Selling Your Home - Common Q&A About Selling Your Home
Should I add on or buy a bigger home?
Consider these questions before making a choice between adding on to an existing home or moving up in the market to a bigger house:
* How much money is available, either from cash reserves or through a home improvement loan, to remodel the current house?
* How much additional space is required? Would the foundation support a second floor or does the lot have room to expand on the ground level?
* What do local zoning and building ordinances permit?
* How much equity already exists in the property?
* Are there affordable properties for sale that would satisfy housing needs?
* Does your neighbourhood support the value you are adding to your house with the improvements you are planning to make. You never want to be the highest priced home on the street.
Ultimately, the decision should be based on individual needs, the extent of work involved and what will add the most value.
How long do bankruptcies and foreclosures stay on a credit report?
Bankruptcies and foreclosures can remain on a credit report for seven to 10 years. Some lenders will consider a borrower earlier if they have made an effort to re-establish good credit. The circumstances surrounding the bankruptcy can also influence a lender's decision. For example, if you went through a bankruptcy because your employer had financial difficulties, a lender may be more sympathetic. If, however, you went through bankruptcy because you overextended personal credit lines and lived beyond your means, the lender probably will be less inclined to be flexible.
Do sellers have to disclose the terms of other offers?
Sellers are not legally obligated to disclose the terms of other offers to prospective buyers.
How do I prepare the house for sale?
First and foremost, put it in the best condition possible. We will often give a range in prospective sales price depending on the work that needs to be done and whether the Seller is willing and or able to correct all the deficiencies from major repairs to cosmetic updates prior to the home going on the market.
No matter what your budget may be, elbow grease is free! A clean house has a huge impact on potential Buyers and it doesn’t go un-noticed., Next, work on your home's curb appeal. Most Buyers will have formed a strong opinion about your home based on it’s curb appeal. Make sure your landscape is the best it can be, given the time of year you are selling. Mow the grass, clean up any debris and weed the garden beds. Plant a few annual flowers near the entrance or in pots to be placed by the door. Other quick fixes that don't cost a lot of money but can help you get top dollar for your home:
- Clean the windows and make sure the paint is not chipped or flaking.
- Be sure that the doorbell works.
- Clean and freshen up rooms, furnishings, floors, walls and ceilings. Make sure that bathrooms and kitchens are spotless.
- Organize closets.
- Make sure the basic appliances and fixtures work. Replace leaky faucets and frayed cords.
- Eliminate the source of any bad smells, such as the kitty box.
- Wipe down all kitchen cabinets and millwork, clean walls if required.
- Make sure all light fixtures are working and replace all burnt out light bulbs.
- Bake a batch of cookies or put a drop of vanilla on your element to ensure that the house smells inviting.
- Invest in a couple of vases of fresh flowers to place around the house.
As part of our service, we go through your home prior to putting it on the market and make a list of suggestions. We then sit down with you and go through our recommendations and come up with a good plan that fits with your schedule and your budget. Our goal is always to get you the highest price possible for your home!