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When is the Right Time to Sell?
Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home.
The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
When is the Wrong Time to Sell?
This likely won’t come as a big surprise: you should avoid selling your home during the winter holiday season. Tensions run high during the holidays and budgets run low. The result? No one’s really itching to buy, and offers that do come in are often low. So as a general rule of thumb, avoid the months of December and January when selling a home.
What is the Best Season for Selling?
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.
What is the Best Day for Selling?
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers.
In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.
How Can a Real Estate Professional Help Me Buy a Home?
Buying a home can be an overwhelming process. From financing to negotiating to closing, there are a lot of moving pieces that can leave homebuyers bewildered.
A real estate professional can help guide you through each step of the buying process, offering sound advice along the way. By working with a real estate professional who knows the ins and outs of the real estate industry, you’ll not only end up with a great home, but you’ll also walk away with a great experience. Here are some of the key areas that a real estate professional can help you with:
Getting Pre-approved By a Lender
By providing your real estate professional with some basic information about your income, savings, and debt, he or she can assist you in getting pre-approved by a reputable lender. The lender will then go over your financing options, what monthly payment amount you can afford, and what you can expect for down payment requirements and closing costs.
Making an Offer
Once you’ve found the home of your dreams, a real estate professional will research recent comparable sales of similar homes in the area to help determine a fair selling price. Based on those comparable sales, as well as other factors like inspections and repairs, a real estate professional will then help you structure an offer and negotiate to get the very best deal possible.
Closing, or settlement, can be a complicated process. In some areas, the escrow or title company handles the closing process, while in other areas an attorney handles it. Regardless of where you’re buying, a real estate professional can help ensure that everything goes smoothly.