Don’t get stuck with two homes

You got a new job across town; you’re having a baby in a few months; your kids have all graduated and gone to college so you’re looking to downsize. Bottomline: you’re ready to move on. These are all possible reasons for you to consider selling your home and buying a new one, whether it’s bigger, smaller, in a new city or even a new country.

When you first start looking for a new home, you must decide on a price range that will fit your budget. It’s easy to look for a home with all the features that your current house lacks, but it is first and foremost about affordability. Many people depend on the sale of their current home to go towards the purchase of the new home. This is generally a safe bet because you or a market professional can provide an educated guess on the price of your home based on the size, location, surrounding amenities and the housing market. However, here’s where the tough part comes in.

You’ve found the perfect house to buy, but your current home still hasn’t sold. Or vice versa, your current home has sold but you haven’t found that dream kitchen yet. This is a problem that many homeowners’ and home sellers’ face. You either get stuck with two homes or you are homeless – tough place to be in! But, there are now real estate agents that can assist you when a situation like this arises.

Instead of taking on the risk of two homes or no home, a new program now actually allows agents to guarantee the sale of your current home so that you know the exact minimum amount of money you will receive for the sale. You might think this sounds crazy but here’s how it works. The agent will provide a total market analysis for your current property. Everything will be assessed and compared to other similar homes in your neighbourhood so that a market value can be determined for your property. Once this is decided upon, the agent will guarantee you this amount of money if your home doesn’t sell in the predetermined amount of time. However, if in the meantime a prospective buyer offers you more than the market value of the house, you can, and most likely will, choose the higher offer.

Not a bad deal, right? Using this method to sell your home allows you a stress-free sale process so that you know exactly how much you can afford to spend on your new home. This will allow you to spend more time searching for your dream house and less time worrying about the price tag. Keep in mind that this process is not offered by all agents, and not all agents will offer you the same plan. Therefore, ensure that you do your research on different companies and what they can offer you before choosing this route to sell your home.

 

Tags: , , , , , , , ,