Selling Vancouver Homes Avoid Mistakes When Trading Up
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Selling Vancouver Homes Avoid Mistakes When Trading Up
Unlike the experience of buying a first home, when you’re looking to move-up, and already own a
home, there are certain factors that can complicate the situation. It’s very important for you to
consider these issues before you list your home for sale.
Not only is there the issue of financing to consider, but you also have to sell your present home
at exactly the right time in order to avoid either the financial burden of owning two homes or,
just as bad, the dilemma of having no place to live during the gap between closings.
Six Strategies when Selling Vancouver Homes Avoid Mistakes When Trading Up
In this report, we outline the six most common mistakes homeowners make when moving to a larger
home. Knowledge of these six mistakes, and the strategies to overcome them, will help you make
informed choices before you put your existing home on the market.
1. Rose-colored glasses
Most of us dream of improving our lifestyle and moving to a larger home. The problem is that
there’s sometimes a discrepancy between our hearts and our bank accounts. You drive by a home that
you fall in love with only to find that it’s already sold or that it’s more than what you are
willing to pay. Most homeowners get caught in this hit or miss strategy of house hunting when
there’s a much easier way of going about the process. For example, find out if your agent offers a
Buyer Profile System or House-hunting Service, which takes the guesswork away and helps to put you
in the home of your dreams. This type of program will cross-match your criteria with ALL available
homes on the market and supply you with printed information on an ongoing basis. A program like
this helps homeowners take off their rose-colored glasses and, affordably, move into the home of
their dreams.
2. Failing to make necessary improvements
If you want to get the best price for the home you’re selling, there will certainly be things you
can do to enhance it in a prospective buyer’s eyes. These fix-ups don’t necessarily have to be
expensive. But even if you do have to make a minor investment, it will often come back to you
tenfold in the price you are able to get when you sell. It’s very important that these improvements
be made before you put your home on the market. If cash is tight, investigate an equity loan that
you can repay on closing.
3. Not selling first
You should plan to sell before you buy. This way you will not find yourself at a disadvantage at
the negotiating table, feeling pressured to accept an offer that is below-market value because you
have to meet a purchase deadline. If you’ve already sold your home, you can buy your next one with
no strings attached. If you do get a tempting offer on your home but haven’t made significant
headway on finding your next home, you might want to put in a contingency clause in the sale
contract which gives you a reasonable time to find a home to buy. If the market is slow and you
find your home is not selling as quickly as you anticipated, another option could be renting your
home and putting it up on the market later – particularly if you are selling a smaller, starter
home. You’ll have to investigate the tax rules if you choose this latter option. Better still, find
a way to eliminate this situation altogether by getting your agent to guarantee the sale of your
present home (see point number 5 below).
4. Failing to get a pre-approved mortgage
Pre-approval is a very simple process that many homeowners fail to take advantage of. While it
doesn’t cost or obligate you to anything, pre-approval gives you a significant advantage when you
put an offer on the home you want to purchase because you know exactly how much house you can
afford, and you already have the green light from your lending institution. With a pre-approved
mortgage, your offer will be viewed far more favorably by a seller – sometimes even if it’s a
little lower than another offer that’s contingent on financing. Don’t fail to take this important
step.
5. Getting caught in the Real Estate Catch 22
Your biggest dilemma when buying and selling is deciding which to do first. Point number 3 above
advises you to sell first. However there are ways to eliminate this dilemma altogether. Some agents
offer a Guaranteed Sale Trade-Up Program that actually takes the problem away from you entirely by
guaranteeing the sale of your present home before you take possession of your next one. If you find
a home you wish to purchase and have not sold your current home yet, they will buy your home from
you themselves so you can make your move free of stress and worry.
6. Failing to coordinate closings
With two major transactions to coordinate together with all the people involved such as mortgage
experts, appraisers, lawyers, loan officers, title company representatives, home inspectors or pest
inspectors the chances of mix-ups and miscommunication go up dramatically. To avoid a logistical
nightmare ensure you work closely with your agent.
To Find out more about Our Sellers Guaranteed Programs and Selling Vancouver Homes Avoid Mistakes When Trading Up, fill and submit the form on this page. In the “Notes” box include a code “guaranteed programs”
1. If we can’t bring you an offer for our guaranteed price in 90 days, we’ll SELL your property for FREE. You will only pay the buyer’s agent portion of the commission* (Conditions apply)
2. If another Realtor® or Brokerage offers you a more comprehensive marketing program, we’ll SELL your property for FREE. You will only pay the buyer’s agent portion of the commission.*(Conditions apply)
3. ANY BUYERS in your area will know that your property is for sale. Thanks to our Referral Fee incentive program, the rest of the public, will be encouraged to recommend your property to friends, relatives or colleagues.
4. At ANY TIME during the listing agreement, on your request, we will CANCEL it. No questions asked.
To Find out more about Our Unique 237 step-by-step Comprehensive Marketing Plan go to Our Marketing Plan
VIP Buyers Guaranteed Programs
1. If within one year, you are not happy with the purchased property, we’ll SELL IT FOR FREE. You pay only the buyer’s agent portion of the commission* (Conditions apply)
2. If we don’t SAVE you at least 1% on your home purchase price, on completion date we’ll pay you back 10% of our net commission* (Conditions apply)
3. Our services are COST FREE for you. Our commissions are paid by the sellers.
To find out how you benefit from our Buyers FREE Real Estate services, go to FREE Buyers Services
Your referrals are greatly appreciated and very well rewarded. For information on how to earn $500.00* or more visit our “Referral Program” page.
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