There’s no question that buying or selling a home is stressful, even when things go really well. And when they don’t, the tension level rises and the emotions can run rampant.
Sometimes it’s easy to forget about your goal – selling your home and moving, perhaps to a new home, or buying the home that meets your needs and budget in a place you want to be. Maybe the goal is relocating to be near family, for a different climate, or maybe due to health issues.
The reality is buyers and sellers can lose focus on their goal - getting to the closing table so they can move on – because of all the other stuff that gets in the way: unexpected problems that arise, delays in the transaction, the sheer volume of decisions that have to be made, lots of paperwork, packing to move, daily life, and the list goes on.
These days buyers are facing challenges that are particularly tough, and unprecedented in many housing markets. You are confronted with very tight inventory, limited time to get in and tour homes you like, and knowing, hopefully, you have to make a decision and submit a strong offer right away, perhaps within hours.
Then there’s the reality you are competing against multiple buyers for every home that you like, and many of whom are willing to pay over the asking price, waive the appraisal, and offer other terms and conditions that favor the seller, in order to become the winning offer.
Your offer is likely to be one of possibly a couple dozen depending on your market and the house!
A well-dressed offer is essential in today’s frenzied housing market. But there are other important terms and conditions to possibly consider as well when crafting a winning offer that may really matter to the seller and give you the leg-up.
Be sure to consult your Realtor for guidance, given current market conditions and the competition.
Unfortunately, because of the competition the sad truth is that most buyers will face multiple offers being rejected before they are successful. While you might have been told that could happen, the reality is painful and frustrating, and more so when it happens more than once.
Keeping your eye on the goal of getting the right house is key so you don’t get too frustrated if you experience 1 or more failures. Learn from you can from those failures…is there something more you could do next time?
In this very busy market sellers face challenges, too!
You can probably expect dozens of buyers wanting to see your home in a rather short period of time, which means keeping it in showing condition at all times but also being out of your home for possibly many hours a day for multiple days.
Although it may be a major disruption to your normal life – working remotely, maybe there are kids and you are Zoom-schooling, packing and preparing to move – showings are a good thing if you want to sell your house. It’s worth it, right? Bear in mind that this frantic activity, too, shall pass, so keep your eye on the goal of getting a great offer and closing so you can move on with your life, whatever that means.
The other major hurdle? If you’re planning to buy a new home after you sell your current one…or if you financially can buy one while selling the one you’re in…either nearby or out of the area, you are facing the same challenges mentioned above for buyers.
So in addition to selling your home you need to find a new one in a very competitive market…and if you are relocating there are additional challenges including packing, getting rid of stuff you no longer want or need, and perhaps finding a temporary place to live before buying the new home. Again, keep your eye on your ultimate goal and don’t let the daily issues and possible frustrations distract you too much!
If you are considering buying or selling and I can help you keep focused on your goal, along with answering any questions, and discussing your specific housing needs and budget, please reach out to me at (760) 840-1360.