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    How do I Buy and Sell at the Same Time?

    How do I Buy and Seller at the Same Time?

    Is an extremely valid question. Most of our sellers are also buying in our market.  The problem facing sellers that they can sell their house easily but have a harder time finding the right home to purchase.

     

    There are a few paths to getting this done.

    1. Do you have temporary housing that you could use between your home sale and your home purchase?

    If so, this is the ideal path. Because there are so many buyers vying for each home, a contract written to purchase that is tied to your home selling is less attractive to a seller. The best way to go forward is to spend time with us making sure what you want to buy exists and is likely to exist once your current home is sold. We can answer that by reviewing past sales data and seeing some homes with you.  There are two main benefits to this path. By isolating the buy and sell transactions so neither is dependent on each other, you present stronger offers when buying and you can hold your ground with inspection or other contract conditions that are important to you. If you do not have temporary housing, you might consider an extended stay suite and a move through a “pods” style moving company that better handles temporary storage of your furnishings.

    2. We are willing to door knock and call neighborhoods to find you an off-market home.

    This is also a relatively less complicated path.  An off-market seller typically is not ready to sell and typically not ready to move. This can make them more receptive to a longer and/or a contingent offer. Another benefit is that you are likely the only one trying to buy the home which does help level the buyer/seller imbalance some. Do not expect to find the home at a discount, but paying the appraised or fair market is a good assumption.

    If none of the above applies we do have a third plan that allows you to sell your home, stay in your home and terminate your home sale if you cannot find the right home to purchase.

    3. Sell your home, then shop for your next home and continue to live in your home.

    Call for an appointment if you would like to review all options in this plan. The short story is as follows: We would market your home with two stipulations. 1) Seller reserves the right to terminate the purchase contract if they cannot find a suitable home purchase. 2) Seller requires 60 days post closing occupancy of their current home.  The legal versions are longer and we can review them in person.

    With both of the above terms in place, you can accept a contract to sell your existing home and still have 30 days to have a home you want under contract. Once you are past the inspection and financing conditions of your existing home sale, a seller would be more likely to accept a contingent offer knowing you are extremely likely to close on your home in another seven days.  If you did not get a conditional contract accepted but felt good about your options, you would still have about 30 days to get your next home under contract now without a home sale contingency.

    Questions about a home value?

    Need us to set up a home search for you?

    Call, text or email to set up an appointment for us to review a plan that best suits your individual needs.

    -Pete

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