There are a few strategies that a home seller in Seattle should apply before listing their house. The first strategy being, figuring out your end-game. What exactly is an end-game? Patrik Warneke of Emerald City Real Estate defines an end-game as clear visualization of where you plan to be after selling your house.
If this is your first time with Seattle real estate, you might be wondering what the concrete steps are to take in approaching your end-game. Whether you are selling your home for a job transfer, or you are selling to buy, we hope this guide will help paint a clear picture of your end-game.
Let’s get right into it:
1.) A Job Transfer
If your company has decided to move you, you’re likely going to have to move to a new residence as well. If you are moved more than 50-miles from the current work location, be sure that your company is offering a relocation package.
A relocation package usually covers some of the expenses for anything that is moving or work-related. In addition, assistance with moving should also come with the package.
There are a lot of stresses that come with moving, so for this reason, relocation packages are great because they can save you from any burdens that come with moving.
With a job transfer, you aren’t given too much time to sell your home; there will be a time frame for when you should be at your new location. This is fine because you are able to leave your home vacant until it is sold.
In the meantime, you’re going to want to list your house as soon as possible, and start packing. If your company isn’t arranging a team for you, you’ll need to also work on finding the right candidates for your team.
2.) Upgrading or Downsizing
Perhaps you’ve outgrown your home and you believe it is time to upgrade. Or perhaps you’ve noticed a lot of unused space in your home, so you’re looking to downsize.
Seeking to upgrade or downsize is often a reason why many people decide to sell their home. If this is your goal, then it is ideal to start considering where you would like to live next, and then create a realistic timeframe for when the move will happen.
If you wish to sell your home quickly, the market is hottest around the spring and summer season, so planning to list your home around spring, the latest being early summer will be the best time.
3.) Selling In Order to Buy
Good timing is key. Selling a house to buy a house should be done on a timeline, otherwise, you might set yourself up for financial struggles.
Consulting with a real estate agent will help you create a realistic timeline and give you guidance for the necessary actions you’ll have to take towards achieving this goal. Another factor that you should consider is finding a lender.
A lender can find out your pay-off amount and offer you the best loan type. Be sure to choose a loan officer that has a lot of experience under their belt, and get a loan pre-approval letter so you’ll know how much of a mortgage you qualify for.
4.) Flipping Property
With the right repairs and updates, flipping a property is a great way to make a profit in real estate. However, you should approach this with a method in mind.
The last thing you want is to invest money into all the wrong home renovations and finding out that it didn’t even increase your home’s value. With that being said, get guidance from a local real estate expert.
5.) On a Probate?
Situations like a death in the family may occur and you’ll find yourself on probate to sell your family member’s home. If you are put into this type of situation, it can be very stressful and emotional.
When the situation is too stressful, many people may sell the house at a discount just to rid the house. In other situations, the family member(s) will decide to put in an effort to renovate the home and make some profit.
6.) Setting Realistic Goals and Expectations
When it comes to real estate and selling your home, you’re going to want to be realistic about your goals and expectations. Many people approach home selling with a lot of optimism, which is great, but you don’t want to miss any blind spots.
We recommend using the S.M.A.R.T. goal planning. Although this might be tedious to do, S.M.A.R.T. goal planning will help you with creating a realistic vision, an “end-game” for your home selling process.
S = Specific (I am going to replace my wooden floors to increase my home value)
M = Measurable (For 6 weeks, I will dedicate my weekends to replacing the floors)
A = Achievable (I aim to finish the floors in two months and have the house listed by then)
R = Realistic (It is February right now, which means spring is around the corner. If I list the house in two months, the chances of my house getting sold will happen quicker considering that I am in a hot neighborhood)
T = Timely (If all things go well, my house will be sold in the next 2-4 months)