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14 Comments on Which Comes First -- Listing or Buying?
There seems to be a lot of question about the answer to listing or buying first. So many factors come into each situation that I think it depends a lot on circumstances.
Betty
A lot of great thinking points-- thank you for sharing.
Betty -- I agree that it depends on the circumstances. It's been my experience, though, that's it's usually better (in our market) that the seller have their house listed before they write an offer (unless they won't be including a home sale contingency.)
Rhonda -- Thank you, Rhonda!
Peggy, this is a great comparison - and helps move up (or down) seller to see which comes first? Chicken or Egg?....lol
It always helps to fomulate a game plan based on time-frames of their individual needs I think your pro & con list is a helpful tool. Nicely done!
Praful -- Ha! That's true -- the chicken or the egg. Never thought of that! :)
Allison -- You definitely have to make variances based on timeline and individual circumstances.
Peggy-That's a nice decision matrix. I've generally suggested list first, and start looking for your next house, but do not offer until your house is under contract. Our inventory is such there are way more homes available than buyers.
Wayne -- I completely agree. In our current market, too, I really think that's the best thing a seller can do.
As pointed out above, an EXCELLENT chart! I, too, suggest Listing first as the average time on the Market here is around 6 months, and most people can find a new place much quicker than that.
Travis -- Thank you. Our market seems to be pretty similar to yours!
Good information for home buyers and home sellers. Sometimes the practical solutions are not the best solutions.
Have an outstanding week.
Purple Passion Flower and Bees. Life is good!
As an Exclusive Buyer's Agent I have found that a buyer is in a much better position to negotiate a purchase if they have their current home sold, or under contract. I have negotiated several of these and find the pressure is on the new seller to accept an offer fast as the buyer has to move soon. As a rule, and there are always exceptions, my buyer has a second home if the first doesn't come through. The last one was a buyer that needed to move in 30 days, period. That forced the seller to decide whether to accept a lower offer than they wanted or the buyer move to another home. It is always about negotiating, never give anything away, even if it is to your advantage. Of course, this only works in a buyers market. And that's another blog.
Peggy....it depends on the market....right now, it's a seller's market here....there is a demand for fresh inventory.... no one will take a contingency....seller's don't need to..... buyers need to be prepared to buy and close....if they can't find the right house it may mean two moves....