TheSteveStiffler.com

Buying or selling a home can be difficult in todays market.  Here are ten tips for making your next move a simplier task. 

1. Work with qualified lenders: Before starting to work with a bank, mortgage banker, mortgage broker or credit union, get as much information as possible. Check their backgrounds and get an estimate of all their possible fees.

2. Get pre-approved: If there are problems getting pre-approval because of your credit score, get copies of your credit reports and determine if anything on the report is inaccurate or over seven years old, which means it must be removed.

3. Look for a neighborhood first: A great home in an undesirable neighborhood (for any of several reasons) is not very worthwhile from a quality of life or from a home value perspective. Learn as much as you can about the neighborhood (online, from visits or at local libraries) and make sure your needs are met.

4. Make a wish list: Make a list of what you would most like in a new home.  Then prioritize it so you can determine what is most important and which items you are comfortable giving up.

5. Get the inspection done: Have an independent home inspector inspect the home, including the roof, basement, grounds, heating, pipes, and so on. Then make your offer contingent upon an inspection.

If you are selling your home, keep the following in mind:

6. Sell it yourself: If you stay somewhat firm on your asking price, you can do better than you might do with a real estate agent. However you should hire an attorney for all paperwork and the closing.

7. Think about making “improvements”:  While you don’t have to add on a new room, make some basic improvements. Fixing up the house can make a significant difference with a buyer. If the house needs to be painted, use neutral colors, the same with new carpeting. Also make the yard look appealing.  Make sure the yard is mowed.

8. Be careful about making promises: Don’t overcommit yourself. There are some things that you can take care of for the buyer, but others that you cannot. Be able to negotiate.

9. Set a fair price: Be realistic about your asking price and know what other comparable homes in the neigborhood have sold for.  Factor in the location, age of the house, economic conditions and improvements you’ve made. Also, if you post your listing on the Internet, post below the closest round number. For example, if your asking price is $200,000, post $199,000, so that when buyers list that they can afford up to $200,000, your house will come up.

10. Use a real estate agent: If you use an agent, make sure you are working with a seller’s agent. Check their background and make sure they are familiar with your neighborhood. Find out how many homes the have sold in your area. Find out where your home will be listed and commit to no more than three months. If the agent’s doing a good job for you and you’re happy with how things are going, commit to three more months.

Good luck in selling or buying a home!