Welcome to our Free Denver Information on Buyers Mistakes to Avoid Mistakes to Avoid When Trading Up to a
Larger Home Unlike the experience of buying a first home, when you’re looking to move-
up, and already own a home, there are certain factors that can complicate
the situation. It’s very important for you to consider these issues before you
list your home for sale.
Not only is there the issue of financing to consider, but you also have to sell
your present home at exactly the right time in order to avoid either the
financial burden of owning two homes or, just as bad, the dilemma of
having no place to live during the gap between closings.
Six Strategies
In this report, we outline the six most common mistakes homeowners make when
moving to a larger home. Knowledge of these six mistakes, and the strategies to
overcome them, will help you make informed choices before you put your existing
home on the market.
1. Rose-colored glasses
Most of us dream of improving our lifestyle and moving to a larger home. The
problem is that there's sometimes a discrepancy between our hearts and our bank
accounts. You drive by a home that you fall in love with only to find that it's already
sold or that it’s more than what you are willing to pay. Most homeowners get caught
in this hit or miss strategy of house hunting when there's a much easier way of going
about the process. For example, find out if your agent offers a Buyer Profile System
or House-hunting Service, which takes the guesswork away and helps to put you in
the home of your dreams. This type of program will cross-match your criteria with
ALL available homes on the market and supply you with printed information on an
ongoing basis. A program like this helps homeowners take off their rose-colored
glasses and, affordably, move into the home of their dreams.
2. Failing to make necessary improvements
If you want to get the best price for the home you're selling, there will certainly be
things you can do to enhance it in a prospective buyer's eyes. These fix-ups don't
necessarily have to be expensive. But even if you do have to make a minor
investment, it will often come back to you tenfold in the price you are able to get
when you sell. It's very important that these improvements be made before you put
your home on the market. If cash is tight, investigate an equity loan that you can
repay on closing.
3. Not selling first
You should plan to sell before you buy. This way you will not find yourself at a
disadvantage at the negotiating table, feeling pressured to accept an offer that is
below-market value because you have to meet a purchase deadline. If you've
already sold your home, you can buy your next one with no strings attached. If you
do get a tempting offer on your home but haven't made significant headway on
finding your next home, you might want to put in a contingency clause in the sale
contract which gives you a reasonable time to find a home to buy. If the market is
slow and you find your home is not selling as quickly as you anticipated, another
option could be renting your home and putting it up on the market later - particularly
if you are selling a smaller, starter home. You'll have to investigate the tax rules if
you choose this latter option. Better still, find a way to eliminate this situation
altogether by getting your agent to guarantee the sale of your present home (see
point number 5 below).
4. Failing to get a pre-approved mortgage
Pre-approval is a very simple process that many homeowners fail to take advantage
of. While it doesn't cost or obligate you to anything, pre-approval gives you a
significant advantage when you put an offer on the home you want to purchase
because you know exactly how much house you can afford, and you already have
the green light from your lending institution. With a pre-approved mortgage, your
offer will be viewed far more favorably by a seller - sometimes even if it's a little
lower than another offer that's contingent on financing. Don't fail to take this
important step.
5. Getting caught in the Real Estate Catch 22
Your biggest dilemma when buying and selling is deciding which to do first. Point
number 3 above advises you to sell first. However there are ways to eliminate this
dilemma altogether. Some agents offer a Guaranteed Sale Trade-Up Program that
actually takes the problem away from you entirely by guaranteeing the sale of your
present home before you take possession of your next one. If you find a home you
wish to purchase and have not sold your current home yet, they will buy your home
from you themselves so you can make your move free of stress and worry.
6. Failing to coordinate closings
With two major transactions to coordinate together with all the people involved such
as mortgage experts, appraisers, lawyers, loan officers, title company
representatives, home inspectors or pest inspectors the chances of mix-ups and
miscommunication go up dramatically. To avoid a logistical nightmare ensure you
work closely with your agent.
Seller's Toolkit - Avoid Buyer Mistakes and Denver Homes
Welcome to our Denver Division Seller's Toolkit. We specialize in Avoid Buyer Mistakes and Denver Homes.
Our tools allow you to review any real estate for sale in Colorado that is listed in the MLS/IDX. Please review or download our Seller's Toolkit. We have over
70 Free Reports available for review or to download.
Neighborhood Information for Avoid Buyer Mistakes and Denver Homes
Denver's vibrant metropolitan area full of cultural wonder and entertainment, as well as great
outdoor activities and recreation. Denver also has 300 plus days of sunshine we get each year, it's
no surprise at all, Avoid Buyer Mistakes is something that everybody wants to own.
Listings - Avoid Buyer Mistakes Real Estate
Well-Known across the world as the "Mile High City," Denver has been consistently rated as one of the
top places to live and work in the country. Originally built around the convergence of the Platte River
and the Cherry Creek River, Denver's outstanding lifestyle and great climate mixed with a wide array of
growing employment opportunities, have begun to characterize our city in the sky. Nothing beats our
spectacular Rocky Mountain views combined with the typical 150-mile visibility days. Home Owners in the
Avoid Buyer Mistakes market feel fortunate to live in the beautiful "Mile High City".
Boasting more public parks than any other city its size in the nation, easy travel times to many great
attractions and an endless list of activities available, Denver has been attracting outdoor enthusiasts as
well as large corporations for decades. Six popular professional sports teams make the "Mile High City" home as
well as an award-winning Performing Arts Center complete with a theater and a symphony orchestra. Outdoor
recreational opportunities include world-renown skiing, mountain biking, hiking, fly-fishing, kayaking and
white water rafting, to name just a few. Denver also offers a diverse live music scene with multiple
entertainment venues from the Historic Red Rocks Amphitheater to the classic Fillmore Auditorium on Colfax Street.
The diversity of real estate options and locations in Metro Denver makes finding the right place to call home
easy as well. From the center of the city throughout each of the suburbs, Denver housing features include single
family and luxury homes to upscale lofts and condominiums.
Please allow me to assist you in your future real estate matters. I have up-to-date information available
on all of the Metro Avoid Buyer Mistakes areas including Highlands Ranch, Cherry Creek, Lone Tree, Ridge Gate,
Centennial, Castle Rock, Castle Pines as well as the classic, more established areas of Denver including Cherry
Hills Village, Greenwood Village, Englewood, Littleton, Ken Caryl, Aurora, Parker ...and all other areas. Be sure
to check out the Interactive Subdivision Map too.
Corporate Office, Denver Colorado - 303 S. Broadway, Suite 200-278, Denver, CO 80209 sales@denverhomeliving.com (303) 816-9199 - Fax:(303) 845-9938, USA
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