The reasons for selling are not the same for every homeowner. What is the same are the issues and decisions facing sellers when they decide to put their house on the market or not.
Making a decision if you are ready to sell will depend on how you can answer some leading questions, such as: “Is now a good time to sell? If I sell my primary dwelling, where will I live? Do I know what my property is worth? Where do I begin?”
Your answers to these questions will be unique to your situation, your goals, the current market, and your property, but the following insights into each of the five questions reveal what your answers might involve:
#1. Why now? What is driving you to feel you “must” sell now, not in a few months or next year? What problems or inconveniences could arise if you don’t sell now?
Is there one main reason you are considering a sale now? Need the money? Is it the benefits of selling in a hot sellers’ market to lock-in the profit? Is it a new job or relationship that drives the selling decision? Or, have you lost your job or do you face a divorce? Are other circumstances, like escalating costs, including taxes, or the necessity for major repairs making the property too expensive to keep?
As your real estate professional, I will be able to help you arrive at an accurate market value determination. Real estate professionals can offer practical suggestions and alternatives. Weigh expert input in view of your priorities to resolve issues and identify ideal alternatives. Add to this analysis a brutally-honest assessment of what you love about your current real estate and what you do not truly care for.
#2. What is next? Where will you move to? Do you have the next step figured out – smaller residence, larger home, cross-town shift, cross-state move, cross-country leap, switch to condominium lifestyle, or cash out and move to a rental property? Are you aiming for a mortgage-free lifestyle?
Who is directly involved in the move? Decisions should be made by those who will use the property and shoulder costs. For instance, parents may decide to sell the family home and downsize when their grown children leave ‘the nest’, but this is no longer an automatic logical step for everyone. What if children return home after college to enroll in graduate school in hometown? Also, parents may choose to grow old in their home instead of moving into an institution.
#3. What would a “successful sale” include? How much do you need to net from the sale of your real estate? It’s not unusual for owners to have inflated views of the value of their home that are tied to the pride of ownership. If you are planning to purchase real estate with the proceeds of this sale, do you know how much you will need to sell for to buy that next property? Will you need to sell your current property first to be sure exactly how much you have for the next step? Or, can you accept the risk of temporarily owning two properties or needing outside funding to purchase the next property before you sell the current one?
What do you need to achieve through the sale of your real estate? Beyond financial concerns, what other factors will make this a successful sale? For instance, is there a moving date that holds value for you because an earlier closing and moving date would represent additional expenses? Do you want to sell all furniture and appliances or take them with you?
#4. Who will help you achieve this success? As your real estate professional, I have the expert knowledge and skills necessary to successfully list your property, attract ideal buyers, complete the transaction with your best interest in mind, and finalize the sale as quickly as possible and with little or no hassle. I am trained to provide real market data that will put your expectations in the context of current market conditions and buyer alternatives. xxx