A common question of home owners in todays market cuts right through all the nonsense. Sellers that are relocating, and have to sell...seller's downsizing, or young families expanding...all ask the same question. We are considering purchasing a new home, but in this market is it wise to buy first, and then sell our home? Or is it wiser to get this home under contract and sold and then buy?
Since it is the seller's money, and not mine I tell them I am not psychic! I cannot predict what the market will be from one week to the next. I do tell the seller's it is their choice to make a decision as an adult. Since I am not privy to their finances it will be their decision. I do supply them with market stats. Statistics of listed homes that are available in their area, builder incentives on new homes, how many homes are pending sale, how many are selling, and try to compare it to a similar time frame. This is just a point of reference, but if sales are off 20% then that cuts through a lot of hype.
I always feel obligated to give the seller's as much information as they want to hear, but it is their decision to buy or sell, and their money. I cannot lose sight that I can only act for them as a agent. I also realize that if the sale of their home takes a lot longer, or will not sell at the listed price...that they will have the burden of multiple mortgages. I also have never made any guarantee of a sale either. It can be a very painful process if the seller's do not have all the facts in front of them! What are your thoughts?
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