Developing a well-thought-out plan is important before jumping into the real estate market as a buyer or a seller. A home shopper should know what type of house they want or how much they can afford, and a home seller needs to know how much they want to sell their home and what they need to do in order to sell it.
When a homeowner tries to tackle both aspects — sell their current home and buy a new one — at the same time, strategy is key because the process can be a bit confusing.
Robin and Robert Smith of Smith Team at Keller Williams Realty Las Vegas has helped hundreds of homeowners sell their current home while purchasing a brand-new one on contingency from Southern Nevada homebuilders through its Nevada Builder Trade In Program.
“When someone buys and sells a home at the same time, it can be really stressful because the process is confusing and there’s so much money on the line. It’s really important to develop a well-thought-out strategy before hanging a ‘for sale’ sign in front of your home or visiting any sales offices, and the Nevada Builder Trade In Program can help you do that,” Robin Smith said.
The contingency program follows a strategic approach designed by Keller Williams International with focus placed on realistic pricing, home preparation, financial assessments, negotiating with homebuilders and customized services.
“There are many things to consider before listing your home for sale or signing a purchase contract on the dotted line with a builder. First, you should take the time and decide if buying a brand-new home makes financial sense. There are many factors like your income, other personal expenses, savings and how much equity you may have after your current home sells,” Robin Smith said, adding that her brother, Robert’s, experience as an accountant and real estate professional helps clients weigh the financial pros and cons of selling a home and how much they may be able to afford in a new home purchase.
To help answer these questions, the Smith Team provides homeowners interested in the program at no cost a realistic comparative market analysis — a projection of what their home may sell for based on recent sales of nearby comparable homes — and an assessment of which repairs and/or updates can be done that may increase the sales price.
“Receiving a realistic comparative market analysis based on today’s Las Vegas housing market is an important piece of the financial puzzle. Many of our clients are surprised at how much they may realistically sell their home for these days in our continuously changing real estate market, and many are excited to learn that they may be able to up the price further by making strategic, cost-effective improvements like re-landscaping, painting, replacing worn carpet or staging,” Robin Smith said.
With this information, a homeowner can determine how much equity they may have to purchase a new home and the ultimate price tag of a home they can buy.
If a homeowner selects the Nevada Builder Trade In Program, the Smith Team can help them in their new-home search focused within their designated price point.
“We’ll help you narrow down your home search based on the price point, your family’s needs, home design preferences and desired location. We can introduce you to neighborhoods with homes that meet your specifications, and where you can choose your specific home and home site and buy it on contingency through the Nevada Builder Trade In Program,” Robin Smith said.
Clients may choose from more than 100 floor plans of all sizes at 50-plus neighborhoods constructed by builder partners. Homes are in various stages of construction, ranging from empty lots to mid-construction and standing inventory.
After the homeowner selects the new home and the Smith Team negotiates a contingency purchase agreement with the builder, the team lists and sells the 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 and the program’s builder partners, contact the Smith Team at 702-460-5080 or visit ISellLasVegas.com.
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.