Here’s my advice for home sellers who are nervous about buying.
The No. 1 question I’ve been hearing from homeowners lately is, “I would sell, but what am I going to buy?” We have a strong seller’s market, and that means things are tough for buyers. There just aren’t a lot of homes to choose from. The homes that do come on the market are fiercely competed over by buyers.
Here are a few tips for helping you get through that scenario:
1. Set up a consultation. A quick Zoom call or in-person meeting with a good agent can help you answer the question of whether now is the right time for you to sell or not. The more we learn about your situation, the better we can determine the right time for you to sell. If we do determine it’s the right time, it’s on to step two.
2. Opposite day: Look at some homes first. Typically, you’re going to sell your home and then buy your new one with the proceeds. That’s how it works in a normal market. However, we’re in the opposite of a normal market. These days, we need to start looking at houses before you list to make it more real and help you figure out if buying is something you’d want to do.
Then if we do find a home, that experience helps to move you through the process. At this point, we can talk to a lender, which lets you know what amount you qualify for. We may even be able to find a way to finance part of your purchase with the equity you have in your current home.
3. Sell your home to a hand-picked buyer. Listing your home is the easy part in this market. With multiple offers commonplace, chances are high that we’ll be able to find a buyer that allows you to work through the scenario you’re trying to achieve. Buyers are much more likely to agree to your terms when there are so many competing for just one property.
If you have any questions about buying, selling, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.