Buyers Who Change Their Plans

Dear Monica: I just closed escrow on a property that I had planned to move into but my plans have now changed. How difficult would it be to resell this property and not lose money. Beth T.
Dear Beth: If you have just closed escrow and now want to resell, it will be tricky to do so and not lose some money. A new buyer will know what you paid for the property because it is now in the public record, and will be unlikely to want to pay a price high enough to cover what you paid for the property and any costs you will incur such as real estate commission, transfer taxes, title and escrow fees.
If I were you I would see how the spring market is and as soon as I know a comparable property has sold at a higher price than I purchased mine, I would quickly try to sell at the same price and hope that a buyer who may have missed out on the other property steps in and makes an offer. If you are patient and have a good agent, you could be successful.

Where would you like to go from here?

Every client relationship begins with asking the right questions. We meet with you and take the time needed to fully understand your current real estate situation and what you want to achieve.
Contact Us