- SellForSure University Home Page
- Module 1: Introduction
- Module 2: Sell By Owner, or With Agent?
- Module 3: Working with an Agent
- Why You Should Use a Real Estate Agent to Sell Your House
- Drawbacks to Using an Agent
- Real Estate Agent Designations
- How to Choose a Real Estate Agent
- How NOT to Choose a Real Estate Agent
- How to Interview a Real Estate Agent
- Questions to Ask your Real Estate Agent
- Dual Agency
- Check an Agent's Work
- Communicating with your Real Estate Agent
- How a Real Estate Agent gets Paid
- Discount and Flat Fee Brokers
- Real Estate Listing Agreements
- Your Real Estate Agent's Job in a Nutshell
- Module 4: Valuing and Pricing your Home
- Today's Real Estate Buyers are Savvy and Empowered
- Real Estate Values and Pricing
- What Matters and What Doesn't in Pricing your Home
- Every Home is Unique
- Three Major Factors affecting Real Estate Values
- Online Real Estate Price Evaluations
- Real Estate CMA or Comparative Market Analysis
- Real Estate Appraisal
- Realtor Property Report (RPR)
- Which Real Estate Valuation should I Trust
- The Real Estate Auction Sales Model
- Overpricing Your Home for Sale
- How to Maximize your Home Sale Price
- The Virtue of Underpricing your Home
- Selling your home with little or no equity
- Module 5: Preparing Your Home for Sale
- Inspecting your Home Prior to Selling It
- Preparing a Full Disclosure Package for Home Buyers
- Contents of a Real Estate Disclosure Package
- Making Repairs to your Home prior to Selling It
- Required Retrofits of your Home
- As-Is Real Estate Sales
- Selling as a Certified Pre-Owned Home
- Preparing your Home for Sale
- Enhance your Home's Curb Appeal
- Home Staging
- The Cost of Preparing your Home for Sale
- When to List your Home for Sale
- Living in a Home vs. Selling One
- Getting the Word out about your Home
- Showings and Open Houses
- When Buyers are In the House
- Make your home Available, but make Yourself Scarce for Showings
- Offers and Negotiations
- Selling a Home that is Tenant Occupied
- Selling your Home in a Tough Market
- Recognizing the Wrong Price for your Home
- Real Estate Price Adjustment Strategy
- Moving after Selling your Home
- Module 7: Negotiating and Closing the Sale
- The Residential Purchase Agreement
- What Happens when you get an Offer on your Home
- Negotiating the Sale of your Home
- Top Negotiation Tactics to use when Selling your Home
- The Buyer's Due Diligence
- The Real Estate Closing Timeline
- Delays in the Home Sale Process
- The Buyer's Appraisal in the Purchase Process
- Real Estate Tax Information for Home Sellers
- 1031 Tax-Deferred Exchange
- How much it Costs to Sell a Home
- Module 8: SellForSure System Walkthrough
- Goals of the SellForSure System
- The SellForSure Home Sale System Guarantees
- Traditional Real Estate Marketing Methods
- Active Real Estate Marketing
- Free Home Inspection and Termite Inspection
- SellForSure Pre-Sale Services
- The SellForSure Web Portal Status System
- SellForSure Preparation Phase 1
- SellForSure Preparation Phase 2
- SellForSure Preparation Phase 3
- SellForSure Preparation Phase 4
- SellForSure Preparation Phase 5
- Launching your Home on the Market
- SellForSure System Listing Syndication
- How to Manage Showings on your Home
- Real Estate Open House Events
- The Perfect Home Sale Schedule
- While your Home is on the Market
- The Two Week Review Cycle
- What to Expect Once your Home is Under Contract
- Closing the Sale of your Home
- Module 9: The Realty World Advantage
If you are presently living in your home, the question of course arises: how to sell a home and then buy – or rent – a replacement property?
There are a number of ways to do that, with the most common being a contingent sale: that is, you add terms to any purchase offer that the sale of your property is contingent upon you finding a replacement property. Of course, the next property you offer on you’ll need to write in that purchase offer that your purchase is contingent upon the successful sale of the property you currently live in.
If you write an offer that is contingent upon the sale of your current home, the seller of the home you want to buy will, more than likely, expect to see that your home is already on the market. If it isn’t, how will they realistically have any idea of how quickly it might be sold, so you can release that contingency? What’s more, the seller of the home you want to buy will more than likely want your home to already be under contract before they’ll consider your contingent offer.
For this reason, before you get too serious about finding a replacement property, you’ll want to have your home prepped, listed, and ideally, already under contract before you make an offer on any other home. As a safety measure, you can make the sale of your home contingent upon you finding a replacement property. That is, you don’t have to go through with the sale of your home until you’re in contract on a replacement property.
Truth be told, buyers and sellers prefer not to work with these kind of contingencies: you’ll shrink the pool of buyers for your home, and you’ll have a harder time getting an offer accepted on your next home if you make a contingent offer. Even so, contingent offers are made and accepted every day, and it’s the path that many homeowners take.
Another option is to see if the buyer will allow for a rent-back: say that after the sale closes, you are allowed to rent back the property from the new owner for a period of say 30 or 60 days. If your buyer is telling his lender he intends to live in the property once the sale closes, the lender will usually only allow a maximum of 30 to 60 days rent-back. You may be able to subsequently extend that, but the buyer would then be in breach of his loan agreement with the lender, and anyway, the buyer is probably anxious to move in and get settled themselves. If, however, the buyer of your property just intends to rent it out to someone else regardless, there probably won’t be a problem stretching the rental period out considerably longer.
As unattractive idea as this will be for a lot of people, the best option for many will turn out to be getting a short term rental. This does involve moving twice, however, a lot of short term rentals are furnished. If you are able to find a month-to-month rental, it gives you the luxury of finding a great replacement property without being rushed to get out of your current home before your rent-back period is up, and allows you to make a strong, non-contingent offer on your next home.
When moving, considering getting a POD. If you are not familiar with the POD system, the way it works is that the company will deliver to you a storage pod, into which you load the contents of your home. When the POD is loaded, the company comes and picks up the POD and places it in their storage facility. When you are ready to move in to your new house, the company delivers your POD to the new address. Easy!