Buying and selling a home at the same time is no small feat. Double the real estate transactions creates twice as many responsibilities when it comes to searching for a good neighborhood and preparing a home to list. However, with the right help, buyers and sellers can complete both transactions with ease. Follow this guide to make your move a streamlined success.
Search for a local agent
The first step that both buyers and sellers should take when they’re sure about moving is to search for an experienced local agent like those at Doyle | Goodrowe Curated Living. Buyers will benefit from an experienced agent’s insider access to listings in the area, which can help them find a home they love sooner. Agents also have connections to various other professional services a buyer might need, like an attorney, mortgage lender, home appraiser, and home inspector. Overall, an agent provides guidance and advice backed by years of experience in the community, and they will help you find a perfect new home.
In addition, agents are also highly valuable for sellers listing their homes for sale. They’ll use their access to the local MLS to help sellers competitively price their listing, time a home sale correctly, and effectively stage the property to generate interest from buyers. Sellers’ agents also negotiate with buyers on their clients’ behalf and can explain official documents that need to be signed when closing on an offer.
Decide whether to buy or sell first
When buyers and sellers have found a professional that they can trust, they need to decide to buy or sell first. Each route comes with its own perks and downsides. Review the information below when deciding on the best first step in your specific situation.
Buying before selling
The major perk of buying before selling is that it makes a move much easier. Rather than scrambling over where to put belongings once a home is sold, buyers can take their time moving into their new home. This also makes the selling processes, like staging and showing a home, much easier. However, buying before a home sale requires buyers to manage two mortgage payments at once. This may become tenuous if a home sale takes longer than expected.
Selling before buying
People who sell before they buy avoid the major financial strain of managing two properties and mortgages at once. Having the proceeds of a home sale also makes it easier to budget a home purchase and qualify for a loan. However, if a seller doesn’t have a temporary living situation prepared, they may be stuck with nowhere to go after the sale. Selling before buying also adds to the total moving time, as a seller essentially has to move twice.
Tips for buyers
Buyers who are interested in LaVista Park real estate should always get pre-approved for a mortgage before starting their search. Research the surrounding area for amenities, then set aside funds for closing costs related to a purchase.
Before starting a search, buyers should shop for the best mortgage rate and get pre-approved from a professional lender. Pre-approval has many benefits for buyers. For one, knowing how much financial backing they’ll receive helps to narrow down a home search. Sellers also will take a buyer’s offer more seriously when there’s proof of funds, like a preapproval letter.
Research the area
Next, buyers should research the area for essential services, amenities, and neighborhoods. LaVista Park is an established community with spacious homes nearby highly-ranked schools in the Dekalb County School District. Residents love it for its central location near Midtown, Buckhead, and Morningside.
Prepare for closing costs
The closing process includes steps like mortgage finalization, a home appraisal, a home inspection, and a final walkthrough. Closing costs for buyers in Georgia average 2-5% of a home’s final sale price. These include expenses related to loan application, attorney fees, title fees, and transfer taxes.
Tips for sellers
Sellers listing their LaVista Park homes for sale should prepare the property to appeal to the most buyers. An agent will help their clients market the property successfully, while sellers should account for closing costs when totaling the profits of a sale.
Clean and stage
Before listing the property on the local MLS, sellers need to deep clean each room by mopping all floors, vacuuming the carpet, wiping down the windows, and dusting off all shelves. Then, declutter each area by donating or throwing away unwanted items. An agent can offer guidance on how to stage the property in a way that appeals to the local buyer pool. Generally, sellers should take down family photos, decorate in neutral colors, and let in plenty of natural light.
Market your home
An agent is invaluable when it’s time to market a property. They’ll boost its online visibility by creating a listing with professional photos and a thorough description, then post it on professional and public platforms. An agent will also market the listing effectively using social media, their own website, and by scheduling in-person home showings on a seller’s behalf.
Prepare for closing costs
Like buyers, sellers need to prepare for closing costs when finalizing a home sale. This covers expenses related to title service fees, transfer tax, recording fees, and any buyer incentives. Sellers should also prepare for property taxes for the months they lived in their homes.
Ready to buy and sell property in LaVista Park?
Buying and selling at the same time doesn’t have to be a challenging process when partnering with a local professional. Experienced agents can keep their clients on track and make sure that your journey is smooth without a hitch. If you’re ready to buy or sell a home in LaVista Park
real estate, contact one of the experienced local agents at Doyle | Goodrowe Curated Living
to guide you through the process without all the stress.*Header photo courtesy of the Doyle | Goodrowe Curated Living team