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Six things to consider when purchasing or selling a home in a seller's market

March 05, 2022
By: David Lacamera

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Looking to sell your property for cash! Selling property, especially a house is a tricky, risky as well as and emotional business. You need to hand over the place you have been living in since always to someone else and shift to a whole other place. As emotional as it is, you have to take care of so many financial and technical aspects too. 

 The confusion always surrounds the selling price of old property, finding the new one to fit the budget and needs, along with maintaining the difference between them. As it sounds, there’s a lot to manage between the process of shifting from one place to another. You need to be aware of possible things that you can do to make things easier, with knowledge of prices and a good build strategy, something like this. 

 1.Search the place before you leave

 You need to know the market price. Find a place that works for your needs, fits your preferences, budget, and expectations in all possible manners. This is not as a linear process as it sounds, you have to compare, between localities, amenities, and every single small specification that you find essential to shift. 

The difference between your property’s value and the one you need to buy can be filled up by HELOC or Bridge Loans, the short terms loans that can help you buy the house before you sell your property. 

 2.Online services are an option

 It’s not a lie that the internet has all answers now. You can always look up online sites to be marked sold on your house within a short period in the seller’s market. Online platforms generally serve fast property sell. They let you get your recent home get an offer within 10-60 days, and the period lets you get the house for yourself on the same platforms. You can close both of the deals at the same time managing the difference between the prices and time according to your convenience. 

Selling property, especially a house is a tricky, risky as well as and emotional business. You need to hand over the place you have been living in since always to someone else and shift to a whole other place. As emotional as it is, you have to take care of so many financial and technical aspects too. 

The confusion always surrounds the selling price of old property, finding the new one to fit budget and needs, along with maintaining the difference between them. As it sounds, there’s a lot to manage between the process of shifting from one place to another. You need to be aware of possible things that you can do to make things easier, with knowledge of prices and a good build strategy, something like this. 

Sell your property for cash

3.Use your perks of seller’s market

 Being in the seller’s market gives you its own benefits. If you want to sell your property for cash, one of them is that buyers cut you slack with the time and incentives to close the deal. You can use them both in your deal, take advantage and take your time with ease to find your home and fix that deal. 

Another perk you can count on is the renter-back agreement. This gives you a space to sell your property and then rent it from the buyer till the time you shift to another place. 

 4.Contingent Offers

 If Bridge loans are not an option for you, the situation still has some solutions. Make an offer that is higher than what the house is listed, including repairs and additional costs. You can make yourself stand out from buyers and create a more attractive deal for the seller. 

Before jumping on it, discuss with your agent to understand the conditions better and make the offer more attractive. 

 5.Know your options

 Seller’s market does not bound you to sell your property, instead you have better investment options. Property can be rented to have a secure investment until you find the perfect house to settle in. this way you can create a fixed income for the monthly payment for what you owe on the mortgage. As always suggested, even though the seller’s market always has more buyers than sellers, and many of them are looking for a rented house to save on big investments at once, you need to confirm your decision with an analysis of other renters and people who have invested before. 

 6.Think once before investing

 Seller’s market has different options for you if you are not in a place to buy a place but have to shift in one. The attractive homes for sale in Philly also have the option to rent them. You can always look for a place to rent and save for a better house or opportunity while selling the previous one. Don’t make any hasty or pressurized decision, know your place and financial position, you may be able to grab a better deal if you wait for the right time! 

David Lacamera: Dave@needmomentum.com or @davidlacamera

Brittany Nettles: @shemovesphilly

Ed Stulak: @edstulak

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“Philly Housing Sale helped explain the entire process very clearly and relieved me of my worries. They responded quickly to my inquiry and came to view my property the very next day. I compared it to what other companies would offer and the cash offer they made was very fair! I would highly recommend Philly Housing Sale to anyone who wants to sell their house quickly and fairly!” – Ben, South Philadelphia 

 

“I was very skeptical when I was searching for a home buyer in the are but once I talked to one of the home investors at Philly Housing Sale, I felt certain that I would be treated with great customer service but was still unsure if I would be given a fair offer for my home. After I agreed to having them value my home I got an offer that I couldn’t resist! They are truly professionals and did everything they said they would.” – Lauren, Fishtown

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