I’ve recently published many articles speaking to buyers. In this hot Colorado real estate market there are many things a home buyer needs to know, but lets not forget that it’s a sellers market right now! If you’re selling your home, one of the biggest pain points you may encounter could be moving very quick through the selling process. Sometimes you want to sell your home quickly and get on to the next phase in your life, but sometimes your home sells so quickly, you’re still adjusting to the idea of moving! On average, a home in the Denver metro area is only on the market for 10 days and in that time multiple showings will happen and possibly multiple offers. The Denver real estate market is still moving at a rapid pace with low inventory so once your home hits the market, it’s important to be prepared so you don’t get too stressed out or overwhelmed. Below are some tips to keep in mind if your home sells faster than expected:
1. Line up somewhere new to stay
Possibly before you even put your home on the market, you want to make sure you know where you’re going to live next. Are you selling your home to move in with a significant other, downsize into a rental for a few years or are you buying a new home at the same time you’re selling your old home? These are just a few scenarios that prompt people to sell their home and that dictates where you’re going next. If you decide to rent for a few years after you sell your home, you’ll want to make sure the rental will be available in the timeframe you’re looking to move. If you’re selling your existing home and buying a new home at the same time, then we’ll want to discuss some options that include contingency options and coordinated costs.
2. Include a contingency if needed
Just because you accept an offer on your home, doesn’t mean that the initial offer that comes through can never be altered. If you’re happy with the selling price, don’t forget that you can also influence your buyer’s moving date. If you need longer than 30, 60 or even 90 days you can add that into the contract, and negotiate on terms in a post-closing occupancy period. I often advise my clients on the best timeline based on what I know about their goals and what is communicated to me by the buyer’s agent. Every situation is different, and there is no perfect timeline to sell a home. If a buyer is on a tight timeline, that may be an issue but otherwise there should be wiggle room on dates.
3. Coordinate inspections and repairs as needed… or don’t
In the last few years, a record number of homes sold sight-unseen with inspections completely waived. If you sell your home to a buyer who is waiving inspection criteria and buying your home as-is, this isn’t a point you need to worry about. However, if your buyer is going through with inspections and may even ask for repairs to be made then you’ll have to take that into consideration. Sometimes, inspections can be done within a week’s window of closing and that can be stressful to try and coordinate. Make sure to keep track of these vital dates when you first see the contract and understand what is being waived and what is still on track to happen and when.
4. Get a packing and moving strategy
Nobody likes moving, especially not the packing and physically moving of heavy boxes. Even if you hire a movers service to pack and move for you, you’ll want to make sure that gets done in the intended timeframe so you aren’t penalized for staying in your home after a new owner has taken possession. Maybe you want to pack a little at a time, or maybe you hire a service to do it for you all at once. Either way, coordinate these things ahead of time to save you and your family stress as it gets closer to closing, especially if you have small children or elderly family at home.
Are you ready to sell your home quickly? Are you in the market to buy or sell your home? Call and text me at (720) 323-4176 or email me at [email protected]