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It is often said that the process of selling a house, buying a new one and moving home is one of the most stressful times of ours lives. But, with careful planning and following these tips, the whole process can proceed fluidly and smoothly.
Get Valuations:
Real estate agents will value your home for free because they hope that you’ll engage their services. Use the experience of local, trusted agents and invite them to come and value your home. Ask their opinion about what can be done to raise the value to the maximum.
Speak to your mortgage lender:
You need to contact your mortgage lender and ask them what penalties and fees you will incur for early repayment. Inform them that you are intending to sell your house and they will give you an up-to-date statement of the amount remaining and exactly how much selling up is going to cost you in real terms.
Work out total selling, buying and moving costs:
To assist you with this step ask one of your valuation real estate agents to give you a breakdown of all the local fees, taxes and costs you will likely incur when selling and buying. These will include real estate agents fees, lawyer’s fees, surveyor’s costs, and potential capital gains taxation and also consider factoring in the percentage of any annual taxes on your home.
Add to these expenses the costs you will incur when buying a new house and remember to include any deposit, mortgage arrangement fees, survey costs and insurances.
And last but not least, get a rough quotation for removal costs, which are easy to gauge, based on the size of your home and the distance you are likely to move.
Begin searching for your new home:
Now you have a budget to work with you can begin searching for your new home. It may seem dull to have all the financial facts and figures in place before heading off to find that dream house, but by doing all the ground work first you will be less likely to fall in love with an unsuitable, unaffordable property.
Find the best real estate agent:
Having already met and worked with real estate agents for the valuation of your home get back in touch with your preferred agent and ask them to revalue and then market your home. You need to feel comfortable with the agent you choose to represent you, you need to make sure they will sell your house as quickly, efficiently, honestly and effectively as possible and that they are trustworthy to be left to show viewers around your home.
Once you choose your agent, go through their entire marketing strategy for your home and make sure you are comfortable with their approach and that they are going to do everything required of them to assist you.
Furthermore, ask them to revalue your home based on the work you have done to it and any market movements that have occurred in the interim. |
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