First Time Home Seller: Tips For Selling Your Home / Determine Your Equity
So you've made the decision to sell your first home but how do you actually go about it? I'm going to tell you that today.
My name is Lynea Carver, I am with Choice Gallery Homes. I have had the pleasure of helping dozens of people sell their first home throughout Pierce County and I have created a simplified process to help you make sure that you are not missing a step.
If you watched my last video, you learned that the number one step to selling your first home is determining that it's the right time. Whether it be emotional or financial, you've got to determine the decision for moving. The second step in selling your first house is figuring out how much equity you have. If you are going to be buying a home at the same time, we've got to figure out how much equity you have in your current home that you will be able to use for a down payment on your new home.
In order to determine how much equity you have, we will need to do a comparative market analysis, or a CMA. A CMA is going to show us similar homes in size, age, amenities, and location so we understand about how much you can sell your house for. Then we'll subtract how much you owe on your mortgage and that's going to determine your equity. To get a free Comparative Market Analysis, contact me.
Remember, whether you're buying a home or selling a home, it all starts with a dream. Let's dream together!