Four Reasons People Sell A Home
Posted on: 21 August 2019
The process of selling a property usually brings half excitement and half nervousness. The reason for the move can have a lot to do with which feelings you are experiencing. There are multiple things that could make someone put their home on the market. This guide goes over some of the negative and positive factors that could result in a person deciding to sell the property.
Change in Relationship
One of the most drastic reasons that a person would decide to sell the property is a sudden change in the relationship. A couple that files for divorce may make the choice to sell the house and split the profits from it. Other times, one spouse stays and pays the other spouse half of what the house is worth in order to live in the house after the divorce. Another sudden lack of relationship is the death of a spouse. Staying in a home that has so many memories of the lost loved one can be extremely difficult, especially for elderly people. The widow can sell the home and relocate.
Difficulty Paying Mortgage
The mortgage on the house is due monthly or according to the terms in the contract. For whatever reasons, you may find it difficult to afford the payments. You can work with the bank, but they will only allow it to go so long before they are forced to file foreclosure on the house. The property will usually go up for auction so the bank can recoup some of their loss on the home. Once the foreclosure has become official, you will only have a certain number of days to vacate the premises before you will be locked out by the local sheriff.
Upgrade/Downgrade
Families will put a home up for sale if they want to upgrade or downgrade in regard to the new desired amount of space in the property. When a family adds to its numbers, they will need more bedrooms and square footage. After the kids have grown, they will go in the opposite direction and find a house that has less space and is perfect for the remaining number of occupants.
Relocation
Another common reason you will list a home for sale is relocation. It may be close or it can even be thousands of miles away. Unless you are on a close timeline, you can choose to list the home and wait for the sale to go through before buying a new one. Otherwise, you can list the home and purchase a new one without waiting.
If you keeping thinking "I want to sell my house," contact a real estate agent soon.
Share