What happens if I can't sell my current home fast enough?
Answered by Chris Deutsch, Founder & Editor
Licensed Minnesota Realtor #20382264 ·
The short answer
This is the fear that keeps every buy-sell client up at night. And it's a reasonable fear — if you don't have a backup plan.
On stage The 60-second answer
Captions on · Transcript below
The stage is set.
Chris's video answer is on its way. Until then, the short answer above says the same thing.
The transcript posts with the video.
The longer answer
Here's your three-step safety net
Plan A: Price it right from the start. The #1 reason homes don't sell? They're priced too high. I price to create competition, which usually means pricing slightly below what the seller 'wants.' A home that's priced right sells in 2-3 weeks. One that's priced high sits for 2-3 months.
Plan B: Reduce price quickly if needed. If we haven't had showings in 10 days, we adjust. No ego. No 'let's wait and see.' The market told us something, and we listen.
Plan C: Temporary housing bridge. If your new home closes before your old one sells, you have options:
- Short-term rental (extended stay hotel)
- Storage unit for belongings
- Negotiate a delayed possession on the new home
- Bridge loan to carry both payments temporarily
The mistake I see most often: Sellers list too high because they 'need' a certain number to make the buy work. The market doesn't care what you need. Price it right, sell it fast, move on with your life.
In 25 years, I've never had a client who priced correctly fail to sell. The ones who struggled all had one thing in common: they priced based on what they wanted, not what the market said.
The next department over
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From the editor's desk
“As Founder and Editor, I review, correct, and stand behind every answer.”
Is your situation more specific than the market? That's the one worth talking through.