| 1. What is my Reason For Selling? Current home too small Current home too large Transferring out of the area Can afford more Divorce Investment Property Want to change neighborhoods Want a better school system Other |
| 2. What Is My Current Monthly Payment? |
| 3. What Is The Maximum Payment I Can Afford, Or Wish To Afford? |
| 4. What is my outstanding mortgage balance? |
| 5. Do I Have a Home Equity Loan? If yes, what is the outstanding balance? |
| Assuming you need to sell your current house in order to buy your next home, you need to make an estimate of what price your current home will sell for in today's market. If you are a savvy internet user, you may be able to use the web to research current home values in your neighborhood, but the best way to determine the value of your property is to hire a professional appraiser. You may also contact a local Realtor. Most Realtors will provide you free of charge with a Broker's Price Opinion (BPO) or Comparative Market Analysis (CMA). I offer a FREE On-Line CMA here |
| The above represents just the beginning of a financial plan, a way of ordering your thoughts and putting real numbers to the test. If you would like help analyzing these numbers, please CONTACT ME. |
| Extra Credit: Read my article on selling a Vacant Home |
| 6. Do I need to purchase a new home, and if "yes", do I need to sell this house FIRST to afford the down payment and new mortgage? |
| 7. Do I need to sell my house in a certain time frame; how important is the timing of the sale? Key Factors to consider: Do you have children that may have to change schools in the middle of a semester? Do you have career decisions or obligations? Is your household expanding due to marriage, pregnancy, or adoption? |
| START WITH A PLAN Deciding to sell your home is a major life decision. Every step you take is critical if you wish to get the highest possible return. That's why you need a plan. No two individuals are alike and no two home selling situations are either. To start creating you own Plan, ask yourself the following questions: |
| Terry Woods is a Licensed Realtor with Prudential Douglas Elliman Contact him at 516/650-1131 or email: Terry @ TerryWoods.com |