Step 2 - When to Sell
When is the best time to sell?
Any time of the year is the right time, if you want to or need to move. There are advantages and disadvantages to listing and selling at any specific time. In addition to supply and demand and other economic factors, the time of year you choose to sell will have effects. Generally there are more homes on the market as early as February, with the strongest selling season usually lasting through May and June.
With the onset of summer, fewer homes may be listed, which may make it a good time to list because there are more buyers and fewer homes for sale. Listing activity picks again in the Fall when there tends to be more available.
Sellers often wonder whether or not they should take their homes off the market for the holidays. Generally speaking, you'll have the best results if your house is available to show to prospective buyers continuously until it sells. After all, the holiday season is a wonderful time to show your home while it's filled with the sights and smells of the season.
To assist you in deciding exactly when to sell your home, take these things into consideration:Sell your home before you buy a new home.
- Pro-You'll know exactly how much you have to spend on your new home because you'll already have the earnings from selling your present home.
- Con-The home of your dreams may not be on the market right now and you could be forced to a move several times.
- Pro-You'll have found your perfect home, and you can put your existing house up for sale.
- Con-You won't know exactly what your net proceeds are until you sell your home. You also won't know how long it will take to sell your home. Make sure your agent assists you by pricing your home competitively. You'll also need to discuss with your agent the special financing options available to you if you wait to sell your home.
- Pro-In this scenario, you are not obligated to buy the house you've found unless you sell your house.
- Cons-You are never certain whether that dream home is really yours until your have an acceptable offer on your existing home AND it is closed. Also, you tend to lose your negotiating power as a buyer in this scenario.
Step 3 Preparing to Sell