Is your home getting to be a little too much to take care of?
The yard always needs attention
More upkeep on the house every year
Too many rooms to clean
Years of clutter everywhere
A big energy drain
SIMPLIFY YOUR LIFE
Where do I start?
Many people find cleaning, heating, and maintaining a larger-than-needed home an expensive and unnecessary burden. Some may want the convenience of a one-level home. Depending on your lifestyle and health, you may choose a condominium or townhome so you won't be responsible for gardening or exterior maintenance. The first decision you will need to make is what to do with your current home. A substantial amount of equity in the home prompts many to sell and get their cash out. Others maintain ownership and turn their home into a rental property.
Bigger isn't always better
Ideally, you should sell your home first and wait until the inspection contingency is removed before purchasing a new home. If you choose to sell your current home before purchasing your next home, you could save thousands of dollars and help make sure your offer has the best odds of being accepted! Here's why... If you find a home first and sell your current one later, you will need to purchase your next home contingent on the sale of your existing one. In today's fast-paced market many sellers will not accept this type of offer. Even if they do, it will weaken your position - you will not be able negotiate as good a price or terms and may even need to offer more to sweeten the deal. You also run the risk of being bumped if the sellers receive another non-contingent offer. In that case, you would have three choices: Lose the home you wanted. Get a bridge loan and pay 2 mortgages at the same time. Reduce the price of your existing home for quicker sale. Note the possible double financial loss: you pay more for your new home because of the need for a contingent agreement and you have to reduce the asking price of your present home to have a lightening-fast sale. If you are downsizing from a $300,000 home to a $200,000 home, this could easily cost you up to $20,000.
A Strategy That Could Save You Thousands of Dollars!
Many people find cleaning, heating, and maintaining a larger-than-needed home an expensive and unnecessary burden. Some may want the convenience of a one-level home. Depending on your lifestyle and health, you may choose a condominium or townhome so you won't be responsible for gardening or exterior maintenance. The first decision you will need to make is what to do with your current home. A substantial amount of equity in the home prompts many to sell and get their cash out. Others maintain ownership and turn their home into a rental property.
What if my home sells before I close on a new home?
There are a number of possibilities if this occurs: You could rent an apartment or stay in a hotel. You could negotiate a "rent-back" agreement, allowing you to stay in your present home until your new home closes and avoid a double move (in today's hot market, many sellers are able to negotiate a free rent-back period). In the event that you already have an offer on a home, you could negotiate an earlier move-in date or move the closing date up. We would be happy to help you to develop a strategy for your specific situation and goals. As always, our consultations are free, with no obligation and no pressure. With this in mind, set your priorities and have a free home market price analysis, or begin your home search.
Here are a few of the things I will do for you
Prepare a comparative market analysis for your home
Develop a sellers net sheet to estimate your proceeds
Provide a system to help with sorting, clearing and organizing
Give advise and referrals to get your home ready to sell
List and sell your home with my comprehensive marketing plan
Help you find the perfect new home
Schedule inspections attorney and any other necessary professionals
Call or send me an email today and I'll show you how to simplify your life.
Marianne Howell Wright Coldwell Banker Howard Perry and Walston 1600 E. Franklin St. Chapel Hill, NC 27514