It’s easy to assume that because you’ve purchased and sold property in the past that you know what you are doing. Maybe you had one of the trickiest transactions among your acquaintances, experienced the smoothest closing your title company had ever witnessed, or were able to get top dollar for your listing. Here are a few things to check before you decide to go through the homebuying or selling process again.
Make sure you have the time
Especially if you are juggling selling your property while buying a new one, you’ll need to make sure you’ve allowed yourself the appropriate timeline to accomplish your goals. For instance, if you need to renovate before selling, ensure you know how long it will take to make repairs. Talk to you REALTOR® to get a better sense of steps you’ll need to take for your specific situation.
Get clarity about your financial situation
When markets are hot, it might seem like you can make a real profit on selling your property. Do research to find out if that’s the truth. Consider all the costs associated with moving up—even furniture to go into a new space should be considered in your calculations.
Forget what happened in the past
Unless you bought or sold property this week, it’s unlikely that the marketplace is exactly as it was during your last real estate transaction. Your REALTOR® can give you a better sense of today’s market, including attractive amenities, pricing trends, and current programs and resources available.