Are You Prepared to Move Quickly?

By
Real Estate Agent with RE/MAX Elite 513.265.3004 www.LizTour.com SAL.2002007747

Moving truckAre You Prepared to Move Quickly?

As soon as you start considering selling your home, you need to assume success.  When we first meet, we'll talk about many things besides how to get your home ready and expected selling price range. 

Among the questions you'll probably have is "How long until my house sells?"

Obviously there are quite a few variables that go into that answer, some YOU control, some WE control, some NEITHER of us control.  If WE team together and properly prepare, price and market your home, we can optimize the conditions that a buyer WILL find you.  However, first that buyer has to exist:  someone looking for a VERY close match to what your home offers, in your school system and in your price range.

So when we review average days on market (DOM), it's literally that, an average of all similar homes in your Warren County community.  You'll notice that some homes sell in a few days, some may take years.  Some homes have lots of demand, some homes the buyers reject for a host of different reasons.

So the question is, if you're one of the "just a few days" sellers, are you ready to move quickly?  Do you have a place to go?  Friends or family?  A place to rent?  An RV in the Wal-mart lot?  Everything going in a temporary storage unit and you get to know the local extended stay hotel?  They're all options and you need to have an exit strategy so you can react quickly to your purchase offer before the buyers sees another bright and shiny home that draws their attention. 

And by the way, have you talked to a mortgage specialist to make sure you HAVE an exit strategy?  With frequent changes to loan programs, we highly recommend getting a preliminary idea of whether your next home plans are viable.  You don't want to put that "FOR SALE" sign in the front yard, accept an offer and THEN find out you can't get financing for your dream home.

If you have other questions about your real estate options, please don't hesitate to contact us!

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

Posted by

REALTORS(S) Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Liz direct:  513-265-3004
Bill direct: 513-520-5305     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

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Re-Blogged 1 time:

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  1. Kathy Sheehan 02/18/2012 06:01 PM
Topic:
Home Selling
Location:
Ohio Warren County
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Advice for Sellers
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Ambassador
754,052
Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

One of the first questions I ask my sellers...if your home sells tomorrow, are you prepared to move out quickly?  It's a very important question because if they can't be out quickly, we need to make sure to annotate that.  Additionally, I can usually help them gain an exit strategy as part of listing their home :)!  Terrific post as usual :)!

February 17, 2012 07:56 AM #6
Rainmaker
784,786
Paula McDonald
Chevaux Group, PLLC - The Woodlands, TX
CHEVAUX Group ~ The Woodlands, TX 936-203-0279

Excellent advice and points.  I always suggest that in preparing the home for a sale, thinning things out and packing things early will help them to be one step ahead of the game.

February 17, 2012 08:24 AM #7
Rainer
307,045
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

An exit strategy is always what I advise my buyers to look out for before they purchase their next home.  Even if they think that they will be in the unit for a long time.  A "Just in case" attitude is what I tell them to have.

February 17, 2012 10:15 AM #8
Rainmaker
707,825
Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Liz/Bill - I like the wording of these tips - an exit strategy.  I've had to "double move" twice because my homes sold in the first days.  While it's a pain, we had planned for it with a storage unit and living in an apartment complex which allows for month to month rentals.  That allowed us plenty of time to search for our next home and/or allow the builder to complete the new construction home we once bought. 

February 17, 2012 10:23 AM #9
Rainmaker
404,880
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

Moving is never easy...I've done it 3 times. Luckily my husband has always been the builder for each new home but still we had our drawbacks. We never moved to the next new construction till the first was under contract....it was better than trying to sell an empty home.

February 17, 2012 10:23 AM #10
Rainmaker
591,409
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

This is a critical part of the home sale process.  I am working with a new seller who listed her home several years ago with another agent  When the home didn't sell, she dediced to rent and had multiple offers. After months of waiting to sell, she wasn't prepared for all the activity, took the house off the market and stayed put!

It's important to know what happens next.

February 17, 2012 10:44 AM #11
Ambassador
1,082,912
Bryan Robertson
Catarra Real Estate, Inc - Los Altos, CA
Broker, Author, Speaker

One of the first things a seller should know is where they're going.  In my experience, having the security and knowledge of a destination is important in making the decision to sell.  It also makes negotiating terms less difficult since they know what the next steps are.

February 17, 2012 11:34 AM #12
Rainmaker
1,394,205
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Personally, I've moved so many times.  With 24 hours notice, I can be ready to go!  No lie, but great post.  Hey, what's with BLiz #3 and #4 on the Leaderboard?  You booted me...................LOL.

February 17, 2012 11:51 AM #13
Rainmaker
883,052
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

This is great advice, Bill.  You are painting the bigger picture for your Warren County home sellers.  These are things many people don't think about.

February 17, 2012 01:14 PM #14
Ambassador
1,321,019
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Bliz,

It should never come as a surprise to sellers that...they have to get out of the house when it sells. Nevertheless, there are always a few around.

Rich

February 17, 2012 02:33 PM #15
Ambassador
1,444,478
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Finally back, haven't been able to play in the Rain much today!

Brenda, The sellers have to be prepared for best/worst cases both.  Sometimes it happens quickly.  Sometimes they get so many showings they get worn out :)

Paula, If you're going to move anyway, why not get all the extra stuff we don't routinely used packed up (and hopefully taken somewhere else!).

Jennifer, There is just no way of predicting with certainty when that just right buyer will show up with an acceptable offer.

Juli, We've had some sellers lucky and find a home currently on the market that fits them after getting their contract on their own home AND had a coinciding move-in date.  That's tough to pull off normally.  Most rent for a bit.

Ellen, In our current market, we could almost never recommend committing to a new home without the existing under contract.  Some people have the financial capability, but for most it's a very risky strategy.

Margaret, The seller really does need to have thought it through.  What is the plan?

Bryan, If they know they'll rent, there's none of the complication of a certain date having to happen, or a minimum net because "that's my downpayment on the next house".  Focus stays on one transaction and reality has a better chance of being considered instead of the "I wants...."

Roger, Moved a TON growing up, but now in our home for 20 years.  Between our stuff and the furballs, a quick move wouldn't happen easily.  And guess the 3/4 thing must have been a glitch that they fixed.

Jane, We've learned much about what our sellers DO need to consider all before getting down to the serious business of selling their home.

Rich, Unfortunately, it does happen, and it can cost a sale when they're not fully prepared for the "what's next" part.

February 17, 2012 05:28 PM #16
Rainmaker
1,055,881
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

BLiz, it can be such a stressful time and that is why careful planning works with a great Warren County realtor  to help them through.

February 17, 2012 05:38 PM #17
Rainmaker
502,362
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

BLiz....it is true.  I had clients put an offer in a house that had just come on the market & the date we put in for closing was too soon....they would not be ready to move that quickly!  I always assume that the Seller wants a short time frame but sometimes not.

February 17, 2012 05:54 PM #18
Ambassador
1,444,478
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Ginny, We try to put all our experience to work to prevent them from having significant headaches with the process.

Christine, I think some assume they'll get several months.  Doesn't always happen that way does it? :)

February 17, 2012 07:05 PM #19
Rainmaker
127,312
Michael Thornton
RadnorLake Video - Nashville, TN
Nashville Area - Photography & Videography

Good morning, BLiz. I am constantly amazed at how much S*** folks have paced in nooks and crannies of their home. Move quickly? Fat chance - LOL...

February 18, 2012 03:49 AM #20
Ambassador
1,444,478
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Michael, I'd say as a whole we all have too much stuff!  We keep hauling stuff to Goodwill and still keep finding more :)  Our basement is as empty as it ever has been, but the reality is about half my shirts never get worn and could get donated with no impact to me at all.  Bill

February 18, 2012 06:16 AM #21
Ambassador
985,907
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

One of the first questions I ask my potential sellers is that if someone showed up tomorrow with a wheelbarrow full of cash, could you move in the next 30 days? If the answer is no, I tell them that they're probably not ready to list yet. It's important to have an exit plan.

February 18, 2012 08:03 AM #22
Ambassador
1,444,478
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Craig, We've used the same scenario.  Wheelbarrow of cash, how quick can you be gone.  If may very well turn out to take 6 months to find a buyer, but it could also happen the first week.  They've got to have an exit plan for both scenarios.

February 18, 2012 08:39 AM #23
Rainmaker
155,521
Carolyn Kolba
Serving Mentor, and all of Lake County, Ohio - Mentor, OH
Keller Williams Realty- Mentor, Ohio

Liz and Bill:  I always tell my sellers to start packing BEFORE we put their home up for sale.  That way, the home not only ends up looking less cluttered, which means it looks larger and worth more, but it also prepares the sellers to be able to move quickly if for some reason, they must.

February 18, 2012 06:07 PM #24
Ambassador
1,444,478
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Carolyn, Anytime we can help the buyer show how much room a home has, it's a plus.

February 18, 2012 08:05 PM #25
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RE/MAX Elite Warren County OH (Cincinnati/Dayton)
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