Answers by Iryna Swallow

This is a very common question, and you’re not alone in feeling unsure about where to start. The good news is that you don’t have to figure everything out on your own before selling. The first step is actually talking with a real estate professional to create a plan, not calling contractors or scheduling photos. Many homeowners assume they need to fix everything before listing, but that’s often not necessary and sometimes can even lead to spending money on the wrong improvements. Here’s how the process typically starts. 1. Determine your home’s current market value A real estate agent can prepare a comparative market analysis (CMA) using recent nearby sales. This helps estimate what your home could realistically sell for in today’s market. 2. Review your estimated net proceeds Once you know the potential price, the next step is understanding your numbers. Your agent can estimate how much you may walk away with after paying off the mortgage, closing costs, and commissions. 3. Identify which improvements actually matter Not every repair or upgrade adds value. Sometimes simple things like decluttering, small touch-ups, or light staging make a bigger difference than major renovations. A good agent will help you prioritize improvements that have the best return. 4. Prepare the home for market This is when professional photos are scheduled, the listing is created, and a marketing plan is put together. Typically your agent coordinates the photography and listing preparation. 5. Plan your next move If you haven’t chosen where you’re moving yet, that’s completely normal. Many sellers explore their next home while their current home is on the market, and there are strategies that can help make that transition smoother. Selling a home is really about having the right strategy from the beginning, rather than trying to prepare everything on your own. As a REALTOR® working with homeowners across Utah, I often see that sellers who start with a simple planning conversation tend to save time, avoid unnecessary expenses, and ultimately sell their homes more smoothly.

Moving to another state is actually more straightforward than many people expect. There usually isn’t a special “exit” tax or filing required just for moving. However, there are a few practical steps that help make the transition smoother. 1. Update your address and residency records Once you move, you’ll want to update your address with the U.S. Postal Service, your bank, insurance providers, and other important accounts. After settling in, most states require you to update your driver’s license and vehicle registration within a certain time period. 2. Understand state tax differences You typically don’t pay a tax just for leaving a state. However, when you file your income taxes the following year, you may file a part-year resident tax return in each state if you lived in both during that year. A tax professional can help clarify how that works based on your timing and income. 3. Plan the home buying process in the new state Since you’re planning to purchase near Chicago, it’s helpful to connect with a local real estate professional early. They can help you understand neighborhood options, price ranges, commute patterns, and how the local home buying process works in Illinois. 4. Coordinate financing if you plan to buy If you’ll be getting a mortgage, lenders may ask about employment location, income stability, and your plans once you move. Speaking with a lender early can help avoid surprises during the home buying process. 5. Prepare for moving logistics Long-distance moves require some additional planning—scheduling movers, transferring utilities, and timing your move with a lease or home closing if applicable. In most cases, the key steps are simply updating residency records, understanding how taxes will work for the year you move, and coordinating your housing plans in the new state. Many people relocate successfully every year, and with a little planning the process can be very manageable.

First, I want to acknowledge how much you are navigating right now. Caring for family members while trying to make financial and housing decisions can feel incredibly overwhelming. You\'re asking the right questions, and situations like this deserve thoughtful planning rather than rushed decisions. From what you described, the most important thing right now is understanding all of your options before spending money on repairs or deciding to sell. Here are a few things I would usually recommend looking at first. 1. Understand the true value of your equity Since you mentioned having significant equity in the home, the first step is determining what the home could realistically sell for in today’s market. Once that number is known, a professional can estimate what you would actually walk away with after paying off the loan and closing costs. 2. Do not assume you need major updates before selling Many homeowners think they must repaint the entire house or replace carpet before listing, but that is often not necessary. Buyers frequently make cosmetic changes themselves after purchasing. Sometimes basic cleaning, decluttering, and small touch-ups are enough. 3. Compare the cost of staying vs. moving If HOA dues or maintenance are becoming difficult, it may be helpful to look at whether selling would actually improve your monthly financial situation. In some cases it does—but in others, as you mentioned, current interest rates and housing prices can make moving more expensive. 4. Explore financial and housing strategies Depending on the situation, there may be additional options worth discussing with both a financial advisor and a real estate professional, such as: using home equity to reduce monthly expenses renting part of the home if possible exploring programs that help older homeowners access equity while remaining in the home 5. Build a coordinated plan Because there are health considerations and family needs involved, decisions like this are usually best made with a small team—an experienced real estate professional, financial planner, and elder law attorney working together. The most important takeaway is this: don’t rush into spending money on large repairs or renovations until you fully understand whether selling actually improves your situation. In many cases, homes can still sell successfully without major updates. As a REALTOR®, I often encourage homeowners in complex situations to start with a simple evaluation of their home’s value and possible options, so they can make a decision based on clear numbers rather than uncertainty.

Yes, it absolutely can. When a home is listed as contingent, it usually means the seller has accepted an offer, but the sale still depends on certain conditions being completed first. Until those conditions are satisfied and the sale officially closes, there is still a possibility the deal could fall through. Common contingencies include things like: Inspection contingency – The buyer may negotiate repairs or even cancel the contract if major issues are discovered. Financing contingency – The buyer still needs final loan approval from their lender. Appraisal contingency – The property must appraise at or above the agreed purchase price. Sale of another home – Sometimes the buyer must sell their current home before completing the purchase. If one of those conditions cannot be met, the contract may fall apart and the home can return to the market. In some cases, sellers will also accept backup offers while the property is contingent. A backup offer places you in line if the current contract doesn’t work out. If you\'re really interested in the property, it’s often worth asking your agent to: • find out what type of contingency is in place • see if the seller is accepting backup offers • monitor the listing in case it comes back on the market While contingent homes do have an accepted offer, transactions sometimes change before closing—so it doesn’t necessarily mean the opportunity is gone.

First, I’m sorry for your loss. Inheriting a home can bring a lot of mixed emotions, and it’s also a big financial decision—especially if you weren’t expecting to become a homeowner so early. There isn’t one right answer, but there are a few important things to look at before deciding whether keeping or selling the home makes the most sense. 1. Understand the real cost of keeping the home Even when the mortgage is paid off, there are still ongoing costs such as property taxes, insurance, utilities, maintenance, and possible repairs—especially if the home is older. It helps to estimate what the monthly and yearly costs would realistically be. 2. Consider whether the home fits your lifestyle right now Ask yourself whether living in the home works for your current stage of life. Location, commute, size of the home, and upkeep responsibilities all matter. Sometimes a house that made sense for previous generations may not match your needs today. 3. Evaluate the property’s condition If the home is a “time capsule,” it may need updates or repairs over time. That doesn’t necessarily mean you must renovate everything immediately, but it’s important to understand what maintenance might be required in the coming years. 4. Look at the financial opportunity Because the mortgage is paid off, the home likely represents a significant asset. Some people choose to keep the property and live in it, rent it out for income, or sell it and use the proceeds to support other financial goals such as paying off debt, investing, or purchasing a different home. 5. Talk with professionals before deciding It can be helpful to speak with a real estate professional and possibly a tax professional to understand the home’s market value, potential selling costs, and any tax considerations related to inherited property. For many people, the decision ultimately comes down to whether the home supports their financial stability and lifestyle moving forward. Taking the time to understand the numbers and your options can make the decision much clearer.

This is a very common challenge in competitive markets. While price certainly matters, sellers often look at the overall strength and reliability of an offer, not just the highest number. If your budget is limited, there are still several ways to make your offer more attractive. 1. Get fully pre-approved by a lender A strong pre-approval (not just a quick online pre-qualification) shows the seller that your financing has already been reviewed. This reduces uncertainty and gives the seller more confidence the transaction will close. 2. Keep the offer as clean as possible Offers with fewer contingencies or shorter timelines often stand out because they simplify the process for the seller. For example, shortening inspection timelines or avoiding unnecessary contingencies can make an offer more appealing. 3. Offer a strong earnest money deposit A larger earnest money deposit signals that you are serious about the purchase and confident in moving forward. 4. Be flexible with the seller’s timeline Sometimes timing is just as important as price. If the seller needs a quick close—or extra time after closing to move—being flexible can make your offer more competitive. 5. Present a well-prepared offer package An organized, professionally written offer submitted quickly can make a positive impression. Sellers often gravitate toward offers that appear smooth and straightforward to work with. 6. Work with an experienced agent who understands negotiation strategy In competitive situations, strategy matters. A knowledgeable agent can often identify what the seller values most and structure the offer in a way that aligns with those priorities. While every market has its own nuances, the common theme in competitive areas is this: sellers tend to choose the offer that feels most likely to close smoothly and without surprises. Even if your offer isn’t the highest price, a well-structured offer can still stand out.

That’s a fair question—and honestly, someone with an analytical background like an actuary is already thinking about this the right way: looking at the cost versus the value of professional guidance. Technically, it is possible to buy or sell a home without an agent. But most people hire one because the process involves more than just finding a property and signing a contract. A good agent helps reduce risk, manage complexity, and negotiate effectively during one of the largest financial transactions most people make. Here are a few areas where an experienced agent can add real value. 1. Market analysis and pricing strategy Real estate markets move quickly and can vary block by block. Agents spend a lot of time studying comparable sales, inventory levels, and pricing trends to help determine a competitive offer or listing price. Pricing too high or too low can have significant financial consequences. 2. Negotiation and deal structure In many transactions, the final outcome depends less on the initial price and more on the structure of the deal—things like contingencies, timelines, repair negotiations, and closing terms. An experienced agent helps structure offers to protect your interests while still making them competitive. 3. Managing risk and avoiding costly mistakes Real estate contracts, disclosures, inspections, and financing deadlines all carry legal and financial implications. Missing a detail or misunderstanding a clause can lead to delays, unexpected costs, or even a failed transaction. 4. Coordinating the transaction A typical transaction involves multiple parties—lenders, inspectors, appraisers, title companies, and sometimes contractors. Agents often act as the central coordinator to keep everything on schedule from offer through closing. 5. Access to experience and perspective Many buyers and sellers go through this process only a few times in their lives, while agents handle transactions regularly. That experience can help anticipate issues before they become problems and provide guidance when decisions arise. For analytical thinkers, it can sometimes help to view it the way you might evaluate any professional service: not just by the fee, but by the value of expertise, risk management, and time saved. In the end, the goal of a good agent isn’t simply to facilitate a transaction—it’s to help ensure the process is handled smoothly and that you make informed decisions along the way.

Great question. Selling a home for the first time can feel just as overwhelming as buying your first one, especially when it comes to understanding how equity works and what happens at closing. The good news is the process is actually very structured. Most home sales follow five main stages. 1. Understand your home’s value The first step is determining what your home could realistically sell for in today’s market. This is usually done through a comparative market analysis (CMA), where recent nearby sales are reviewed to estimate the current value of your property. 2. Estimate your net proceeds Many first-time sellers are surprised that the sale price isn’t the amount they take home. From the purchase price, you’ll typically subtract: remaining mortgage balance agent commissions title and closing costs any negotiated repairs or buyer concessions What remains after those items are paid is your equity, which becomes your net proceeds. 3. Prepare the home for market Before listing, most sellers benefit from small improvements that help maximize value—things like decluttering, light staging, fresh paint, or minor repairs. Presentation and photography can make a big difference in how quickly a home sells. 4. Listing, marketing, and negotiations Once the home is on the market, buyers will schedule showings and submit offers. Your agent will help you evaluate not just price, but also terms such as financing strength, contingencies, and closing timelines. 5. Closing and receiving your equity After you accept an offer, the buyer typically completes inspections, appraisal, and final loan approval. At closing, the title company distributes the funds from the buyer’s lender. Your mortgage is paid off first, and the remaining equity is then wired or given to you as proceeds from the sale. Most transactions in Utah close about 30–45 days after an offer is accepted, depending on the buyer’s financing. One of the most helpful things first-time sellers can do early on is ask their agent for a net proceeds estimate, which shows approximately how much equity you may walk away with after all costs are paid. As a REALTOR® working with sellers across Utah, I often see that the sellers who plan ahead—pricing correctly, preparing the home well, and understanding their numbers—tend to sell faster and with far less stress.

This is one of the smartest questions a buyer can ask at the beginning of the process. Buying a home can feel overwhelming because there are several moving parts happening at the same time. The good news is that once you understand the simple roadmap, the process becomes much easier to manage. When I guide buyers through the process, I usually break it down into five clear stages instead of a long checklist. 1. Understand your budget first Before looking at homes, it\'s important to know what monthly payment feels comfortable. A quick conversation with a lender will help determine your price range, loan options, and estimated payment. This step prevents buyers from falling in love with homes that are outside their financial comfort zone. 2. Narrow down the right location and home type Many buyers start by browsing hundreds of listings online, which can quickly become overwhelming. Focusing on commute time, neighborhood feel, home size, and long-term value helps narrow the search significantly. 3. Tour homes strategically Once your budget and target areas are clear, you can begin touring homes. At this stage, I encourage buyers to look beyond cosmetic finishes and focus on the things that truly affect long-term satisfaction—layout, neighborhood, natural light, and future resale potential. 4. Offer, negotiation, and due diligence When you find the right home, your agent will guide you through making a competitive offer, negotiating terms, and navigating inspections, appraisal, and lender requirements. 5. Closing and move-in The final phase is when the lender finalizes the loan and the title company prepares closing documents. Once everything is signed and funded, you receive the keys and officially become a homeowner. While checklists can be helpful, most buyers stay organized more easily when they have a clear timeline and someone guiding them through each step so nothing important gets missed. If you\'re just getting started, the two most helpful first steps are: • speaking with a lender to understand your budget • connecting with a knowledgeable agent to map out the process As a REALTOR® working with buyers throughout Utah, I often see that the buyers who take time to understand the process early tend to have the smoothest and least stressful home buying experience.