If you currently own a home in Phoenix or the surrounding area and you’re thinking of making an upgrade, you might be wondering whether or not you should sell your existing home first or move now and try to sell your home later. In this post we’ll share a couple of helpful tips on how to bridge the gap between buying and moving into a new home, and selling your old one.
Selling at the Right Time
The easiest way to bridge this gap is to ensure that it’s as short as possible – and that means selling your home at the best possible time. The market here in Greater Phoenix is most active during the summer months, with autumn and spring busy as well. The winter is the slowest period, so if you want to sell quickly this might not be the best possible time. Weigh your options, and if you need some advice call our offices and we’ll assist.
Ask Your Potential Buyers About Their Plans
Selling a home is a major financial transaction, and due diligence is required by both parties in the sale to ensure that it’s a fair deal. Be sure to ask potential buyers about their plans – when do they intend to close and move in? What is their urgency level like? Do they have financing lined up yet? As the one selling the property, you need to be able to accurately assess which potential buyers are serious and which aren’t. Don’t be afraid to ask the tough questions as the process moves along.
Be Ready to Sweeten the Pot
If you feel that you have a buyer secured but they’re dragging their feet in the negotiation or closing process, consider offering some form of additional incentive to move things along. Tossing in items that you won’t need in your new home – appliances, furniture and the like – is one way to get your buyers to close quicker. Another is to offer them some sort of gift; for example, if you discover that your buyer likes hockey, try tossing in a pack of tickets to Coyotes home games for the upcoming season. Closing incentives can be an excellent motivator if used correctly.
Consider Taking on Tenants
When it looks like you may have a few months or more between moving out of your home and finalizing its sale, you can consider renting to tenants on a short-term basis. While this has its upsides – you can make a bit of income from your old home – it comes with numerous risks to the property and the chances of a successful sale if things go wrong. If you can find the right tenants this is an opportunity worth exploring.
Without question, the best way to shorten the gap between buying a new home and selling your old one is to work with a professional real estate agent that can get your house or condo sold quickly. Contact the Daniel Montez Real Estate Group today at (480) 269-6060 – we’ll be happy to consult with you on your home sale and share how long we expect the sales process to take. Thanks for visiting and we look forward to working with you!