With low inventory in many markets throughout the country, many homeowners are afraid to sell their homes because they're concerned that they may not be able to find a new one. This can be a real problem, but if you are seeking to sell-whether to upgrade or find a new neighborhood-there are a few ways to combat the low inventory.
Look to buy firstIn most markets it is a real mistake to put your home up for sale before you start looking for your new property. Identify the geographic area where you are interested in buying. Even if you don't see anything on Zillow, it doesn't mean you can't or won't find the right home.
Think outside the boxBe proactive! Keep in mind that there are probably many people like you who want to make a move but are afraid as well. Have your real estate agent send a letter to the neighborhoods in the geographic areas where you want to live. The letter should be heartfelt and personal while announcing that you are ready to buy a home in that neighborhood. You could find a home to buy that may not even be currently listed or for sale.
Protect yourself legallyEach state varies in how the purchase process is conducted. Talk to your real estate professional about adding a clause in the purchase contract for the home you are selling that will enable you to not sell the home if you cannot find a suitable home to buy.
Contact me if you are thinking about moving I will gladly help you!
About eXp - Licensed by Louisiana Real Estate Commission
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
The Baton Rouge real estate market, even with a historic inventory low
"In March of 2016 I ran across this condo for sale and it seemed like a great deal, I had to see what the place looked like inside. The same day I called Donnice she was able to show me the property. Once inside I fell in love with it, my husband and I were first time buyers and we had no idea about the world of reality or buying. Donnice was such a joy to work with she helped us with the buying process and made the experience rather pleasant than a headache. Her deposition was friendly yet professional, when we needed to ask a question or needed her advise she was always a phone call away. During this time Donnice had to have knee surgery and yet she was still available and willing to work with us to buy this home! My family and I were grateful to have worked with a lovely realtor in the process of purchasing our first home, I would highly recommend Mrs. Donnice! Thank you for everything you did for our family! "