Buy First and Sell Your Current Home for Top Dollar
Updated: May 2
When the housing market favors buyers over sellers, it is much easier to buy and sell a home simultaneously. You list your home for sale, accept the best offer, go into escrow, shop for a new home, and buy your new home home contingent on your current home sale closing. A contingency is anything that lets a buyer out of the deal before escrow closes. Sellers in a hot real estate market generally don't have to accept offers with contingencies like that. And we still have a hot market in the San Gabriel Valley.
If you want to sell right now, with a great agent, you will probably get multiple offers, and can probably sell with few or no contingencies. Home sellers are seeing a great market to sell - but they need a place to live! Sellers who want to relocate or move into a home more ideal for their family's current needs - face a challenge in today's market when they hope to buy first.
It's hard to win an offer to buy contingent on your home sale closing first. Many home owners feel stuck. Unless they have enough cash on hand for the new home's down payment, closing costs, and can carry two mortgage payments while the current home sells after the move, it's harder to make a move right now. Many struggle with the logistics of moving first into a short term solution like a hotel, short term rental, or a stay with relatives. Moving first gives sellers the benefit of staging and preparing their home to sell for top dollar in the current market. But moving is expensive. And selling first usually requires two moves! And what if you sell and then don't find a home you like better, or in your price range?
As your agent, I hear your problems and I help find ways to create win-win solutions for your family. That's why I recently became a Knock Certified Agent. Knock is a company that can help home sellers buy their new home first, fix up their current home, and cover the carrying costs while your old house is staged, prepped and sold. Check out this video for more details. Then text or call me today so I can help get you in the Knock Home Swap program. 626-755-0636.