The summer Las Vegas real estate market is bustling with an influx of home shoppers visiting new-home neighborhoods and model homes. For current homeowners who discover the ideal home design and home site, their thoughts often turn to the logistics of “how” they can buy a specific home under construction when they already own a home. Questions about the home-buying and home-selling process often ensue.
The Nevada Builder Trade In Program assists homeowners who question “if” they can purchase a home from a builder while they sell their current one and provides a strategic process of “how” to do that.
“The Nevada Builder Trade In Program has helped hundreds of homeowners purchase a brand-new home on contingency from a builder-partner while they successfully sell their current home,” said Robin Smith of the Smith Team at Keller Williams Las Vegas, which launched the nationwide Keller Williams program in the Las Vegas market in 2014.
“For many current homeowners who want to buy a new home, they know that they can’t afford to have two homes, but they are confused about what to do. Do they sell their home first with the hope that the new home they fell in love with will still be available? Do they try to sign a sales contract with the builder and then sell their current home after the new one is built, hoping that it sells quickly and at a specific price? The Nevada Builder Trade In Program addresses these questions, removes the confusion and allows homeowners to sell their current home and buy that ideal home on contingency while following a very straightforward process.”
The Nevada Builder Trade In Program’s multifaceted strategic approach begins before a homeowner signs a contract to buy a home at one of the program’s 50-plus participating neighborhoods constructed by builder-partners Beazer Homes, CalAtlantic Homes, Century Communities, Pulte Homes and Woodside Homes, as well as Sun City Mesquite by Del Webb.
The first step for current homeowners who would like to purchase a home from a participating builder’s neighborhood is to meet with Smith Team to discuss their goals and to devise a plan. The Smith Team offers at no cost:
• A comparative market analysis as to how much the homeowner’s current residence may sell for and an estimate of their current home’s equity;
• Advice on how to prepare the home for sale and home improvements to potentially increase the sales price; and
• Guidance to help current homeowners assess their ability to purchase the new home if their current home sells at the projected market value.
“The program has been successful because of its strategic nature. Projecting a realistic sales price during the comparative market analysis based on the current market is crucial in positioning it to sell. Equally important is asking the homeowner to prepare their home to sell, to declutter and paint, and to make minor cosmetic fixes that may increase the sales price. These things are important in determining if selling your current home and buying a new one makes financial sense, and they should be considered before moving forward with any home purchase,” said Robert Smith of the Smith Team.
If a homeowner decides to sell their current residence and purchase a brand-new home at a builder-partner neighborhood through the Nevada Builder 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.
According to the Smiths, homes typically sell in 30 to 60 days through the program.
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.
Interested homeowners can connect to the Nevada Builder Trade In Program by visiting a builder-partner new-home neighborhood or contacting the Smith Team directly at 702-460-5080. For additional information, visit www.smithteamlasvegas.com.
In June, the Nevada Builder Trade In Program expanded to Reno, where it follows the same strategic process as in Southern Nevada.