: Before Selling Your Home by: Sameer S Panjwani Here are some important steps you should take before you put your house on the market: 1. Home Loan Approval for your next Home You donâ€™t want to be signing a contract

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Before Selling Your Home

by: Sameer S Panjwani

Here are some important steps you should take before you put your house on the market:
1. Home Loan Approval for your next Home
You donâ€™t want to be signing a contract to sell your house before knowing if you are qualified to buy another. Your financial circumstances may have changed since your last purchase and you may not qualify for the loan amount you seek. Youâ€™ll get a good idea of what you can afford by getting a pre-approval before selling your house. You may then take the decision of whether or not it would be reasonable to sell your house at this point of time or maybe consider renting something after selling the house instead of readily buying another.
2. Determine Fair Market Value of your House
Youâ€™d want to get the best price off your property and in the quickest time possible. However, over-pricing your home will only limit your chances of selling fast and under-pricing may speed up the process but you lose out in the bargain. An agent or an appraisal service should be able to assist in determining the fair market value of your home. Another way is judging by how much other houses in your neighborhood sold for. Irrespective of the method, one must be used to determine the true and best value of your home to ensure itâ€™s sold in quickest time possible.
3. Estimate Cost of Selling

Advertising costs, if you plan to sell home yourself.
Real estate commissions.
Attorney, closing agent and other professional fees.
Excise tax for the sale.
Property taxes, home owner association fees, and fuel tank rentals.

4. Make Necessary Repairs
You donâ€™t want to put off a buyer because of minor repairs which you havenâ€™t attended to so far. If youâ€™ve decided to sell your house, itâ€™s time to finish with any pending repairs you may have felt minor and unnecessary to fix up till this point of time.
5. Get the House Ready to Show
Apart from repair work, youâ€™ll also want to see that your house is sparkling clean and everything is organized and in itâ€™s place when a buyer comes to see your place. A clutter-free environment is essential if you want the house to appeal to the buyer.