Tips for Buying or Selling a Home
Buying or selling a home can be a complex and stressful process. Here are some tips to help make the process easier:
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Work with a reputable real estate agent: A good real estate agent can help you navigate the buying or selling process, provide valuable insights into the local market, and negotiate on your behalf. You need to feel comfortable with them and remember - they are working for you!
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IF you need finance to buy, get pre-approved for a mortgage: If you're buying a home, getting pre-approved for a mortgage can help you determine your budget and make the process smoother. Sellers also prefer buyers who are pre-approved as it shows that they are serious about purchasing a property. There is little point in starting to look for a home unless you have your finances sorted. Too many people end up heartbroken when they miss out on the property of their dreams because they couldn't get the loan.
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When selling, price your home correctly: If you're selling a home, it's important to price it correctly from the start. Overpricing can lead to the property sitting on the market for too long, while underpricing can leave money on the table. Work with your agent to determine a fair price based on the local market. In a softening market, as we have started 2023, it is counterproductive to price a property too high and then chase the market down.
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Be prepared to negotiate: Negotiating is a key part of the buying or selling process. Be prepared to make concessions and compromises to reach a deal that works for both parties.
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Be patient: The home buying or selling process can take time. Don't rush into a decision or get discouraged if things don't happen as quickly as you'd like. Work with your agent to stay informed and make informed decisions. We have come off the back of a strong market but things have changed and properties are staying on the market longer.
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Do your research: Whether you're buying or selling, it's important to do your research. Research the local market, comparable properties, and any zoning or neighbourhood regulations that may affect your decision.