Whether you are thinking of up-sizing or down-sizing, have you thought about how you are going to pay for your next home? For most of us, financing is necessary, but will you qualify for that next home? BEFORE you decide to list your home, please, please get pre-qualified for your next one!
Home was listed for sale at the beginning of September, Buyer made an offer on December 2, a little back and forth and they were under contract on December 5 with a close date of February 1. As part of the Buyer due diligence, they had a home inspection by Iron Gate Inspection Services, Buyer’s Agent provided Inspection Response to the Seller‘s Agent and Seller quickly agreed to fix everything on inspection response.
Fast forward to January 18, 2 weeks before closing, Buyer receives a letter from an Attorney retained by Seller, that Seller is unable to secure a mortgage and Seller no longer wishes to sell their home and asked that Buyer give them “good title” and walk away.
Buyer retained an Attorney and by January 22, Seller was told they must close on the sale of their home on February 1 as agreed to in the contract.
What would you have done? In this case, the Buyer was my client and we won and she will be moving into her new home this weekend, BUT, I also represent Sellers and this has changed MY listing presentation and I will be asking my Sellers to pre-qualify PRIOR to their home going on the market. My goal is to Turn your Dreams into an Address…but I can’t do that without your due diligence, know your status before making a decision to sell, you don’t want to go from owning to renting. The Shanley Team at Inlanta Mortgage is ready and willing to work through this with you and I’ve made it easy for you with a link on my home page (as well as in the right hand column of this blog post) directly to their application. Also check out my post “Power of the Pre-Qual“…it’s not just for Buyer’s anymore!
Not sure of the current value of your home? Visit my website and request a Current Market Analysis of your home’s value and let’s talk!