It’s safe to say many homeowners today are operating by the expression, “A bird in the hand is better than two in the bush.”
In other words, they’re content having a place to call “home” during these crazy times even if they’d prefer to move somewhere else.
With so much being made of the low-inventory real estate market, plus a pandemic, many are choosing to delay their moves instead of taking their chances and potentially having nowhere to move after they sell.
The problem is… you don’t know it. So you’re playing it safe.
The key to navigate this challenging market and be able to successfully obtain the results you expect is knowing and having the confidence that you have options.
Here are six options that will make you realize you’re “in the driver’s seat”.
Option No. 1: Rent Back/Lease Back
Some of today’s buyers are willing to make extraordinary sacrifices in order to get the home they desire.
One such option is to negotiate the ability to rent or lease the property back in order to provide you with the sufficient time to find and purchase a new home after your sale closes.
This is standard practice throughout the industry, but many consumers might not be aware of this possibility.
Option No. 2: Extend the Closing Date
Another option available to homeowners is to simply extend the closing date to allow valuable “search time” for their new house.
Today’s buyers are flexible. This a viable option to keep a roof over their heads while you find your next home.
Option No. 3: Make the Sale Contingent on Finding a Home
There’s no reason you can’t write into the contract that it only goes through “if and when” the seller finds a new home, gets that purchase under contract, and closes successfully.
Option No. 4: Rent a Short Term Property
Another option is capitalizing with the availability of vacation rental properties and/or rental communities in your market by using them as short-term, interim homes to put you in an advantageous position.
That way, you can sell your home free and clear and then be in a power position and ready to pounce when you find the right property for their next home.
Option No. 5: Have Confidence in Your Realtor
Be sure to partner with an professional agent that has unique and creative ways to help you find your dream home.
We study the MLS daily, talk to your sphere regularly, speak to other agents, and often get early access to off-market properties. We also use other marketing tactics such as the “Yikes” letters, text messages, social media ads or a voicemail variation.
Option No. 6: You Can Always Say No!
One alternative homeowners often overlook is this “worst-case scenario” option – You can always turn down any offer and decide to stay put if things don’t work out. You are in control throughout the process.
It is important to know that if you decide to put your house on the market, you are always in control throughout the entire process.