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Kamis, 17 April 2014

Preparing Your Home For Sale

By Hedrick Lepsch


The days of refinancing your home for extra cash are slowly fading into the past. Since the recession, most homebuyers have felt that completely paying off their mortgage was is worthwhile as it provides them with peace of mind and outright ownership of their home.

The first and most important step to selling your home without a realtor is to do a lot of research. Read through the purchase and sale agreement from contract when you bought your home, review local listings online and in real estate publications and try reading blogs and books about selling by owner. Your research can help you understand the language and processes of the real estate business and most importantly can help you know what your home is worth, and therefore how much you might be able to list it for.

Most mortgages are set to last for 30 years. Did you know that you can refinance your home and end up with a mortgage that is only ten to fifteen years? This may be a good idea if you are interested in paying that mortgage off before you are retired with grandkids. Frequently, people choose the fifteen year mortgage because it still provides a substantial decrease in the time length while not increasing monthly payments too much. Remember that these shorter mortgages will have higher payments, but it will be worth it when you own your home outright and are that much closer to being debt free.

Make your home look a large and spacious as possible, so remove bookcases, leaves from tables and even chairs or couches that take up too much space. You will have to live in a minimalist house for a while, but it will certainly help your home sell faster. All homes show better when they are empty or close to it.

One hundred dollars more each month over dozens of months will significantly decrease the amount you owe. This is because more of the payment will go towards the principal and not towards the interest. If you cannot afford a one hundred dollar price hike, simply round up to the nearest ten or one hundred digit. Although small, these amounts will decrease the length of your mortgage.

Be prepared to be flexible and negotiate with potential buyers, and you should be able to pull off a sale without a realtor.

Regardless, you are going to have to pay more in a shorter period of time to get rid of the mortgage. These are just a few ideas on how you can throw more money at that mortgage monster. If paying off your debts is a priority to you, then utilize these tips to accomplish that goal. It may be a difficult sacrifice, but you will be glad you did it in the end. Get started now with a plan to get ahead!




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