Home Buying in Woodbridge>Question Details

angele.bitota, Home Buyer in Woodbridge, VA

My husband and I bought a house in 2010 and would like to sell and buy a bigger house. What is the best procedure?

Asked by angele.bitota, Woodbridge, VA Thu Nov 15, 2012

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Angele, your biggest challenge will be that you bough it recently and will have selling costs associated with your sale. So, structuring your sale and new purchase correctly may be your biggest challenge. If the finances don't work, you wont be able to move. I specialize in creative transaction management and would be happy to give you some ideas. You shouldn't have any problem selling in Woodbridge - the market is moving rapidly - but since you just bough int 2010, we'll have to make sure we can put the financial pieces together correctly for you. I'd be happy to talk, feel free to give me a call anytime. It will only take me about 5 minutes to figure out what you'll need to make it work. Thanks, Chris
1 vote Thank Flag Link Fri Nov 16, 2012

There has been a lot of great advice provided to you. In summary you and your husband will want to begin with the three following items, if you have not already done so:

1. Explore and determine the reasons why you and your husband are wanting to sell (you have indicated that you want a larger home) ; THEN, Interview three Realtors, that are Neighborhood Specialist, not just a Realtor, but ones that know the market, know your specific area, and will provide you with a realistic and honest marketing plan that meets you and your husbands expectations. You are hiring the agent, the agent is not hiring you.

2. Explore what type of home you are wanting to move to. This will help you determine if now is the right time for you personally to sell and buy. The Realtor you hire can assist you with this process.

3. After the hire and the exploring, Sell, Buy, or Wait

This is just the beginning steps of a successful Real Estate Transaction.

Good Luck, whatever your decision may be. I have included a Market Insider Report to provide you with general Market information for your specific area. http://www.buysaleva.com/mimarket/zip/22193/ If you should have any questions, please do not hesitate to CALL, TEXT 703.596.2035 | email or visit my website.

Best wishes,
Stephanie Hardman
Keller Williams Capital Properties
Web Reference: http://www.buysaleva.com
0 votes Thank Flag Link Fri Nov 16, 2012
Angele, I would recommend that you sit down with a Realtor to discuss your options, so that you can have a clear picture.

My team and I would love to meet with you to discuss this further.
Myrlin Young - The GBY GROUP - Exit Choice Realty
Phone: 571.429.3111
Office: 703.350.4990 ext. 562
Email: myrlinyoung@exitchoicerealty.com
Email: myrlinexit@gmail.com
Website: http://www.thegbygroup.com
0 votes Thank Flag Link Fri Nov 16, 2012
Really wish you wel and some very good answers here. My only concern is what you can get for your present home. In this area it would probably be about a 10% loss as per market conditions/your closing costs as well as the commission . Best of Luck.
0 votes Thank Flag Link Fri Nov 16, 2012
Your first order of business is to find a realtor but you will need a CMA. Once your agent knows what you owe in your home and what other homes in your area are selling for, then you can work out the details.
I would love the opportunity to interview with you. But even before that, give me a call and we can go over comparables and options over the phone.

Misty Mount
Keller Williams
540 903 6686
0 votes Thank Flag Link Fri Nov 16, 2012
Dear Angele:

First of all it is absolutely a GREAT time to upgrade mainly for two reasons:
• Interest rates are fairly low
• Home prices are on a steady incline which is a very positive sign.

As home sellers and also buyers you and your husband need to be in charge of the decision to choose the right Realtor® for your real estate needs. I would highly recommend interviewing 2-3 different agents to see who can best evaluate the condition of your current home and compare it with other SOLD properties and provide you with a comprehensive market analysis of Active/Sold/Under Contract listings - plus guide you through the ‘selling’ and ‘buying a new home’ process so you can have stress free transactions!!

It is not unusual for homeowners to sell their current home and buy a new one and there are many options you can choose from. The best thing to do is to get together with a few Realtors® and see which option you would like to choose.

If you go that route, please give me the opportunity to be interviewed as well as I would be extremely happy to sit with you to understand your real estate goals and the key points you would like to focus on.

Good Luck!!

Best Regards,
Faiza Alvi - Realtor®
Prince William Realty, Inc.
703-389-7973 (Direct)
703-580-9995 (Fax)

I believe:
Real Estate is about building relationships
& serving clients with honesty, integrity & passion.
0 votes Thank Flag Link Thu Nov 15, 2012
Hello Angele,

This is a great time to sell a small home and purchase a larger one. Once the market value is determined for the home you own, it can be placed on the market FOR SALE. We can look for a larger one while the first one is for sale. Once you get a contract on the smaller home, you can go ahead and contract for the new one. The settlements can be coinciding, enabling it to be a smooth transition from one home to the other.

Please give me a call so we can work out the details.

Most sincerely,

Janet M Lange, ABR, CDPE, e-PRO, GRI, SFR, SRES
Military Relocation Specialist
Avery-Hess, REALTORS
0 votes Thank Flag Link Thu Nov 15, 2012
Hello, and thanks for giving us the opportunity to asnwer your question! In our current market, homes are selling on average, in about 40 days. I would recommend putting your home on the market and at the same time, searching for your next home. I would help you time the sale of your current home to coincide with you closing and moving into your new home.
The first step is getting together to do a consultation to best advise you. After doing an analysis and going over the marketing, we can decide whether or not we want to work together. Let me know if you have any other questions. Thanks!
0 votes Thank Flag Link Thu Nov 15, 2012
Hello Neighbor in Woodbridge
It would be wise to sell your existing home before buying the new one Unless you purchase your new home contingency on the sale of your current. I will be delighted to discuss the many options available to you. Please contact Emma Artis Long and Foster 793:201-6695 or Emma.artis@LNF.com
0 votes Thank Flag Link Thu Nov 15, 2012
Contact me and I will do a CMA (Comparative Market Analysis) of your home provide a Settlement Net Sheet for you and discuss what your home should be sold for. How much you owe on your current loan vs what you can sell your home for will determine what type of sale it is in addition to what your expectations are for purchasing the next home. I am available to discuss whenever you are ready. I do need to evaluate your home as well.

Cheryl Thomson, REALTOR
Buyers Advantage Real Estate Corp
4004 Genesee Place, Suite 113
Woodbridge, VA 22192

c: 703.216.5635

Retired (U.S Army)
0 votes Thank Flag Link Thu Nov 15, 2012
The first step is to figure out the value of your current home and put that on the market and start looking for your new and bigger home in the meantime. If you haven't a realtor, please give us a call and we discuss the details on the steps that needs to be taken.

Gamel Deen or Meti Tebebe
Classic Realty
0 votes Thank Flag Link Thu Nov 15, 2012
Hi Angele, you should contact a Realtor to request a sales report, better known as a comparative market analysis (CMA), for your neighborhood. This will give you and your husband an estimate of how much you could possibly sell for. I would highly recommend listing your home for sale first and of course consult with your lender to talk about your loan options.

Candace Noel
Associate Broker, Realtor(r)
Fairfax Realty, Inc.
0 votes Thank Flag Link Thu Nov 15, 2012
You answered your own question. Unless you can afford to pay two mortgages at the same time and put 20% down on the bigger home, you would need to sell the curret home first.
0 votes Thank Flag Link Thu Nov 15, 2012
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