We all know that the Portland-Vancouver real estate scene is a seller’s market in most neighborhoods. But, simmer down sellers….you still need an exit plan! Don’t just list your house and wing it. What are you gonna do when the transaction closes and you’ve handed the keys over?
I’ve spoken with several sellers in the last few weeks who are eager to take advantage of the seller’s market and list their house ASAP. But, they didn’t have a plan for what happens when escrow closes.
Are you planning to buy another home? Keep in mind, in this seller’s market that you will likely be running into competition. And, making your offer contingent on the sale of your home weakens your offer.
Are you planning to move in with family while you ponder the next move? It might be wise to make that move before putting the house on the market so it can show and shine.
No matter what your situation is, I recommend having two exit strategies in place that work for you BEFORE putting your home on the market.
Why shouldn’t you wing it? You’ll be negotiating from a place of emotion, and possibly desperation, instead of a rational and solid position. Don’t assume the seller’s market will always go your way. You still need to be strong and decisive.
The seller’s market isn’t going anywhere anytime soon. Take the time to plan your listing and your next two steps before hitting the market so that you are in control and in the strongest position.