Downsizing

Oh the pain in downsizing. You have lived in this home for years. It’s loaded with collected treasures. It’s also loaded with things you know you must shed. The kids are gone and want to return at will. Just the thoughts of selling it and downsizing are challenging. You don’t want to do it.

Yet, you do want to downsize, in fact you need to downsize. The yard is either showing neglect or not neglecting it is help your age show even more. The idea of lock and leave sounds amazing. The idea of downsizing is more than appealing, it is exciting.

The conflict still exists and to top it all off, how do you handle the logistics of it all? You want to sell but you don’t want to sell until you know where you are going.  Maybe you should pay cash but should you? How do you make it all work so it isn’t stressful?

Here is the good news. If you are downsizing it might be to a condominium. Homes in most price ranges are going fast. Condo’s are selling but not as fast. A good agent can make the transition workable. I use a recent, very recent situation to illustrate. A couple I met at one of my open houses have reached the point that they believed that they should downsize. They want a condo, a lock and leave situation, as they want to volunteer elsewhere for a year and a half. We found their purchase and I was able to persuade the seller to accept not only a contingent sale, but my sellers wanted three weeks to get their home ready. Because I was sure their home would sell fast their new sellers accepted our terms. We recieved a full price offer on their home Saturday, the day after we went on the market. To make it even better they have two days after the closing of their existing home to move out. They can directly move from their home to the downsizing condo. Happy Happy Happy. By the way, we sold their home for $34,950.00 more than they first thought we would.

They will have enough cash from their equity to pay cash for the new condo. Downsizing clients often can do that. However there are a couple of very legitimate financing options that work should you who are downsizing not want to pay all cash and do not have the situation to buy contingent on the sale of your existing home.  If you are thinking of downsizing I would be glad to assist you in making the right plan. Kathleen and I have done the downsizing thing a few times. I know, we are crazy, our kids would agree, but after all, we love real estate.

Posted on January 15, 2018 at 6:38 pm
Larry Cragun | Category: Condominiums | Tagged , , ,

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