you get.
*Don’t assume that if you make a few mistakes at this stage they can always be corrected later. Overpricing, or putting a home on the market before it is ready, usually results in the seller receiving less than if the suggestions above had been followed.
*As soon as it goes on the market, make sure your home gets maximum exposure to the market and to other real estate agents.
*Get yourself, your kids, and your cat or dog out of the house each and every time it is shown. Buyers need to visualize their lifestyle in your home, not yours.
Get Pre-Approved for Your Mortgage:
*When you decide to start shopping, you won’t be able to make an offer on a home you love without a pre-approval (If you want to know why, just give me a call and I’ll give you the reasons). A lender can pre-approve you for the maximum amount you could borrow – and if you decide to borrow less, that’s your decision.
*Ask lots of questions and be sure to read the fine print.
*Check into whether you can open a home equity line of credit too, so you’ll have it should you ever need it.
*Don’t underestimate the cost of “duplicate carry” – the cost of owning the new home without having completed the sale of your former home. In most markets, it’s preferable to start the sale process before you seriously look to buy.
Begin Your New Home Search:
*Gather enough information about potential new communities so that you know which ones are right for you.
*If you have children, keep in mind that school is your child’s career, and it’s often best to let your school choice influence your community choice, rather than the reverse.
*If your current home hasn’t sold yet, now is the time to re-examine your marketing strategy and implement new, more aggressive techniques to get your current home sold.
*Insurance for title to your new home, for your new home itself, for your household goods in transit, and for your furniture, furnishings, clothes and valuables all need to be planned for when you move.
*List all your property, item by item, then photograph each, as well as your current home itself, to create an inventory. Photograph your new home and any additional items you acquire as soon as you get settled in. Keep the inventory in a safe place, separate from your home, in case you need it for insurance purposes.
*Now is also a good time to make a list of all your bank and stock brokerage accounts, doctors, dentists, lawyers, schools, etc. Find out the requirements each has for transferring records.
Negotiating:
*Love it or hate it, negotiating is an integral and necessary part of the selling and buying process.
*It helps to quantify the items you are negotiating. Sometimes people get upset about something only to learn that its dollar amount is not significant in the overall transaction.
*Don’t assume that because something is said rather than written you won’t have to live with it.
*Prioritize what you want most in your new home. Some buyers find preparing a spreadsheet ranking their preferences to be helpful.
*Ask which items in your new home are included in the sale and which are not. Not only is it important information to have, but also the cost of replacing certain items may be an important part of your negotiation.
*Be sure to memorialize agreement on anything in writing – to be incorporated later into the Purchase Contract.
*If possible, try to order new appliances and furniture about 6- 8 weeks before your scheduled move into your new home, to be sure everything can be delivered by the time you move in.
Taxes:
*Certain expenses related to selling a home are tax deductible, and certain expenses of buying a home add to the tax basis of that home and can reduce your capital gain when you ultimately sell it. Therefore, it is important to review what these items are with a tax professional up front so that you create and maintain the records you will need later on.
Moving:
*Just about anyone with a truck and some muscles can get into the moving business, so be sure to check credentials and reputation in advance, not just price.
*Don’t assume that an estimate is binding unless it specifically says so.
*Have everything sorted and labeled before the cost estimator arrives at your door.
*Be sure to find out if the van line will guarantee the dates of pick-up and delivery of your goods.
*Be sure to insure your goods in transit. Full cost replacement coverage gets you closest to what you’d need to spend to replace lost or destroyed goods.
*You may own special items that you want appraised, to have a record of their value in the event of damage or loss during your move — like oriental carpets, heirloom furniture or lamps and the like.
*Keep names and phone numbers separate and with you for emergencies that could occur during your move or soon after your arrival.
*In order to be able to get settled as quickly as possible, have your furniture, drapes, linens, etc. cleaned, fresh and ready for placement before you move.
*Check what the requirements are for home and auto insurance, utilities and banks in your new location.
*Be sure not to pack items you might need between now and the time you unpack at your new home. Pack them separately and transport them in your own car. Also hand carry medical and dental records.
*Use lots of well constructed cardboard boxes to pack like items – linens with linens, sweaters with sweaters, etc. Use masking tape to label each bag. Half a bar of sweet smelling soap in each bag will help your things smell fresh at destination.
*Re-confirm pick-up and delivery dates with your mover about 2 weeks before your scheduled move. Also arrange disconnection of utilities and reconnection at your destination.
*Make special packing and shipping arrangements for costly or breakable items like chandeliers, pianos, billiard tables and antiques. Special arrangements are also needed for house plants, cars, boats or trailers. Pets need special arrangements, too, preferably by a pet transport specialist, unless they will be coming along in your car.
*Send out change of address emails or cards, and notify the post office when and where to start forwarding mail.
*Clearly mark anything that is not to be moved.
*Have your cars serviced before you move – just one more thing not to have to worry about later.
*If your mover is charging you based on weight, be there when the moving truck is weighed with your goods on it.
*Check on the items you have kept aside to carry personally on your move – items of great value that are small enough to carry yourself, important documents and information, all of your and your family’s computers, and what you, your family and your pets need to stay comfortable during the move. And HAVE A S