How to Maximize the Sale of your Home- Part 2 of 5

By
Real Estate Agent with eRealty Inc.

In case you missed part 1:  Here it is

 

Step 3:  Qualifying for a Mortgage

 

You may think I’m jumping the gun here but I’m not.  Here’s why…if you want to upgrade or purchase another home you need to review your credit and down payment requirements.  I’ve often heard sellers say,

 

Well, this place was no money down and easy to get a mortgage on so it shouldn’t be a problem to buy again…”

 

WRONG!!  If it’s been several years since you’ve purchased a home, times have changed.  You watch the news or see it all over the Internet, right?  Mortgages are available but they are tougher to qualify for.  You’re also looking at some sort of a down payment in 99% of scenarios.  If you don’t have equity, don’t have savings and don’t have decent credit, you may not be able to buy right now.  If that’s the case…stay put if you can.  Renting is your other option.

 

Step 4:  Take off the Goggles

 

DISCLAIMER: I’m guilty of this too!  I’ve lived in a dozen homes in my life and everyone gets this disorder.  When you first purchase a home you have plans or updates you want to do, right?  Time passes, life happens, money comes and goes and the goggles appear.   Repairs, updates, broken things, maintenance, etc.  You learn to live with all and it becomes a part of home.  A buyer isn’t going to see it that way.  They are going to see work!

 

You’ve got three lifelines here:  Phone a Friend, Ask an Expert or Poll the Audience

 

1.   Phone a Friend: I’d suggest calling a brutally honest friend.  Ask them to walk around making a list of everything that stands out to them as work needed.

2.   Ask an Expert:  Now is a great time to bring back the Realtor to help you wisely spend money for updates or repairs.  Use the Expert as a source of recommendations.  You don’t always have to spend a lot of $$ to create value.  Cleaning, organization, yard work, color neutralization are all great improvements.

3.   Poll the Audience:  This is NOT the way to go.  Sticking your home on the market without preparing to “See what buyers say” is not profitable.  If you’re not ready for showings, you’ll be beat up and eaten alive.  It’s competitive out there!!

 

 

Posted by

Over $45 million in sales and counting.  Buy, Sell or Invest with the best.

Happy House Hunting!

 

 

 

 

 

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Rainmaker
1,282,998
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Thanks for the Article. We learn a lot of new things on Active Rain Blogs.

Nov 15, 2009 01:01 AM #1
Rainmaker
554,458
Barb Szabo, CRS
RE/MAX Above & Beyond - Cleveland, OH
E-pro Realtor, Cleveland Ohio Homes

 

 

";;You’ve got three lifelines here:  Phone a Friend, Ask an Expert or Poll the Audience";; Love this line!

 

You are right on the money with this advice. Everyone thinks they are going to whip their home into shape the first year they live there and it hardly ever happens and the when the time comes to sell its time to pay the piper.

Nov 15, 2009 03:32 AM #2
Rainmaker
554,458
Barb Szabo, CRS
RE/MAX Above & Beyond - Cleveland, OH
E-pro Realtor, Cleveland Ohio Homes

P.S. I know you are young and your eyes are probably great but a slightly larger font would be great for your readers with older eyes:)

Nov 15, 2009 03:38 AM #3
Anonymous
CD Rates

I agree if down payment is large, it is better to opt for renting rather then buying the house. Thank you so much for this article you have shared with us.

CD Rates

Nov 15, 2009 11:33 PM #4
Anonymous
real estate punjab

Absolutely this is very supporting site and provides good tips how to increase real estate business.

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Jul 29, 2010 12:33 AM #5
Anonymous
real estate in mohali

this is absolutly good site and helpful thanks for sharing this.

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Aug 01, 2010 07:51 PM #6
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