Before you decide to sell, get pre-approved by a lender you have confidence in, and study the housing market in the area in that you want to live to in to get a good idea of how much it will realistically cost you to buy. If you’re unable to qualify for a loan—or if the type of home you want doesn’t fit your budget—you might have to rent or buy another house that is far from ideal in the meantime. Have a backup plan in case you need to move quickly.
Wasting Time on Unqualified Buyers
Showing your home to someone who cannot afford to buy it is a wasted effort. For example, in one situation, a seller spent two weeks preparing his home for an acquaintance interested in buying. He spent $1,000 removing an old shed and met several times to discuss price and terms, only to discover late in the process that the buyer couldn’t qualify for a loan. Make sure your agent works hard to screen out unqualified buyers to avoid wasted time and effort.
“Hovering”
Whenever possible, avoid being home during showings. This may be impractical if you’re selling the home yourself, but if you have a real estate agent, it’s best to leave while the house is being shown. Buyers may feel they are intruding and then rush through. They also may be hesitant to talk about changes to the home or features they don’t like. It’s easier for buyers to visualize the home being theirs when they have a chance to critique and discuss the home among themselves.
Waiting to Sell
If your circumstances require you to sell now, it’s often best to proceed rather than delay. Real estate markets are unpredictable,
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