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 2020 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.
The
Result: Part
one of our adventure, selling their condo, was a great success. Stay tuned for
part two: the search for a larger home.
All in a Day’s Work: Solving Real-Life, Real
Estate Problems for our Clients
is a regular feature brought to you by Marie Presti of The Presti Group. Our
agents specialize in luxury homes, rehabilitations, multi-families and
condominiums in urban, suburban and exurban areas throughout the Greater Boston
area. Marie Presti is a Certified Negotiation Expert. Reach out at [email protected]
to find out how "We go the extra block.”
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