Should we start looking for a new home?

By
Real Estate Agent with RE/MAX Advantage

Often times, I'll be asked by my sellers how soon after they put their home on the market should they start looking for a new home.  Should I answer the seller's questions with another question: what would you do if you fell in love with another home? Should I suggest negotiating a bridge loan to allow them to buy their next home while their existing home is on the market? Or should I just say the best plan is to have the old home under contract before looking at others?

I'm curious what fellow agents are telling their sellers should this question come up. 

Posted by

 

Steve Prewitt
RE/MAX Advantage Realty, Inc.
ABR- Accredited Buyer's Representative
CDRS- Certified Distressed Resolution Specialist
CIAS- Certified Investor Agent Specialist
CLHMS- Certified Luxury Home Marketing Specialist
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Comments (1)

Carol Culkin
Diamond Partners Inc - Overland Park, KS
Overland Park Residential Real Estate
You got to satisfy their curiosity a little. I will encourage my sellers who are also buying to start out looking at a "few" homes and then to just look passively (online, open houses) since in this market there is uncertainty on how long it might take to sell. We usually start out looking at around 5 properties - just so they have an idea that they are in the right price range. However, if they have to adjust the price on the home they are selling then we need to revisit.   
Dec 13, 2007 07:54 AM