How to Sell Your Philadelphia House to Relocate
You received the call of a lifetime. The career move you have been praying, working and waiting for has found its way to you. You are on a path to acceleration and you couldn’t be happier. After telling your family, you fly out to visit your new location, check out a few neighborhoods before leaving, and return home to divulge all the details. Now that your high has finally come into submission you’re faced with the particulars as far as wrapping up business before moving out. You need to sell your current home.
I stumbled across an insightful read at The Nest written by Elle Smith. The article, which was tabbed under Budgeting, offered a few savvy tidbits if you are thinking how to sell your Philadelphia house to relocate.
Consider where you will stay once you sell
Smith opted to highlight one of the most important and simplest bits to remember to consider. Know where you are moving. However, it’s likely that you know that much if you are planning to sell.
Now that we have pinpointed that part, it’s also safe to say that you may have visited a few neighborhoods, and briefly scouted a few places. Yet, you still haven’t decided on the new neighborhood, let alone found a new home. Don’t be in a rush. Explore your options before you make a frantic move.
Perhaps you will be interested in renting in the new state before choosing a new home for purchase or, maybe you’ve already found a new home, or may be having a new home built. If it is the latter, where will you stay during this process? If you prefer not to take on a rental lease, renting your current home until the sale of your new home is closed or the construction is completed, may be a great option.
Become a rental tenant in the house you sold
This sounds exactly the way it should. If you haven’t quite gotten things situated in your new location, Smith suggests speaking with the new owner (assuming the home has sold) of your current home about renting to you as a temporary tenant. Be sure to discuss the time frame, as the new owner will either move in or move another tenant in after you.
Apply for a Bridge Loan
Say your new buyer declined the opportunity to have you as a temporary tenant for whatever reason, Smith suggests a bridge loan as a possible aid during this time. A bridge loan will allow you to use your current as collateral to finance your new home purchase in the new state. Keep in mind, this option is best in a market that is favorable as the value of your home will ideally appreciate quickly, and effectively cover the additional payments of the old loan.
Bridge loans are generally for the duration of a six-month time frame and requires a lien free home and outstanding credit.
Rent in the new state
Relieve the pressure when the need to sell your Philadelphia house to relocate arises. Consider an apartment home rental in the new state. Most apartment communities offer leasing options that range from 3 months to 15 months. Some units are as well already furnished and available at request.
If your time frame is much shorter, Smith suggests an extended stay as a better, and possibly more affordable option. For your belongings, storages are available on nearly every corner in every city in America.
Price your home to sell
Prepare your home for the market. This includes maintenance and cosmetic issues. These things are mandatory or you could possibly find your home on the market for an extended period of time without a buyer in sight. Besides, you’re moving to another state to start things anew, tie up all loose ends to avoid unnecessary hassle.
Suppose you find that you are still having trouble trying to sell your Philadelphia house to relocate
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