I was referred to Dawna by a mutual friend when I started looking for my dream retirement beach house in Cayucos. Our journey together took three years with lots of looking and discussions to finally find me the perfect house. I can't thank Dawna and her amazing Executive Assistant Jodi for all of their patience, helpfulness and hard work on my quest to find the perfect home. Both Dawna and Jodi made me feel like they had all of the time in the world for me when I called with questions or concerns. Dawna is always cheerful and such a pleasure to work with. She is very responsive and extremely knowledgeable about the central coast. I highly recommend Davies Company Real Estate for all of your real estate needs. I wouldn't hesitate to use Dawna again and I did.... I used Dawna to sell my Paso Robles home after I purchased my new home. I once again found both Dawna and Jodi to be extremely professional and knowledgeable about the market. Dawna did a wonderful job of marketing my house and went above and beyond until it sold.
1. Ignore the increase in interest rates. Buyers will only be able to get the loan and rate that is available at any given time. Set up the timing for listing your property at a time that works best for you. If the property sells quickly, you may need to start your transition sooner than you expected and if you need a loan, you may be subject to the same market conditions.
2. Price slightly below the comparable sales. Buyers will be attracted to your price and may be willing to add additional cash or gifts to increase their offer so they can keep the loan amount/payments the same.
3. Consider what terms will be attractive to you, beyond price. In some cases buyers may be willing to let you stay in the property beyond closing, and/or pay some of your closing costs, among other concessions. This may be more affordable to a buyer than risking an increase in their interest rate or payment amount on a 30-year loan.
4. Do the math. To help determine the market for your property, calculate payments based on a conventional 30-year loan with 20% down. With this amount, figuring that the loan payment may be about 40% of a buyer’s monthly income, you will get an idea of the income level and lifestyle of a possible buyer. Often this is suprising to a seller.
5. Consider seller financing. If the property that you are selling has no current financing, this may be a beneficial option. If you put your cash after closing into a savings account, you may get a much lower rate of return than if a buyer is making payments to you at a current market interest rate.