Buying and selling a home are among the biggest financial decisions made in someone’s lifetime. For homeowners who plans to buy a brand-new home while selling their current residence at the same time, the stakes are high and it is important to have a handle on your finances.
The Nevada Builder Trade In Program has helped hundreds of homeowners purchase a brand-new home from a builder-partner while selling their current home at the same time and keeping a watchful eye on the bottom line of both the sales price and purchase price.
“When you buy or sell your home, it’s extremely important to assess and understand your finances of each transaction because thousands upon thousands of dollars are at stake, and the Nevada Builder Trade In Program can help you do that,” said Robin Smith of Smith Team at Keller Williams Las Vegas, who operates the Nevada Builder Trade In Program alongside her brother, Robert Smith.
“When you’re selling your home, your end-goal is to sell for the highest amount possible. To do this, you need to have a solid understanding of the housing market, determine a realistic listing price for your home, and then market your home to get top dollar,” she said.
“Buyers, on the other hand, need to understand their personal finances in order to determine how much they can afford to spend on a new home, their down payment, and mortgage options. And, if you’re selling a home while buying a new one at the same time, these two processes become intertwined, which is why it is so important to work with experienced Realtors like the Smith Team.”
Through the Nevada Builder Trade In Program, the Smith Team helps clients make these financial determinations, starting with their first meeting.
“The first thing that we do with a potential client is visit with you in your current home and discuss your home selling and buying goals. During this meeting, we’ll assess your home and provide what’s called a ‘comparative market analysis,’ which offers you a potential sales price based on today’s housing market, your home’s condition and features, and recent sales prices of similar homes at nearby neighborhoods,” Robin Smith said, adding that the team offers ideas of minor, cost-effective improvements that may bump up the sales price like a paint job, re-landscaping or home staging.
The next piece of the financial puzzle is helping clients review their personal finances to determine the price range of a new-home purchase.
“Unless you’re planning to buy your next home with all cash, we’ll encourage you to visit with a reputable lender for mortgage prequalification. This process, which many lenders offer for no cost, helps you learn about different mortgage programs, how much you may be able to borrow and at what interest rates, mortgage fees, and how different scenarios impact monthly payments,” Robin Smith said.
“With this information at hand, we can help you in your home search, focusing on both what you want in your dream home and your budget.”
If a homeowner selects the Nevada Trade In Program, the Smith Team will help in their new-home search among the 100-plus floor plans of all sizes available at 50-plus builder-partner neighborhoods located throughout the valley. Current builder-partners include Beazer Homes, Century Communities, Pulte Homes, Woodside Homes and Sun City Mesquite by Del Webb.
After the brand-new home is selected, the Smith Team negotiates a contingency agreement with the builder and then lists and sells its client’s current home at a reduced commission, while offering the buyer’s agent the standard 3 percent commission. After the sale, the Smith Team helps arrange moving services or helps locate a temporary rental, if needed, between the sale of the current home and the completion of the new home.
To learn more about the Nevada Builder Trade In Program, contact the Smith Team at 702-460-5080, visit www.ISellLasVegas.com or inquire at a builder-partner neighborhood.
Homeowners interested in purchasing a home on contingency at a non-builder-partner neighborhood and receive benefits similar to the Nevada Builder Trade In Program should contact the Smith Team before starting their home search.