Selling then Buying Real Estate Requires Some Careful Planning

122My goal when selling your home is to get the absolute highest price, in the shortest period of time with no legal issues before, during or after close of escrow, so you can go on with your life. You found a buyer for your home, the paperwork followed, escrow was opened and the closing occurred. Sometimes it’s all more involved than it sounds.What’t next? The Purchase Agreement.The Purchase Agreement details must be considered. Depending on the current market, you’ll first find a buyer for your current home and then locate your next home or locate your next home and then find a buyer for your current home. Or maybe sell your home and stay somewhere short term while you locate your next place. I feel if you have this last option it’s the best option because with time on your side you’re typically able to negotiate the best deal. All methods sound simple, but all require careful Contract planning. Becoming familiar with the type of home you want to buy and the neighborhoods you want to buy in is also important.

In a brisk seller’s market, the best option may be to locate your next home, get in contract and make that contract contingent upon closing escrow on your current home. This means you can’t be forced to buy your next home until you have closed escrow on you current home. In a perfect world this may not be a problem, but if the market is brisk, sellers may be less likely to accept your “contingent on your home selling” offer. Why? Better offers, such as all cash offers, large down payment offers or non-contingent offers, to name a few. I will help you decide which option is best and how to structure and respond to the buyers purchase agreement details.

Escrow

Escrow is going fine and then there’s a hick-up. Unfortunately it’s not all too uncommon for a deal to fall apart near the 12th hour. It’s also not all too uncommon for a deal to come back from the dead. Once the home passes all inspections and close of escrow is nearing some deal killer events can occur. The buyer lost their job, the buyer’s source of down payment funds changed, a new buyer debt came up the day before closing or the seller can’t move because their next home has not closed escrow. These are just a few.

It’s my job to forecast and head off unforeseen events and/or quickly manage a fix for problems which arise before, during or after the escrow period. I pride myself on a very high closing success rate. My experience in the mortgage and real estate industry helps hold deals together and close escrow on time.

Selling your home? Let’s plan the details today. Call, text or email me anytime