3 Critical Steps to Take Once You're Ready to Sell
Deciding to sell your home brings on a lengthy list of questions, and "Where do I start?" typically tops that list. Take the following three steps first, and you'll be safely on your way to a successful home sale.
- 1. IDENTIFY LIENS AND DISPUTES Shortly after you accept an offer on the home, the title company will perform a title search, checking public records to ensure that you have a legal right to sell the home and that there are no liens against it. Think back – have you had any IRS, property tax, spousal, child support, or bankruptcy issues? If so, there may be a lien against the property, and it will need to be released before the sale can go through.
- 2. CHECK YOUR LOAN DOCUMENTS
You'll want to find the following items in your loan paperwork:
• An assumable clause. An assumable loan is a good selling point.
• How the title is held.
• Check for a pre-payment penalty. This will help you determine your proceeds.
• Who else is on the home's title? That person will need to be present whenever documents pertaining to the listing and sale need signatures.
• The loan balance. - 3. TAKE STOCK Decide if you'll be selling the home as-is or if you'll be making repairs. Keep in mind that certain lenders and governmentbacked loan requirements include that specific repairs be made by the seller.
Once you have considered the previous issues, it's time to pick up the phone and give me a call for the next step