With the end of the year just around the corner (already??!) and 2015 closer than our breath, I am almost certain that each of us has a resolution/goal list either spoken or not. Sometimes I do not tell my resolutions for fear of being held accountable!! But when it is one of those goals such as buying or selling a home, chances are that you have sought counsel and are preparing yourselves. Or are you?
Pointing out the obvious is worth the time because you never know where people are or what they are going through in their walk of life. We can get some major curve balls that distract us from something very simple. Here are some basic preparatory steps to help you set yourself up to meet success in 2015!
Buyers: Being ready is paramount! You have had your season of daydreaming about buying your new home, now it is time to position yourself for the dream! Have you talked to a trustworthy lender to find out your borrowing power? What about a budget…do you know how many of your hard earned dollars can be delegated to housing, and will your lender see it the way you do? Have you cleaned up the financial wreckage of the past? What about paying down credit card debt and working on that prudent reserve? All great questions, right?
Getting yourself ready for the commitment of a new mortgage is work. Although it is fun to jump right into the game and look at houses, how disappointing is it to find “The One” only to get passed up because you have yet to secure that pre-approval letter? Getting some of those tedious tasks out of the way will put you in a much better position, help you to stay in your price range and give you the purchase power to make an immediate offer when the right one comes along. Cleaning up your credit and refraining from any major purchases is a must. And don’t think that you can put in an offer and then turn around and make a major purchase before the close of escrow because they will flash check your credit right before that long awaited day. Many deals fall apart because of poor decisions, so play it safe!
Sellers: Take those extra days off that you have in 2014 and work on getting your house “market ready”. Ask friends for their honest opinion about what they see in your home that needs work. Finish projects that have been lingering out there and clean up anything that might distract the buyer’s eye. Know what your payoff is and how much you need to make from the sale. Do your market comparisons…ask your Realtor for the recent sale prices from your area and compare your home to theirs. Your Realtor will guide you in pricing your home right, but at the end of the day the choice is yours to make…they can only make suggestions! If there are things that need to be remodeled/replaced, weigh the cost against the possibility of having someone overlook your home because they lack vision!
Selling your home is emotional. With each home comes stories of joy and pain, but to a buyer it is possible that it is all business. Know how to separate yourself from the transaction itself and keep your eye on the ultimate goal! In the end, if you stay on task, you will realize your goal for 2015 and beyond!