The Move Up Buyer: In today’s market, sellers are making their wish lists, and buyers are rushing to fulfill the sellers’ wants/demands.
As such, we can negotiate a contract that allows the “move-up” buyer to move easily from their current house to their new home. There are several ways to go about this. One tried-and-true method is to have your home in escrow using a seller rent-back. The buyer agrees to allow the seller to pay rent to them after escrow closes. Ideally, the buyer would give the seller six months. There should be the option to shorten the term if the seller found their dream home sooner rather than later.
Another option for the move-up buyer is to sell the home subject to the seller finding a home of their choice. This creates an uneasy feeling for the buyer. There is no guarantee the seller will find a home to meet their needs.
The most challenging scenario is writing an offer contingent upon the seller closing escrow on their home. This is particularly problematic if the home is not even in escrow.
It’s best to sit down with your trusted Realtor to explore the options. We have successfully negotiated each of these scenarios for our clients.
