{"id":18872,"date":"2021-05-17T11:36:27","date_gmt":"2021-05-17T11:36:27","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18872"},"modified":"2021-05-17T11:36:27","modified_gmt":"2021-05-17T11:36:27","slug":"fast-home-sales-leave-some-sellers-homeless","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/fast-home-sales-leave-some-sellers-homeless\/","title":{"rendered":"Fast Home Sales Leave Some Sellers Homeless"},"content":{"rendered":"

Fast Home Sales Leave Some Sellers Homeless<\/h1>\n
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Homes are selling quickly and that has caused a problem for many home sellers. With housing inventories at record lows and buyer competition strong, home sellers are finding it difficult to purchase a new home to move in to before they must leave their existing home. Some sellers are even declining offers on their current home because they can\u2019t find a place to move to, or they\u2019re exploring other options like short-term housing or asking for leaseback options.<\/p>\n

Nearly 60% of homes are going under contract within just two weeks, according to housing data from Redfin. Forty-six percent are sold in seven days or less.<\/p>\n

\u201cOne of the toughest aspects of selling a home in a hot market is what\u2019s next after the home sells,\u201d Matt Van Winkle, owner of RE\/MAX Northwest in Seattle, told Money.com. \u201cTiming a purchase and sale is incredibly difficult in most markets but especially when most sellers won\u2019t accept an offer contingent on the sale of the buyer\u2019s home.\u201d<\/p>\n

Many home sellers in this situation are asking for a leaseback or rent-back agreement after closing to allow them to stay longer to find a new home. This allows the seller to lease the home from the buyer for a set amount of time and pay the new buyer a daily, weekly, or monthly rate. Some buyers are waiving those extra fees to sellers in leaseback agreements to win a bidding war when they first negotiate an offer.<\/p>\n

It\u2019s increasingly becoming a trend, Gordy Marks with RE\/MAX Northwest in Seattle, told Money.com. \u201cI\u2019d say a third of the current contracts being written have a rent-back of some length\u2014usually free to the seller,\u201d Mark said. \u201cIf the buyer doesn\u2019t want to give the seller a rent-back, they just won\u2019t get their offer accepted.\u201d<\/p>\n

But these leaseback agreements can raise potential home warranty and insurance issues that both the seller-tenant and new buyer need to be aware of and ensure they\u2019re both covered for whoever is living in the property.<\/p>\n

Other options that sellers are exploring are moving in with friends or family or even renting a short-term furnished unit, like with monthlong setups through Airbnb, VRBO, or other similar property. They also may find more options from a traditional rental property with short-term or month-to-month leases. Home sellers can place their furniture in storage with a moving company\u2014usually averaging about $60 to $225 per month\u2014and then are living out of a suitcase until they find a new home.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cLightning-Fast Home Sales Are Leaving Sellers Stranded<\/a>,\u201d Money.com (April 21, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fast Home Sales Leave Some Sellers Homeless Homes are selling quickly and that has caused a problem for many home sellers. With housing inventories at record lows and buyer competition strong, home sellers are finding it difficult to purchase a new home to move in to before they must leave their existing home. Some sellers … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18872","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFast Home Sales Leave Some Sellers Homeless - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/fast-home-sales-leave-some-sellers-homeless\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fast-home-sales-leave-some-sellers-homeless\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fast-home-sales-leave-some-sellers-homeless\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Fast Home Sales Leave Some Sellers Homeless\",\"datePublished\":\"2021-05-17T11:36:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fast-home-sales-leave-some-sellers-homeless\\\/\"},\"wordCount\":457,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fast-home-sales-leave-some-sellers-homeless\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fast-home-sales-leave-some-sellers-homeless\\\/\",\"name\":\"Fast Home Sales Leave Some Sellers Homeless - 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