Selling a home a great transaction and you cannot afford to make any mistake. It is the time of gaining from your investment. So, you have to do it very well so that you will benefit from your investment. Here are some tips to apply.
Decide whether or not to sell
Before continue with the process of selling your home, it is important that you think to deeply on what you are about to do to know whether it is the right to do. Why do you want to sell your house? This is a basic question to ask yourself. Some people sell their home in order to acquire a new home while others sell their home to reap from their investment. If you are selling your home in order to acquire a better home, you should consider other options such as renovating your home or creating additional space in the basement or attic. If you are selling to make money, find out whether it is the right time to sell.
Consider the effect of changing house price
If house prices are increasing greatly, you may will gain from the transaction because you will sell at a good price. But if you are selling to buy a new home, you will not be able to acquire a more spacious home at the time when the real estate market is hot.
Are you still paying your mortgage?
Your mortgage is another factor that will affect your decision to sell your home. If you are still on negative equity or you are yet to complete the payment of your mortgage, selling your home may not be the decision to make. It simply means that you will still have to go for another mortgage in order to purchase a new home. Even if you are selling to make gain, you may not make enough because after paying what i left from your loan and then the agent fees, you will be left with nothing.
Having take about into consideration and you still think that selling is to your best interest, you can move on with the plan.
Inform your mortgage lender
When you have decided to sell, you should inform your mortgage lender of your intention to sell. If you are still under a mortgage obligation, the mortgage lender should be involved in the transaction. So ensure that inform the mortgagee otherwise he may enter into legal battle with the mortgagee.
Determine whether to sell by yourself or to hire a real estate agent
You can sell yourself home without using the services of a real estate agent. But you can also sell via an agent. You should weigh both options before deciding which option is the best for you.
Determining the amount to sell
You are the only person that has the final say on the amount you will like to sell your home. Other people involved in the transaction like your agent and solicitor will only advice you. So, you have to take their decision. But before you take that decision, you have to take time to research the market in order to know the estimate price. You can afford to make any mistake here.
Hire a reliable real estate agent and a solicitor
If you are selling via a real estate agent, you should hire a reliable one. As a rule of the thumb, you should hire an agent that belongs to a professional body. Such agents are guided by the rules of the professional bodies they belong. But agents that don't belong to any professional association work as they want. They may or not abide by the professional ethics and nothing will happen to them. Whether you are selling by yourself or via an estate agent, you will need a solicitor to handle the legal aspect of the transaction. Make sure that you hire a reliable one.
Advertise your home
If you are using an agent, he will list the house and do the advert. But if you are selling by yourself do it by yours.
Accept an offer
You have got many offers, evaluate them and accept the best offer. Get the necessary paperwork and document done.