Essential Michigan Home Selling Preparations
Here are 10 very important steps that every Livonia home sellers should take before listing their home with a Metro Detroit real agent. It really doesn't matter whether it is a Livonia home or a home in Livingston or Oakland County. These home selling tips may save you time, money, and grief. All the work you do before listing your Livonia home does help you get the most return from your investment.
1. Get Pre-Approved For A Home Loan on your next Wayne County home
It does not matter whether you think you have great credit or if you have lots of money. I have known potential home buyers that were sure they could buy a new home only to find out they could not. Some of the reasons why they could not is mortgage lending rules have changed, people have had their identities stolen and not know about it, or a credit blemish was on their credit report. All of these items were unknown to these buyers. THEY COULDN'T BUY THIER NEXT HOME! Either their financial circumstances had changed since their last purchase, and they could no longer qualify for a loan, or they weren't able to sell at a price that allowed them to buy the type of replacement house they wanted. They ended up renting or buying something that was far from ideal. So know you can buy before you sell and become homeless.
Before you decide to sell your Livonia house, get pre-approved by a lender you trust and research the housing market in the area where you wish to live so that you have a good idea how much it will take to buy a replacement home.
2. Find out what you owe on your current mortgage or (payoffs if you have a second mortgage)
Call your lender to check the payoff for your current home mortgage. Again many potential buyers are surprised at this number. Many home owners forget that their is interest added to the current loan balance.
3. What is your Livonia home really worth?
Determine your home's fair market value by asking me to do a comparative market analysis for you. You may take it a step further and order an appraisal for a second opinion. Remember that the appraiser really does not put full value on the condition of your home. So your Livonia home could be in below average condition that may net you less than the appraised value. Or your home may be close to power lines and the appraiser would not take that into account.
4. What are my costs to sell my Livonia home?
There are three major costs in selling Michigan real estate:
1.) Real estate commission
2.) State transfer tax on the sale
3.) Sellers' title policy
I deal with real estate transactions every day and can give you a very close estimate of seller closing costs. This is important to know. You will want to know what you will net after the sale of your home.
5. What is the cost to buy a new Wayne County or Oakland County home?
Take out your calculator to figure out moving expenses, loan costs, down payment, home inspections, title work and title policy, and paying for a new home owners insurance policy--all expenses related to buying a Wayne County home. Your lender should give you an estimate of all the costs when you apply for loan pre-approval.
6. What will be your Estimated Proceeds when selling your Livonia home?
Deduct your mortgage payoff from your Livonia home's fair market value. Then deduct your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing. This will tell you equity you really have in your current home. Will your equity cover your down payment and costs to buy a new home? If not, do you have cash or other funding to make up the difference?
7. Get your piece of Livonia real estate ready to sell - Make Necessary Repairs
Michigan home buyers love updated and move in ready houses. Sometimes an updated move in ready will sell above the top of the market prices. A move in ready house will sell in half the time that other so-so houses take to sell. It does make a major difference in what you put in your pocket. It is best to make all needed repairs unless you want the house to be regarded as a fixer-upper. I'm not referring to cosmetic updates--just items in need of repair. Anything that's obviously broken gives potential buyers a reason to offer you a lower price, especially if it's one of several repair hot spots that worry buyers the most.
8. Get your home showing ready
Most of us live life. Our homes do not show like model homes every day of the week. Your Livonia home may need a a little spiffing up before it is shown to potential buyers. Great curb appeal, freshly painted, de-cluttered, de-personalized, organized closets and cabinets, sparkling clean windows help to sell your Livonia home for more money. You need to do these things if you want the house to appeal to the biggest pool of buyers.
9. Get in the Mind Set to sell your house and Let People In
If you're listing with a me, I will ask you to leave when the house is shown. Why? Because lurking sellers make buyers nervous--they don't feel comfortable inspecting the house when they feel they are intruding in your personal space. They like to talk openly about your house. Make your house accessible. That means it should always be ready to show. Many agents won't bother showing a house that takes 24 hours to get into. If you turn down showings that buyer may never come back.....so be ready to show.
10. Put away your valuables
Do you have jewelry, coin collections, or money laying around? Important papers and expensive items should be put in a safe, safety deposit box, or hidden very well. Another item is the real estate papers you have signed with me. You would be surprised how many people leave these out. You have a seller's net sheet in this paperwork. It tells a buyer what you can afford to sell the house at. Buyers look at anything laying around. So put away anything that is private. Do not leave it on the counter top or on top of the desk.
I hope these Livonia home selling tips help you prepare your home to sell wherever it may be. My goal as your realtor is to help you get the most money possible for your home. If you are thinking of listing your home.....give me a call and I will be glad to do a walk through and tell you what is needed to prepare your home for sale. Call me on my cell at (248) 310-6239
Check out Oakland County lakes by size for a quicker search.
Here is a Just for Kids page that your kids are sure to love and to be able to explore some fun educational activities.
What you may owe Uncle Sam - Northville Real Estate
Northville Heights Subdivision Northville Michigan
Broadmoor Park subdivision Novi Michigan
Country Club Village condominium
Buying a home is all about Looking past the decor
$93,000 2830 Dixie Highway Waterford Township, MI Beds: 0 • Baths: 0 $159,900 851 UNION Street Milford Vlg, MI Beds: 1 • Baths: 1 full $875,000 43484 Scenic Lane Novi, MI Beds: 4 • Baths: 3 full/1 partial $2,500.00 880 Hemingway Road Orion Township, MI Beds: 3 • Baths: 2 full $329,000 17145 Wisconsin Street Detroit, MI Beds: 5 • Baths: 3 full
Privacy Policy / DMCA Notice / ADA Accessibility
