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Information For Home Sellers
If you've decided to sell your home, chances are you're caught up in a host
of emotions. You may be looking forward to moving up to a new dream house or
facing the uncertainty of a major move across country. You may be reluctant to
leave your memories behind or eager to start new adventures. Whatever turbulent
feelings you're experiencing right now, there are plenty of practical matters
that need your attention. Keep in mind the following considerations to help the
whole process go more smoothly.
Time Becomes Money
It's a good idea to place your home on the market as far in advance as possible
of purchasing a new one. If you find a new home first and then try to sell your
present home, you may wind up with two mortgages. If this does happen, ask your
real estate agent or banker about a bridge loan to help you make the double
payments. Lenders use the same criteria for offering bridge loans as they use
for mortgages. Should you choose to accept a bridge loan, beware of the expense;
during the term of the loan you must continue to pay both mortgages. Shop around
for the best terms.
Keep in mind that when people move, sell and buy, there usually is a domino
effect. Closing and moving dates have to be coordinated, and the more firmly
everyone commits to a window of dates and sticks to them, the better for all
involved. Put all agreements about dates in writing, and protect yourself by
negotiating financial penalties for failure to comply.
Check Your Curb Appeal
A home that's visually appealing and in good condition will attract potential
buyers driving down the street. Use this checklist to view your property through
an outsider's eyes.
Are the lawn and shrubs well maintained?
Are there cracks in the foundation or walkways?
Does the driveway need resurfacing?
Are the gutters, chimney and walls in good condition?
Do the window casings, shutters, siding or doors need painting?
Are garbage and debris stored out of sight? |
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Inside the Home
Strong curb appeal will lure potential buyers inside, where you have to
live up to their expectations. Fortunately, there are plenty of easy
improvements you can make to your home's interior without spending a lot of
money. Cleaning is No. 1. Your windows, floors and bathroom tiles should
sparkle. Make sure you have clean heating and air conditioning filters. Shampoo
dirty carpets, repair dripping faucets and oil squeaky doors. It may not seem
fair, but a peek in the oven may be the hallmark by which a buyer judges how
well you have kept up your home.
Remove unnecessary clutter from the garage, basement, attic and closets. If your
home is crowded with too much furniture, consider putting some things into
storage. If a room needs a fresh coat of paint, use a neutral off-white. Think,
too, about how your home smells. You may be used to the smell of a pet or
cigarettes, but such odors can be a strong turn-off to others. Finally, set a
mood for the buyer. Make your house homey with live flowers and fresh guest
towels in the bathroom. Place scented potpourri around the house or, on the day
you're expecting a potential buyer, pop a batch of frozen cinnamon rolls into
the oven for a welcoming aroma.
Remember, cosmetic changes do not have to be expensive. In fact, costly home
improvements do not necessarily offer a good return on your investment when you
sell. It's attention to the basics -- anything that says ''this home has been
carefully maintained'' -- that will help you get the price you want.
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