Here’s how we’re protecting our clients in this wild market of ours.
With this market being so hot and houses selling so quickly, for so much money and with so few protections, it brings a lot of fear for both the sellers and the buyers. We’ve done a lot of things over the last few months to cool that down for all of our clients—there’s a lot of worry on both sides. Many sellers are concerned that they’re either going to be left homeless, or that in order to complete a transaction they’re going to have to do a whole lot of repairs that may not be necessary.
For one of our sellers right now, we actually had a buyer who was looking for just their home. I’ve been talking to this couple for a while, so we gave my sellers a really long closing date that they could shorten up at any time. And sure enough, they were able to use that secure sale to get into their next house more easily. They they were able to wrap up our sale more quickly than they had expected.
On the buying side, we have a lot of buyers who are being asked to waive inspections, waive financing, waive their title contingency (most people don’t even know what a title contingency is or why they would even want to waive it; I do know what it is, and I still don’t know why anyone would want to waive that). But the bottom line is that not every buyer is ready to jump in, throw caution to the wind and throw everything into just getting a house. Because something bad might happen down the road, and that’s why we have those contingencies.
So I’ve got another buyer who’s buying a house that’s a little more out of the way. They’re working with the seller to be able to get repairs needed so they can be financed; it’s just a matter of talking, having good relationships with the local Realtors, and making sure that everyone is able to get their clients through a transaction at the pace that they need with the safeties they need. Sellers need to know that they have a paycheck at the end of it, and buyers need a home without any big, catastrophic (avoidable) surprises down the road.
Moving is really hard work, and buying or selling a home can be really stressful. Give me a call. Even if it’s not right now but it’s coming up in a few months, let’s make a plan so that we can take the fear out and put the joy in. Have a beautiful day, stay safe, and call me when there’s something I can do to help you with your home!