Once the decision is made to buy or sell a property, you must now consider your plan. Having a clearly defined plan will ensure that you are not taking on unnecessary costs or using time unwisely. The path to purchasing or selling a property is not set in stone. Do you know what your options are? If not, contact your agent or myself to explore what the best route is for you!
In the meantime, I would like to introduce you to the four pillars to buying or selling a property. Answering these questions will prepare you for the journey ahead and give you a good start on your plan.
- Motivation
- Your ‘why’
- As the seller, why are you selling your property?
- As the buyer, why are you buying the property?
- Your ‘why’
- Timeline
- Once you have determined WHY you are buying or selling, you need to determine how long you have to accomplish this.
- Asking Price
- If you are a seller
- How much is your property worth? This financial analysis is completed by a lender and the value analysis by the agent.
- Determine the top, middle and bottom price you will accept.
- If you are a buyer
- Make sure you are pre-approved by a lender.
- Determine your ideal payment and the highest payment you can afford.
- If you are a seller
- Condition
- As the seller
- Is the overall condition of the property acceptable in its “as is” condition?
- What repairs or simple updates could increase the value of your property?
- As the buyer
- Once your offer is accepted, it’s time to schedule your home inspection.
- Are any repairs needed and how does this impact your offer?
- As the seller
Buying or selling a property can be a very stressful and exciting time. It is imperative that you do not skip steps in your haste. Something that seems small, like a home inspection can cause lost time and money. I have made this mistake myself in the past and lost $7,000. While I am not proud of it, my personal mistakes and those I have seen with the thousands of transactions I have seen first hand only help me to guide you through the process. This outline is a great starting point for both buyers and sellers. I strongly recommend hiring a professional agent or consultant to guide you. There are many other questions that you should be aware of in creating a solid plan and ensuring your sale or purchase goes as smoothly as possible. If you would like to book your free consultation with me, please text me at 949-919-0109.
