WARNING! BUYERS ARE KICKING OUT SELLERS IN HOT MARKET!! | JARED JONES
Hey everybody. Jared Jones, today's ask the realtor question. I want to sell my house, but I don't like the idea of homelessness. The market's so fast. I can't find what I want. What do I do next? It's a great question to answer today.
Everybody today, Jeff, the realtor questions is super good. One because you know what? As a realtor, I've never aspired to make people homeless. And I don't tend to start this market. When your house hits the market, it's gone within hours. Literally multiple offers stacks, even of rabid angry buyers, wanting you to move out as fast as you possibly can and willing to pay you to do it. But what do you do? You, as a buyer, want to buy a different house. You love the idea of getting that bigger, smaller, that, that home in a different area. You want to get out of where you are now, but how do you do a safely that's we're going to cover today. I'm so glad you asked. Okay.
Today, I'm going to give you five survival tips as a seller to make sure this is done right and done as smoothly as possible. Number one, my best tip do not to list your home until you're absolutely ready to move. Okay? The way the market is right now is if you advertise your home, well, the agent you hire has got a fantastic marketing process. Your home is almost instantly going to be sold. So if you have the idea that you want to put it on the market and you haven't really figured out, if you're pre-qualified yet, if you can even buy another house or if you don't know which location you even want, you, you have a lot of questions as to which house you're going to go to next. Then you're probably not ready to list your home yet. It's a little too soon. It talking to a great agent. You'll answer those questions hopefully fairly quickly. Unless you're loony tunes, you don't know where you want to live.
So here's the challenge. The real estate market is red hot. When you list your house, multiple offers stack up with hours of hitting the market. You're looking for houses at the same time. You want to move somewhere else, bigger, smaller, different area, whatever the reason you're ready to move. If you've started to look in the marketplace or if you haven't let me tell you what's going to happen next as a person who has a home that you need to sell first, looking to buy one, you go into the marketplace and you're looking around and your house isn't for sale yet. Cause you're like, I don't have a place to move and you find a house and it's dreamy. It's the one you love it. But you need to sell your home first. And it's on the market yet. You see it. You fall in love with it. You stack up with all the other offers. You can agent. I want to make an offer on this house. The agent writes it up best. They can conditional on your house selling of course, cause we read that on the internet. That's how you do it. So then you go in, you put the offer in and the seller of that house goes
I see here that this person here is not, they've not listed their house yet. Look at the solver. They don't have $300,000 in the bank. They want my house and that's what happens.
The seller actually has five or six other offers that are all cash or very much cash, or they don't have to sell a house yet. And so they go that direction. Number two, you want to not commit to the winning buyer until you found a house, okay? Here's how this looks. You put your house in the market because you're ready to buy and no seller is going to accept your offer until your home is actually under contract or you have a buyer rate to go. What you then do is you list the house, the top buyer. You tell the buyer, Hey, listen, I need a couple of weeks to chaperone home, cathode your offer. And then we'll pend it. And go from there. You can put terms in there, just like that. So what happens is that the home is held off the market. The buyer sits and waits patiently. They give you a couple of weeks. We stay in conversation with them and they allow you to shop for a home because you need that. Buyer's contract to get your next home under contract. Number three, very similar to number two, you actually contract the buyer of your home to make the purchase of your home. Conditional on you finding the home of your choice. Okay? Now, this is the next layer in the first one.
In the first scenario I gave you, you don't actually sign the buyer's offer. You just kind of stay in limbo and then you consummate it. As soon as you find your house, the second one, you consummate it really close to the same thing, but they actually give you really an indefinite period. Look for a house. I would say it's a little bit weaker than the first scenario. Um, because the buyer might feel that you're going to take forever. Um, they're like, well, we're just conditionally sitting here and that's okay. I mean, if it comes to that, the market is so hot right now that the seller makes all the rules. Number four,
You get rent back on your own home. What you do is you sell the home, conditional on the owner, a buyer, buying your house, allowing you to fund you out, cashew out, close the house, give you your money and then close and what'll happen then is you will then convert. You won't have a mortgage in your name. If you were a mortgage or they will then be, be your landlord. And then you just pay rent for 30, 60, 90 days. So that is a possibility as well. I would tell you that most buyers do not like this route because they usually want to move in. The highest thing. Buyers are gonna be like, let's move in. And so that might be a situation where they're going to try and come in and have you move out of the house. What's the last thing?
What you can do is quite obvious and probably the most common way to deal with it, but it requires financial backing is number five, just buy the next home. First buying the next home. First is a way to avoid homelessness. Now, many of you probably would say, well, I don't want two mortgages or I don't want two properties with one empty assigned to me with expenses. And I would tell you that, unfortunately, the market we in that is one of the smoothest ways to buy your next home because you can just move right into the next home, and then your house will be empty when it comes time to sell. And when all the chaos of all the buyers that want to come through your former home, it's just re you're more removed from it. Do you know? So it's one less hassle, but that's it. That's what I would tell you is the easiest way to avoid homelessness in a tight market situation. I want to hear your ideas in the comments below. So let's continue the conversation. If you appreciate the video subscribe for more of the content hit the bell icon. So you're getting updates when I'm releasing new information, new videos, and for goodness sake, share it with somebody who needs it like the video as well. I appreciate your help with that. Talk to you real soon.
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