Are You In Shape To Purchase Your Next Home?
You have lived in your O Fallon MO home now for awhile and are ready to go to your "next" level in a home. This could be a larger home because your family is growing and your home is not, or your family has grown up and move away and now you need something smaller. I call both of these scenarios "Right Sizing". Either way you have a home to sell before you are able to buy your next home and you are wondering just how to handle this situation that you are finding yourself in.
Getting yourself prepared to purchase a new home takes planning. When you currently own a home and need to sell the current home as well as purchase, the planning of the sale and purchase can be best managed with diligent consideration of the following items:
- Realistically pricing your current home based upon the comparable homes that have recently sold in a similar location with similar amenities and upgrades. I would suggest using comparables for the last four (4) months and not the traditional six (6) months due to the continual change in the marketplace.
- Do not price your current home upon what you would like to purchase. Remember your home will have to appraise for the agreed amount in the contract and if you are over priced and it doesn't appraise then you will be faced with having to reduce the sale price to the appraised amount or possibly lose a buyer and still have to reduce the asking price.
- Consult a mortgage loan officer to understand your financing options:
- Understand the current marketplace:
What is the average time on the market for homes in the same price range?
What is the average time it takes to go from contract to closing?
- Although it might be difficult to imagine not purchasing a new home until your current home is under contract and contingencies have been met, you will be in a better position to negotiate with a new seller.
So, let me ask "Are You In Shape To Purchase Your Next Home?"
Other related seller topics:
Other related buyer topics:
Remember if you are looking for an agent in O'Fallon Missouri or anywhere in the St Charles County Missouri area to list and sell your home give Don Rogers a call at 314-954-6775 or send me an email at Don@DRogersHomes.com and we can begin the home selling process. There are a lot of real estate agents the St Charles County area but none better to give you the proper information and help to get your home SOLD.
Helping you achieve your next level of the American Dream. Ready?
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Don Rogers is a licensed REALTOR® in Missouri. I specialize in St. Charles County Missouri and have called O Fallon MO my home since 1993. If you are looking to buy or sell or you are relocating to the area and would like information about the St Charles County MO area do not hesitate to give me a call at 314-954-6775 or if you would prefer to send me an email.