You want to sell your home, but you are terrified of selling and being able to find another one. Don’t worry. Here are 4 solutions you can use to sell your home now in the hot Spring market and avoid being homeless as a result.
1. Airbnb or Hotel
At any given time, there are literally hundreds of rooms available in hotels around Edmonton and dozens of opportunities on the Air Bnb website available for a few days, a few weeks or a few months. You sell your home, move out and start shopping. Move out when you move in.
2. Sale & Leaseback
Don’t want to move twice if you can help it? Then consider this option. Your REALTOR® will find a buyer that is willing to wait for the home. The buyer pays you now and assumes ownership. You sign a short-term lease for perhaps 2 to 6 months until you find your dream home. The benefit to the buyer is that they secure their next home at today’s price. The benefit to you is that you have your equity sitting in the bank and you can shop for a home with confidence. I wrote about this option some time back. Here is a link: Sale & Leaseback for Sellers
3. A Long Possession Date
Think that option 2 is not for you? Then simply offer a longer possession date i.e., 90 to 120 days. You instruct your REALTOR® to identify a buyer who is willing to wait because they love your home. The downside to this option is the pool of buyers might be smaller and there is risk. Sometimes your buyer might keep shopping for a home, find another home they like more and back out at the last minute. A court case could be lengthy and costly.
4. Sell Subject to Finding a Home
We don’t see this option used very often but its worth consideration. Essentially your REALTOR® will set up a contract with a buyer and introduces a clause providing you with a certain period of time to find a new home. The benefit to you is that you know the terms, possession and price achieved for the sale of your home. This is how it works. Your REALTOR® will negotiate a certain period of time to find your next home, 30 days for example. If you cannot find a new home, then this clause allows you to back out.
About the author:
You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.
Our FIXED FEE home selling program gives clients proven results & affordability. To learn more call our Broker Owner & Team Lead Stuart Neal at: 780-760-2014 or visit our program page www.FlatFeeRealtyAdvisors.ca
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