If you are planning on buying or selling real estate in 2013, add these resolutions to your list
People make all kinds of resolutions for the New Year. Starting January 1st, they vow to exercise more, quit smoking, spend less money, eat healthier foods and commit to other personal, financial or business goals. If you are planning on buying or selling real estate in 2013, add these resolutions to your list.
Get Your Finances in Order
Meet with a mortgage professional early in the year to understand a lender's take on your financial situation. If you have any credit issues, now is the time to start fixing them. It can take up to six months for your FICO score to move enough to get you a better mortgage rate, so don't waste any time if you want to buy this year.
Feel Out the Market Early
Do not wait until you are ready to buy to hit up open houses. Take a few months to learn about the market, better understand home values and get a sense of prices in certain areas. You may even meet your future real estate agent at an open house in your preferred neighborhood.
The moment you place a “for sale” sign outside, your home becomes another product on the market. Put your best foot forward by keeping your home free of clutter, updated and clean.
Think About Your Timing and Exit Strategy
Planning a purchase and sale at the same time is a huge stressor. Have a strategy in place before you have to act. Be cognizant of the financial, physical and emotional stresses of selling and buying simultaneously.
FOR BUYERS and SELLERS
Engage a Real Estate Agent Now
Selling or purchasing a home is a process that takes time. Resolve to engage a real estate agent now. They will become your strategic advisor and guide you through the entire process. Their thoughts and ideas will save you money and time, and they will keep you on the right path until you make a final transaction.
Are you planning on buying or selling real estate this year? Share your strategies with our readers in the comments below!