It all started when I got an email last year that they were thinking about moving up to another home in the future and wondered how to go about it because they needed to use the proceeds from selling their current home to buy their next one.
Next steps were…
Estimating how much they would net if they sold their house
They bought more than 8 years ago, so the estimate showed they should make a nice profit… hopefully enough to allow them to buy a house they would like for their next home.
Checking with a lender to see how much home they could afford with their proceeds
Prices had gone up so they should make money on the sale of their current home, but prices had also gone up on homes to purchase… and there was a shortage of homes for sale. Knowing how much they could afford to buy was critical.
Looking at what was available in their realistic price range
Their current home was in St. Louis Park… we looked at homes available in their price range in the western suburbs. Sadly, not much out there that fit their criteria in pre-existing homes. They looked at new construction further out and had better luck. Of course there are hidden costs in buying a brand new home, such as window coverings, appliances, landscaping… but by going out further they were able to find some possibilities in several different locations with different builders.
Figuring out what to do to get their home ready to sell
We discussed things they should do to get their home ready to sell. They had already done a terrific kitchen remodel and got a new roof… and also got a new garage door and updated their landscaping. When they decided they were done waiting and were for sure moving forward they installed new carpet in the lower level and replaced their old water heater and air conditioner.
Meeting with a stager
They decided to stage their home using their own furnishings and met with a stager to create a game plan of what they should do to make it show its best. This consultation is included in my services so they didn’t have any additional money out of pocket for that.
They worked intensely to get everything showing ready, and we scheduled their photo shoot, including floorplans. Their hard work paid off… it looked fabulous!
They had a dog and two young kids so decided they would move in with parents while their home was listed for sale so they wouldn’t have to worry about keeping their house showing ready and clearing out when showings were scheduled.
They would periodically make a getaway from working on their house to look at new construction for their next house. They discovered that not all builders would accept an offer contingent upon the sale of their current house, but learned that DR Horton would… and had a house they loved in the process of being built. They signed an agreement for the purchase of their new house at the same time their ‘old’ house was listed for sale!
Their ‘old’ house got an offer the first day on the market and sold with multiple offers… no more sleepless nights worrying if anyone would like their house!
They hung the sold sign and closed on both homes the same day a few weeks later… mission accomplished!
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
