How to sell your current home before you find or move into your new home

from VOLUME 26, ISSUE 15 • AUGUST 1, 2023

A Journey Through Time: The History of Fish Camps in the Lowcountry

By Larry Stoller CONTRIBUTOR

In a perfect world you would sell your old home, buy a new home, close on the old before the new, have your proceeds in your bank, leave the old keys, get the new keys, and make one move from your old home to your new home. Easy, peasy, right? Except for one thing, the world is not perfect.

Here are some suggestions that may work for you (your resourceful real estate agent may have some ideas as well):

Your best friends

If it’s a short stay maybe you can stay with your best friends, who have that large house and love your company. That might work if there’s just one or two of you. Two other downsides are storing your stuff and that dreaded double move.

Your family

Staying with your loved ones is another option, and it might be like an extended vacation hanging out with your brother, sister, or adult children for a while. You would still be dealing with the storage and moving twice.

House Sitting

Some companies specialize in facilitating house sitting arrangements (you can find them online). If you have the time to check them out, you might find one not too far from the location of your new home (could be free or even paid).

Short-term rental

How about renting a furnished apartment, townhouse, or single-family home? That might be perfect, so you can look for your new home with no time stressors and/or stay in a great place in a great location until your new home is ready.

Flexible closing date

Here’s where your resourceful real estate agent can really help you. When negotiating the terms on the offer for your current home, you can negotiate a flexible closing date to give you time to find, close and move to your next home.

Leaseback agreement

Even with a flexible closing date, if needed, you could add a leaseback agreement for a specific period of time (rent would be paid to the new owner that covers the costs of owning the property while not living there for a period of time).

I have worked with Sellers and Buyers many times utilizing flexible closing dates and leaseback agreements that resulted in a WIN-WIN agreement for both of them.

Larry Stoller is a local Broker-Owner and Realtor of Real Estate FIVE of the Low Country. Visit www.Realestatefive.com, larry@ realestatefive.com.

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