Thinking of Selling Your Home but Worried About Finding a New Home in this Hot Market?
If you want to work with the market, you first have to understand it. According to the latest MLS statistics from
April 2021, single family homes in all 7 cities throughout Hampton Roads have
sold for over the list price! This means that there is less negotiation on price, and more
competition and limited inventory are driving prices up even higher. The market is on the extreme side of favoring
sellers for now, but market extremes don’t last and as a seller you can use the
current environment to your advantage to help you both sell and buy.
Here’s how:
- Give yourself the time to move. If you know when you’d like to move make this known in the listing so buyers can see your
preferred settlement date.
- If you are actively looking, make the closing date contingent on your
finding the home of your choice.
- Negotiate a seller rent back from the buyer and rent back for a month
or two if needed. You may also be able to negotiate a free rent back
depending on how strong the market is in your neighborhood.
- If you get a great offer and the buyer really needs possession of the
house a little sooner than you anticipated and that would still work for you, negotiate
for buyer to cover a portion of your moving expenses.
- If you are able, put your belongings in storage and consider a short
term rental, staying with family or friends, or house sitting if that
option is available to you
- If you are fortunate enough to be able to purchase without selling your current home, this is a great position to be in since you can buy your new home and then put your old home on the market.
As a seller, you have
options and can craft the sale of your home to work to your advantage. If you’ve been thinking of selling and would
like more information, see my free 2021 Home Selling Guide. And if your curious about home sales in your
area and what your home could sell for, visit: https://rem.ax/HomeWorth
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