"HOW A REALTOR CAN HELP YOU WITH A 1ST REFUSAL OFFER"

BY MEAGHAN KLEINSTEUBER - Buyer Specialist with the Liam Swords/Grenville Guardian Team

 

 

Quite often a buyer finds a home they love and want to buy but still have an existing home to sell. This is called a 1^st refusal offer because this buyer has an agreed upon right to purchase the property. With 1^st refusal situations the challenge is always should your client buy first with a condition to sell OR sell first and then seek to find their next home. There is not black or white answer for the question but it is important to remember a few key points.
 

MOTIVATION: Make sure you have a clear understanding of your motivation to buy or sell. What are you looking for? Be sure and discuss your specific need and wants with your Realtor, to ensue you understand all the options and what obstacles you could face. If you have very specific needs or wants for your next home selling could be ventursome. On the other hand, if you are highly motivated to make a move you may be willing to take on the challenge of selling your home FIRST to put you in a better position to buy.

COMMUNICATION AND EDUCATION: As in all real estate transactions, communication and education is KEY. When it comes to 1^st refusal situations, ensure you have a clear understanding of the challenges involved. For example you need to fully understand the possible risk of BUYING first, with no guarantee of a prompt sale of your home, motivation needs to be established.

GET CREATIVE: Now more than ever, you agent need to think creatively- Your agents main focus should be finding  ways to lessen their clients chance of risk and work alongside the cooperating agents to get the end result.

Ultimately these situations can work out for both buyer and seller, although they can have benefits and drawbacks for each.

In this ever-changing market it is imperative that Buyers AND Sellers have STONG, KNOWLEDGABLE AND EXPERIENCED  Representation to help them navigate through their options and help them accomplish the end result they hope to achieve.

Contact us today at Grenville Guardian and “ASK US WHY WERE DIFFERENT”