Are you prepared for the selling season? Typically, the real estate market kicks into gear in the spring and steadily declines well into the fall months. The height of the season is from June to September, coinciding with the time school lets out to when it resumes. Getting an early start before the chaos of the season allows you to enter the market at the right time, maximizing profit and ensuring that you position yourself in front of as many potential buyers as possible.
Preparation is key in real estate. If you know you want to sell your home this year, now is the time to speak with an agent so that they can get a good look at your property, advise you on possible repairs, discuss listing at a competitive price and formulate realistic benchmarks during your selling time frame, all before you put your home on the market.
Sellers should take spring cleaning to heart. Decluttering, packing valuables, storing personal items, and a professional clean goes a long way with possible buyers. Sometimes that’s all a property will need. Be honest and upfront with your agent about all of your home’s positives and negatives. If your home needs serious repairs, it’s best to get those out of the way before you list, because you could lose an offer if an appraiser finds issue with your property, or worse. As well, have an in-depth understanding of your finances. You want to make sure the bank doesn’t have a lien or any other restrictions on your home.
If you are planning on buying, now is the time to speak with lenders, banks and financial planners to set your budget and begin the steps of qualifying for a loan. Having good credit and manageable debt are just a few aspects that lenders will look at to ensure that you are financially stable and will be able to pay on the loan. Having a pre-approval from a mortgage lender is a sign of good faith to sellers and makes your dreams of being a homeowner that much more real.
We work with several mortgage companies and can get you started on your search for lenders. But it’s important to shop around so that you get the best loan for you, not the bank.
Purchasing a home can be the biggest investment of your life, so do your homework, trust your agent and be prepared the brilliant next step in your real estate journey.