Not what you want to hear, I’m sure, but…it is your decision.

The good news is: you have an advisor called a real estate agent. Here’s why this matters. Real estate agents have to know their market and even sometimes markets they don’t operate in. Why? Because real estate is complicated and multi-faceted, particularly if you’re trying to bridge two different markets. If you are moving to our market, we need to know the market you’re coming from if you have a home to sell. If you have a home to sell, you are going to be held to expectations by the seller from whom you wish to buy. So your agent needs to know how long your existing home in that other market might sit on the market. This way, we know how much time you will probably need, so you do not BREACH your offer to purchase on the home you wish to buy. That’s a mouthful.

By the way, if you do this on your own, your attorney isn’t going to know how much time you need.

I’ve said this many times and if you follow me, you know it. Our unique knowledge can save you thousands of dollars…if you listen. We don’t want you to create such a tight timeline that you cannot possibly make it, particularly if you have thousands of due diligence dollars at stake. Remember you put due diligence dollars into the transaction up front, and if you do not close, you lose that money! I don’t know about you, but I don’t like losing money.

Let me give you a scenario of people who refused to listen to their agent. The had a home to sell and made an offer on another home, an older one. It had a septic system, which included an old, old septic tank. Their agent urged them (and urged and urged) to ask the sellers to repair any damage to the tank. They didn’t listen. NOW, they have a bad situation with a damaged tank that must be REPLACED, not repaired. And did you know that if you REPLACE a system, it must meet current code? Yep. And that means permits, new tank, new installation, new drain field and one in reserve. What happens if your land isn’t large enough to support what the new code requires? Well, there are solutions, but the dollar amount could be 5 figures. Not kidding about that.

By the way, if you try to do this on your own using an attorney, the attorney isn’t going to ask you how old the septic system is.

What about this scenario: First time buyers make an offer on a home they’ve looked for, for months. Terms are negotiated and agreed upon and then the sellers want to stay for a couple of days after closing but don’t want to sign a form allowing them to do this, holding them accountable to a timeline and any damage they cause, and pay rent to the new little buyers. THEIR agent pressures the buyers to let them just hang out for free. What would you do?

The first thing is, it is not the new buyer’s responsibility to plan the sellers’ move. It is also not their job to help the sellers move out at their leisure, at no cost to the ones leaving. Poor planning on the part of the sellers does not mean the buyers have to put their financial wellbeing at risk. If you allow this and the sellers burn down the house, it’s on YOU, the new owners. And listen very carefully. Your insurance company PROBABLY won’t cover you because you don’t have a rental policy. See the problem? Don’t do it! Listen to your agent and call the insurance company. By the way, if the sellers scuff up the paint and gouge the walls while they move furniture out, they can leave it and you, new owner, have zero recourse.

One last thing: interest rates are most likely never going back to 3%. If you wait, rates will go up and so will house prices in hot markets. Just make the move. Refinance later if you don’t like the rate, but don’t let the house go up 30 grand in price while you wring your hands. It’s not wise to wait in MY market. And investors are circling like sharks in bloody water. They’re going to offer cash, so PLEASE listen to your agent about how to navigate these waters. I know. You have the internet. But we do. this. every. day. We have deep knowledge, not something we just read online.

Please call me directly at 919-210-6113. I’ve said this a lot too: It doesn’t cost ANYTHING to have a conversation, and experience DOES MATTER. I’d love to help you with your real estate needs. Or cats. I can help you with cats, too.

I hope your day is spectacular!

Regards,

Brenda Briggs, Realtor, Broker