Our Free Home Value Report will give you all the information that you need for buying or selling a home in the Georgia real estate market.
Essential Home Selling Preparations
The home selling process differs from
state to state, but there are some important steps that you should take
before you put your house on the market--all steps that protect your
interests and help you get the most return from your investment. - Get Pre-Approved for a Home Loan
I've known sellers who signed a contract to sell their house before they knew if they were qualified to buy another. Either their financial circumstances had changed since their last purchase, and they could no longer qualify for a loan, or they weren't able to sell at a price that allowed them to buy the type of replacement house they wanted. They ended up renting or buying something that was far from ideal.Before you decide to sell the house, get pre-approved by a lender you trust and research the housing market in the area where you wish to live so that you have a good idea how much it will take to buy a replacement.
How To Start Researching
Start looking for two types of real estate: houses that seem to match the one you'd like to buy and houses that are similar to your current home.- Find homes in free For Sale publications, often available outside grocery and convenience stores.
- Search the Internet for homes for sale in your area and read real estate ads in your local newspapers. You won't find house locations without making phone calls, but browsing the general market will get you off to a good start.
- Check Your Mortgage Payoff
Call your lender to check the payoff for your current home mortgage.
- Determine How Much the House Is Worth
- Determine your home's fair market value. Real estate agents will usually help you determine value as a courtesy, but you might take it a step further and order an appraisal.
- Estimate Your Costs to Sell
- Real estate commission if you use an agency to sell.
- Attorney, closing agent and other professional fees.
- Excise tax for the sale.
- Prorated costs for your share of annual expenses, such as property taxes, home owner association fees, and fuel tank rentals.
- Any other fees typically paid by the seller in your area (surveys, inspections, etc.).
- Real estate agents deal with transactions every day and can give you a very close estimate of seller closing costs.
- Determine Your Costs to Acquire a New Home
- Total your costs to acquire a new home: moving expenses, loan costs, down payment, home inspections, title work and policy, paying for a new hazard insurance policy--all expenses related to buying a home. Your lender should give you a disclosure of estimated costs when you apply for pre-approval.
- Calculate Your Estimated Proceeds
- Deduct your mortgage payoff from your home's fair market value.
- Deduct your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing.
Will your closing proceeds cover your costs to acquire a new home? If not, do you have cash or other funding to make up the difference?
- Make Necessary Repairs
Make all needed repairs unless you want the house to be regarded as a fixer-upper. I'm not referring to cosmetic updates, but to items in need of repair. Anything that's obviously broken gives potential buyers a reason to submit a lower offer.
- Get the House Ready to Show
Most houses need at least a little spiffing up before they are shown to potential buyers. Great curb appeal, fresh paint indoors (and sometimes out), organized closets and cabinets, sparkling clean windows and appliances, and a clutter-free atmosphere are essential if you want the house to appeal to buyers.
- Get Psyched Up to Let People In
If you're listing with a real estate agent, she'll no doubt ask you to leave when the house is shown. Why? Because lurking sellers make buyers nervous--they don't feel comfortable inspecting the house when they feel they are intruding.Unless there's a real reason for it, don't ask your agent to be present for all showings. That's the kiss of death for showing activity. Other agents want privacy with their buyers and they don't usually have time to work around your agent's schedule.
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Robbins Realty Phone Number: 1-770-971-5660
Georgia real estate is hot! The Leon and Tina Robbins Real Estate Team specializes in North Metro Atlanta Real Estate including Cobb County Georgia Real Estate, Marietta Georgia Real Estate, Fulton County Georgia Real Estate, Canton Georgia Real Estate, Cherokee County Georgia Real Estate, Alpharetta Georgia Real Estate, and Roswell Georgia Real Estate. This includes information about homes for sale in East Cobb and Towne Lake. Our Team of Cobb County Realtors is an award winning team of real estate agents. Our Free Home Value Report will give you all the information that you need for buying or selling a home in the Georgia real estate market.