I have to sell my home first before I can buy a new home.
This is the most common scenario. You may be interested in buying a new home and need to sell your current home to do so. We understand – you certainly don’t want two mortgages. Along with those two mortgages comes double home owners insurance, double utilities, and double upkeep.
“I have room in my basement but I’m pretty sure you don’t want to live with me.”
I have told people this for years and my husband asked me not to say it anymore. He says he is afraid someone will take me up on it! This is absolutely realistic in that you will need a place to live if your home sells and you do not have anywhere to live.
Inventory is still very low and it’s been this way for the last several years. This winter, however, experts predicted more homes will come on the market during the first quarter of 2023 with home owners listing and selling now instead of waiting until spring like home owners have done in the past. That didn’t exactly happen so we still have a shortage.
Listing and selling your home hits beats the typical spring rush. That’s when everybody’s houses are come on the market for sale and and most buyers are shopping. Listing now and securing a buyer also may give you an edge on potential higher interest rates for that buyer.
It’s a Closed Market.
Some people consider a buyer’s market a closed market, because there aren’t many homes available for sale. Consider if you list your home now you are essentially opening the market. You are helping to provide more homes on the market. People who wait until they find a home before they list theirs for sale are closing the market, contributing to keeping inventory low.
Open the market benefits you as a buyer.
What I mean is that securing a sale on your home gives you more buying power. In a competitive situation most sellers will not consider a contingent offer. If your offer is contingent upon listing your home and finding a buyer, chances are your offer will be thrown out. So what do we do?
Your home sale can be contingent upon you finding suitable housing. There are buyers who would understand if you have a home or two in mind that you would like to purchase. There are also buyers who are not rushed to purchase and may be willing to wait a reasonable amount of time to close on their new home.
Could this work for me?
If this sounds like something that could work for you or you would like more information about this or other strategies, contact us. We will have a better idea of how fast we estimate your home will sell and how soon we can help you find a suitable home to purchase.
Contact us
Call or text 231-730-8781, online at tuckerbenner.com or email tuckerbennerteam@gmail.com. We are happy to help.
