For example, you need to find out if you qualify for a loan. Many homeowners entering their senior years mistakenly believe that they can’t afford to sell their homes and purchase another one, and that no one would lend money to someone in their 60s or 70s. However, this is not the case. But you do need to find out if you’re qualified, so make an appointment with a trusted lender or bank. You might also learn that your current home might not sell for the amount you were counting on to allow you to purchase the new home, plus have enough for your retirement and future lifestyle expectations. It’s good to know this ahead of time before making any official decisions. Don’t make the mistake of making assumptions! It’s your job to get pre-approved by a trustworthy lender before you get too far into the home-selling process.
MISTAKE #6. WASTING TIME ON UNQUALIFIED B ALIFIED BUYERS
Just as you need to be qualified, so do prospective buyers for your home. It’s a huge waste of your time showing your home to people who can’t even buy it. For example, let’s say that you, the seller, spent two weeks preparing your home specifically for someone—a friend of a friend—who displayed great interest in your particular property. You spent $1,000 in order to remove an old shed in your backyard, and you met several times with the prospect to discuss the price, as well as the terms and conditions. Then, once you were knee-deep in the home-selling process with this buyer, you found out that they didn’t even qualify for a loan.
You can avoid such a catastrophe by working with a qualified
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