When Buyers are also Sellers, a Kristen Davis Report

When Buyers are also Sellers, a Kristen Davis Report

 

What do buyers do when they are also sellers?  And how do sellers proceed when they want to buy?  Although the most simple real estate purchase occurs when a first time buyer finds a property, it’s very common for buyers and sellers to both purchase and sell at the same time…even in the same day!

 

Kristen said, "Having this specifically happening, knowing that the beautiful center hall colonial on a tree lined Rutherford street would be perfect for the young couple looking to sell their local two family, we scheduled an appointment.  As we walked through the home their smiles  gave way to confirmation of their excitement.  Within minutes we were at ERA Justin Realty writing a contract, and the next day their offer was accepted!  Although this was fabulous news for the young buyers, they needed to act quickly to list and sell their house.

 

Maintaining a house well makes the listing and showing process easier and to sell more quickly. A warm, meticulously kept home sells faster when priced right, and this was the story of our buyers’ home.  Set in a convenient location their two family sold as quickly as the single family they were purchasing, and with the cooperation and professionalism of all involved the properties closed on schedule and in the same day!

 

Not just a matter of logistics and coordination, buying a home while selling a home can also take patience and flexibility.  Most buyers need to sell in order to purchase, so  their sale typically will need to occur prior to their purchase.  The buyers will need to empty their home so their buyer can walk through an empty property.  In our case the sellers were out in advance and allowed the buyers to store items in the garage of the new house.  Whatever didn’t fit went in the rented moving truck which would be unloaded after the second closing!

 

Benefits to selling first and buying second are that buyers know exactly how much they have netted from the first transaction.  Due to the sellers’ kindness they were able to get out in time for their sale to close prior to their purchase."

 

Ron Darby ERA Justin Broker said, “All across the nation, the most coveted award that can be achieved in business is the ‘J.D. Power & Associates’ award.  Only outstanding business entities are honored and receive this award. ERA Real Estate was the two time recipient for customer satisfaction for first time home buyers and home sellers.  This is an honor above all honors. Our team of sales agents exceed buyer expectations, and through their daily efforts this prestigious award has a home at our firm.  Continuing to grow, we are offering those who want a successful career in real estate to phone me for a confidential conversation.  Give us a few minutes and we’ll give you a rewarding lifetime career.”

Darby concluded, "To learn more, call Kristen and the ERA Justin Realty sales team at either of their two Rutherford offices at 118 Jackson Avenue or 57 Park Avenue by phone at (201) 939-7500, (201) 438-0588 or (201) 438-SOLD, and the firm's meet and greet Hoboken location. Additional real estate information is also available at the firms 1000's of homes websites at www.ERAJustin.com and www.ERAJustinRealty.com."

ERA Justin Realty’s Lee Schilare: How Renters Become Buyers

ERA Justin Realty’s Lee Schilare: How Renters Become Buyers

 

Nothing compares to the feeling of having a place to call home. However, most of us have felt frustration at seeing hard-earned money go into rent every month rather than a more permanent house payment. Renting is many people's first step toward homeownership, but what do you need to do to realize the dream of owning a home? Lee Schilare shares important insights for North Jersey Newspapers readers who want to become a homeowner.

“Sometimes, it's not the regular rent-money obligations but other expenses that are the main obstacle in saving. A whole debt-counseling industry has arisen to guide consumers in getting out from under what they owe. Smart saving, not depriving yourself, just ensuring stability and enjoyment over the longest term involves moves both major and simple, and can help prepare you for that first down payment."

Danny Simone, Lee's business partner added, "Financial planning, establishing a household budget and sticking to it, including a specific amount set aside for savings every month can get you to your home-affording goals sooner than you might have imagined. You may also want to meet with a counselor who can negotiate a lower rate and set a sensible structure for your repayments on credit cards, while advising you how to ease dependence on them. This not only gets you on your own financial feet, but helps keep your credit rating intact for the very home loan you hope to someday secure."

Lee added, "There are additional ways to start working toward homeownership. Some sellers will enter into a rent-to- buy agreement, in which part of the regular rent is considered an installment of the home's down payment, which, once built up, can help you obtain financing. Low-income renters may also qualify for federal "Section 8" vouchers which are paid to the landlord, subsidizing your rental expenses and helping you save for a permanent home.

Just as some renting options allow you to set funds aside, some types of purchases can help defray your costs as you fulfill the stepped-up obligations of homeownership. Pooling resources with other buyers to occupy a two-family home could be one; buying such a home by yourself and renting one half of it could be another.

Even if your economics remain challenging, there are low-down-payment mortgages, and other forms of financing for special circumstances, available to buyers who meet the right criteria. Our ERA Justin Realtor agents can help you navigate through these options, accessing financing programs. He or she can also identify what government help might be available, and generally counsel you on your readiness to be a buyer, and on what else you might need to do to get there. If you consult the right sources and seek common-sense strategies, then your every move in the renter's world can be pointing you home.”

Ron Darby, ERA Justin Broker added, “All across the nation, the most coveted award that can be achieved in business is the ‘J.D. Power & Associates’ award. Only outstanding business entities are honored and receive it. ERA Real Estate was a past recipient of ‘Highest Satisfaction for First Time Home Buyers Among Full Service Real Estate Firms.’ Award. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice. Call our team at (201)939-7500.