Bright Ayalingo 1. How was the transition to the new house. Did you have a house under contract during the same time the house was up for sale?. Am trying to gather ideas on how others have transitioned from house to house.
Since it had turned into a seller’s market, and fixer-uppers in good neighborhoods were flying off the shelf, we started looking for our next house about 3 months before we were ready to list our current home (going off the assumption that it would sell quickly). We didn’t expect to find anything so soon, and had a back up plan to stay with my in laws if we became homeless. We found a great opportunity fairly quickly. It was FSBO, and they had listed it on Zillow. It had been for sale for a long time for that market. Not sure if FSBO was scaring people off, or what. So instead of being homeless, we would have the opposite problem of owning 2 homes. Luckily, there were complications in buying it because it was an estate and a rental and there was some unpaid rent and zoning issues. It all got worked out and we closed on the new home just a week or two before we closed on our old home!
2. Did you sell this house yourself. I know you mentioned you had an open house scheduled. Are you licensed?. Am not licensed and considering trying to to "For Sale By Owner" route.
I am not licensed. We considered FSBO bc I am greedy and didn’t want to pay a realtor. But we decided that since it’s our first home, and we didn’t have a 100% clear idea of best price, we decided to hire the realtor who was helping us buy the new house. Other than have the photos taken, list the property online, and show up to the closing, she literally had to do nothing to sell the house. It sold in a couple days, before having an open house. We kicked ourselves for not trying FSBO, but in the end, might not have been able to get as many eyes on it as she was able bc of the mls. I’ve heard of low-service realtors who will put your house on mls for a flat fee, and do nothing else. In hindsight, that may have been the way to go. But if I wasn’t confident that the house would basically sell itself, I’d go the traditional route and hire a realtor.