Preparing For Homebuying And Selling

Dated: 03/10/2017

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Spring has sprung, which means the housing market is in full bloom. Each year, roughly 40 percent of real estate transactions occur between the months of May and August. If you're feeling inspired to buy or sell a home this season, make sure you're prepared. Use these checklists to catch anything you may have missed.

When You're Ready to Buy a Home
Purchasing a home is one of the biggest transactions you'll ever make. Whether it's your first time or the fifth, do the following prep work:

  • Calculate what you can afford. Use a home affordability calculator to make sure you're ready for the mortgage payments (or higher payments if you're buying up).

  • Check your credit score, and fix any inaccuracies you discover. Errors can impact your ability to get a good interest rate.

  • Save up for a down payment. Most lenders require 5 to 20 percent, and larger down payments may the amount you pay each month.

  • Be ready for additional closing costs. Plan to have about 6 percent of the home's purchase price on hand to cover other taxes, fees or necessary maintenance.

  • Re-evaluate your insurance coverage, and update all your policies, including life and car insurance.

When It's Time to Sell
Putting your home on the market is a process that can take months. Before you do, complete this home seller to-do list:

  • Declutter, clean and get your home ready to show. You only have one chance to make a first impression.

  • Take inventory of what needs to be fixed, make a schedule to complete any updates, such as roof work, new paint or landscaping.

  • Decide on an appropriate selling price. An agent can pull comps in your area to give you a better idea of your home's value.

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Chris Broz

My name is Chris Broz with RE/MAX Advantage Plus. I'm an outgoing, fun-loving person with an insatiable drive and a knack for creativity. I am a full-time REALTOR licensed in Minnesota and Wisconsin w....

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Preparing For Homebuying And Selling

Spring has sprung, which means the housing market is in full bloom. Each year, roughly 40 percent of real estate transactions occur between the months of May and August. If you're feeling

Read More