When is the Right Time to Sell Your Home?
When is the Right Time to Sell Your Home?
It’s a scary thing to decide whether it is the right time to sell your home. However, there are certain times where you really need to sell your home. Consider your personal situations and work with a professional realtor to ensure that this process goes smoothly. This article will help you work through different reasons why you should, or should not list your home for sale and begin the escrow process.
Obviously, your first decision should be whether or not it is a critical thing for you to sell your home. Sometimes, you can just delay a little while for your personal circumstances to change or for the market to improve. Other times, it is very important to sell quickly as you need to relocate or you may have changed jobs or any other reason.
A lot of homeowners decide to sell their homes when their employment situation changes. It could be a job promotion that requires them to move to another city. It could also be a huge salary bump that prompts them to upgrade to a new, better home. A need to sell your home can also be triggered by an unexpected job loss that results in a huge drop in your annual income. When you have no wages to pay the mortgage, then selling your home is the only choice that remains. Nobody wants to be forced into foreclosure. This experience is quite unpleasant and can have an impact on your entire family.
In good times, most homeowners are motivated to extend themselves financially. They rely on the good times to continue and borrow heavily against their family home. Unfortunately, economies and circumstances can change. Some homeowners experience unexpected huge bills that they can’t simply afford to pay. These could be increased debt repayments, medical bills, or rising loan interest rates.
A lot of individuals sell their homes to avoid foreclosure or bankruptcy. It’s always better to stay in control, therefore sometimes you have to make the tough decisions before somebody else gets involved and makes your decisions for you. In such situations, it is usually recommended to get proper legal and financial advice to avoid making the wrong decisions.
Another reason that can trigger a need for a home sale is a family bereavement. The home may have too many memories or may be too big for the homeowner to stay any longer. Moving to a new home could be the best decision. The new home might be in a more convenient location, more appropriate size, closer to family, transportation and shopping. The new home would offer the opportunity to ‘move on’ with life and start fresh.
In conclusion, we all experience different situations and are in different financial and family positions. Therefore, it is important to think carefully about your decision to sell your home. Is now the right time? Is it the right decision? What would happen if the decision was brought forward or delayed? There are many questions that require answers before you list your home for sale.
Inland Empire Escrow provides escrow services for a diverse variety of real estate transactions. With offices in Chino CA and San Bernardino CA, we quickly and professionally service all the surrounding cities such as Chino Hills, Ontario, Rancho Cucamonga, Upland, Riverside, Redlands, Colton, Grand Terrace, Yucaipa, and more. To hear more about our escrow services for residential, mobile home, short sale, REO, bulk / business sale, 1031 Exchange, or agricultural escrow, contact us today at (800) 917-9387.
