How Can You Make a Smooth Transition in Grand Rapids?
Buying a home? Click here to perform a full home search
Asking yourself “what is the value of my home” in today’s market?
Check out our Free Online Home Price Estimation Tool.
Call me at (616) 942-2449 for a FREE home buying or selling consultation
Hello, and welcome to another episode of KevinYoder.TV! Today, we want to address a dilemma many homeowners find themselves in: not knowing what to do when you can’t sell your current home until you find a new one.
Inventory is quite low right now in Grand Rapids. Since our market began to recover a few years ago, most homeowners have recovered enough of the equity they lost in the crash and are ready to make their move. The problem is that there are not enough homes on the market! Inventory usually picks up in early summer, but at this time there just isn’t much to choose from.
The key question you need to ask: Do you absolutely need to sell in order to buy?
It's important to note that contingent offers aren't worth the paper they're written on, especially in this market!
Are you a cash buyer or someone who needs to sell their home first in order to get a mortgage? Most homeowners need to sell first, but don’t have the right strategy; they want to find their dream home and submit an offer that is contingent on getting their current home sold. It’s important to note that contingent offers aren’t worth the paper they’re written on, especially in this market!
The home that you write a contingent offer on is still available on the market. So, while you think you’ve found the right home, there is a chance other buyers will come along and make a better offer, and you could lose the home as a result.
Your best course of action is to get your home on the market! Getting your current home under contract will give you leverage once you find a new one – you’ll be able to place a confident, competitive offer on your next home! It sounds difficult, but in a market like this you need to be bold!
If you have any questions about making a smooth transition in our marketplace, or if you need real estate assistance of any kind, give us a call or shoot us an email at any time. We would love to help you make the most of this market!
