Price competitively from the beginning. Do not hesitate to re- evaluate your local market. Work with your real estate agent to determine the fair market value of your home.
OTHER SELLERS’ MISTAKES
Zillow has compiled a list of “Don’ts” to help people avoid the pitfalls of an otherwise successful sale.
Selling Before Getting Qualified Yourself
Entering a contract to sell your home before you get qualified to buy another home is problematic. Your financial situation may have shifted since your last purchase, and you may not meet the requirements for a loan, or you may not be able to sell at a price that enables you to buy the kind of replacement home you desire. You might have to rent or buy another house that is far from ideal. Before you decide to sell, get pre-approved first by a lender you have confidence in and study the housing market in the area in which you want to live in to get a good idea of how much it will cost you to buy what you want. If possible, make plans to move in with friends or relatives temporarily in case your home sells before you find the home you want. As I was in the mortgage business for 25 years, if you don't have a lender you feel comfortable with, I can give you recommendations of excellent mortgage companies that excel in that field. I cover more about the situation of needing to sell your home in order to buy your next home at the end of this chapter. This is called making an offer that is contingent upon the sale of your home and while it is more appropriate to home buyers it is still something you need to understand if you are selling your home to purchase another.
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