7 Vital Tips for Buying & Selling
7 Vital Tips for Buying & Selling
Successful buying and selling of residential property revolves around timing. To make sure that you have control of the situation, you need to plan your moves carefully, by paying attention to these Seven Vital Tips, you’ll be a winner whether you are buying or selling.
1. Sell Your Home First
Unless circumstances dictate, you should sell your current home first. This will let you have the full power of your finances available to you, during negotiations for your next home. Otherwise, the timing of the settlement of your new home may force you to sell your current home “at all costs”, and this usually means at a big cost to you! Under some market conditions, properties sell so quickly that vendors won’t accept offers and contracts that contain ”subject to” contingency clauses. Therefore, if you have thought of buying a home with the clause “subject to the sale of the property 12 Something St Somewhere, QLD” , you will most likely miss out on the home you want, when dealing the fast-paced property market
2. What Can You Afford?
Before you put your house on the market, check out prices and styles of homes in your desired area. Then work out your finances including current loan repayments. Review your current loan for the things about it that you like and variables you’d like to change. Use one of the many online or brokerage options for establishing what financing arrangement will suit you best
3. Loan Shopping
When you have had a good look at what loan options are available, talk to a number of brokers or banks. Establish the best rates and terms package they will give you, along with the amount they will loan. Pick the loan that best suits your situation. Make sure you’ve considered your future situation before you lock into a new loan package. Pre-approved loans are great way of having the flexibility to bargain in your favour. You’ll also be able to close on your new house faster
4. Coordinate Settlements
Try to move directly from the old home to the new one. Sometimes you can rent back the old property for a few days or weeks if settlement on the new one is delayed. Another alternative is an interim move to an apartment for a short time, while waiting to close the sale on the new house.
5. Home Improvements
If you need to do any work on your house, have it completed before you start to market your home. Even better is to have a Building & Pest inspection done before you go to market, so you can fix anything that needs repair
6. Use Your Agent to Your Benefit
In settling your home, details are absolutely vital. Insist that your Agent keep you up to date with every step of the sales process. Every “I” need to be dotted and ever “T” crossed on time. Work with your agent as much as possible so that you and your home are well prepared and your home is well presented. Ask your Agent for other ideas to make the sale a smooth one. And, if it’s a busy season, line up appointments in advance with people you’ll need (conveyancer, solicitor, bank manager, finance broker) to close on your new house
7. Make Things Easy
Don’t make it a last-minute panic! Speak to me early in the decision making process. I’ll gather information and provide it to you quickly so you can make informed decisions and workable plans.
Hopefully, you now feel that you are in a better position to decide the best way for you to sell your home, and get the price you want, in the time you want.