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Second Inning - Game Plan
Pitch 1
-Financial Game
Plan
How much do I owe and how much will it cost
to sell my current home? Before you even start, this is the first step. Call
your mortgage company, get the pay-off in writing. Figure taxes, interest
in arrears, inspections, repairs, commissions if you hire an agent,
contributions to the buyer's costs...everything. Develop a plan knowing
what you need to get and what you want to get and then go forward.
Pitch
2 - Moving Up
Will the numbers work for me? It is as important to
have a financial game plan when selling as it is when buying. Transition is
fun and tricky. So when you do a game plan for selling and you know the
bottom line, you can turn around and apply that towards the purchase of
your next home. It makes sense to do all of the planning, adding and
subtracting up front and allow for some surprises as well.
Pitch 3 - Scaling Down
What do I want and where do I think I am
moving? This is delicate. Working with Seniors, one might ask many good
questions. Like where do you think you want to go, have you been there, do
you know the lay of the land and people...or maybe it would be a good idea
to rent the house and go explore first. Scaling down is as important as
moving up and should be done with great care. And it can also be just a
whole lot of fun. Read F-R-E-E-D-O-M!
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Coach's Tips
Pinch Hitters
The Net
If there is a first mortgage and a second and taxes, there may not be enough net to make
the next move.
The Transition
Thinking about transition requires thoroughly investigating the process of financially
getting to the next step. This means credit checks and discussing the move with a loan
originator first before you ever think of putting your house on the market.
The Location
Empty nesters usually have a good idea where they are going and caution is always the
watch-word for moving away from friends and relatives. Visit a new town or location often
if you can. |
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