should I buy a home before selling
Another satisfied Land Park seller closed escrow last week. The incredible thing was we didn’t even have his house listed when we helped him to buy a new home contingent on his existing home closing concurrently. Sometimes we can pull off that remarkable type of sale. How we do it when other agents cannot is an interesting story.
For starters, I’m not saying this will work 100% of the time but usually it does. First, it helps to have a desirable home to sell, and it doesn’t get much better than owning a vintage home on a fabulous street. Second, if the listing agent of the home the seller wants to buy knows me, well, they know I will sell that home, whether it’s on the market right now or not. I will find a way to sell the seller’s home because that’s what my reputation is built upon. In other words, we sell the listing agent being Elizabeth Weintraub to the other agent.
For some lucky sellers, it is definitely possible to pursue buying a home before selling a house in Sacramento. How one goes about this depends on basically two things: the type of real estate market you’re in and your financial ratios. At the moment, we are experiencing a strong seller’s market in Sacramento. This means sellers are in the driver’s seat. We have low inventory and high numbers of buyers. It’s the principle of supply and demand at work.
Sure, we have buyers who say, my house is so beautiful, it will sell right away, so why can’t I look at buying home before selling? As Sacramento Realtors, we have to bring these buyers into reality. Move them outside of their own situation and get them to look at this through the eyes of the seller. I say to them: Ok, pretend YOU are the seller of this house and YOU have 5 offers. Four of those offers are from buyers who don’t have a house a sell, they have no contingencies. They can get a loan and close right away. And then there is YOU. You who have not even put your home on the market, and you who wants the seller to wait while you get around to it.