Home Selling Tips: Managing Your Quick Settlement

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If you’re one of the lucky sellers whose home sells after only a few days on the market, congratulations are in order. Once the realization of your home sale has set in, here are some tips to help you manage a quick settlement.

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If you’re one of the lucky sellers whose Philadelphia home sells after only a few days on the market, congratulations are definitely in order! Yet, once the realization of your home sale has sunk in, it’s time to make a few important decisions. If you have a new home ready and waiting, then the move process will be easier. But it’s tough to time a move perfectly. Maybe you listed your home with lower expectations and no defined plan to move out. In that case, here are home selling tips for those dealing with a quick settlement.

Don’t Feel Pressured to Rush Your Decision

If your home is priced to sell in a desirable neighborhood, buyers may pressure you to close a deal quickly. In these situations, sellers shouldn’t cave to unrealistic time demands. A properly executed home sale takes time to process and you shouldn’t feel compelled to skip steps. If any aspect of the deal makes you uncomfortable, take time to investigate and ensure that all your questions are answered before you move forward. This includes a financial evaluation of the buyer — the last thing a seller wants is to go through a Herculean effort to get to settlement day only to find out that the buyer’s mortgage fell through.

Call Moving Companies Right Away

If you need to be out of your house during the busy summer season, movers should be scheduled weeks or months in advance. As soon as your settlement date is set, you’ll need to secure a moving van. Also, if you have a lot to pack in a limited time, you may want to price out packing assistance. To find a moving company, check trade association websites such as Pennsylvania Moving & Storage Associates for a list of licensed companies.

Consider Temporary Options

You may still wish to find a permanent home prior to your quick settlement, but it also makes sense to find a backup solution. Price out temporary housing, or month-to-month apartment leases plus storage costs for your extra furniture. Renting for one year may also be an option if you need more time to find the home you love. However, a consideration of future home prices should be a factor. If you expect prices to continue to rise, you may not want to wait a long time to purchase your next home.

If You Need More Time, Ask for It

Sometimes no matter how hard you try, you’re unable to meet the proposed settlement date. If you think a week or two would give you the breathing room you need, ask your real estate agent to bring this up with the sellers. The buyer may want to be in the house before school starts, or they may be more flexible with the settlement.

In the busy Philadelphia real estate market, selling a home quickly is a real possibility. Consult your real estate professional for additional home selling tips and be sure to check the current real estate listings when it comes time for you to buy your next home.

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Jennifer DiGiovanni is a freelance writer and a partner in a real estate investment firm focusing on residential properties. She previously worked in the financial services industry and has earned an MBA from Villanova University. Jennifer enjoys writing about real estate, home improvement and small business.

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