One Move – Not Two

Want to sell your home and move, but don’t want to move twice?

I get calls from clients very frequently about wanting to move and the options for that situation. I always hear we don’t want to move twice so what can we do?

Here are the options:

  1. Start looking at homes and when you find one you like make an offer contingent on listing and selling your home. NOT a good option in this market. If you were the seller, would you want to wait for the buyers to sell their house in order to buy yours? Would you be flexible on the price if you were the seller? Wouldn’t you rather be looking at buyers that have their money in the bank and are ready and able buyers? Of course you would and so would ANY seller in this “seller’s market”.
  2. List and get your home in escrow and then make a contingent offer on the closing of your home. This is MUCH better than option #1. In this situation, you will have more bargaining power with the seller for negotiating price and terms of your offer. This option still is not as desirable to the seller, as you can’t buy until you close your escrow. If a cash buyer or a buyer with available funds to close their loan makes an offer on the same property as you, YOU won’t win in most cases.
  3. Sell your home and rent until you find the perfect home. This is really the best option but most people just don’t want to move twice and I get that, but consider this. If you sell your home first, you are in a much better bargaining position on price and terms because your offer would not be contingent on listing and selling your home. This would require moving twice and is a problem for most people.

Great News! I have been very successful in listing homes for buyers who want to move up or downsize in this market and here is how:

I list your home contingent on you finding suitable housing. When an offer comes along, I let the buyer’s agent know we may need a longer escrow or even possible a rent back after the closing of your home from the new buyers. This gives you much more time to find suitable housing for you and your family. What about being able to negotiate with the sellers of the home you want to buy contingent on the sale of your home? Here is the secret; I get the buyers of your home to get all the inspections, appraisals etc. done in the first 10 days of the escrow being opened. I also insist they remove ALL contingencies for the loan, appraisal, and inspections asap. Also, since I am a Mortgage Broker, I insist on prequalifying ANY buyer that makes an offer on your home to make sure they really do qualify for the loan in question. Here is why this matters: When I go to the sellers agent on the home you want to buy, I explain that I have a very solid deal on your home, that I have prequalified the buyers and I am confident they can get the loan and that all your buyers contingencies have been removed on your sale of your home and you are ready to purchase the home in question. You are now a real buyer and not just another contingent offer! It works my friends. Call me about your situation today.

Warmest Regards,
Keith

Posted in Seniors.