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Tips for selling a home in the Athens, Ga Area
Here are some important steps that most home sellers should take before listing a house with an real estate agent. The work you do to prepare your home to be sold will help you get the the largest return on investment.
- Get Pre-Approved for a Home Loan
- Check Your Mortgage Payoff
- Determine How Much Your House Is Worth
- Estimate Your Costs to Sell
- Estimate Costs to Buy a New Home
- Calculate Your Estimated Proceeds
- Make Necessary Repairs
- Get the House Ready to Show
Do not make the mistake of signing a contract to sell your house before you know if you qualify to buy another. Before you decide to sell your 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. 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.
Call your lender to check the payoff for your current home mortgage.
Determine your home's fair market value. Jennifer Westmoreland & Associates will help you determine value as a courtesy, but you might take it a step further and order an appraisal.
* Real estate agent commission.
* 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.).
Calculate moving expenses, loan costs, down payment, home inspections, title work and title policy -- and any other expense related to buying a home. Your lender should give you a disclosure of estimated costs when you apply for loan pre-approval.
* 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 buy a new home? If not, do you have cash or other funding to make up the difference?
Make all needed repairs unless you want the house to be regarded as a fixer-upper. I'm not referring to cosmetic updates--just items in need of repair. Anything that's obviously broken gives potential buyers a reason to offer you a lower price, especially if it's one of several repair hot spots that worry buyers the most.
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 look are essential if you want the house to appeal to buyers.
