What To Do When Closing Dates Don’t Match

If you want to sell your current property and purchase your next dream home, you might be concerned that the closing dates need to be on the same day.

You might be worried about losing a property if the closing dates overlap, or being put out on the street if the dates are far apart!

For the most part, these concerns are unfounded. Thousands of properties change hands every day and usually everything works out just fine. In fact, it’s amazing how often closing dates actually do match!

But what happens if the closing date of the home you want to buy is days or weeks earlier than the closing date of your own property?

Most lenders anticipate this situation and offer something called “Bridge Financing.” This is a special loan that allows you to purchase the property with the earlier closing date. When your current property closes, the bridge financing ends and your new mortgage – if you need one – begins on the new home.

Alternatively, if the home you want has a later closing date, your real estate professional can help you explore options, such as finding a short-term rental.

The Emotional Side of Selling

Let’s face it. Selling your home is as much an emotional decision as it is a practical one.

Sure, in some ways, a property is a “product”. You want to sell that product quickly and for the best price, so you can buy your next dream home.

A home, however, is also a place filled with memories and emotional attachments. You’ll think of the rec room where the kids’ birthday parties were held; the dining room where you had countless family dinners; and the backyard deck where many afternoons were spent enjoying the sunshine.

That’s why managing the emotional side of selling your home is so important. Here are some tips:

  • Have your kids draw pictures of the fun they’ll have in their new home.
  • Remind your kids that they’ll be able to stay in touch with their old friends, while making new ones.
  • Visit the areas where you’d like to find your next home. Walk around. Get a sense of what it’s going to be like to live there.
  • Consider taking a keepsake with you from your old home to help ease the transition.

Make Buying a Home Smooth Sailing

In the nautical world of pleasure boating, there is a specific process to follow to ensure a fun day on the water. Skip one of those steps and you risk having a miserable experience.

The same holds true when buying a new home. There is a process to follow to ensure everything goes smoothly. Here are the basics.

Find a good real estate professional. Preferably someone who knows the area.

Determine what you can afford. Get a pre-approved mortgage.

Make a wish list. What kind of home are you looking for? View the right properties. Pick those that closely match the criteria on your wish list.

Make an offer. Your real estate professional can help you make an offer that gets you the home you want at the right price.

Get a home inspection. This is a must.

Get the paperwork done. Your real estate professional, lawyer and lender will typically handle all the transaction paperwork for you.

Prepare for the move. Find a good mover. Don’t forget to arrange for telephone, internet, change of address and other details.

Follow this process and your move should be smooth sailing.

Surprising Secrets of Successful Home Staging

“Staging” is about setting up and decorating each room of your home so that it looks as attractive as possible to potential buyers. Studies show that a property is more likely to sell quickly and for a better price if it is effectively staged.

Even if you haven’t heard of staging before, you probably already know the basics, such as eliminating clutter and making sure everything is clean and “guest ready.”

However, there are some home staging “secrets” by staging professionals that you may not know. Here are a few examples:

Increase horizontal surface space. Make sure desks, countertops, coffee tables, end tables, etc. are as free of items as possible. Give the impression that there’s lots of room available on horizontal surfaces.

Flowers. Fresh flowers or flowering plants placed in a couple of rooms, such as the kitchen and living room, can have a dramatic impact on how inviting that room looks. Just don’t overdo it.

Don’t be daring when you paint. You may love the idea of a bright yellow and green combination in the family room, but not everyone will share your daring sense of style. If you paint, stick to neutral shades.

Less is more. Be brutally honest about the amount of furniture you have in each room – including wall hangings. Is there a desk, side table or other piece you can put away in storage? Think about ways to make each room more spacious. Space is king!

Ultimately, the best staging advice is to use your common sense. Put yourself in the shoes of a potential buyer as you walk through your home. Ask yourself, “What changes will make this room even more attractive?”

Does the Property Meet the “Lifestyle Test”

Lifestyle is a very important criterion when shopping for a new home. After all, a home and its surrounding area are the places where much of your lifestyle is going to be experienced.

So when considering a new home, think about the lifestyle to which the property is going to lend itself. Ask yourself:

  • How much entertaining do we do?
  • How important is it to have good schools located nearby?
  • How long will the commute to work be?
  • How big of a backyard do we require?
  • Do we need a rec room?
  • How easy will it be to get to golfing, dance lessons, baseball practices, movies and other activities my family and I enjoy?
  • How important is it to be in a quiet area?
  • Do we want a local park nearby for jogging, playing with the kids, and walking the dog?

This list is just an example. Ideally, you’ll create your own list of questions to ask yourself when considering a particular home.

Is a Low Offer a Good Idea?

You’ve spent a couple of weekends viewing homes. You’ve found a few that you like, but none were quite “it”. Then, finally, you visit a property that seems perfect for you. It has most of the features you’re looking for in a new home. You quickly fall in love with it.

But it’s not yours yet. You have to make an offer. The amount you offer will play a huge role in whether or not you get the home, and the price you’ll pay.

At this point, you might be tempted to put in a really low offer in the hopes that you’ll get a bargain.

But that’s usually not a good idea.

First, the seller (working with his or her REALTOR®) probably knows the current market value of the property. So your low-ball offer will not make a good impression.

Secondly, there might be another offer that comes in at the same time — one that’s closer to the listing price — and you might risk losing your chance to buy the property. So be cautious with the low-ball game. Chances are, you’ll lose. A good REALTOR® can help you make the right offer for the property you’re interested in purchasing.

Your Really, Really Great List

When buyers shop for a new home, they typically start by viewing properties that meet a specific criteria… four bedrooms, a finished basement, a quiet street, etc.

But often there is something special about a home that catches a buyer’s eye that can very well tip the scales toward your home.

Think about it. How many times have you heard someone who has just purchased a home say something like, “Wow, the recreational room is fantastic!” Or, “The golf course is just a mile up the road!” Or, “There’s a great school just four blocks away.”

So when you list your home for sale, think about the special features that might get a similar reaction from buyers.

For example, you might have a view out your living room window that’s really, really great. There might be a local playground that’s especially well-equipped and clean. Your home might be located near a local sporting facility which is really, really convenient for families who have kids involved in sports.

So when you create your list of features, highlight those that are really, really great and make sure potential buyers are aware of them. It might just be the one feature that prompts a buyer to make an offer.

Want to Sell Your House Faster? Make it Anonymous

What do you notice when you visit a model home in a new development? Often, you’ll find wonderfully furnished and decorated rooms that anyone could live in.

The operative word here is “anyone”.

Sure, there might be a computer screen on a desk in the den, or a child’s Raggedy Ann doll sitting in a corner, but for the most part, all the rooms are anonymous. There is a sense of family, but no specific family… the feeling of personality, but no specific person.

The professionals who set up a model home make it anonymous for a reason. They want buyers to view it as their potential home, not someone else’s. And these professionals know — based on decades of experience — that this strategy helps sell houses faster and for a better price.

Why not use this same strategy when showing your house or condo?

It’s easy. Just put away that soccer trophy, take down the wedding photo, and box those souvenirs from the family vacation at Disneyland. No, you don’t have to completely empty your closets and drawers. Just pack those personal items that can be seen when a potential buyer views a room. Put away toothbrushes, collectibles, even unopened mail. Don’t forget the fridge door, which is often a mosaic of personal items in most family homes.

If you have lots of personal items, consider renting a storage unit for the few weeks that your house or condo will be on the market. It’s worth the investment.

You wouldn’t think of buying a birthday cake with a stranger’s name on it. The same holds true when you show your house or condo. Make it anonymous!

Healthy Lighting For Your Home

Recently, researchers have discovered that lighting in the home has a much greater impact on health and well-being than originally thought. Better lighting can boost your energy, help you sleep better, and even enhance healing.

So it pays to make sure the lighting in your home is healthy.

Start by enhancing sources of natural light, such as windows and sunroofs. Study each room of your home and replace as much of the artificial light as possible with sunlight. For example, re-position a preferred reading chair next to a window.

Consider dimming the lighting in your home during the evenings. If your home is very bright when it’s dark outside, it can affect your body’s natural rhythms, resulting in disturbed sleep.

Avoid over-lighting, which is common in rooms where there are few windows. Over time, excessive light can cause headaches and even mood changes. Lighting that is sufficient to see everything clearly is all you need.

Prepare For Window Shoppers

Retailers know that if they dress up their window displays and other outside features to make them look as attractive and enticing as possible, they bring in more shoppers. Of course, having more shoppers means more potential sales.

The same holds true when selling your home.

The more appealing your property looks from the outside – from the sidewalk right up to your windows – the more likely buyers are to become interested in your home and want to schedule a viewing.

That doesn’t mean you have to spend a fortune on new landscaping and window dressings. In fact, there are many simple, low-cost things you can do to make your property look significantly more inviting to home shoppers.

  • Mow the lawn.
  • Trim the hedges.
  • Plant some flowers. Place potted plants near the entrance way.
  • Make sure the walkway is clear and swept clean.
  • Paint the front entrance door. (If needed.)
  • Clean the windows, inside and out.
  • Make sure window coverings, and all other items that can been seen from the street, look great.

Make your property look better from the outside, and more buyers will say, “Yes, I want to view that home!”