Successfully Buy Or Sell a Home
Information for Mississippi Home Buyers & Sellers
Whether you are preparing to buy or sell a house, there are many things to consider that will help make the process easier so you can achieve the best possible outcome. Read through the tips provided by our agents below and reach out if you have questions!
Tips for Buyers
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1. Get Pre-Qualified
Before looking at homes, meet with a bank to determine how much house you can afford. It also helps the process to move much quicker! Imagine passing up your dream home because you didn’t receive your pre-qualification letter yet, while another buyer had theirs? It’s heartbreaking. Make sure you are qualified and know what you can afford before you start shopping.
2. Do the Research
Do you know how much you’re willing to pay in taxes?
Do you want your home in a specific school district?
Do you know how much an average home in your ideal neighborhood is going for?
This is where an experienced Realtor can help. Share with your Realtor what your dream home consists of and we can help you find a deal and point out if there are any red flags.
Do you want your home in a specific school district?
Do you know how much an average home in your ideal neighborhood is going for?
This is where an experienced Realtor can help. Share with your Realtor what your dream home consists of and we can help you find a deal and point out if there are any red flags.
3. Consider the Home’s Potential Value
Unlike a car that drops in value the instant it drives off the lot, a home has the potential to increase in value. House prices are affected by the housing market, job market, location, and more. Take this into account when shopping for a new home, especially a short-term home.
4. Determine Your Non-Negotiables
What are some of the things you need to have in a home? Is it a fenced-in backyard, a pool, a two-car garage? Make a list and keep these in mind as you’re shopping around.
5. Decide On a Mortgage
The type of loan you get is best determined based on how long you plan to be in the home. If it’s your first home or one you plan to be in for a short time, then an adjustable-rate mortgage may be best. If this is your forever home, then a fixed-rate mortgage could be the better move.
6. Consider the Contract
This is one contract you will want to read over to ensure you are protected in it. This means that you are allowed to arrange financing, an inspection, and negotiate if any problems are discovered during the sale process.
7. Pretend You’re the Seller
Think about why you would be selling the home if you were the seller and what you would have fixed or decided to let go when putting the house on the market. This will help you in the negotiation process.
8. Get an Inspection
Spending a few extra dollars on a pre-purchase inspection could save you thousands in the long run. Don’t waive it if you don’t have to.
9. Get a Home Warranty
A home warranty protects you and the sellers if something breaks down or malfunctions within one year after the sale is complete.
10. Don’t Forget About Renovations
If the house is missing something on your non-negotiables list, don’t write it off completely. You can get estimates to see how much it would be to add on the amenity and determine if it fits your budget or can wait until you can save up the money.
Want to Start Browsing?
Tips for Sellers
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1. Put On Your Buyer’s Goggles
Buyers will carefully scrutinize every inch of your home. Ensure your home is clean and neutral so that the buyers can see themselves living there and not gouged trim, crayon marks on the kids’ bedroom walls, stains on the carpet, etc.
2. De-Clutter
Throw out anything that you don’t need or move items to storage before listing your home. Clutter can make your home feel small and busy when buyers want it to feel open and airy.
3. Clean Everything
If you can, hire a professional house cleaner to clean the carpets, wash the windows, scour the bathrooms, clean the ceiling fans and appliances, etc.
4. Make Repairs
Paint where necessary, patch the roof, replace the screens, etc. You don’t want a buyer to be distracted by torn screens and miss the view of the backyard out the window.
5. Open Everything
Make sure the windows are open if it’s nice out and all of the lights are on for showings and open houses. The more open, airy, and bright, the better!
6. Remove the Pets
Buyers do not want to see or smell any pets when they come for a showing. You shouldn’t even have a food dish or toy in sight. Hide all signs that a pet lives in the home and take it to a family member’s, friend’s, park, etc during the showing.
7. Compare the Market
Have your real estate agent complete a comparative market analysis to determine what other houses like yours are selling for. This will help you decide what price to set your home at.
8. Consider if You’re Financially Able to Sell
A lot of people wonder if they should buy or sell a house first. It depends on your situation. We recommend putting your house on the market while you’re looking for a new home and if an offer comes in, negotiate a clause so that you have time to find a new home.
9. Check the Buyer's Qualifications
In this market, buyers may compete with each other. Consider if they’re pre-qualified and what you are willing to negotiate such as the deposit, price, financing, repairs, closing date, etc.
10. Adjust the Price if Needed
Buyers come in waves. If after the first wave you don’t have an offer, that may be a sign that you have overpriced your house. Drop the price and compare with other houses selling in your neighborhood to determine what price point yours should be at and if any repairs need to be done.
Start your home buying or selling journey today. Call us at 228.460.0400 (Moss Point) or 228.207.6496 (Biloxi).
Southern Oaks Realty LLC
Moss Point Location
Phone: 228.460.0400
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