Ray Peckham Real Estate

Surfside Real Estate Sales

5 Steps To Sell Your Surfside Home

Selling your Surfside home is a process that involves five basic steps. These steps are Preparing the Home for Sale, Finding a Buyer, Qualifying the Buyer, Negotiating the Terms, Handling all the Details needed to finalize the sale. If you list your home your real estate agent takes responsibility for each step. If you sell on your own, it is your responsibility to complete each step.

Surfside: Art and Science

Buying a piece of Surfside real estate is a science but buying your Surfside home is an art. The science part involves getting the legal and financial parts down while the art is finding the Surfside property that you’ll be happy with.

The total universe of possibilities within the universe of Surfside real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.

In general there are two phases to any Surfside real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Surfside real estate that meets all or most of your specifications.

Before You Buy Your Surfside Home

Whether you are a first time buyer or someone who is moving up to a more expensive home it’s a good idea to start by cleaning up your credit report. Let’s say you apply for a loan to purchase an Surfside condo, town home, single-family home or any type of Surfside. The lender will check out your monthly income and outgo to determine if you can afford to repay the loan. Therefore, it is to your advantage to pay off as many high-interest consumer loans as possible. If you are planning on buying a car, a boat or other major purchase, put it off until after you have bought your selected Surfside real estate. Lenders look for certain patterns they consider red flags. These are: late payments, overextension, liens, garnishments and, of course, bankruptcy. Remember, debts reduce the amount of cash you can spend on the Surfside you want to buy, so clear the decks as much as possible before applying for a loan

The Benefits of Selling Surfside

In order to sell Surfside as your personal residence, you must have lived in it for two out of the five-year period ending on the date of the sale of the property. This means that you can buy a second home and live in it as your personal residence while renting out your first home. If, in a couple years you decide to sell your first Surfside personal residence you can sell it and still benefit from the $250,000 to $500,000 Capital Gain tax exclusion. The law says that the home must be your personal residence for at least two out of the past five years.

What Makes Surfside Sell?

Books have been written about this topic but to be concise, successful sale depends on six factors: Price; Terms; Location; The Home’s Condition; The Home’s Accessibility and the Marketing exposure the Surfside receives.

Price is what a willing seller and a willing buyer agree on. Price is determined by the current market, which fluctuates causing home values and prices to fluctuate. Often Surfside that does not sell is over-priced for the current market. Terms can vary as well. Some owners want payment in full, some are willing to carry a second.

Location is a major consideration in pricing and desirability for Surfside. Has the neighborhood gone to pot or does it look like a street at Disneyland? Are there open spaces nearby or is the home located in the middle of commercial district?

When Surfside Does Not Sell

The number one, main reason why a home remains on the market is PRICE. There can be other problems as well such as the home’s condition or location and even overall market conditions but the major reason for the NO SALE sign is the Surfside is over priced. In fact, proper pricing will often overcome most all obstacles.

Some people prefer to buy Surfside that needs some work if the price is right. Investors look at the property, evaluate the cost of brining it up to speed and make an offer if they feel they can make a quick profit. These kinds of investors are looking to fix and flip. Others with limited budgets may see the fixer-upper as a way to get started with Surfside ownership. They may spend years working on improving the home, making improvements as they can afford it. So, a home’s poor condition will not prevent a sale if the price reflects the situation.