Questions to Ask

When Considering Selling

These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, you may be ready to move.
Have you built substantial equity in your current home?

Check your annual mortgage statement or call your lender to find out how much you’ve paid down. Usually you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest. But if you’ve owned your home for five or more years, you may have significant, unrealized gains.

Has your income or financial situation changed?

If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving. If your income has decreased, you may want to consider downsizing.

Have you outgrown your neighborhood?

The neighborhood you pick for your first home might not be the same one in which you want to settle down for good. You may have realized that you’d like to be closer to your job or live in a better school district.

Are there reasons why you can’t remodel or add on?

Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

Are you comfortable moving in the current housing market?

If your market is hot, your home may sell quickly and for top dollar, but the home you buy will also be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home. Ask your real estate professional what they see happening locally.

Is the effort and cost of maintaining your current home becoming difficult to manage?

A Real Estate Professional can help you decide whether a smaller house, condo, or rental would be appropriate.

Selling Your Home

Step-By-Step Guide

Step 1

Meet with the Agent

There is no commitment on your part for the initial meeting. It will be educational and let you know next steps and help you decide whom you feel comfortable representing you in the transaction.

Step 1

Step 2

Establish a Price

Your real estate agent will provide a market analysis which evaluates comparable homes in your area to determine the best asking price.

Step 2

Step 3

Prepare Your home

View your home through the eyes of a prospective buyer and ask yourself what you’d expect. Your agent will provide some useful ideas for decluttering, staging, or improvements. The next step is photographing the home, so you want to make it as attractive as possible.

Step 3

Step 4

List It For Sale

Once the home is ready for sale, your agent will begin advertising the property and make it available in the multiple list service so all real estate professionals can view and share with their buyers.

Step 4

Step 5

Offer And Contract

Your agent will guide you through the buyers’ offers and negotiation process. Once an offer has been accepted and a signed contract is in place, the buyer will begin the process of getting an appraisal and property inspections.

Step 5

Step 6

Closing

This is the transfer of funds and ownership. You will sign several documents and arrange to receive the sale proceeds. Typically, you will have emptied the house of your belongings for the new buyer. Be sure to have keys to all doors (and sheds or garages) along with alarm codes or other necessary information for the new owner.

Step 6
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Leandro Gularte
Real Estate Broker
Pater Domus Real Estate