Read This Before Selling Your Home!
We’ve all heard that one recently. With home prices at an all-time high right now, are you contemplating putting yours on the market? Maybe you’re feeling a bit overwhelmed with the process? If you’re feeling some stress, we’ve got a few helpful tips from two of Orange County’s best real estate experts. Blake Nelle and Cedric Channels, Newport Beach locals and co-founders of Channels Group Real Estate, share insight on what it’s like to sell your home in the current market. With over 400 properties sold, you can rest assured this team knows what they’re talking about! Tips for Selling Your Home
1 | It’s okay if you don’t find your replacement home right away.
Finding the next place to call home is a huge decision and may take some time. A good realtor should be able to negotiate a free leaseback that allows you to live in your home for up to 6 months even after the sale closes. With Channels Group Real Estate, you may even get more time! This will allow you to carefully find your perfect new home without feeling rushed.
2 | Today’s market is the right time to get your goal price.
“It’s a crazy market right now!” Tips for Selling Your Home
With inventory and interest rates at historic lows, home prices have skyrocketed. If your realtor lists your home about 12-16% lower than your goal price, your home will more than likely sell in less than two weeks for an even higher price than you originally had in mind. If your house is especially appealing to buyers, they’re more likely to outbid any other buyers. This is a great advantage for you as the seller!EXP 11/11
3 | Finding an experienced lender is critical.
We know financing your next house is also top of mind during this process. If you work with the right lender, you may be surprised to find out your offer is not contingent upon the sale of the home you currently own. If you have good credit and low debt, you may qualify for a second mortgage without having to first sell your current home. This makes your offer on a replacement home much more competitive. Local mortgage lender, Preferred Rate Newport Beach, is happy to help with this process.
4 | Schedule block showings.
Multiple open houses and endless showings can be a real headache. CGRE recommends avoiding this by hosting block showings. Rather than allowing your home to be shown whenever by whoever, the home is shown no more than three times in the first week on the market. A two-hour block on a weekday evening followed by a three-hour block on Saturday and Sunday. You can choose to have scheduled private showings during these blocks or make them open to the public.
5 | You can stay in your home if you don’t find a replacement home.
The grass isn’t always greener. After scouring the market, you may find that your current home is better than you thought. Your realtor can always make the sale of your home contingent on you being able to secure a replacement home. This means your current home sale won’t close until you have an accepted offer and completed your due diligence on the replacement home. If that never happens—or you change your mind—you can stay in your home and not sell.
Tips for Selling Your Home
This market is not for the faint of heart, but with the right team behind you, you’ll have the confidence to navigate the sale and purchase of a home in Orange County with ease and peace of mind.