Thinking of Selling? Here are 3 Ways to Combat Low Inventory

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Thinking of Selling? Here are 3 Ways to Combat Low Inventory

On February 24, 2016, Posted by , In Selling Real Estate, With No Comments

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 looking to sell—whether to upgrade or find a new neighborhood—there are a few ways to combat the issue of low inventory.

1. Look to Buy First

In 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.

2. Think Outside the Box

Be 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.

3. Protect Yourself Legally

Each 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.

Personal Help for your Low Inventory Concerns

If you’re still concerned about low inventory please feel free to contact me at any time through my contact form or by dialing 213-797-7075.

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