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The Dolans' Home-Selling Plan (Page 1 of 6)

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We have sold properties in various parts of America in recent years, so we know just what a tricky business it is to orchestrate the "process" so that you maximize your sale price. You can do it, but you have to be an active seller; you can't simply let the process take care of itself.

Of course, if it's your primary home we're talking about, you will probably be looking for a new house while you're selling the old one.

Here's our first Dolan Tip: If possible, don't put more pressure on yourself by buying house B before you sell house A. You don't need two mortgage payments at once, after all. If you buy a new place first, you might become desperate to unload the old one, which means you'll be willing to sell for less. If you sell your house first, then need a new home, you might be so eager to buy that you don't hold out for the best terms.

When you're both a buyer and a seller, you're in a tug-of-war on both ends, trying to get the lowest price as a buyer in one case and trying to get the top price from your own buyer on the other. Isn't that a comment on life: Eat or be eaten, right?

It's a stressful and time-consuming proposition, no doubt about it, but here's our step-by-step guide for you to get a win-win deal all around:

Step 1: Find the Right Agent

Thinking of trying to sell your house yourself? Unless a serious buyer is standing on your front porch as you read this, or you live in a market so hot that houses are selling overnight, we have two words of advice: FORGET IT!

You won't have comparables - that is, records of other recent sale prices in your area - to show potential buyers. You'll get people knocking on your door at all hours, and you'll have no idea if those people who appear when you're in the middle of dinner (or even getting ready for bed) are deadbeats or worse.

The 6% commission that you likely will have to pay a broker is well worth the expertise you get in return. If we'd been left to our own devices, we would have sold a condo we once owned for $50,000 less than we actually got for it. We're still grateful to a real estate agent who happened to also be the building manager. When she heard we were planning to sell, she asked how much we wanted. When we told her, she was shocked. Only by talking to her did we learn that a condo similar to ours had sold two months before for $50,000 more than we were planning to ask. As soon as she told us that, we hired her as our agent!

For the sake of true disclosure, we must admit we did sell our golf condo in Florida without a real estate professional. It happened out of the blue. Sometimes this kind of deal works out.

Our plan was to upgrade to a house in the area. Through a real estate broker, we found the perfect home and signed a purchase-and-sale agreement for five months later to accommodate the seller.

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