So, you’ve decided that you want to sell your home. Maybe you’ve outgrown your place. Maybe you want to start a family. Maybe you are changing jobs and need to move out of the area. Maybe you got tired of the street you’re living on. Maybe you have gotten ill, or lost your job, and you can no longer afford your home. Maybe you’re an investor looking to updrade and need a 1031 exchange. No matter what your reason for selling, you must become fully aware of it and decide exactly what your needs will be when you sell.
OK. So the most obvious answer to “needs” question is money, right? Cold hard cash? But there are lots of other things to consider.
Do you need to sell your place before buying your next place? Then you may want the buyer to give you a rent-back on your property. You may need to occupy the property after the sale, and may want a buyer that is willing to let you do so.
Or maybe you used equity from your first home to purchase your next home, but your new home isn’t ready yet? Maybe a long escrow period will suit you better than a rent-back will.
Maybe you have a baby, or maybe one is on the way? How will property showings affect your life? What if it’s baby’s naptime? Or mommy’s naptime for that matter? Buyers want to see your place during odd hours. What can you do to minimize that stress?
Or what if you need to get out of Dodge (or in this example, San Francisco) in a jiffy? Maybe you’re better off with a shorter marketing period and a shorter escrow, but a little less profit.
Every seller out there has different needs, and while a high purchase price is most likely always a priority, there are many other factors to consider.
Now, don’t go racking your brain trying to figure out every possible scenario that could come up when you finally get an offer on your home, there will be time for that once you’re reviewing all of the offers you’ve received with your REALTORÂ®. But before you really begin your home search, you must be able to identify your needs. In fact, until you truly can identify why you are selling, don’t bother going to Step 2 of the home selling process. If you can figure out the “why”, once you pick your agent, he or she will be able to help you fine tune your priorities.
Stay tuned for Step 2 to Selling Your Home Successfully in San Francisco – Get Your Property Evaluated, and Then Do It Again!