The decision to sell has been made…maybe you have an offer in hand, or you are thinking about putting a sign in your yard. In either case it is important to understand that selling your house can have many hidden costs. Keep in mind that these mistakes just FIVE and that this does not cover everything. Hopefully this list will help you save money along the way as you start the process to sell my Asheville house.
1. Don’t Guesstimate Your Loan Payoff
This is VERY IMPORTANT! Make sure to call your lender and have them send you a payoff letter. In this letter your lender will let you know how much is still owed on the loan, what the payoff balance is, and if there is a prepayment penalty. This is first on our list as it should be one of the first things you do as you get ready to sell your Asheville house.
2. Don’t Forget About OTHER Liens
Make sure to go through your records and confirm that nobody has filed any liens against your house. Mechanics, contractors, creditors, and car vendors can all have filed liens on your house. When a lien is filed against your house, it then requires the lien to be either paid or waived by the lien holder before the sale can occur.
3. Have Somewhere To Go
This may seem obvious…BUT make sure you have somewhere to go once you sell your house. If you are going to be applying for another mortgage make sure to get pre-qualified. If you are going to have enough cash from the sales, be sure to have somewhere to stay in between the sale of your property and the purchase of your new house.
4. Sale & Closing Costs
Every sale has hidden costs that will affect how much you walk away with. Besides paying off your mortgage and other liens, your will still have to pay attorney fees, recording fees, taxes, etc. To get a full picture of what your closing costs might be; Realtor.com has a great article that goes into more details.
5. Qualify Your Buyer
Although, it may seem like a simple thing to do…make sure that the person who is making an offer on your property has the ability to carry through on the terms of the offer. More than anything this can be used as a screening technique. It does not help anyone to waste time and energy working with a buyer who ultimately does not have the ability to close.
Best of luck!