I've been working with a couple that wants to purchase one of my listings. The husband has already moved to the area and has been doing the house hunting. The wife and remainder of the family is still out of state residing in their home that is currently on the market. The husband is in a month-to-month rental currently.
The husband flew his wife out last weekend to view the home and they fell in love with it. They want to buy it and the sellers have already taken ownership of their new home.
The catch? The buyers can't close title until they sell their out of state home.
The solution? Since the husband was already paying rent (at his employers expense) we suggested that he rent the listing until they sell their current home. This affords the sellers income to offset their dual mortgages, allows the buyers to begin the move-in process, and eliminates much of the concern with regard to the sales contingency.
It now looks like its a go as the employer and the attorneys are signing off on everything.
In this declining market, thoughtful and creative ways to structure deals will allow both buyers and sellers to benefit. Remember, thinking outside the box may help you reach you end results much more quickly and create many raving fans of your services!
Have a Productive Day,
Scott
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