You have officially decided, I’m going to make a move. My current home is not going to do it. I want to make a move and in 2021. What do you have to do first, sell or buy? This goes back to the age old question of, what comes first, the chicken or the egg? What I’m going to tell you is, it’s actually a little clearer than it may be in your mind right now. If you find yourself in a position where you can buy a new home without financially having to sell your old home, this video is not for you. You don’t need to worry about this, but if you’re in a financial scenario where you need to sell in order to buy, we’re going to dig into what the ramifications are and what the best strategy is to move forward.
In 2021 in Southwest Florida, it is a hot market. Meaning, properties are moving very fast with limited inventory. If you’re looking to make a move, you’re probably wondering, is what I want going to be available out there. If you find that property and you’re ready to go buy with the seller, consider taking your offer, if you still have to sell your home. We are going to talk through those options and understand why we’re going to give you the best way to move forward. The challenge with that philosophy in an active market like we have right now; the chances are that there’s other people who will also fall in love with that new home that came on the market. Chances are that some of those people who are interested in that property will not have to sell their home in order to buy. If you make an offer over to that seller of the property that you have interest in, it’s not going to look quite as good as somebody else who has no contingency in place from that perspective. What we’ve seen happen time and time again, is that the seller will reject the offer. There’s an emotional component to all of this, you’re very upset because you missed out on the dream property.
If the seller of that property has multiple offers in place, which would you choose? If you’re selling your home, what would you do? And chances are, you would go with the offer that has less contingencies in place. So what do we do then? You can list your home for sale and work on getting a contract. And I can see it right now; I see in your head, the question is, well Brad, what if we don’t find a place or what if one is not available and our house is sold, will we be homeless? No, we’re going to work through all of that. We will make sure that you wouldn’t be homeless, but we’ve got to put you in a good position that you’re going to be ready for when that next home does come along.
There are instances where we can actually close on your home. You get the cash out of the sale, and then maybe we could negotiate what’s called a lease back. You can lease the property back from the buyer, that way you stay in your property, you have your cash. That way you wouldn’t even need to put a sale contingency in place on your purchase. In order for this strategy to work, we have to have confidence that there is something out there for you. A really important key is having a great agent or a great team on your side, who is going to be aggressive about finding your new home.
If we just sit back and wait for what comes on the market, that’s a passive way of finding real estate. It’s not an overly successful way of finding real estate, especially in a constrained market. What we’re able to do through our tools, systems and aggressive approach to make things happen, is actually find properties, find off market properties for you. We have an internal list of off-market properties. We also have the ability to call, mail and several other strategies for certain geographic locations and certain homes that meet your criteria. We have been very fortunate to be able to put a lot of people together, buyers and sellers of off-market properties to help in this situation. Let’s say that you sell your home; we get an extended, closing, or we get a lease back and we have 90 days worth of time, which is plenty of time to find the new property and as we go along, nothing new comes on the market, that’s okay. We’re going to be working aggressively from day one to find properties for you. We are continuing to have a lot of success with this strategy. It has worked exceptionally well in this market. That’s really the best way to move forward in 2021, in the sellers market, as we need to have confidence on both sides. It’s important to make the decision to have a conversation to talk about strategy. Does it make sense for you to move? We would sit down, take a look at your current mortgage, what kind of equity you’d be able to pull out of your property, timing on everything and do a market analysis so it makes sense. The first step is to have that conversation and that overall analysis and then you get to make the right decision for you at the end of the day. That’s what it’s all about, helping you achieve your goals.
Brad Dohack | Brad.HomeSearchinSWFLorida.com | 239-839-1168