| SELLING BEFORE A DEADLINE
Selling quickly to meet a
deadline is a common concern for home sellers. A recent National Association of
Realtors survey found that 55% of home sellers were in a hurry when they put
their home for sale. Some of the most important items to keep in mind when
selling with a deadline are:
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Preparing your home for
the sale
In most neighbourhoods, if you must close on your home
sale within 8 to 10 weeks, then you should put your home on the market quickly
and not delay for home preparation. Remember, most closings occur 4 to 6 weeks
after you have found a buyer and agreed on price. Consider hiring a cleaning
service to thoroughly clean your house if you don't have time. Follow the advice
contained in Preparing Your Home, but remember that any
delay in preparing your home may be costly.
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Pricing your home for
sale Pricing appropriately is even more important for sellers
with a deadline. Consider hiring an appraiser that can quickly suggest a value for your property.
Calculate the financial and dollar cost of missing your deadline. If you are
relocating to another city, don't forget to calculate:
- the cost, time, or financial risk of buying another home
without your current home sold;
- the cost and time required to get temporary housing if you
need your current home to sell before you buy another home in your new city;
- the cost and time required to maintain and secure your home
when you are out of town,
- the cost and time required to visit your family members who
stay with the home until it sells,
- the cost and time of keeping pets in a kennel,
- the reduced purchase price you will receive because your home
is vacant when it is shown,
- travel expenses returning to your town to move your
personal belongings or attend closing, and
- any other costs or time your missed deadline may
require.
See our recommendations for Pricing your Home for
further advice.
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