Before you sell your home, you need to know how much you can afford for your next home. It seems elementary, but some homeowners get caught having accepted a contract on their home and then have difficulty buying their next home. This can happen for a variety of reasons – a change in financial circumstances, change in credit, or their house didn’t sell for what they thought it would and consequently, they couldn’t afford what they thought they could. Talk to a qualified lender in the area where you want to live so you will have a clear idea of what you can afford. Submitting your pre-qualification/pre-approval letter with your contract for your new home makes your contract stronger as it shows you are a serious buyer.

Do your research on the housing market where you want to live to find out what homes are selling for. Also research your market to find out sales information for homes are that are similar to yours. Your Realtor can be very helpful in your research as they will have the most up-to-date market information.

2. Call Your Current Lender To Find Out Your Mortgage Payoff

Talk to your current lender to find out the payoff for your mortgage.

3. Calculate Your Costs To Sell Your Current Home

Some costs you need to consider:

· Real estate commission

· Title company fees

· Prorated costs – taxes, subdivision fees, home owner association fees, etc.

· Inspections required to be completed by the seller

4. Calculate Your Costs To Buy Your New Home

· Loan costs

· Inspections

· Moving expenses

· Title work

· Insurance

5. Calculate The Proceeds From the Sale of Your House

· Subtract your mortgage payoff from your estimated market value

· From that number, subtract your estimated costs to get an estimate of what you can expect at closing

6. Make Repairs

· Unless you plan on selling your home in ”as-is” condition, you’ll need to make needed repairs to your home so it shows in the best possible conditions. Many municipalities have their own inspections (in addition to the home inspection ordered by the buyer) and, often, those repairs are the responsibility of the seller.

Repairs you want to address include:

Electrical – is your circuit box adequate for your house? Is it updated? Do your kitchen and baths have GFI outlets? Are all receptacles wired correctly?

Plumbing – fix leaky faucets, clogged or slow drains, and make sure all the toilets flush correctly.

Gutters - make sure you don’t have any clogged gutters and that downspouts are pointed away from the house. Problems with gutters can lead to water or dampness in the basement. Take a good look at your gutters – are there plants growing out of them? Get them cleaned!

Mold & mildew – poor drainage can lead to patches of mold. Addressing any drainage problems will help reduce moisture in your basement and/or crawl space. You can cover any exposed dirt with plastic to reduce moisture.

Chimney – is it in need of tuck pointing or flashing?

Walk through your home and make a list of items that need to be fixed – broken door knobs, cabinet handles, loose railings, etc., and then have a handyman make repairs before you go on the market. Your agent will be able to recommend service people to you.

7. Prepare Your Home To Show

Even homes in great condition need some attention so it’s ready to go on the market. Your Realtor will help point out areas that need attention. It is important to disassociate yourself emotionally from the house and not take suggestions as criticisms. Your Realtor wants to help you get the best prices possible for your home and then know what a home needs to sell.

· Clean all windows and skylights

· Eliminate clutter – this could include removing many items from table tops, some pictures from walls, and excess furniture;

· Clean out and organize your closets and cabinets – this is a great time to throw out unneeded items before you move. Potential home buyers WILL be opening your closets and cabinets and they will have a better feeling about your home if they aren’t messy and cluttered;

· Eliminate odors – pet, food, smoke, etc. Strong odors can keep buyers from spending much time in your home. Homes that are vacant will have stronger odors – keep air fresheners throughout the house and heat and air conditioning on as needed. Bad odors are the number one turn-off for home buyers.

· Get the clutter out of your yard and keep the landscaping fresh – keep the grass cut and stay on top of weeds;

· Make your front entry inviting. Invest in new door hardware if needed and make sure the front door is clean – give it a fresh coat of paint if you have chipped or fading paint;

· It may be worth it to invest in a lawn service and a cleaning service before you go on the market – you only have one chance to make a first impression!

8. Make Your Home Easy To Show

Don’t be surprised when your agent tells you not to be present for showings. Sellers who are home when buyers are looking at the house make buyers nervous and they tend not to stay as long because they feel like they are being intrusive, no matter how much the seller reassures them they aren’t. They also don’t feel like they can speak freely with their agent while the seller is home. DO NOT STAY AT HOME while your house is being shown! You’ll want to make your home easy for agents to show, so try not to be too restrictive on how much notice you need or what hours are not available for showings. The buyers will move on to another home. If you’re serious about selling, get out of the way when buyers are looking at your home.

If you have a pet, make arrangements for what you’ll do with them during showings. Take them with you when you leave, if possible, or crate them, preferably outside. Leaving them in a room with instructions for buyers not to go in that room is a bad idea because then the buyer cannot inspect that area of the house – laundry room, garage, bedroom, etc. No one wants to be greeted by a strange dog jumping up to greet them, inside or outside, and this can make your home more difficult to show. Many people are afraid or irritated by dogs and will not go in the house if there is a dog running loose.

9. Make Your Home Look Its Best

Again, your bathrooms must shine! Dirty bathrooms are a huge turnoff to buyers. Invest in new fixtures, bathmats, shower curtains, and towels. It is worth the money to have your home professionally cleaned.

Make sure your home is light and bright. Replace all light bulbs with the highest wattage allowable and keep a supply on hand for you’re your fixtures – lamps, hall lights, spots, chandeliers, etc. Let your agent know where they are so they can replace them if they notice one is out while they are there. If you have heavy draperies consider taking them down while your house is on the market. Check to see if tree branches have grown in front of windows and are blocking the light and then trim accordingly.

Consider your wallpaper and paint colors. Wild colors and patterns won’t appeal to the masses. This doesn’t mean you have bad taste, it just means you are trying to appeal to the most people as possible and your tastes probably aren’t theirs. They will want to make their own decorative statements and a neutral palette will help them visualize how they can make it their own. Take down any wallpaper that is heavily patterned and paint it a neutral color. You may need a professional to remove the wallpaper.

Have you noticed any insect? Buyers don’t want to run into spiders, ants, roaches (ugh!) or other insects while they are looking at your house. Have your home treated to get rid of them.

Taking these steps before you go on the market will help you get top dollar for your home. Your home will show to its fullest potential, agents will be able to show it easily, and buyers will see that you have taken care of it. Many of these items cost little or nothing, and the money you do spend to address repairs and cleaning is money well spent.

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