Should I Sell Now? | Monday Minute March 29, 2021

Right now in this current market as we close out March in 2021, we are experiencing quite the sellers market.  With an increase in buyer demands, our sellers are seeing multiple offers and getting top dollar for their homes - sometimes as much as 5-10% over list price!However, in the same way that there is large demand for their home, Sellers are concerned that that they will then be thrust into the same scenario in the next home that they are going to purchase, which is causing many sellers to delay in making the move altogether with the worry that they may have nowhere to move to after they sell.So let’s talk about a few options you have as a seller in this market to give you a little bit more time and flexibility to find that next home, that may not be on the market today.#1.  You could make the sale of your home contingent on finding the next home.  Whereas, you could accept a contract on your home, and like a buyer might have a contingency for a home inspection or financing, you would be contingent on actually being able to get a contract on your next home.  This way, you still have that ability to rescind a contract if you are unable to find your next home.#2.  You could extend the settlement date to be further out, giving yourself more time to be able to find your next home.  Buyers in this market are willing to be flexible with sellers as they know it’s in their best interest if they want their offer to be selected.#3. You could rent or lease back your home after settlement, to give yourself the extra time to find the next home.This option not only gives you the extra time to search, it also frees up your cash and enables you to be a stronger buyer vs any competition on the next home.#4. You could plan to rent for a period of time.With a lot of people moving to brand new areas, especially with many people now able to work virtually from home, this might be a great excuse to bank your profits for a year or so while you get to know a new town.  And when moving somewhere new, it can be nice to be able to take your time finding your next home to make sure you find the right areas that fit your lifestyle.  This also gives you the advantage to possibly wait out this sellers market, and be able to make that purchase during a time when homes sales have calmed down.  Basically, you CAN have your cake and eat it. If you have any questions about the selling process, give us a call today.  We look forward to helping you!