3 tips for downsizing in a hot market

It’s common for seniors living in up-and-coming areas to be solicited by realtors and potential buyers interested in their homes. A hot real estate market can be a boon if you’re looking to downsize, but it can also attract predatory buyers and lowball offers.

Here’s how to get the most out of this opportunity, especially if you’ve been off the market for a while.

1. Hire a good realtor. Interview three or more and check their references. Ask questions about their experience with selling properties like yours, their general approach to closing on sales and what you can expect in terms of communication. You should also ensure that the realtor you hire is a registered member of the relevant professional organization in your area.

2. Get a market analysis. It’s important that you have a clear understanding of your home’s actual value. Your realtor should be able to provide you with a realistic estimate. You should also get a home appraiser to assess the value of the property.

3. Make your wishes known. Just because you’re selling doesn’t mean you need to leave everything behind. You’re perfectly within your rights to request that valuable or sentimental items, such as your vintage chandelier, be excluded from the sale.

Downsizing in a hot market can mean a quick sale, but it’s important that you work with a reliable realtor to ensure you get the most out of the deal.