The buying and selling tips you need to know before you relocate
The secret to a successful relocation is timing. Good timing takes some advanced planning to put you in control. We know that relocating may be the most stressful move you’ll make, so we’ve put together 7 relocation tips to make your move a little more effortless:
1. Sell First
Ideally, you should sell your current home first in order to have all your financial resources available to purchase your next home. You want to avoid waiting until the closing on your new home forces you to sell your old home under the gun. Note that in some markets today, houses are moving so quickly that sellers will not even consider a contingency clause that postpones their sale until the buyer's home sells. Setting the right price for your home and having a customised marketing plan are your best bets for bringing about a quick sale.
2. Find Out What You Can Afford
While your house is on the market, look at what's available to buy within your price range and in your desired location. Your perfect house is out there, but take as much time as you need to find it. You'll want to find out about the neighbourhood, schools, proximity to shopping, etc. before you commit to your next home.
3. Shop for a Loan Before You Shop for a House
Try to lock in the best rate you can find. Get pre-approved for financing so you have more bargaining power when you bid on a house. With a pre-approved loan, you'll be able to go to closing on your new house faster.
4. Coordinate Settlement and Moving Dates
Try to move directly from the old home to the new one. Sometimes you can rent back the old property for a few days or weeks if closing on the new one is delayed. Another alternative is to rent an interim apartment while you wait to close on the new house.
5. Begin Fix-ups and Presale Improvements Early
Complete any repairs on your home before it goes on the market. Consider having a home inspection done early so that you know what needs repairing or replacing before you set the sale price for your house.
6. Work Closely With Your Agent
Make sure every "i" is dotted and every "t" crossed on time for both closings. You may save your buyer time and money by referring him or her to the previous providers of inspections, surveys, title insurance, etc. The information is in your settlement papers.
7. Avoid the Last-minute Rush
Call us early. We'll gather information and provide it to you quickly so you can make informed decisions and workable plans.