BUY OR SELL FIRST???
That is the question…
ANSWER: It depends on what is important to you!
- Is time on market MOST important? (Speed & efficiency)
- Is the timing of the sale MOST important to you?(When)
- Is stress MOST important? (Minimal)
- Is certainty of outcome MOST important? (Results)
- Is finding the perfect house first before selling MOST important to you? (Destination sorted)
- Is highest selling price MOST important? (Financial)
- Is being in the best position to negotiate on the purchase MOST important to you? (Control and power)
SUBJECT TO SALE: It would be perhaps the most misunderstood aspect of buying a home in today’s market!
>>There are a lot of subject sales, for sure AND I am well aware of the arguments for them.
- What if I am sold and have nowhere to go?
While some agents will not tell you this…
- Many Sellers do not regard a subject sale offer as a REAL offer…
- It is perhaps a “maybe” offer…
Typically, the more “subject to’s” on an offer, the weaker the offer.
SUBJECT SALE does NOT mean you cannot Buy.
- It just means the Seller does not have as much certainty
- So could be less excited about your offer
- & you won’t be in the same position to negotiate terms
ESPECIALLY IN THIS MARKET;
- Where days on market have in many instances blown out to 3-5 months to sell (or more)
A subject to sale may mean a long wait for the Seller before they can actually move on.
- This usually means you will pay more, and have less bargaining power
- The difference could be anywhere between 5-10% more in the changeover for a subject sale
I still think the best way to buy a home is this (In almost all instances).
- Sell first, go to market
- In this way you know what your home is REALLY worth
- Not what an agent says, or how much you think or hope it is worth
- Also you always BUY better when you offer more certainty to the seller
ACTUALLY– you are in less stress, as if you don’t sell, you can stay in your home!
- Make sure (Request) a longer settlement or a rent back clause if required
- A good agent can you negotiate this for you (Protect you)
To make sure you have time to find the right home.
- Given stock is generally slower to sell overall than in previous years
- & stock levels are expected to be rising for Spring 2019 onwards
- The problem is not going to be finding a home
- It is more about finding a buyer to get yours sold (The right buyer)
I am happy to explain in detail;
- How you can move ONCE!
- & do it with maximum return and minimum stress
I do this all the time…
Drop me a line and I can explain how we can do it!
As always I am committed to delighting my clients.
If and when you are ready, I am keen to help you get moving.