Real Estate

Make a Plan for What Happens Next, Before Listing the Property for Sale

Planning ensures one is actually ready to sell

By Christin J Hunter, Broker, Windermere Real Estate

It’s no secret that the real estate marwill the next home be? Does that area have the ket has been the bright spot in the U.S. economy over the last year. Property values have increased an average of amenities, schools, medical services etc. that fit one’s specific needs and desires? Having the plan around where one is going when the sale closes will make for a smoother sales pro13% nationally since February. It should cess, as it helps to quell the stress of uncercome as no surprise that property own- tainty in an already stressful situation. ers are taking advantage of tremendous What: The “what” plays a crucial role increases in values and cashing on the in the sale of a property and post-closing equity gains. I’ve had several people talk activities. One must identify what the goal to me about selling and cashing in, and what I tell all of them is to make a plan. It starts with one of the most important questions: “Is selling what I really want to do?” Selling a property is not generally known to be a relaxing experience. It involves preparation and planning. In addition to engaging a real estate professional to list and market the home for sale, making the necessary repairs and preparing the property for showings, one needs to be clear about what happens when the property does sell. When, where, what and why are the questions that should be addressed priof the sale is, what the plan for the proceeds is, what are the lines in the sand as a seller—considerations like, what’s the sales price threshold and what as a seller won’t be agreed to. What repairs and concessions may be required for a successful close and one’s threshold for such requests? Essentially, making a plan ahead of time means one is better prepared in knowing where the line in the sand is to be drawn. It’s key in selling a property to be clear on the goal. Is it to cash in on the proceeds? Upsize or downsize? Or perhaps it’s to move to other cities or states completeor to listing the property. ly. When a seller is clear about the goal for

When: The “when” addresses timing. If the sale of the property, it helps one keep it’s a primary residence being sold, one must an eye on the proverbial prize when moving consider when it is that they ideally want to through some of the more stressful parts of move. If moving around and being out and the sales process. Finally, what’s the plan about during the winter months is not one’s with the proceeds? Are they to fund anothforte, then it makes sense not to list the prop- er property purchase, to bank the money or erty for sale in the late fall/winter. Address- pay down debt? Being clear about the ultiing the “when” prior to actively marketing mate goal for the equity proceeds helps one the property for sale will make the necessary stay focused on the reason for the sale. post-closing activities easier to digest. Why: The final and crucial question, the

Where: The “where” addresses a couple “why” supports the when, where and what. of things. In the case of an owner-occupied It is the bottom-line goal. The “why” realsale, where is the seller going to move? If the ly answers the question of “does one really intent is to cash in and rent a home, it’s best to want to sell?” The “why” is the reason drivbe clear about the state of the rental market. ing the plan to reach the goal, which is to In Central Oregon (not unlike the real estate close a sale. When a seller is clear on their market), it’s incredibly competitive, and one “why,” the plan comes together with greater would be wise to begin the rental search as the ease and also helps the industry professionproperty is listed for sale. If planning to pur- als hired to market and sell the property chase another home with the proceeds, where accomplish the goal.

HOME PRICE ROUNDUP Photos and listing info from Central Oregon Multiple Listing Service

<< LOW 63221 Logan Avenue, Bend, OR 97701 3 beds, 3 bath, 1,620 sqft, .14 acre loft Built in 2013. $475,000 Listed By: RE/MAX Key Properties

MID >> 2728 NW Nordic Avenue, Bend, OR 97703 4 Bed, 3 Bath, 2436 sqft, .18 acres, Built in 2007 $975,000 Listed By: Duke Warner Realty

HIGH >> 23229 Butterfield Trail, Bend, OR 97702 4 Bed, 5 Bath, 4,091 sqft, 4.18 acres Built in 2004 $1,695,000 Listed By: Cascade Sotheby’s Int’l Realty

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