Although it may not be initially apparent to most home, duplex, triplex or fourplex sellers, the fact is that a person’s motivation for selling a property is the single greatest factor in whether the property actually sells. Are you a motivated seller?
Whether you have outgrown your starter residence, you want to trade up, you want out of being a landlord, you have inherited a property, you want in on the booming seller’s market or you are moving to another town or state for work-related reasons, you should clearly identify your reasons for selling.
The process of selling your home or multi-family property can be time-consuming, labor-intensive and of course, expensive. Therefore, the first thing you should do is to ensure you are not jumping the gun and that you’re truly ready to sell your property. What is your motivation for selling?
Do You Have Equity on Your Side?
Review your most recent mortgage statement and find out how much you owe under “principal balance.” For an accurate home valuation, you should consult an experienced real estate agent and have them prepare a comparative market analysis, or CMA. After you have these two numbers, take your current home value from the CMA and subtract what you owe. This will give you a rough idea how much equity you have.
Having some equity puts you in a much better position to sell versus owing more than your property is worth. Owing more than your property is worth places you in a “short sale” position, which is much more complicated.
Ready to Sell a Home or Multi-Family Property in Silicon Valley?
Selling a home or multi-family property can be stressful, but Debbie Marino is here to help. If you live anywhere in Silicon Valley, call or text Debbie at 408-210-2400 or send an email to Debbie@PropertiesInSiliconValley.com to request a free, no-obligation consultation.
If you’re also looking for a new home or multi-family property in Silicon Valley, use the links below to get started:
Silicon Valley Real Estate Searches by Property Type
- San Jose homes for sale | San Jose Duplexes for Sale | San Jose Triplexes for Sale | San Jose Fourplexes for Sale
- Campbell homes for sale | Campbell Duplex for Sale | Campbell Triplexes for Sale | Campbell Fourplexes for Sale
- Santa Clara homes for sale | Santa Clara Duplexes for Sale | Santa Clara Triplexes for Sale | Santa Clara Fourplexes for Sale
- Cambrian Park homes for sale | Cambrian Park Duplexes for Sale | Cambrian Park Triplexes for Sale | Cambrian Park Fourplexes for Sale
- Los Gatos homes for sale | Los Gatos Duplexes for Sale | Los Gatos Triplexes for Sale | Los Gatos Fourplexes for Sale
- Monte Sereno homes for sale | Monte Sereno Duplexes for Sale | Monte Sereno Triplexes for Sale | Monte Sereno Fourplexes for Sale
- Rose Garden homes for sale
- Saratoga, CA homes for sale | Saratoga Duplexes for Sale | Saratoga Triplexes for Sale | Saratoga Fourplexes for Sale
- Willow Glenn homes for sale
- Silicon Valley Duplexes for sale
- Silicon Valley Triplexes for sale
- Silicon Valley Fourplexes for sale
Search Silicon Valley Investment Property & Real Estate Listings by Price
- Below $500,000
- $500,000 to $600,000
- $600,000 to $700,000
- $700,000 to $800,000
- $800,000 to $900,000
- $900,000 to $1,000,000
- $1 million to $2 million
- $2 million to $3 million
- $3 million to $4 million
- $4 million to $5 million
- $5 million to $6 million
- $6 million to $7 million
- $7 million to $8 million
- $8 million to $9 million
- $9 million to $10 million
- $10 million and up