With low inventory in many markets throughout the country, many homeowners are afraid to sell their homes because they’re concerned that they may not be able to find a new one. This can be a real problem, but if you are seeking to sell—whether to upgrade or find a new neighborhood—there are a few ways to combat the low inventory.
Look to buy first In most markets it is a real mistake to put your home up for sale before you start looking for your new property. Identify the geographic area where you are interested in buying. Even if you don't see anything on Zillow, it doesn't mean you can't or won't find the right home.
Think outside the box Be proactive! Keep in mind that there are probably many people like you who want to make a move but are afraid as well. Have your real estate agent send a letter to the neighborhoods in the geographic areas where you want to live. The letter should be heartfelt and personal while announcing that you are ready to buy a home in that neighborhood. You could find a home to buy that may not even be currently listed or for sale.
Protect yourself legally Each state varies in how the purchase process is conducted. Talk to your real estate professional about adding a clause in the purchase contract for the home you are selling that will enable you to not sell the home if you cannot find a suitable home to buy.
3/23/2016 12:38:22 pm
I am so glad my husband and I made the decision to buy a home! It was extremely scary at times and I got very discouraged at times but you guys did an amazing job at keeping the momentum going and finding us the perfect house!! Thank you Jessica and VH Brokers for all your hard work and commitment to finding us the perfect home for us!
4/21/2016 03:21:18 pm
Kaitlyn, I am so happy that you and Michael found a home just in time for the new baby! Inventory has been low and this is one of the reasons I made a change to offer flat fee listings, to save home sellers thousands at closing. I hope this will help the inventory shortage. On a positive note you and Michael found the perfect home to start your new family! So happy I could help and be apart of it!
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