Before You List.

If you’re planning to sell your home, you want to be sure it’s a financially smart decision. Here are some tips to get you  started in the right direction.

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Get a credit status check-up. Uncover any credit snags, bills that need whittled down a bit, or settle up any errors on your credit report. Sometimes rebuilding or repairing credit situations can take months, or even a year, so the sooner you begin this work, the better. Many free credit report checking services are available online. Your mortgage broker can also be a great resource in reviewing your credit situation.

Determine your housing budget. What is your target mortgage payment range? Maybe your new job or raise is the reason behind your move. If so, congratulations! But, remember to factor in how much you’ll potentially net on the sale of your current home. You’ll need cash to close on your next home, pay property taxes, insurance, utilities, HOA fees, moving expenses, and more.

Hire pros. Partner with a Realtor to review your home, discuss its pricing strategy and your new home goals. A Realtor will give you an advantage to all that is home buying and selling. Work with a mortgage broker who can help explain financial scenarios based upon purchase price, down payments, monthly mortgage and taxes. (I have some excellent connections in the industry to help). Also, seek input from a tax advisor who can review your income tax outcomes from the move and a financial planner who give you an expert opinion on your financial health and help you plan for the future.

Get inspections. You know a potential home buyer will have a home inspection done on your home. So why wait? Even though you may feel as though you know your home well, a home inspection can prevent any surprises. It also allows you to make repairs before you list your home and prevent any negative property condition reports.

Prepare a financial plan. As a seller, you need to factor in the average five to six percent of the purchase price to cover the listing agent’s work and the buyer’s agent as well. Build in a home repair budget to get your home ready-to-list. Whether it is a collection of small updates, or a hefty repair you know needs done to pass inspection, plan ahead for those expenses. Be sure to project other costs of selling your home such as property transfer taxes, buyer’s home warranty and other costs that are covered by home sellers.

Get your financial health picture as you plan to list your home. Be a smart seller. This work in preparation to list your home will pay off! As your Realtor, I will help you. Contact me today to help you get started in listing your home!

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