In many cases, selling a home can be just as stressful as buying a property. However, there are things that you can do to make the process of liquidating your house a relatively easy one. For instance, you can hire a real estate agent to handle showings, accept offers and negotiate the final terms of the sale on your behalf.
Why Are You Selling?
Selling a property can be a lot easier when you know why you’re doing so. For example, if you have a lot of positive equity in the house, liquidating it can help to significantly improve your financial situation. If you don’t like spending your afternoons mowing, painting or otherwise maintaining your home, selling it can help to reduce your stress in the long run.
Should You Accept Cash Offers?
It may be in your best interest to accept a cash offer because it can significantly reduce the amount of time it takes to close on the transaction. Furthermore, you know that the buyer has the capability of following through on his or her intent to buy the property. Your agent will likely be able to provide more insight into the other potential benefits of an offer to acquire your home without the need for a mortgage.
You Control the Showing Schedule
It’s generally a good idea to be flexible as it relates to when you’ll show your home to buyers. However, you aren’t obligated to meet a buyer at a specific time if you truly can’t fit that meeting into your schedule. Ideally, you’ll let your agent know about any limitations that you have the day that he or she is hired to represent your interests.
Prepare Ahead of Time
If possible, try to get your home ready to be sold before it is put on the market. This may mean getting rid of old clothes, power tools or anything else that is taking up space throughout the house. You may also want to have the home inspected to ensure that it’s free of mold, dry rot or other serious issues that could prevent a sale from closing in a timely manner. Finally, it’s a good idea to paint the home’s exterior, cut the grass or take other steps to improve the property’s curb appeal.
Should You Sell Before You Buy?
As a general rule, it may be easier to sell your current home before buying your next one. This is because you can use the proceeds from the sale as a down payment on that property. Furthermore, unloading your existing property may make it easier to qualify for a new mortgage because you’ll have a lower debt-to-income ratio (DTI). It’s also important to note that you may be able to delay the closing date on the sale until you’re able to find your next house.