In the turmoil of excitement about preparing a home for sale, pricing it right, scheduling showings, getting that anticipated offer, negotiating the right price, comparing bottom line and payoffs/expenses, making it through the inspections, then negotiating and/or making any necessary repairs.... There can be a lot to think about when making a move. Whether you are building new or buying another pre-owned home, the planning of your move is something to think through. It takes energy to get out looking at properties or planning a new home when a perspective buyer is looking at yours!
After a decade of helping people buy and sell homes, I am noticing that many clients just are not thinking through the timing of the final steps and sometimes other agents are not. When you sell a home and buy another, there must be some time in between to move in. With all of the details in financing and steps to closing, it is certainly understandable these details can get overlooked.
If the home you are buying is not vacant, or you have not moved out of your home while it is for sale, there needs to be some time in between for a move. Once upon a time that was 30 days. Due to insurance and liability issues and nightmare possession stories, home owners are fortunate to get 2 to 7 days to move after closing.
What that means is in a contract it must be specified closing is on this day and possession is on that day and time. If you need the equity in your home to purchase the next, you can quite possibly close both homes on the same day within hours of one another. To explain further, say you are selling your home that you are living in, and buying another that the seller is living in.
As an example, you say you are closing on your current home on the 23rd of the month and on your next home the same day. The best case is to give your new owners possession on the 30th (7 days) and see if you can get possession on your new home by the 26th (3 days). This gives the sellers time to move out of your home, you time to move your things in and give your old home a good cleaning for the new owners.
In reality, it should not take you more than 2 days to move your things if you are moving within a 50 mile radius. Most people move in a day, or about 2-4 truckloads with help from friends or family. If you hire a mover, it's just a day, but can cost quite a bit more even if you have to rent a truck or a POD style storage unit(s).
It all seems pretty simple, but for whatever reason, can turn into a huge source of stress for people when they forget to think it through. I cannot tell you how many times people have called me in a panic, sometimes 6-8 weeks before their move. It's as if they did not anticipate the hassle that moving is? Maybe that's like a pregnant lady who does not think through the fact that the delivery of her baby is a painful process. But the sure thing after all of the steps, most definitely worth the inconvenience, pain, and hassle.
With the market the way it is now, it's not unusual for a good property that is priced right to sell faster than an owner ever dreamed. When building a new home, this may mean temporary housing for a few months whether that be an apartment or moving with family. When I meet with clients selling, that is always one of my first questions. "Where will you go?" Many of see that as a good problem to have.
The only true way to avoid this detail is if you are able to purchase your next home before selling your current home. Not all people can qualify for this, but some do. Then the risk is having trouble selling your current home and having two mortgage payments to make. More sellers are housing this option as the market is recovering. This eliminates the,from possibly feeling rushed to buy a home they don't like.
So I never, ever, push someone to consider moving if they hate moving or do not want to. I get that. It takes commitment and motivation from me and my clients to make it all happen. To make the journey to a new and better place there is no shortcut and it is a big decision. Perhaps the consumer of today either watches too much TV or does not think through their goals to the end. If you hire me to help you meet that goal, you can depend on the fact I will coach you through all of the important details. Together we must be motivated to make your plan a reality! Thanks for reading.
Vicki (Owens) Workman is certified as an ABR, CRS, GRI, E-Pro and SFR, all recognized by the National Association of Realtors. Highly trained and with experience helping hundreds of clients in the last decade buy and sell homes in Marysville and surrounding northwest quadrant areas of central Ohio. Feel free to email Vicki at firstname.lastname@example.org or call/text to 614-440-5174 with your real estate questions. Visit her site vickiworkmanteam.com or movetomarysville.com for more information about her team, career and work.