10 Steps Before Selling Your Home


1.  Get Pre-approved for a Home Loan

Market conditions change rapidly and you do not want to get caught off guard with any unexpected issues involving your credit, so be sure to get pre-approved before you get into the home buying or selling process.  Find a mortgage 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.  Start looking for two types of real estate: houses that seem to match the one you'd like to buy and houses that are similar to your current home.

Remember:  Jerry Brooks can show you any property (regardless who the listing agent is) and you can use this website to search the entire MLS and find any property in the area!

2.  Check Your Mortgage Payoff

Call your lender to find out the payoff for your current home mortgage. You'll need the figure to complete Step 6.

3.  Determine How Much Your House is Worth

Determine your home's fair market value. Jerry can help you by doing an initial Comparative Market Analysis (CMA) report to see what recent home sales have been in your area.

4.  Estimate Your Costs to Sell Your Existing Home

Jerry deals with transactions every day and can provide you an estimate of seller closing costs including, but not limited to, the following: real estate commission; advertising costs, signs, or other listing agent fees; attorney, closing agent and other professional fees; excise tax for the sale; prorated costs for your share of annual expenses, such as property taxes, home owner association fees, and any other fees typically paid by the seller in your area (surveys, inspections, etc.).

5.  Determine Your Costs to Acquire a New Home

Total all expenses related to buying a new home including, moving expenses, loan costs, down payment, home inspections, title work and policy, new hazard insurance policy, etc.  Your lender should give you a disclosure of estimated costs when you apply for pre-approval of your home loan.

6.  Calculate Your Estimated Proceeds

Will your closing proceeds cover your costs to acquire a new home?  Will you have cash or other funding to make up the difference?  Calculate your proceeds by deducting your mortgage payoff from your home's fair market value and deducting your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing.

7.  Make Necessary Repairs on Existing Home

Make all major priority repairs.  Make a list of low to high priority items.  These would not be identified as cosmetic updates, but items in need of repair (anything that might give a potential buyer reason to submit a lower offer).

8.  Get the House Ready to Show

Most houses need at least a little spiffing up before they are shown to potential buyers. Great curb appeal, fresh paint indoors (and sometimes out), organized closets and cabinets, clean windows and appliances, and a clutter-free atmosphere are essential if you want the house to appeal to buyers.

9.  Make Your Home Accessible and Comfortable

That means your house is always ready to show. Many agents won't bother showing a house that takes 24 hours to get into. Don’t crowd home buyers when they are viewing your home and make every effort possible to make them feel comfortable while in your home.

10.  How to Find a Real Estate Listing Agent

Basically, there are many agents who all adhere to the same professional standards or code of ethics established by the National Association of Realtors, but here are some things you should consider in finding an agent and why you should do business with Jerry Brooks:

Its important to feel comfortable with an agent's personality, professionalism and ability to serve or assist you in your home buying/selling process.  You should also find an agent who has a good website that provides you with ample educational resources, information about the area, offers you services and has a good MLS search and detailed information on listings you are interested in.  Find an agent who will offer you prompt professional service and who is knowledgeable and will help guide you through the real estate process.

Ask me for referrals. Don’t do business with me because I have a nice website, let my previous customers tell you how I serviced them!  Make an appointment and interview me, ask me about my marketing practices, affiliations, placement in MLS, services offered, commission rate, etc.  Get a feel for my knowledge and experience of the industry and the area and more!



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