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Timing it Right: Selling Your Home; Buying a New One
Problem:
A young couple with two children had the age-old dilemma: they wanted to upgrade to a larger home but needed to sell their Newton condo first. They had three options after accepting an offer: ask for a delayed closing to give them time to search for a new home, rent back their home for a while from the buyer, or move into a temporary rental post-closing. Their situation was complicated by the fact that they wanted to stay in the same school district, which limited their options.
Solution:
I listed their condo in January for $559,000, after making sure there were no snowstorms in the forecast. We did some light staging — pillows, art, carefully curated accessories — and the condo dazzled. I priced the property a little low, because my clients were eager to sell (they had two young children, and keeping the property show-worthy was tough) and I had a feeling the price would entice. I was right: we received eight offers and accepted one for $600,000. The offer allowed my clients to stay in their condo for four months after closing — rent-free. Ultimately, they opted to move into a rental for six months as they looked for a new home.
Result:
My clients were delighted to receive an offer above their asking price, which gives them the freedom to search for their ideal home without the need for a contingency based on their condo sale. This allows them to make a strong offer when they find their dream home, ensuring a smoother purchasing process.
