Happy Lexington KY Home Owners Solve Sell/Buy Dilemma

More Happy Lexington KY Home Owners who have worked through the often complicated sell/buy dilemna successfully with ‘Z’.  The sell/buy scenario is one of the most difficult situations to solve. The dilemna most homeowners find them selves in is that they don’t want to sell without knowing where they are moving to, yet most cannot afford to own two homes at once.

Some of the option scenarios include: (1) Make an offer on a home “contingent upon the sale” of the home owner’s current property, (2) get a “bridge loan” fromt he lender to cover the second home’s mortgage until the first home sells (these have pretty much disappeared in recent times, or (3) do some preliminary home research to see if there is likely something to purchase when their home sells, then put their current home on the market at an aggressive price, make all the necessary repairs in advance, and negotiate for a slightly longer closing when the new Buyer surfaces.

The last of these scenarios is typically the most workable. By negotiating for a slightly longer closing time when selling your current home, the home owners are then able to go out and narrow down the field of those homes which they have already previewed prior to putting their current home on the market.

With good coordination of the two contracts, a seasoned Realtor can help to time the closings, as was the case with these clients, so that they can have “back to back” closings and only move once. Sounds simple, right? Not in this market! If you don’t already have a seasoned Realtor, then ‘Z’ is happy to help!