So you find yourself in the market for a new home but you need to sell your current home first – how will that work?

If you have a home to sell before you can purchase your new home, here are the steps you’ll need to follow.

First things first –

Meet With Your Realtor

 

 

• Contact your Realtor and request a Competitive Market Analysis (CMA). This will help you determine how much money you will have to pay for your existing mortgage (or mortgages) as well as your closing costs. This process determines your “net” proceeds from your sale.

Call your Mortgage Professional

• Contact your Loan Professional to be pre-qualified for your new mortgage. This process will determine the amount of money you will use from your “net” proceeds.

• If you need to sell your current home to qualify for your next home – it’s time to call your Realtor and tell them to put that sign in your yard!

 

• Now is a good time to consider looking at homes that could meet your needs and price range once your home sells. A lot of people do not want to put their home on the market until they know there is somewhere for them to go.

Stage Your Current Home to Sell

• Don’t forget to heed the advice of your Realtor in regards to staging and presenting your home for sale.

Check out www.judyhicks.com for more information on what to do to sell your home. Look for future blogpost on what to do when your home sells and you are ready to buy.