If you’re thinking of selling your home to buy a new one and wondering where to start, I hope this information will give you insight on how to get started.
Most homeowners need to sell their current home to obtain their equity and cancel the current mortgage in order to buy a new home. Whether you’re looking to downsize, upsize, move to a different school district or neighborhood or just have the desire for a different house the transition may be easier than you think.
However, if you are considering keeping your current home as investment property and buying a new one, the steps are a little different than outlined here.
Let’s get started.
Step 1: Get pre-qualified for a mortgage. Talk to a mortgage representative about your desire to get into a new home. This is your first step because it would probably be your worst nightmare to enter into a contract to sell your home and not be able to buy a new one. Sometimes credit mishaps take place without consumers even knowing it happens. You may need time to clean up your credit and gather all of the documents you will need to qualify for a new mortgage. In doing this you will also find out what price range fits your desired budget for a new home. (At this point I send my clients a list of homes available in that price range to make sure the homes fit the criteria they hope to buy, before we go any farther in the process.)
If you’d like a recommendation for a loan originator in the Bossier City/Shreveport Louisiana area, here are a few that I work closely with who can provide a wide variety of mortgage products: (Be sure to tell them Dawn Thomas sent you!)
Step 2: Repair/Replace/Stage your home. Go through your house with new eyes. Enlist your Realtor® to help you. I feel it is my job to be the new set of eyes and the expert that knows what attracts and turns away buyers. Your goal here is to make a list of everything that needs to be done to allow for top-notch marketing of your home through pictures, videos, printed materials, open houses and private buyer viewings.
You need to pay close attention to your curb appeal. Fresh flowers and plants in a clean, crisp-looking flower bed is the best choice. Don’t include many statues or pots unless they are perfect for framing the front door, the walkway or a specific area. Stay away from any statues with a religious or political theme. You want the potential buyer to see the beauty of your home and yard from the position of sitting in their car. You want to make them want to get out of that car and go inside to see the house. Don’t include anything in your landscaping that takes away from exactly that.
Pressure wash your house, driveway and sidewalks if necessary. Dark stains from weather or mildew will make your home less appealing. Brighten it up. Make it inviting.
Inside your home make a list of everything that lacks appeal and do something about it. This includes all of the ‘character’ that homeowners tend to ignore such as squeaky doors, loose cabinet hardware, a crooked anything and ill-fitting interior doors. Note every spot that needs to be repainted, touched up, repaired, de-cluttered, organized and cleaned up. Carpets need cleaning or replacing? Grout need scrubbing? Kitchen cabinet doors need polishing up? Make it sparkle from top to bottom. And make sure there are no burned out light bulbs!! (pet peeve)
Step 3: Have your Realtor® determine the current market value of your home with the ‘TO DO’ list in hand. What will be the marketing value once your hard work of getting ready to sell is complete?
Step 4: Use the information obtained from Step 1 and Step 3 to determine if you have the means necessary for whatever down-payment you need to buy that new home.
Step 5: Get your house on the market. Get it listed so your Realtor® can go to work marketing your home to sell.
Step 6: This step is many steps all in one. Your Realtor® will help you through every phase of the contract with a buyer from negotiating the price to negotiating the inspections and navigating the steps in between. I will help coordinate the escrow and closing of your current home followed by the closing of the home you are buying. There are many tasks to juggle and many of them can get quite complicated, which is where my real estate expertise comes in to handle the job.
More questions? Call me today at 318-344-3731
Dawn Thomas is affiliated with
Century 21 Elite
4012 Benton Road, Suite 110
Bossier City, LA 71111
Each office independently Owned & operated
Louisiana license #19075
Thinking you want to buy a home in Shreveport, Bossier City, Haughton, Doyline or surrounding areas of northwest Louisiana. Buying home in Louisiana is easy with the best agent in Shreveport, Bossier City, Haughton, Doyline and northwest Louisiana. If you’re looking to sell your home contact Dawn Thomas, the best listing agent in northwest Louisiana specializing in Shreveport, Bossier City, Haughton, Doyline and surrounding areas. Call Dawn with all of your questions on how to list a home for sale or how to sell a home in Louisiana. Search homes for sale on Dawn’s Century 21 website at www.dawnthomas.c21.com.