If you decide to sell your home and you have financed it for 30-years, what steps do you need to take? Say you have just paid 9-years on it and you have decided to move, what do you need to do? How do you price it to at least make enough extra for a downpayment on another home? Any help will be appreciated..
2006-07-14 17:22:12 · 7 answers · asked by jeanclaudefan 3 in Business & Finance ➔ Renting & Real Estate
Ask for recommendations for a realtor. Seek out a Full Service Discount Broker with a good reputation. Have them give you a FREE Competitive Market Analysis of your home. This involves looking a comparable homes in your area and making adjustments according to size, # rooms, etc etc. It is not rocket-science. 90% or more CMAs can be done very accurately without an appraiser.
Around 80% of FSBOs end up listing with a realtor after wasting months and tons of money trying to sell it themselves. Also Realtors get an average of 16% more for a house than FSBOs. Check out the stats on Realtor.com. You can also locate a local realtor there if you cannot get a recommendation.
You can always contact me and I can help you find one in your area. (for free of course)
2006-07-15 15:39:05 · answer #1 · answered by BigDaddy 4 · 0⤊ 0⤋
It is possible to sell PROVIDING that the property will be vacant on completion i.e. the tenant has already gone. I once looked at a property which had a tenant in it, and she was about to move out. Don't know if there'll be any additional paperwork though. You need to consider how long the tenant has and factor whether its short enough for a sale to go through. If there are 6 months to go, then it would be a problem if the buyer is in a chain, as most chains won't wait that long. Also, you could get a first time buyer, or cash buyer, who may be able to move quickly.
2016-03-16 00:07:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
GET A REALTOR! They can do a (typically free) market analysis of the property to let you know what comparable homes in your area are selling for. IT'S WORTH IT TO GET A REALTOR! Otherwise, you're going to either get screwed over or not have all the loose, legal ends tied up.
chances are, your home has increased in property value since you bought it 9 years ago, so it will sell for more. The mortgage balance will be satisfied at closing, and any additional funds will be disbursed to you, minus fees, expenses, taxes, etc.
2006-07-14 18:00:51 · answer #3 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
fees...including the 6%-7% you'll have to pay a realtor. If you want to get a really accurate idea of the current value, order an appraisal. Realtors' values will vary because they are basically trying to get you to list with them and have a habit of over-promising and under-delivering. Have the appraiser do a 2055, interior-exterior appraisal. It will probably cost about $300, but it's worth the money. The value the appraiser comes up with is based and recent sales in your area of comparable homes. They are also not biased because they already have your business.
2006-07-15 01:18:30 · answer #4 · answered by KL 5 · 0⤊ 0⤋
Like some of the others here I also am a Realtor. Try Zillow.com see wht it says your home is worth. There are other sites also. Just go to Google and type in "how much is my house worth" you will get several sites to get values from.
But a Realtor is your best resource. There are many types of real estate agents and brokers. Find one that specializes in your area or your type of property.
2006-07-15 06:55:07 · answer #5 · answered by gitalonglildoggies 1 · 0⤊ 0⤋
Pricing your home correctly is probably the most important step in insuring a successful home sale. Keep in mind, potential buyers will look at 8-10 homes in addition to yours, and then make their decision based on the best value for them.
What you need to make on the deal is irrelevant to homebuyers. All they are concerned with is getting the most home for their money. Not your profit or loss.
Pricing a home involves gathering data from recent sales, pending sales, and homes currently on the market, plus examining current market conditions and going from there. It's probably best left to a professional, i.e..Realtor. Call a couple agents and ask for a "comparative market analysis". Most agents provide these at no charge and NO OBLIGATION.
An appraisal is strictly for loan purposes and serves no use in pricing your home in your market correctly. Don't waste your money on this now. Good Luck.
2006-07-15 08:31:32 · answer #6 · answered by Hoopfan 6 · 0⤊ 0⤋
The price of your home is based upon current market conditions, location and a few other factors.
The amount you currently owe on your home has absolutely no bearing on the value of your home.
Your friendly neighborhood Realtor.
2006-07-14 17:27:22 · answer #7 · answered by Not Tellin 4 · 0⤊ 0⤋