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Selling your home is one of the most important financial
transactions you will make in your life. |
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WHY DO I WANT TO SELL HOME? |
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Have-to Situations:
1. A growing family or expanding business that needs more
space.
2. A new job opportunity that needs a move to
another city.
3. A financial reason .
4. A family separation or divorce.
5. An imperative health concern.
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Home Situations:
1. The neighborhood is changed ant not suitable for
owner now.
2. The parts of appliances are old and cannot be repaired.
3. The plumber frequently is called to visit home.
4. The space of the house is not used or visited for long time.
5. The kitchen and bathroom are full of dark yellow color other than the
original color.
6. The furniture has to be moved to see the carpet's
first time color.
7. The improvements to the home are impossible.
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Right Time Situations:
1. Mortgage interest rates become low, more potential buyers can
be affordable to buy homes.
2. There is a rising activity in home buying, as often occurs in the
spring or fall.
3. The healthy economic climate in the region makes people feel
confident for buying a home.
4. The area is considered especially attractive to live such as
schools, low crime rate, weather, nearby a major city, or
other factors.
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SHOULD I SELL HOME BEFORE BUYING ANOTHER? |
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You own a home and want to sell it to buy another one. There are
three situations you can consider to choose, depending on your own
situation. |
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Situation 1:
No enough income to carry two mortgages.
First you have to sell the old house and pay off the
existing mortgage and then you can buy the new house. It
is seldom possible to close both on the same day. If you
sell before you buy, you need a place to stay for the
intervening period, as well as a place to store your
belongings.
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Situation 2:
Enough income to carry two mortgages. You also have enough cash
to meet the cash required to purchase the new house without having
to use any of the equity you have in the old one. In this most
favorable situation, you can buy your new house first and sell the
old one at your leisure, after you close on the new one.
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Situation 3:
Enough income to carry two mortgages, but not enough
cash to close on the new one. You need to cash-out some
of the equity in your existing house. The simplest way
to get it is to take out a home equity line of credit on
the old house. Then, you can take whatever time you need
to find the house you want to buy, following which you
sell the old house and pay off both mortgages.
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Want to sell your house? Contact Nicole to get the market
value for your home and help you selling your house.
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