If your future plans involve purchasing a new home after your current one sells, it is best to be pre-qualified for your potential new loan unless you plan to pay cash for your next purchase. For a quick pre-qualification, see our page about Contacting a Loan Officer
Determine Your Real Profit & Expense
Find out what your net profit will be after the sale. Call your mortgage company and request a payoff. Be sure and get the actual date the payoff is good through and don't be surprised if the lender shows an extra month of interest you didn't expect. This happens when you were given a month's "grace period" in the initial first payment due at the time you made your original purchase. If you have lived in your home for less than 5 years, make sure there are no pre-payment penalties if you exercise an early payoff on your mortgage loan.
Plan a basic calculation as to your cost in preparing and selling your home. Be sure and include repairs, cleaning services, contractors, painters, realtor fees, etc.
As a Seller you will almost always incur the expense of a new title policy, and in Texas they are expense. Also, you may wish to have your home appraised to ensure you know its real value. Providing a home warranty to the new buyer is a very effective listing marketing tool. The cost to you is usually under $400.
Finally, you need to estimate what you will spend if you purchase a new home after your current home sells. Just like the person who will be buying your home, you will have similar expenses when you purchase yours as well. You will still have some title charges, appraisal fees, insurance costs, inspection fees, possibly a survey cost and down payment expense. Normally, there is no Realtor fee to you as a purchaser.
Pricing Your Home
Establish a realistic selling price for your home. Have your Realtor show you what homes have sold in your area during the past six months with similar criteria to your home such as floor plans, number of bedrooms and bathrooms, square footage, etc. Learn the selling price and length of time the homes were on the market before the sale was completed. Have your Realtor show you exactly what is currently on the market in your area. Be sure all the information and particulars are given to you on each of these properties including their addresses. Have your Realtor show you what sales are pending in your area as well as those whose listings have recently terminated or expired, including the length of time they were on the market and their pricing history. Check out your competition. Drive by homes you feel you will be competing with and watch for any Open Houses that might occur. Knowledge is power in the selling of your home. How aggressively you price your home will definitely affect how soon it will sell. We all know that the sale begins when the value exceeds the price!!
The other price you pay when selling your home is dealing with the reality that your home is now on stage! Gone are the days of casual living. Beds need to be made, clothes hung, items must be put in their proper places and your home needs to look clean and inviting at all times. You may experience numerous showings throughout the day
Preparing Your Home For The Stage
Prior to listing your home, you will need to make sure it will create a GREAT first impression! A prospect will be looking at many homes in your area. The first impression is the lasting impression and yours needs to stand out way above the rest!
AlphaMax Realty, Inc.
10333 Harwin Dr #415 Houston TX 77036
Direct Phone: 713-465-0524 Mobile: 713-208-5599
By submitting personal information such as name, address, phone number, email address and/or additional data, the real estate client/prospect consents that Joni Richards or her authorized representative may contact client/prospect by phone, U.S. Postal System, or e-mail whether or not client/prospect is participating in a state or federal or other "do not contact" program of any type