4 Things You Need to Do Before Listing Your House for Sale

If you're eager to move on, you might hastily make an appointment with a real estate agent to list your home. However, the sale of your house is something you should never rush. There are things you need to do before listing a house for sale. This ensures you're able to sell the home quickly, and that you can qualify for your next place. 1. Consult with a real estate agent Before making the decision to sell your home, speak with an experienced real estate agent. The truth of the matter is, you might be unable to sell your home at the present time. A real estate agent can determine whether now’s the right time to put your house on the market. There are several other factors involved, as well. You have to take into account how much you owe your mortgage company, and since you’ll pay the realtor a 6% commission, you have to include this percentage in the sale price of your home. For example, if you owe the mortgage lender $147,000, you’ll have to sell your home for at least $155,000 to pay off the mortgage balance and pay the realtor's commission. Your real estate agent will also look at comparable home sales for the area to determine if you can realistically get the asking price for your property. If home prices have fallen in recent months, your agent may suggest postponing the sell until the market improves. 2. Take a look at your credit If you're thinking about buying a new home, pay close attention to your credit score. You're entitled to one free credit report from each of the bureaus every year. Visit AnnualCreditReport.com to get your free report. Check the report carefully and look for any mistakes or errors that can lower your credit score. You’ll want the highest credit score possible to ensure an approval, and to make sure you receive the most favorable interest rate. That means you need to pay your bills on time and pay off debt. It's also a good idea to get pre-approved for a mortgage before listing your home for sale. You don't want to sell your property, and then discover you can’t qualify for a new mortgage. 3. Save enough money to buy another home Many home sellers use proceeds from the sale as down payment on a new home. But if you don't have a lot of equity, you’ll have to put your personal savings toward the down payment. Make sure you understand mortgage expenses before listing your home for sale. For example, many lenders require a minimum down payment between three percent and 10 percent, depending on your credit score. After you get pre-approved, speak with the lender and ask about down payment requirements. If you don't have enough money on hand, hold off listing the house until you save additional cash. 4. Improve your property If there's a lot of competition in your local area, making improvements to the property can attract attention and help sell the property faster. You can start by improving the curb appeal and de-cluttering the yard and adding attractive landscaping. As far as the interior goes, declutter rooms and closets to maximize space. You can update the kitchen and bathrooms, replace old windows and doors, update the carpet, use neutral paint, and make other repairs. The less a homebuyer has to do to the property, the better. Many people seek move-in ready homes. This results in a quicker sale, and you can get the most money for your home. If you're ready to move you might be excited to put your house on the real estate market. Just make sure you speak with a realtor to weigh the pros and cons, and make sure you have your finances and credit in order to ensure you can qualify for a new place.