Kudos to Sylvia for breaking it down - the timeline she provided was EXCELLENT. Once you do the math, and assuming you sell immediately after listing you have a couple worry free days in a suite hotel to do some shopping for new furniture and window treatments!
Who's giving you good advice? Which one gives you the confidence that he/she will sell your home? If the answer is "neither" go shopping for another choice.
Get someone who will explain the absorption rate in your particular neighborhood and get the skinny on the average "days on market". This will determine if two months is enough time one way or the other...
I am SO glad that you gave all the details about your question. Nowe I can answer it. I think it will depend on your market. I am in Marin, usually a very hot market, but it has slowed down some. How's Austin's market? Still super hot?
Anyway, since you have 2 months before you have another place to live and you have not even put your house on the market yet, I would not worry too much about having the bueyrs move their move in date.
By the time you put your house on the market assuming it's two weeks from now, and assume you get into escrow within a week; the norm to close an escrow here is about a month if we don't rush it, then you are very close to your moving date.
When you have a contract in hand, then depends on how close you are to your move in date, you can eitehr counter the close of escrow date to your move in date or you can put in a clause saying that you want to reserve the right to potentially rent back the property until your move in date. Also, if the dates you gave in your question is accurate, you will be close to your move in date, you just might want to get a hotel and stay there for a few worry-free days to relax after all the stressful time!
You might want to make sure your builder is ontime.
Put your home on the market NOW! Price your home to SELL.
I do not know who is giving you good advice. You say you have only two months? Price it to sell now! cross the closing date bridge after you have a offer.
Go with the Realtor who offers the most service. Go with the Realtor who has a plan. Go put your house on the market, tomorrow!
First, they are giving you good advice in that they are recommending that you put the house on the market now. But their answers as to what to expect from buyers is misguided- moving the date out is a non-issue for you at this point.
Let's say you put your house on the market tomorrow. As others have mentinoed, the Austin market has slowed recently. Unless you are pricing your house very competitively you likely won't see an offer right away. So, assuming you are pricing your house in the middle of the road, ,lets say you go under contract in 30 days. The buyers might ask for a close date about a month out- but they might even ask for longer.
Ultimately, the soonest you should realistically expect your house to close would be two months- just in line with your move-in date. It may be longer. That is a concern you should address with whatever realtor you choose as well.
I don't know if that helps you choose between these realtors. They ultimately should be able to help you leverage your goals (avoiding two mortgage payments, selling as quickly as possible, getting the most money for your house) against current market conditions (inventory on market, absorption rates, etc)
I would say that in a good market, your house may not be ready to close in 60 days. You will most likely not be concerned with the closing date being to early. You may find it not here quick enough. Even strong markets are feeling a little sluggish these days. I would not think you would need to worry about a lower price. If you listed tomorrow and got a contract it usually takes 30 days to get to closing. You would be asking for less than 30 more days. It is not like you are asking for 6 months. Unless that are involved in a transfer from another area, most buyers won't see that as a hurdle! I would negotiate it up front though so they know your terms. I would even have the listing agent put in the remarks of mls no closing before X date
Fewer potential buyers = an effect on price! So, both Realtors have a valid point. However, I don't believe
the risk to you outweighs the benefit. You have a move-in date for your new home, so either ask for a
close of escrow date that coincides with that, or ask for a rent-back from your buyer so that you can stay
in the home until your new home is ready. The cost and inconvenience of two moves trumps the other issues, unless the buyer makes you an offer you cannot refuse.
You do not know when an offer will arrive.
It could sell tomorrow or 6 months from now. When the offer comes in be prepared to negotiate. Ultimately it would be far better to have your buyer in hand. If you cannot reach agreement on occupancy consider a double more.
If you new house is ready and you do not have a buyer can and are you able to close on the new house?
I hope this helps, and REALTORS please don't thumbs down this. ABC is genuinely confused.
I would list it for sale sooner than later. With the issues with the stock market the pool of qualified buyers has shrunk slightly. Also the mortgage lenders have tightened up on loan requirements, so you may need more time to find a qualified buyer. Just because you go under contract does not mean you have to "close" the deal imeadiately. Some buyers will agree to wait 2-4 months to close the deal to please the seller. Waiting a month to close does not mean you should give up the farm. The point is it is all about negoitating the deal you want. That is part of what your Realtor should be doing for you. Please call me if I may be of service to you.
Betina Foreman- Realtor Austin Texas