Sell Your Home Video Series: Episode 2 ~ Sell & Buy Simultaneously ~ Part 1

Stacia Whatley here, owner of Staciasellshomes + Associates. On today’s episode of how to sell your home video series, we’re going to discuss the first steps to successfully sell your home and purchase a new one in today’s housing market.

First step: determine the value of your current home. I will provide you with a Comparative Market Analysis and an in home visit. I will take a look at the comps and compare them with your home. We all know about other websites that claim they know the value of your home based on algorithms. They are a good tool to use as an “idea” or “range”, but the most accurate way to determine value is to have a real estate broker do a home visit. 

What I’m looking for: is your home 100% sale ready or will work need to be done before listing? Are you willing to make repairs or are you selling your home as is? Do you have upgraded finishes or are they basic or builder grade? None of this can be done by an algorithm… 

Next: what are your future goals in your next home purchase? Will you be upgrading and paying more for your next home? Or will you be downsizing and or paying less? Your future goals will help determine the best game plan to move forward. Everybody’s end game is different, that’s why it’s important to talk with a real estate broker in the early stages to help guide you through the steps. Now you’re ready for step two.

The second step is the most important because it’s going to set the stage for how you will be purchasing your next home. Are you Financing or paying cash?

If you’re paying cash the second step is fairly easy. All you need is to provide proof of funds when submitting an offer on your next home.

If you will be using financing to purchase your next home, you will need to get pre-approved BEFORE listing your home for sale. Why? I will be making plenty of money on the sale of my home, why would anything else matter? 

There are many other factors that are considered when getting approved for a home loan. In addition, I have seen time and time again, surprises that show up on my clients credit reports or finding out they have judgements against them that they never knew existed. That is just one example of why it’s important to get pre-approved BEFORE even listing your home. 

You may find something out that would prevent you from selling and we’d hate to see you end up homeless because the proper steps weren’t taken beforehand. I’m exaggerating a little, but this is an important thing to remember. 

Closing costs are usually a cost buyers and sellers forget about when factoring in buying a home. Do you have enough money to cover closing costs if the seller will not pay them for you? Do you have enough cash to pay for home inspections and the appraisal? 

All this prep work is to ensure you have a successful real estate experience. That’s our main goal and that is why you choose to hire a real estate broker to begin with. Because when you’re successful, we’re successful. 

Thank you for watching episode 2 “How to sell and purchase a home at the same time - Part 1” Join me next week on episode 3 Part 2. You’ve done the first two steps! Now what? We will talk about different scenarios to consider when selling and buying a home.

If you are ready to list your home and you don’t want to wait for next week’s episode, please schedule your in home appointment today, click the button below, “Schedule Appointment”.

I look forward to seeing you all next week. Please subscribe so you don’t miss an episode