• Home
  • BUY
  • SELL
  • BUILD
  • INVEST
  • GINA
  • REALTALK
  • MORE
    • WEICHERT TEAM
    • MBH SETTLEMENT GROUP
    • OLD TOWN
    • CONTACT
  • More
    • Home
    • BUY
    • SELL
    • BUILD
    • INVEST
    • GINA
    • REALTALK
    • MORE
      • WEICHERT TEAM
      • MBH SETTLEMENT GROUP
      • OLD TOWN
      • CONTACT

  • Home
  • BUY
  • SELL
  • BUILD
  • INVEST
  • GINA
  • REALTALK
  • MORE
    • WEICHERT TEAM
    • MBH SETTLEMENT GROUP
    • OLD TOWN
    • CONTACT
3-6 MONTHS BEFORE YOU LIST YOUR HOME

FINANCIAL PREP

Selling your home can be a challenge but if there isn’t pressure to sell, you can wait for the ideal offer and price you want. Take into consideration your career, family, school, any medical concerns or financial pressures. 

 

•  Collect key documents

•  Calculate home repairs

•  Calculate your equity

Free home evaluation

ASK YOURSELF

WHY AM I SELLING?

LIFE CYCLE REASONS?

WHY AM I SELLING?

•  What will a new home offer me?  

•  Does the house need any repair?

•  Do I have enough equity?

PERSONAL REASONS?

LIFE CYCLE REASONS?

WHY AM I SELLING?

•  See family more often or less

•  Priorities or interests have changed

•  Want a fresh start or a change

LIFE CYCLE REASONS?

LIFE CYCLE REASONS?

HOME RELATED REASONS?

•  Empty nest

•  Change in relationship

•  Death in the family

HOME RELATED REASONS?

HOME RELATED REASONS?

HOME RELATED REASONS?

•  Home is too small

•  Made a mistake

•  The neighborhood has changed

FINANCIAL REASONS?

HOME RELATED REASONS?

FINANCIAL REASONS?

•  Moving up in the world

•  Deferred maintenance

•  Cash in equity

BUSINESS REASONS?

HOME RELATED REASONS?

FINANCIAL REASONS?

•  New job or promotion

•  A job transfer or relocation

•  Retirement

WHERE TO START

TIME TO GET ORGANIZED

It’s a good idea to carefully evaluate your finances and how much leverage you have before you jump into listing your home. Some of this you may have on hand and the rest you can collect as you go through the process.


•  Original sales contract for your house

•  Property survey

•  Certificate of occupancy

•  Mortgage and financing documents

•  Tax records: real estate, school, etc.

•  A professional appraisal from home purchase 

•  Homeowners’ insurance documentation

•  Home inspections report

•  Receipts for improvements, upgrades, etc.

•  Maintenance & repair records

•  Manuals and warranty information

•  HOA Documentation (if applicable)

•  Builder contract (if applicable)

CALCULATE YOUR EQUITY

TIME TO FIND OUT HOW MUCH YOU HOME IS WORTH

DETERMINE THE VALUE 

One is to simply hire a professional appraiser, who will examine all the data on recent nearby sales and factors in your home’s size, features, age, condition, location and other traits to provide an unbiased estimate. Another way is to ask a real estate agent for a comparative market analysis (CMA), which is a detailed report on recently sold homes in your neighborhood. 


The information in a CMA will help guide you to a competitive asking price. If you’re willing to put in a little time and do the research yourself, you can conduct your comparative market analysis. Once you have an estimate, check out your current mortgage bill or other mortgage documents for the amount you owe your lender, including any second mortgage or line of credit you might have as well. Now you can subtract what you owe from what your house is worth to get a rough idea of your equity. 


If your home is worth approximately $265,000 and you owe $135,000 to your mortgage lender, you have $130,000 of equity. 


Current value of your home – What you owe your mortgage lender = Your equity

$265,000 - $135,000 = $130,000

CALCULATION EXAMPLE

DETERMINE NET EQUITY 

Your next step is to figure out your net equity, which is your total equity minus the expenses you expect to pay as you move through the selling process.


Repairs $2,500

Improvements: $2,500

Agent Commission: $15,900 

Appraisal: $300 

Title Insurance: $1,200 

Attorneys Fee: $500 

Moving: $1,500 

Other fees (inspection, etc.): $500


Total equity - fees and costs = Net equity

$130,000 - $24,900 = $105,100

FREE HOME EVALUATION
CONTACT ME

Subscribe To Newsletter

Connect With Us

Copyright © 2018 [GINABACA] All Rights Reserved

Built by Gina Baca | Powered by GoDaddy

  • Home
  • GINA
  • REALTALK
  • WEICHERT TEAM
  • MBH SETTLEMENT GROUP

Secure Site

I use cookies to provide special features.

Close