What happens when you put your house on the market and it sells faster than expected?
For a few years now, that’s not been a huge problem for most Home Sellers . . . but here in Middle TN, the inventory has dwindled, and there’s a reasonable amount of “pent up demand” in some areas and price points.
Buyers are lurking in the shadows waiting for that NEW LISTING to appear that meets their needs . . . and when it shows up, they POUNCE.
Most of these kinds of Buyers can move quickly – pre-approved – No house to sell – and wanting to move in 30 days.
So . . . Sellers! If you’re putting your house on the market, be ready to MOVE.
A few ways to skin this cat:
- Identify a MINIMUM of 3 houses on the market that would be available for a fast closing and possession
- Ask your Buyers for “Seller Possession After Closing” with an agreement for a per diem rent based on the Buyer’s mortgage payment to give you time to identify and close on another house
- Pre-arrange an “interim move” to an apartment, in with friend or family, furnished “Extended Stay Hotel” . . . and store all furniture.
Of these 3, the first and second options are preferable because they do not require the equivalence of TWO moves in a short period of time (as does the interim move).
So why would anyone want to subject themselves to the double move interim move?
I say that it’s the BUYING end of things that matters most. It stands to reason that a home owner has a REASON for selling a house and buying another . . . and that reason often involves change of life-style, new neighborhood . . . it’s a move FORWARD in their life.
Odds are also good that the next house is one they’d like to roost in for a while . . . so . . . it would behoove them to get this part RIGHT.
the Inconvenience of An interim move is a lesser evil than rushing to buy just any old house out there (which is akin to throwing the baby out with the bathwater) . . . Why compromise your plan for such an important move simply because you were caught unawares by the fast sale of your house?
The Interim move is a WORTHY inconvenience because it gives folks the time and space to do the purchase end of things RIGHT.
As your real estate Sales Professional, I always begin every client relationship with making sure we have a clear end in mind . . . What’s our purpose – our GOALS and Aspirations relating to this desire to sell the current home?
Once we know those, we then know the “standards” and can move through this process with resolute purpose.
Don’t do this process willy-nilly . . . EVER!
Contact us at Pareto Realty, and let’s do some dreaming together . . .