By Kay Wilson-Bolton
President, Ventura County Coastal Assn of REALTORS®
April 16, 2000
Sell Under What Conditions?
This is a tricky market if you plan to sell your home and buy one too. If your dream home is an English Tudor on 10 acres in Bardsdale and the market is right to sell your upgraded tract home, think before you sign your listing agreement.
You may want to restrict the sale of your home to finding one that suits you with a concurrent close of escrow. To exclude that contingency may force you into a position of selling your home without having a place to go.
The other tricky element is to find a home where the seller is willing to let you sell yours while they wonder if they should be packing and shopping. In Western Ventura County, there is no secret about short shelf life for homes.
Most sellers want your home to be in escrow before they see your earnest money deposit check. If your next home is going to unique, protect yourself within the terms of the listing to be sure you are not selling your home and then moving into a rental, only to discover that your next home does not exist.
To sell your home in one marketing period and buy in another has proven to be unwise in the last few years. You are better off to sell and buy in the same marketing period to insure an equal trade off dollars, particularly when prices are on the rise.
Sellers may discourage some offers if they limit the sale of their home to finding a home of their choice, but better be a discouraged seller at the beginning of the sale, then at the end.
REALTOR® members are able to guide you in protecting your position.
In your real estate activities, consider contacting a REALTOR® first. Not every real estate agent can use that name and there is a difference. REALTORS® have subscribed to the National Code of Ethics that are clear and commanding and provide a baseline for performance.
Kay Wilson-Bolton is president of the Ventura County Coastal Association of REALTORS® . For more information, contact Bob Seitz, CEO, Ventura County Coastal Assn of REALTORS® at 981.2100. Our website is http://www.vc-realtors.com