Timing the sale of your Milford Home

There really is no way of timing your home.  The key is to plan on getting the most buyers in the door as possible.  Spring and summer are always the time when more Metro Detroit home buyers are out.  Homes sell all year round.  But there are just more buyers out during the spring and summer.  Always start planning to sell your Milford home before you think you need to.

Now that you have decided to sell your Milford home, chances are you are caught up in a host of emotions. You may be looking forward to moving up to a new dream house or facing the uncertainty of a retiring to a warmer climate. You may be reluctant to leave your family home and memories behind or eager to start new adventures. Whatever your feelings you are experiencing right now, there are plenty of practical matters that need your attention. Keep in mind the following planning considerations to help the whole selling process go more smoothly.

So many people think it is a good idea to place your piece of Milford real estate on the market as far in advance as possible of purchasing a new one. The average time on the market for homes for sale in Metro Detroit in 2007 ( a buyers market) was over 6 months.  Now in 2013 many homes are selling under 30 days.  So it depends on whether it is an up or down market on when you should place your Milford home up for sale.   Do not think that just because your home is in good conditions that you will be the exception and sell yours quickly.  Remember there are 4 items that affect selling of your Oakland County home.

If you find a new home first and then try to sell your present home, you may wind up with two mortgages. Years ago if this happened banks would do a bridge loan to help you make the double payments. Very few banks are doing bridge loans in 2013.  Who knows what lenders will be doing 5 years from now. Lenders use the same criteria for offering bridge loans as they use for mortgages. Should you choose to accept a bridge loan, beware of the expense; during the term of the loan you must continue to pay both mortgages. Shop around for the best terms. 
Keep in mind that when people move, sell and buy, there usually is a domino effect. The best plan is to give yourself some time.  Do not plan to close on one house and then the next house in the same day.  Closing and moving dates have to be coordinated, and the more firmly everyone commits to a window of dates and sticks to them, the better for all involved. if you absolutely have to be moved by a certain date, put all agreements about dates in writing, and protect yourself by negotiating financial penalties for failure to comply.  Specify a certain dollar amount for failure to close, or failure to move out by a certain date.  Be sure the money is escrowed by the title company so you do not have to chase somebody for the money.  Give yourself some extra time so you are not stressing out when something gets held up. 

Also after closing give yourself a day or two before scheduling movers.  You would be surprised at how many people are upset out when a closing is delayed or rescheduled because the lender is not ready..  Things happen, banks, mortgage companies, title companies, inspections sometimes get behind and closings have to be delayed.  Safe yourself the aggravation and schedule move in a few days later.  You will be less stressed when moving into your Milford Home.
So the key is when timing the sale of your Milford home is to give yourself extra time.

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