ASK THE PRO
SUCCESSFULLY BUYING AND SELLING IN A HOT MARKET
In my latest Ask The Pro with the Las Vegas Review-journal Real Estate Section, I offer strategic advice on what to do when you’re ready to sell, but low inventory is creating apprehension on where you’re going to move.
This question has come up quite a bit lately, and with the right timing and tactics, you’ll be able to slow down the process to make successful decisions.
Strategy #1 – Sellers’ Leaseback
If you’re selling your home and require additional time to move, one of the key strategies I suggest is to write a 60 to 90day leaseback option into a counter offer for the buyer. This will give you extra time to get necessary funds together, conduct thorough research and plan your move. By incorporating the leaseback option in the counter offer, you’ll essentially become a tenant of the buyer for 60-90 days after the 30-day escrow and closing. As a result, you’ve bought yourself up to 120 days that can help alleviate any pressure and slow the overall process down.
Strategy #2 – Buyers’ Leaseback
This strategy also works well if you’re a buyer in today’s competitive market. With many bidders going above the list price or waiving appraisal contingencies to add incentives for the seller, including a 60 or 90-day lease back option in your offer might give you the edge. If the seller isn’t ready to move, or they’re a bit anxious about getting out of their house on time, providing this option could make your offer stand out. The seller may be more likely to accept your offer over others, even if your offer is not the highest.
Sometimes it’s not all about pricing. In the current market, everyone is getting top dollar. But if you can offer something others aren’t that adds convenience and ease, it could be a win-win for everyone.
Strategy #3 – Be Prepared
A bonus tip I share with my clients – make sure everything is in place so when your property hits the market you are prepared. Whether that means staging, market value analysis or inspections, having these things in order can help you get the most money for your bottom line.
Check back often for more Ask The Pro tips and industry insight. Our website is a great tool for more information about myself and the Darin Marques Group.
If you have questions regarding buying or selling your home please call us at (702) 930-3214 or email darin@dmgluxury.com.
DARIN MARQUES Broker-salesperson
Darin Marques Group huntington & ellis, A Real Estate Agency License BS.0145227
9525 W. Russell Rd., Las Vegas, NV 89148 (702) 935-2806 dmgluxury.com/askthepro