The secret to a successful relocation is timing -- synchronized buying, moving and selling. Good timing just takes a little advance planning that puts you in control. Here are seven relocation secrets to make your move work smoothly for you.
- Sell First Ideally, you should sell your current home first in order to have all your financial resources available to purchase your next home. You want to avoid waiting until the closing on your new home forces you to sell your old home under the gun. Note that in some markets today, houses are moving so quickly that sellers will not even consider taking a contingency clause that postpones their sale until the buyer's home sells. Setting the right price for your home and having a customized marketing plan are your best bets for bringing about a quick sale.
- Find Out What You Can Afford While your house is on the market, look at what's available to buy within your price range in your destination area. Your perfect house is out there, but take as much time as you can to find it. It's not just the house you'll have to live with -- you'll want to find out about the neighbourhood, the schools, proximity to shopping, etc. before you commit to your next home.
- Shop For A Loan Before You Shop For A House to lock in the best rate you can find. Get pre-approved for financing so you have more bargaining power when you bid on a house. With a pre-approved loan, you'll be able to go to closing on your new house faster.
- Coordinate Settlements And Moving Dates to move directly from the old home to the new one. Sometimes you can rent back the old property for a few days or weeks if closing on the new one is delayed. Another alternative is an interim move to an apartment for a short time while waiting to close on the new house.
- Begin Fix-Ups And Pre-Sale Improvements Early Have any needed work completed before your house goes on the market. Consider having a home inspection early in the fix-up process so you know what's important to repair or replace before you set the sales price for your house.
- Work Closely With Your Agent Make sure every "i" is dotted and every "t" crossed on time for both closings. You may save time and money for the buyer of your old home with lower "re-issue" fees by referring them to the previous providers of inspections, surveys, title insurance, etc. The information is in your settlement papers. And, if it's a busy season, line up appointments in advance with the people you'll need to close on your new house.
- Avoid The Last-Minute Rush Call us early. We'll gather information and provide it to you quickly so you can make informed decisions and workable plans.