What comes first, the chicken or the egg? We'll be right back to talk about that.
Hi I'm Brenda K. Brenda Kielbratowski with Halifax Real Estate. This is
the channel we talk about everything and anything to do with your real estate.
So you know I know the title is kind of odd today. What came first the chicken
or the egg? Well this is where that relates to real estate? What comes first,
do I list my house and then find one. Do I find a house and then list my house
and it can be there's a couple things there but motivation is the big
one. So I'm going to tell you a little story here today I had like family A and
family B and actually I like using the term with real estate of right-sizing
because you know what is the right size home for you at whatever
particular time in your life. So, okay, so we've got our first couple family A
and they want to move to-- they were right size into a larger house, they had no kids
when they bought, their houses is in a really sought-after neighbourhood. They
had done amazing upgrades. So we knew if we list it's gonna sell right away and
you can't take a chance on being home. You can't sell your house and say, "Oh, I
don't, I have no house to go to." Ok, so based on their motivation and their
needs we went house hunting first. We had
everything ready. The pictures were done. Everything was
done. All I had to do was bang hit active for them.
So that's what we did. We went shopping. We
found a house, we secured it in terms favourable to us subject to the sale of
their home. So we get that through bang we had active on their home nine o'clock
in the morning six o'clock we've gotten accepted offer in our hand. We have
really tight on the dates of theirs so that we could remove their these the
condition of selling ours as quickly as we could on the other house and the
reason we want to do that is because when you go in conditional to the sale
of yours if someone comes along behind you and they don't have a house to sell
they can bump you. And again what would happen is we'd have accepted offer on
theirs, we get bumped from ours and again there you go, homeless. That one
worked out great. Second one, motivation is I just need to
get off this street. So here's family B. I sell
them into it. They're young, they're just married. They didn't care that it was a
busy road. It was close to all the amenities. Now 5-6 years later
they've got a family. They need the right size house for their family in the right
area on the right street. Okay, what was their motivation, "get me off this busy
street." I only want to buy in one area, there may not be a house for sale
in there when I'm ready when we get a buyer for ours. I will rent till I find it. So
that's exactly what happened. It was a little bit tough sell because it
was a busy road. We finally got a buyer that said, "yep, I'm
fine," actually young couple, no kids. And they went into a rental and we
waited and we watched that neighbourhood like a hawk
and sure enough about eight
months later up comes a house, street they want, quiet street, school district,
everything they want. Actually closes in a couple months. And I've been through it
myself - we want it - and again I was at the age where I was downsizing but I did
my right size because I actually went from a smaller higher story to flatter
layout so it's now the right size for me and right style. I wasn't sure whether we
want to build or whether we want it to buy but I knew, "get me off that busy
street" that I was on with all the kids, hockey nets, and the tricycles. I was
done. I wanted out further, rural and that's exactly what we did. So motivation is
your big big factor in how you do this. You have to plan it. You need
a strategy. You sit with your agent and say, "Okay here's the strategy." Have
your number one pick. Have a backup in case you get bumped and if someone comes
in and they bump you, you can't just say, "I'm waiving finance. I'm good. I'll try
carrying both." No, no. No, you must have a letter from the bank that says
you are financially approved before or without selling your previous home. So
that's how they work. We call them SOBPs.They are subject to the sale of the
buyers property. So what comes first the chicken or the egg? What comes first, find
a house, sell a house, list the house? What do you want to do?
I hope you found that interesting. It's very common to sometimes there can
be like domino effect of avout four houses on the go here, so. Halifax Real
Estate with Brenda K. I'm Brenda K. I hope you like our channel. We talk about
everything and anything to do with you real estate. Please like, share, subscribe
to our channel and we'll see you on next week vlog. I'm Brenda K. Cheers.
you