Tami Murphy, Realtor. Intero Real Estate

That will depend on what your finances dictate. If you are able to buy before selling, it can give you peace of mind knowing you’ve already found your replacement property. You can however structure your purchase offer contingent upon sale & transfer of your current home. Consult with your realtor if the current market conditions warrant that. This ensures you’re not left without a roof over your head. If you don’t find your replacement property in a mutually agreed upon time, the contract can be cancelled. On the flip side, if you sell your home first, this puts you in a better negotiating position for the home you’d like to buy without having to ask for a contingency. Your realtor can negotiate a rent back if needed. Just be certain to disclose this upfront at the beginning of the transaction.

Before going to see homes, You will need a pre-approval letter from a mortgage lender. That serves as your golden ticket to tour homes in person. Up until then, you are welcome to view homes online & do virtual tours. The lender will determine how much home you can afford. This is important so you’re only looking at homes you can afford in your price range. We all need to be realistic with our time & financial resources. Knowing exactly which loan program makes sense for your specific circumstances is critical from the very beginning of the process. A mortgage lender will educate you on the best financing options that fit your scenario. Whether you’re a 1st time buyer or you need to sell before you buy, this is the first crucial step before moving forward with the process.

No. The realtor is paid commission by the seller to represent the home buyer. As a buyers’ agent, your realtor works for free until the day you receive the keys to your new home. Your realtor will help you navigate the home buying process every step of the way. Your realtor is your advocate & represents your best interests.

Your lender will provide you a good faith estimate (GFE) on what your monthly payment will be. Be sure to discuss this with your lender upon pre-approval. Your monthly payment will consist of 4 components . . . . . . . . Principal + Interest + Taxes + Insurance (PITI).

No. You can have as little as 3 ½% down payment. You will however need some additional funds for inspections, appraisal & closing costs. Your lender will go over the needed funds with you.

Your realtor should be in communication with you at least once per week if not more. Have an open discussion with your realtor your preferred method of communication whether it be phone, email or text. It’s important to have clear concise communications at all times. I encourage spouses to be on a group email or text so everyone has the same information.

Many improvements to the home require a permit. The listing of the home needs to match county tax accessors records. So if it was a 2000 sq ft 3 bedroom home & you added a 400 sq ft 4th bedroom, the home must be listed as a 3 bedroom 2000 sq ft home. This scenario is where you’ll often see the term “bonus room” on a listing. If you did not pull permits, it may be a deal breaker for some buyers.

Your Real Estate Professional will use a CMA (comparative market analysis) to determine the value of your home. A variety of factors go into making this determination such as square ft of the home, lot size, how many bedrooms & bathrooms, any upgrades to landscaping (front & back), flooring or kitchen upgrades, age of the roof & location of the home.

Any defects you may be aware of it’s always best to disclose to buyers. Whether there’s a leak in the roof, plumbing issues, electrical problems or a noisy neighbor, it’s your responsibility to disclose those things. It’s recommended you fix known issues before listing the property for sale. You will be provided 2 opportunities to make these disclosures, on the transfer disclosure statement and again on the seller property questionnaire.

Spruce up the outside of your home to give it “curb appeal”. A fresh coat of paint on your front door can do wonders. All those home maintenance items & repairs you’ve been putting off, get those done. A fresh coat of paint on the interior & exterior definitely helps. Declutter & create extra space in every room of your house. Give the home a deep cleaning including washing the windows & make it sparkle inside & out.

The Real Estate Market is on Fire right now. Homes prices at or below market value are getting multiple offers. The average days on market is one of the best indicators as to how the market is doing. Another thing to look for is the average sales price to list price ratio.

There isn’t necessarily a “best time” to sell your home. The serious buyers will be looking at all times of the year based on their needs & motivation to buy. Spring is known to be “selling season” and many homeowners will wait until then to list their home, however; as a seller you will have more competition of homes on the market & buyers have more homes to choose from. Those who sell in the fall & winter will have less competition on the market competing for the buyers’ dollars.