Patty: Opportunities Arise in Real Estate Seller’s Market

[CREDIT: Matt Patty Realty]  Matt Patty with Keller Williams Realty.

  1. ng Service and is generally faster and always more accurate than national syndication sites.
  2. You don’t know if you can afford the home or would be comfortable with your payments because you aren’t pre-approved for a mortgage.  Many times, something shows up on the mortgage brokers credit report that the consumer is unaware of.
  3. You don’t have an agent.  Homes sell Agent to Agent.  It’s one of the main reasons why when I list For Sale By Owner Properties at the exact SAME PRICE as the Owner previously listed them, we regularly sell them within 30 days, even if they had been sitting for months previously.
  4. If you’re lucky enough to find a home you like on Zillow that is available, you now have to get financially approved and make an offer subject to your home selling, even though yours isn’t listed yet.  So the seller is waiting 7-21 days in a hot market while you choose a listing agent, sign a listing agreement, clean, de-clutter, paint and (hopefully) price your property correctly on the open market, in short your offer is never going to be selected.
  5. Make sure your Listing Agent protects you by disclosing to the co-brokers that you will need a “Sale subject to suitable housing” provision or a longer term closing on the sale of your current home.  We can negotiate the time you need to move upfront in our purchase and sales agreement.

As a backup plan, you can secure interim housing while you shop, although one of our Team’s biggest areas of expertise is in fact, helping clients sell and buy simultaneously.  Because we are a Team of dedicated professionals handling each phase of the operation, our clients know that their buyer’s agent has plenty of time for doing what needs to be done, getting you in the door quickly on your schedule and helping you evaluate homes.  We rarely need the interim housing solution for our clients because we are usually successful in locating the best home on the market for them after selling their property for top dollar.  This is part of our value in the marketplace today and we helped many clients successfully make this transition this year.

When you are involved in any financial market, to truly capitalize on market conditions, it’s important to understand that there are things you can control and things that are inevitably fluid.  If you focus on the things you can control, you will be much more successful.   For more information on Selling to Buy, Subject to Suitable Housing clauses, getting pre-qualified or to get an accurate range of values for your current home or investment property, please reach out to me directly at 401-269-6169 or [email protected].  If you’d like an online property evaluation of your current home and neighborhood you can also check out, enter your address to receive your report. We are looking for introductions to your friends, neighbors or relatives looking to buy, sell, or invest in Real Estate in Rhode Island!  Enjoy the fall season and keep your eyes peeled for our yard signs near you!