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How to avoid three common pitfalls made by home sellers |
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Your home is competing with more than 1,000 other homes. Buyers buy on emotion, not logic. The best marketing program in the world can only bring lots of buyers into your home - it can't make them like the home. See the "How to Show Your Home" flyer. 2. Not First Obtaining A Qualified Bank Appraisal And Commitment For Financing From A Home Lender. How would you feel if your home sold for $106,500 and then you find out from the bank that it was worth $116,000? In today's real estate market, this happens often! Your home will have to be appraised by a state licensed bank appraiser sooner or later. Sooner can result in several extra thousand of dollars in your pocket.
3. Not Obtaining Written Pre-Approval For A New Home Loan For Your New Home. Nothing is more heartbreaking than to sell your home and find your new dream home, only to find that you can't obtain financing for the dream home. A written pre-approval is a formal written promise by a home lender to make you a new home loan. It costs only $100. (We can often help you get them for no charge), which will be applied to your down payment when you get your new home. Do not confuse a verbal pre-qualification with a formal written pre-approval. Verbal pre-qualifications are just that - verbal. They are not binding on the home lender. Many home buyers have received verbal pre-qualifications, only to later be denied a home loan and have their dream shattered. We'd be more than happy to give you the name of several highly competent, well-respected home lenders, who may provide you with a formal, written pre-approval at no charge, as a result of my recommendation. Please feel free to give us a call for their names. The above recommendations come from years of experience in the real estate industry during buyers' markets, sellers' markets, high interest rates and low interest rates. In any economy, however, the listed recommendations apply in all situations. Follow these guidelines and you will substantially reduce the often stressful and sometimes expensive mistakes made by hundreds of home sellers in our area each year.
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