Program helps new-home buyers sell their old houses

Homeowners eyeing new-home construction sometimes have hopes of moving to a brand-new home built to their specifications but wonder “how” they can realistically make that happen.

Should they sell their existing home first and then sign a contract to build a new one, or should they take the riskier approach of listing their home for sale and signing a builder contract with fingers crossed that transactions will align?

The Nevada Builder Trade In Program offers another option: Purchasing a new home on contingency.

The program enables a homeowner to commit to purchase a new home from a homebuilder partner and list their home for sale while their new home is under construction. The program is offered nationally by the Keller Williams International and operated in Nevada by Robin and Robert Smith of the Smith Team at Keller Williams Realty Las Vegas.

“The Nevada Builder Trade In Program removes an invisible barrier that prevents some homeowners from pursuing the purchase of a brand-new home — the uncertainty of finding a builder who will build on contingency and of selling their current home within their new home’s construction timeline,” Robin Smith said. “This program creates a path for homeowners to sell their current home and buy a brand-new one at the same time while assisting homeowners step-by-step through the process.”

The Nevada Builder Trade In Program has grown over the course of four years and is offered at more than 50 Las Vegas Valley neighborhoods constructed by Beazer Homes, CalAtlantic Homes, Century Communities, Pulte Homes and Woodside Homes, as well as at Sun City Mesquite by Del Webb.

“Our real estate market’s sales prices have changed significantly over the past few years. Many are no longer underwater in their current mortgages, and they are now able to sell their home with equity and re-invest that equity into a brand-new home,” Robin Smith said.

If a homeowner is interested in the program and buying a home at a builder-partner neighborhood, the Smith Team will help the homeowner at no cost by:

• Providing a comparative market-analyst, which details their current home’s projected sales price.

• Advising on what to do in terms of repairs and updates to increase their home’s sales price.

• Reviewing the equity available if the home sells at different price points.

• Assessing their ability to purchase the new home if their current home sells at the projected market value.

“Taking the time to review all of these financial factors is important when making an informed decision as to whether to buy a new home. My brother, Robert, is a CPA with 19 years of experience as well as a Realtor. He offers a financially focused perspective in helping homeowners determine the amount of equity they will have from their home sale and if the home they want to purchase makes financial sense after they pay off their existing mortgage,” Robin Smith said.

If a homeowner selects the Nevada Trade In Program, the Smith Team will list, market and sell the client’s current home at a reduced commission while offering the buyers’ agent the standard 3 percent commission. This can save a seller $6,000 on a $300,000 selling price, a significant savings without sacrificing any service.

Additionally, the Smith Team will help arrange for moving services or help locate a temporary rental, if needed, between the sale of the current home and the completion of the new home.

“Our focus is selling your home for max value while you buy a brand-new home on contingency. We do this by helping you prepare your home to sell for the highest price possible and listing your home at a competitive sales price,” Robin Smith said, adding that homes typically sell between 30 and 60 days. “If spending a few thousand dollars in updating your home means that you can sell your home for $10,000 more and quicker, you should make those updates because you’ll have more money in your pocket at the end.”

For additional information, visit smithteamlasvegas.com or call 702-460-5080.