As real estate specialists, the main thrust of our column is usually to lay out ways a talented agent can help buyers locate and speedily acquire that ideal abode.
Only once or twice have we mentioned a very important quality the buyer can bring to the table. We call it tenacity.
The first glimmer we get of this trait is from a buyer who shows up not just as a home-seeker, but as an owner who’s willing to sell the current home before tackling the search for a new one. It’s usually a couple who’ve discussed their situation at length. They know whether they want to move up or downsize, with a view to acquire a bigger, smaller, easier-to-maintain or better located place to hang their hats.
The advantages of selling first are many. Buyers who can offer all cash on their next home enjoy a competitive edge. Unlike most shoppers, they’re not making offers dependent on getting a big enough loan, or a contingency requiring the seller to wait till the would-be buyer sells his current home.
Selling your home before you know where you’ll be moving to may sound risky to all but the most tenacious buyer. It may involve taking up short-term residence at a rental apartment or motel. It may require moving twice instead of only once.
Determined buyers, however, think the significant payoff in negotiating power is worth the risk. They move ahead with all the necessary steps to make their home market-ready, and even get pre-approved for a loan on the new home if they should need it. They may check out short-term rentals and storage facilities as well.
The second time a tenacious buyer strengthens his hand is when the closing time on the new home seems to be dragging. In a situation like this, a timid buyer may become discouraged, start looking
at other homes and lose focus.
But prolonged closings are far from uncommon. Tenacious buyers simply knuckle down, rely on their agent’s negotiating skills and keep their eye on the prize.
Whether timid or tenacious, both buyers will end up with the home they’ve been looking for. It just happens a lot faster for one of them.
Nikki Holmes is Broker/Owner of Gold Rush Realty. Annie Holmes is publicist for Gold Rush Realty & GoldStar Homes. Reach them at HolmesTeam@GoldRushGroup
.net. (530) 906-7745 or at Gold Rush Realty offices in Auburn or Fair Oaks.