The Home Sellers Catch-22
If you own a home in Northern Colorado, you’re probably at least somewhat aware that this is a great time to sell your home. You’ve heard your neighbors and friends telling stories of multiple offers, bidding wars, and sellers receiving offers over list price. All this talk has got you thinking that you might just be interested in selling your own home….but there’s just one problem. You’re not sure you’ll have anywhere to go when you do sell.
An Experienced Agent Can Help
This is the Catch-22 for home sellers in Northern Colorado right now. The best way to increase your odds of putting together a deal that will allow you to sell and buy at the same time is to find an experienced agent to help you navigate all the moving parts. Below are a few options you might ask your agent about if you’re in this situation.
Buy a New Home
Often with new construction, builders have more flexibility when it comes to helping you make this transition. They may be able to offer you options that you won’t find when purchasing an existing-home. You’ll also get the unique benefits of moving into a brand new home just the way you want it.
Ask for a Lease-Back
This is becoming more common in our current market. It’s important to remember as a buyer that the purchase price isn’t always the only thing that will make or break a deal. Many buyer’s are offering sellers the ability to close on the sale and then lease the property back for a period of 30 to 60 days (even longer in some cases) to allow them time to find a replacement property.
Require a Contingency
If you have to be absolutely certain that you can find a suitable replacement property, you can always require that the potential buyer provides you with a contingency making the contract dependent on you as the seller finding a new home.
It’s Not Impossible
The option you choose will depend on your personal situation and also the uniqueness of the next property you’re searching for. Remember, as with any deal, everything is negotiable. Just because it’s not common to do something a certain way doesn’t mean it can’t be done. It’s important to try to find a win-win for both the buyer and seller and you might be surprised by some of the ways this can be accomplished in our current market with low-inventory.