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Homebuyers and sellers: How to prepare for the busy spring market

 As the snow melts and the days grow longer, we eagerly anticipate the arrival of spring. It's a season of renewal, not just for nature but also for the real estate market. Both homebuyers and sellers are coming out of hibernation, preparing to make their next big move.

If you plan to buy or sell this spring, here are some tips to ensure a smooth and successful process:

For Homebuyers:

  1. Secure a Mortgage Pre-Approval: Starting with a mortgage pre-approval is crucial. It gives you a clear budget and positions you as a serious contender in the eyes of sellers. Gather your financial documents early to understand your borrowing capacity.

  2. Understand the Market: Familiarize yourself with local real estate market trends, including prices, inventory levels, and average time on the market. This knowledge can inform your search and negotiation strategy.

  3. Consider Future Needs: Think long-term about your housing needs, including family planning and lifestyle. Investing in a home that meets future needs can prevent costly moves down the line.

For Home Sellers:

  1. Get a Mortgage Pre-Approval: Sellers should also secure a mortgage pre-approval to understand their purchasing power for the next property.

  2. Investigate Mortgage Porting: Understand if your existing mortgage is portable, as porting it may offer financial benefits. I can help you understand your current mortgage's portability features and any applicable fees.

  3. Find a Reliable Realtor Partner: Choose a real estate agent with a strong track record, negotiation skills, and a comprehensive marketing plan. A good agent can significantly impact the selling price and speed of the sale.

  4. Prepare the Home for Sale: Address repairs, declutter, and possibly stage the property. Professional photography can showcase the property online, where most buyers start their search.

By following these steps, you'll be prepared to navigate the spring real estate market confidently. If you're planning to buy or sell this spring, reach out. I can provide additional tips to help you as either a buyer or a seller.

Call me today!  

Brian Patey
Mortgage Broker
(709) 632-9800