- While life events like a family milestone or a new job can encourage you to sell your home, the decision often involves many other factors. Understanding your finances, your timeline, and how you’ll sell can provide good insight into whether you’re ready to sell your home. Online estimates can be as far off as your assessors taxable value so skip clicking on the ads for "FREE HOUSE VALUE" and use your taxable value as your estimate.
- A good place to start is to understand the amount of equity you have in your home, and if the proceeds from a sale can cover the total costs of selling, moving, and potentially putting a down payment on your next home. Use our home sale calculator to estimate your costs and net proceeds.
- Timing can also impact whether you’re ready to sell. You can get a good signal of how long it will take to sell your home by looking at the average Days on Market for similar homes in your area. You may need to also consider the impact of market trends on your home value and goals.
- There are many ways to sell a home, each with their different advantages. Compare the costs and benefits of the traditional process with alternatives like selling to an investor or iBuyer. Having a plan is a good sign you’re ready to start the process.
10 Things to Consider Before Selling
- Take the Quiz: Should I sell?
Selling with a Real Estate agent vs iBuyer (Cash Offer) vs DIY
- The bottom line: You have to know what is most important to you. Your time? Your money? Headaches and legal liabilities?
- If you need top dollar, then you need to put in the work AND hire a Certified Residential Specialist to have the fewest headaches and legal liabilities.
- If you just need to get out of your house without doing any work, you need an investor or iBuyer that can close quickly without a loan - but they are in this to make money so you are certainly NOT getting top dollar. You are paying them to for convenience.
- If you want to try to DIY (sell it yourself) be prepared to still pay an agent or attorney in addition to a title company if you want your sale to include all the legal appropriate disclosures and sale documents.
Call Sarah First, Inc. is not a financial, tax, legal, insurance, or investment advisor, and this article is meant for informational purposes only. Call Sarah First, Inc. always encourages you to reach out to an advisor regarding your own situation.