Being in-between homes is more common than you think, due to the limited inventory that started in April of 2020. The problem is for every home sold, most likely, one must be bought. As a seller, a quick sale is highly likely with a well-priced home. We have less worry that a home will linger on the market, having to endure price cuts and endless foot traffic. The question we hear all the time, is “Where do we go now?” This is a new challenge and how we can help you handle the transition is where our expertise comes in.
The news is clear that now is the perfect time to maximize profits while selling a house. The National Association of Realtors® just released a study showing that bidding wars are at an all-time high. Whenever there’s a bidding war, the price of the item for sale escalates. Bloomberg recently: “For the first time ever, the average U.S. home is selling for above its list price.” There is no better time than now for a seller to be looking for a top-dollar sale.
So why are you hesitating to put your home on the market? Let us guide you with our proven strategies to not only get you top dollar but also to help you overcome your fear of selling.
We will discuss with you the terms to put in the contract that will help you with the transition time. It never hurts to ask the buyer if they can wait. They may just have a more flexible timeline. Perhaps they are waiting for their children to finish school or can rent until you are ready to move. There are multiple options that can be discussed to accommodate both sides.
Vacation Homes/Corporate Housing
Consider a short-term vacation rental, especially if you work from home. There are many options now. Many are furnished, so just store your furniture. We even have some of our clients renting Airbnb out of state for a month or two, enjoying the fresh air of the mountains and working remotely until we find their new forever home.
Leaseback for the Seller
Today as a seller, you know have tremendous leverage. Most already realize this leverage enables the homeowner to sell at a good price; however, this leverage may also be used to negotiate time to find their next home. The homeowner could sell their home to the buyer at today’s price, which will enable the purchaser to take advantage of current mortgage rates. In return, the buyer might lease the house back to the seller for a predetermined length of time while the seller finds a new home or has one built.
This gives the buyer what they want while also giving the seller what they need. It’s a true win-win negotiation. As a seller, you get the relief of knowing there are options available while you find your new home while still being able to capture the market on the selling side. Trading one valuable asset for another valuable asset is always a good choice to have!