Hello friends, Mark Gladue here, broker associate, listing specialist,  and buyer specialist with Lauer Realty Group.

Today I want to talk about buying your move-up home or downsizing into what might be your forever home. The reason it’s important to talk about this now is that we are in an extremely competitive market and you want to be doing everything to make yourself appealing to sellers. 

If you have a home sale contingency, it can be a little bit frightening. Knowing that you have to write an offer with that home sale contingency in there may mean that sellers pass you over because of all the other ‘less complicated’ buyers. Whether they be first-time buyers, cash buyers, whatever it might be, they won't have that home to sell, so you're put at an immediate disadvantage if you have a home sale contingency. 

So how do we, in this very competitive market, how do we help? We do what's called a rent back. 

So we get your house ready, we stage, we take professional photos, we take the virtual tour, we do everything we need to do then we put it on the MLS. After all that, hopefully, boom, within two to three days you have an accepted offer. Then what do you do about the closing date? That’s where the rent back comes in. 

So let's say the closing date is 21 to 30 days out, you’d then ask the buyers to rent back from them. So you close, you have the equity from your house, and then you rent the home you just sold back for 30 to 60 days while you find your new home.

The advantage to this is that you actually have the equity from your house and use it to you gain more leverage. And because you no longer have a home sale contingency in that time period after it's closed, you get to be in a competitive market again.

I know this can sound scary, but this is just one of the ways that we here at the Lauer Group can put our sellers in a better position to buy. We talk to our clients so they understand. And if they really are in a time where they need to move, we can help them with creative ways. If you have any questions, please reach out. 

And as always we're so glad you stopped by today.

Mark Gladue