Mar 31 2016 11118 1
Sellers who quickly become Buyers in the market of "no inventory." What to do? Should this now buyer rent then buy when more inventory picks up? Ummm that's kind of s double edge sword. The rental market is demanding higher rents and 1 year lease terms. So for that buyer who needs temporary housing this is not an option. Especially since mortgage rates are so low and they will more then likely start to inch back up after elections.
Another issue: You (Mr. & Mrs. Seller) want to sell to either up size or down size but stay local. You have equity in your current home and market values are up. But you have no where to go, so that leaves you staying put. However there are a fair amount of buyers out there that are coming to terms on their leases however they can much easier go month to month without paying too much of a premium, then a seller being forced out of their home into a 12 month lease.
But wait there is an option. Lease back from the new buyer of your home. Example: Mr & Mrs. Seller, your house gets an offer in 4 days and you have 30 days to vacate with no where to go. Negotiate with the buyer a 30 to 60 day lease back (aka rent back). The buyers close on the sellers home as they would in a normal situation but sellers stay in home while paying the buyers rent until Mr. & Mrs. Seller find a new home. Yes not ideal but when options are slim this may be the best of both worlds. Seller gets his money buyer starts earning money (rent may be higher then their new mortgage) and no one is forced to move twice or go into a long term lease. Well hope this seems like a logical option for those on the fence sellers and eager but patient buyers.
Selling real estate is not just a job or hobby for me, it is my career. I have been practicing real estate for the better half of a decade and find that my daily energy comes from my clients. Finding ....