Word to the Wise…MAXIMIZE!
Everybody knows that there is a lack of inventory in our region right now; prices are rising and time on market is low. It should be a snap to put your house on the market and sell it quickly.
One thing that does not change with market conditions is that you can MAXIMIZE your proceeds when your home is properly prepared and staged.
Not only does the property need to be prepared and staged to maximize your proceeds; you’ll need a true professional Broker to navigate the process. One advantage sellers now have is negotiating favorable terms on the purchase and sale contract. Skillful negotiation will MAXIMIZE terms and proceeds.
You might also be looking to purchase a home and if being homeless does not appeal to you; you’ve got to have a great Broker on your side. You’ll want to MAXIMIZE your options.
One option is to access the equity in your current home in order to buy a new home first. In order to use the equity in your home, you’ll likely need short term financing.
Bridge loans or home equity lines of credit (HELOC) are most advantageous for those that have substantial equity and good credit.
Case in point:
Every step Ginny made was with precision in both buying and selling her home to help her maximize her proceeds. Retired, and in her 70’s, she’d made her home her primary investment and counted on her real property to help finance retirement.
Ginny bought her lovely view home in 2006 at the peak of the market. She paid cash with her retirement funds. Two years ago, she called and said she was ready to sell. She took my recommendation NOT to sell at that time and since she had the flexibility to wait, she did just that.
When we agreed that the spring of 2016 was a better time to sell, we considered her options and budget for preparing her home.
Over the years Ginny had paid attention in maintaining her property and took advice on how to invest in the property to keep her home in great marketable shape. With a modest budget, she added a few important improvements just before listing to pump up the appeal.
Ginny was able to take advantage of Windermere’s Vintage Bridge Loan and she was able to buy a condo before we put her home on the market.
We planned and we prepared step by step. We set up a listing that that was orchestrated to allow MAXIMUM exposure to the marketplace. Ginny received 10 offers; each one over the listed price. We truly had not priced the home under value to achieve this but with the staging, marketing and preparation we did MAXIMIZE her proceeds.
The moral of the story is that a quick sale is fine idea but take the time to maximize through home preparation, home staging, excellent marketing and sound advice.