🎙 Episode 13: The Bermuda Triangle of Real Estate

You can’t buy until you sell.
You don’t want to sell until you buy.
And somehow… everyone expects this to go smoothly?

Adorable.

In this episode of Nobody Listens to Liz, we’re breaking down exactly how to navigate buying and selling at the same time — without ending up homeless, house-poor, or completely unhinged.

🎧 Listen now before your timeline spirals.
🔗 https://youtu.be/BU47W4VqB0k

#RealEstatePodcast #HomeBuyingHelp #SellYourHome #RealtorLife #NobodyListensToLiz #KentuckyRealtor

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Transcript

SPEAKER_00 0:15

Welcome back to Nobody Listens to Liz. I'm Leah Frederick. I'm Sierra Peluso. I'm Liz Eric Dykes. So today we're talking about the Bermuda Triangle of Real Estate.

SPEAKER_01 0:26

Tropical. I wish it was tropical. It would stop snowing outside and we were on a beach. Let's go. Ready to do it. I think your idea of finding a conference where it's warm. Record this. Maybe there's something in Hawaii. Oh, we should do li nobody listens to Liz in Hawaii. Oh God, that'd be lovely. That's on my list. We were supposed to go for my wedding, remember? Yeah. Yeah. We're still owed a trip. I wasn't part of that, but we are now. We are now. Travis and I have been married like five times. We can do it again. It is. It actually is.

SPEAKER_00 0:59

It's a great story because COVID was our main thing. So yeah, so which they celebrate their anniversary all month long. We're so great. We're so great for it. Anyway, uh, we digress. Today we're talking about the real estate Bermuda Triangle. What happens when you have to scary? Scary. You have to sell so you can buy. How do you do that? How do you navigate that kind of thing? So you don't do it alone. No, you definitely don't know.

SPEAKER_01 1:30

Get a realtor advisor.

SPEAKER_00 1:32

Yes. Well, and I will tell you that even though as a realtor, this is a scenario that I'm looking at personally. Like and it causes me great anxiety.

SPEAKER_02 1:40

Oh, yeah.

SPEAKER_00 1:41

Great anxiety. I mean, you guys have navigated it before, but no, you haven't? I have always just bought. Really? You've already then I sell. And then you sell.

SPEAKER_02 1:51

Because I am confident in what I know I can sell my house for. Okay. But I understand the average person is, you know, might not be like that.

SPEAKER_00 2:00

Okay, I'm average, and that's exactly how I feel.

SPEAKER_01 2:03

I think you are just an above-average human, just so we're clear. Leah's above average human. Leah might be a super human.

SPEAKER_00 2:10

No, it is very much a chicken and egg scenario. And it's still stressful.

SPEAKER_01 2:14

Oh, it's very stressful. I don't think I've actually bought before I've sold. But I've sold and then bought and I've helped a lot of people.

SPEAKER_02 2:22

And then I did actually buy before sold. One time I sold, lived in a camper. Really? And then while we were looking.

SPEAKER_01 2:29

A lot of people do that.

SPEAKER_02 2:31

Especially library.

SPEAKER_01 2:32

Yeah, especially like um right before the 2020 market, there was like three or four years there that a lot of people that was super popular. You'd go buy a camper because they were cheap.

SPEAKER_00 2:43

Yeah.

SPEAKER_01 2:43

Low interest. Go buy camper, sell your house, live in it until you decided.

SPEAKER_00 2:48

I will say, obviously, ideally you would not have to move and pack and unpack and all that stuff more than once. So, but yeah, it is a real why it's so hard because you're worried you're gonna be homeless. Yeah. You know, yeah.

SPEAKER_01 3:00

And it's the chicken and the egg. Like which one do you do first? How do you do it?

SPEAKER_00 3:04

How do you navigate what when what is the right timing? Yeah. So carrying two mortgages, moving twice. I mean, I really the whole idea of moving twice, yeah, I think is what repels me most. Like, oh my god, moving with the money.

SPEAKER_01 3:17

Well, and even if you had to move into a rental, a care short-term kind of thing. With family, whatever, you don't have to take everything you own, right? You're still gonna box everything up. Right. You're still just gonna take with you what you have to have. Yeah. And then you'll actually move. So not really. It wasn't all of our stuff.

SPEAKER_02 3:33

It was camper stuff.

SPEAKER_00 3:34

Camper, I mean your toothbrush and your bag and your underwear. So but it is. I mean, one of the things that it's not just one transaction you're looking at, it's two transactions. And why, I mean, you're already juggling, there's so much to juggle in one transaction, yeah, but you know, you're throwing that on another one kind of thing.

SPEAKER_01 3:53

So there's a lot of things that you can do to ease that, um, especially with a good realtor and a good lender. The lender is very important. Now, if you have cash to do it and you can go buy and then we can sell your house, no problem, no questions asked. Yeah, that's you're in a great boat, especially if you have a ton of equity, right? If you're part of the silver tsunami, which I learned that term today. I'm so excited she learned this term today. I like that term. I think it's I'm glad we could teach you. Yeah, you taught me something today. Um, but there's a few other things you could do. The leaning on the lender is really good too, because it might be the fact that they have a certain loan program. Like a bridge loan, like a bridge loan or something similar to that, where you are buying before you sell yours, but you've already got an appraisal on your house. You know what we're gonna sell it for. We have a game plan to get yours listed, and then we can also build in the time for you to buy the other one and get settled there. That's what your agent can do for you. They can actually build in that time. So let's say we are it's Leah, and we're gonna sell Leah's current house, but she needs to buy this other one, but she needs to sell before she buys. And they're in two different markets. Yes. So Leah's going to go to let's say Lexington. How about Louisville? Go to Louisville and purchase a house. Ohio. Yeah.

SPEAKER_00 5:14

Left there, been there, done that.

SPEAKER_01 5:16

But she still has her current home, right? When you're listing the house that you are selling, we want to build in some time. Yeah. So we are going to put those expectations right up front, right on the MLS to every agent and buyer that the seller needs 45 days post closing to move, you know, 30 days post-closing to move. Your insurance agent now, I feel like is the most important person in the decision of how much time you can take.

SPEAKER_03 5:46

Okay.

SPEAKER_01 5:47

Um, because that's the biggest issue, is your insurance will only cover you and your items for so long. Got it. Yeah. So it's up to the agent. They might say, you can have 60 days, you can have 30 days, because you, first of all, you will no longer own the house once you close. Right. So they're probably not going to cover you two months out. They might cover your contents, but they might not cover the house. The buyers should have an insurance policy on that house, but do they have the correct policy if something drastic happened? Right. And is it going to cover the house? Like we want to make sure you don't end up in a lawsuit. So we want to know what that insurance agent says about how long you can stay post-closing. So we're going to list your house for sale and we're going to tell everybody that looks at it, look, I am buying another house, but I need time to transition. Gotta have 30 days. Okay. So that when they're making their offers and stuff, they know that up front. And it's not a shock, it's not a negotiation tool. It's we we told you we need this. This is a fact. Yeah. This is a fact, yeah. Yes. So that's something that you could do that's really helpful, kind of eases you into it, gives you a little bit of time. Especially if you can go into that other market and find the house that you want. Right. We can get a game plan together. We can always let that seller know, hey, I'm I'm selling another house. It is or is it not contingent upon you selling your first house? Well, and that becomes part of the negotiation, right?

SPEAKER_00 7:13

Sometimes, yeah.

SPEAKER_01 7:16

Yeah. If you if you can buy without a contingency to sell, you're gonna have a much stronger offer. Yes. However, as the sell as the buyer and seller, you wanna be careful that you really listen to your agent and know that you can sell the house. Yeah. Because if you go buy one and then you want double what your house is actually worth, you're pricing it's in terrible shape. If you are unrealistic about your expectations, you could end up with two house payments. Yeah. But that's how you're gonna end up with two house payments for very long instead of um, you know, being able to transition through the process. We just have to be realistic and kind of know what we're doing. I've actually got sell sellers that are going through that right now. They bought a house um a few months ago. We're trying to sell the house that they have. Unfortunately, it was bad timing when we listed their house is when the market just stopped. Stopped. Yeah. You know, it's no fault of theirs, no fault of the house, nothing I did. The market just quit. It's picked up since then, um, and we're working on selling it now. What they're ending up doing is doing a pre-inspection. Ah, that's smart. So that's gonna help. We're gonna do a pre-inspection, we're gonna make sure the house is market ready, and then we're gonna go back to the market with it like that.

SPEAKER_02 8:34

I was gonna say, I would definitely, if you're going to buy without selling first, but you really kind of need to sell, is I would do an inspection on the house that you're gonna sell before you buy something. Yes. And make sure there's nothing leaking, there's no hidden cost, because that's the last thing you want to come up with.

SPEAKER_00 8:53

Well, and yeah, make it make sure your present house, your present property is ready for market. Yes, right. You know, and as ready as you can be. Exactly. I mean, I like I know with our house in Louisville, that it needs two major things still. And it's like, okay, we have to fix these things. And then we can technically start working with our lender and then go shopping and stuff like that. So but again, knowing your market, having a trusted advisor to help you with that.

SPEAKER_01 9:21

And there's good things that you can package with it, right? Like if you bought title insurance when you bought your house, let your agent know. Give them what information they need off of that so that the next buyer can get their title insurance cheaper, at least in Ohio and Kentucky. If you have purchased title insurance, that buyer can get it a little bit cheaper. That's a perk to the buyer. Yeah, wow. Learn something new every day. Yeah. If you get a pre-inspection, they know that they might still want their own inspection, but you've had it done. If you've had a survey, that would help because you can say, I've already had the property surveyed. Here you are, exactly.

SPEAKER_02 9:58

You can't get done in a week. Yeah, it's that's a big one.

SPEAKER_00 10:02

Usually five to eight weeks.

SPEAKER_01 10:03

Yeah, I would be talking to your agent and see anything and everything that you can do to make it the prettiest package so that when that sucker goes on the market, it goes.

SPEAKER_02 10:12

Yeah, it's ready to go. There's no hidden things that pop up.

SPEAKER_00 10:15

Mm-hmm. So I like those. So yeah, you have yourself first than buy, of course, having the clean finances, the strong buying power, and no double mortgage risk. So um, of course, the cons of that are temporary housing. Where do we go? Hey mom, can we live with you? With the seller dwellers, yeah, seller dwellers, yeah. Um, you know, and the possibility of moving twice. Now, buying with a sale contingency, depending on the market, you know. Uh I mean, certainly in 220.

SPEAKER_02 10:46

There's some markets that are um, you know, even though we're leveraging out a little bit, there are still some markets that that's gonna be extremely tough to get an accepted contract like that.

SPEAKER_01 10:57

Yeah, because other buyers can buy it without having to sell a house. So you could have the exact same offer. It could even be a little bit more money-wise, right, a little bit better terms, but they have to wait for you to sell your house. I mean, that's a big contingency. So you're gonna make your offer as attractive as you can to try to combat that. But some markets are just pretty unforgiving because there's so many people, they don't have to wait for you.

SPEAKER_00 11:21

How do you how do you pose an offer with that sale contingency on there that is attractive to that seller? Like, how much time do you give on that sale contingency? How do you make their offer more attractive?

SPEAKER_02 11:36

Well, I personally would avoid trying to accept one unless the house was literally we'll put this on the market as soon as soon as this is accepted, the next business day. Because I'm not waiting seven. If you have to, if I have to wait seven days for you to get your house ready, you're not ready to buy. Like you should be able to do that. You're not serious enough. Right. That's seven days off the market that we're just sitting waiting for you to get your house ready.

SPEAKER_00 12:07

What if you were representing this this buyer or seller who, you know, they have their house ready to market, but how are you gonna read how much time are you gonna give till such and such a date? You know, uh how do you pick the closing date? How do you pick those things? Because it's necessary to complete that contract. I mean, how do you what are the elements that you add into the contract to make it sure more attractive?

SPEAKER_01 12:32

I like what Sierra's saying about like I want to make sure that they are gonna put their house on the market if you're on the seller's side of it for whoever's purchasing the, you know, we'll have it on the market within 72 hours, like at least. Or it should already be on there if they're really serious, you know. Within 72 hours, that thing needs to be listed. Um, but as far as how long they have, that's really what you're looking for, is you can't make the sellers wait too long. So maybe you write the contract for 45 days and hope for the best. Maybe you go ahead and list your house and see what kind of um interest you're gonna have. Because if you've been listed for one or two days and you have a ton of showings, then we can be pretty confident we can write that thing for 40 days and we'll be okay. If you list your house and you have zero phone calls in the first two days, we probably need to ask them for 60 days or so, you know. So I think that having it listed will give you a little bit of more information. If you can't do that, then you're gonna have to lean on your agent to say how fast do you really think this is going to be able to sell in this market? How much time do we have to build in? And then you're gonna have to hope that that seller is okay with it.

SPEAKER_02 13:44

Um I would also add the house that they're wanting to buy, what's the timeline look like for those sellers? Right. Yes, if they have their motivation within 30 days, you're not gonna get it accepted if you write it for 60. Yeah.

SPEAKER_01 14:02

However, if their goal is top dollar and time doesn't matter, yeah, finding out what their motivation is.

SPEAKER_02 14:09

Yes, finding out what their motivation is, and if you write it for 60 days and then um you that's what the sellers agreed to, so they think they have two months left in their house. Well, then you put your house on the market, you get an accepted contract, but the buyers want to buy your house within 30 days. Yeah, it's how flexible are gonna if you go back to those sellers, are they gonna be flexible or not? So I think finding out the right.

SPEAKER_01 14:43

Well, and I think the the biggest thing is setting those expectations. If you're listing a house and you have to buy first, then you need post-occupancy and you need to put that up front. Yeah. If you're selling a house and time doesn't matter, let buyers know that. I would rather have top dollar than I would time. Send me your offers. You know, if I have to wait three months for you, but you're gonna give me $10,000 over list price, great. I'll take it. Yeah, you know, I mean, how much do you want that house? What do you, if you have the perfect offer for them, which isn't the same for everybody, doesn't mean that it's price. It could be all kinds of terms. Um, if you have the perfect offer for them, maybe they'll wait for you. You know, you communication is going to be the biggest part of that Bermuda triangle. Bermuda triangle.

SPEAKER_00 15:33

What about the earnest money or good faith money kind of thing? Um, and it's not necessary in Kentucky, certainly, or Ohio, correct? Um, and you know common though. It is very common, not to put anything down. Would you advise your buyerslash sell sellers to go ahead and put some skin in the game, so to speak?

SPEAKER_01 15:55

Yeah, you might make that a higher amount than you normally would for earnest money. You might make hard earnest money, you know.

SPEAKER_02 16:03

Yeah, um give it to the sellers if you can't sell your house. Tell them how serious you are about I'm gonna sell my house because I want to buy your house.

SPEAKER_01 16:11

I'm serious that your house is the one for me. I want it. I'm gonna put X amount of dollars down and I'm going to write you a check. Right. If, you know, if I can't close in 30 days or whatever, first of all, it's yours. Yeah. If I know skin, yeah, you can't. Yeah. Or I'm we're just gonna write you a check. You accept if you accept our offer within 36 hours, I'm gonna give you a check for X amount of dollars and you keep it. Yeah. If I can buy it, I will. I'm gonna do everything I can to sell my house.

SPEAKER_02 16:38

And that that goes back to what we were saying in the beginning. If you have your house ready to go, you have it pre-inspected, you know you're hoping nothing's gonna come up, you're a lot, it's easier.

SPEAKER_01 16:50

You're not hoping you're educated that nothing. Like there shouldn't be any surprise.

SPEAKER_02 16:52

There shouldn't be any surprises. Yeah. You know what you're doing would feel a lot more comfortable offering that.

SPEAKER_00 16:58

Yeah. Sweetening the pot. Yeah. Yes. I know when we sold uh Newport, you know, she ended up having to get a different loan and all changing.

SPEAKER_01 17:08

So yeah, the lady extended a few times and okay, write a check. Then she needs to give us hard earnest money. It goes straight to the seller. If she ends up never closing, the seller already has the money, they do not get that back. Yeah, that's what hard earnest money is. Um, and if you know, if she does close, great. Not only did they sell their house, but they got all that earnest money. Exactly. She was serious, and she did end up buying it, it took her a while. Yeah, but she ended up she ended up going through with it, and yeah, she was happy to pay to make sure she got her house. Exactly. And I've seen it remodeled now, and it's yeah, eventually and put on the market.

SPEAKER_00 17:43

I don't know if she sold it again, but she sold it for quite a bit more, which is great. So all right. So, what about uh the bridge strategy? You got HELOCs, bridge loans, cash-backed programs, things like that.

SPEAKER_01 17:55

Sure. There's no reason not to call your lender and say, hey, and use a local lender, somebody you can call up and trust and talk to and say, what are my options? You know, and you can talk to a few different lenders. What are my options with this? I I would like to buy before I sell, or you know, whatever I need, this is what I think I need to do. Can you tell me how to do it? Because there's also loan officers out there that have programs where if they do the loan on your house that you're gonna purchase, they appraise your old one. If it doesn't sell in a certain amount of time, they'll buy your house and they'll sell it themselves. You know, I mean, they're they're guaranteeing that. Now that's a very highly specific loan program. Right.

SPEAKER_00 18:37

A lot of moving parts there, too.

SPEAKER_01 18:38

However, you know, if you have a lender that'll do cool stuff like that, that's awesome. Yeah.

SPEAKER_00 18:43

Yeah.

SPEAKER_01 18:44

And your agent probably has good information on, you know, different programs.

SPEAKER_02 18:47

If you qualify for a bridge loan or any kind of program like that, I definitely think it gives you um a stronger offer. Yes. And so if that's what it takes in order for you to move, that's what it takes.

SPEAKER_00 19:00

Yeah. And then we've sell with post-closing, occupancy, the rent back. You sell, get cash, and stay in the home temporarily. Of course, the cons must be negotiated. That's why you use your agent for that. And requires a seller-friendly situation. And of course, I'm like, why can't they all be seller-friendly? Why can't they all be friendly? We all want to get to the closing table. It should be a win. Win. So so yeah, so in essence, the takeaway is there's no right answer. Um, there's just a right answer for your risk tolerance. And I think that is inevitably you are taking a risk, and oh yeah, that's that's the big thing. And I know, like with Mark and myself, he's not exactly the most risk tolerant. He's a little risk aversive.

SPEAKER_01 19:43

But we can negate a lot of that risk by getting a getting inspection, making sure we have all the information that we need, making sure that it's you've got your pictures, you've got your MLS ready, you've got everything ready to list that house. Yep. That minute, you know?

SPEAKER_00 19:58

Yep. Yep. So yeah, biggest mistakes, uh move up a buyer's is what we're calling ourselves, move up buyers make. Uh shopping aggressively before their house is ready. I don't know anybody like that. I don't know anybody like that. I don't know anybody who gets alerts from that already. And then I just ignore them. I'm I'm I tell myself that I'm just keeping an eye on the market, actually. Yeah, just seeing what they're doing. I'm just saying lying to myself. And I will say I did see one about a week and a half ago. I'm like, damn, that's one that checks the most of the boxes. And it was underpriced. And I was like, Time to get ready. Yeah, and I just told him, I said, this one will be gone in 24 hours, and it was. It was under contract in 24 hours. And I was like, all right, but yes. Um, overpricing your house because we need X amount to do this.

SPEAKER_02 20:48

Yeah, we need I want to get the most for my house. Yeah, yeah.

SPEAKER_00 20:51

We can't, or we can't get into that right now. You're unless you're timeline.

SPEAKER_02 20:55

You're not price, it's timeline. Yes.

SPEAKER_00 20:58

Timeline, it has to be more time specific rather than money specific. Right. So yeah, yeah. Um, of course, not talking to a lender about options.

SPEAKER_01 21:07

Um talking to a few different lenders. Like it depends on the programs highly for bridge loans and for specific loan programs. If you want to do something odd that is not like fit in the bottom dry mortgage. Yes. You need to talk to a few lenders, talk to your agent and see who they suggest is best in those areas. Yeah, those are because we all have our strong suits, especially like realtors. Yeah, lenders do too, right? Yeah. So we want to make sure you're talking to the right lenders that have the right type of programs for you.

SPEAKER_00 21:39

That's a good suggestion. So um, this is my favorite, and I will say I'm kind of woo-woo like this, assuming it'll line up magically.

SPEAKER_01 21:47

Yeah. I mean, I Well, you're gonna do all the right calculations. You don't want your right thing to do.

SPEAKER_00 21:52

You're gonna plan in advance and do all those things and stuff. But yeah, you know, I'm well, we all know I saw my house and walked in, there we go, bought it. So um yeah, I love the waiting to declutter until after they, you know, they found this, they find the house. No, no, no, you know, pack the stuff up, get it out there. So you can't, I love the sassy truth. You can't be a messy seller and a competitive buyer at the same time.

SPEAKER_01 22:17

Yeah. Right. Very true. Right. And please for if you're gonna sell your house, you want it to be in the condition that you want the house you're purchasing to look like. You don't want it to smell bad, look bad, be messy, yep, not clean, uncon unkempt, you know.

SPEAKER_00 22:33

Unkempt, yep, yep, absolutely. Okay, so here is our synchronized transaction game plan, step by step. Number one, get your numbers first. This is where you're talking to your lender to your current home equity estimate. What are the closing costs plus net proceeds? What's the down payment you need or cash to close needs? And your payment comfort range for the new home. That kind of thing. All right. So that's step one. Step two, pick your strategy before you fall in love with that new home.

SPEAKER_02 23:05

Yeah.

SPEAKER_00 23:05

Are you gonna sell first? Are you gonna do the contingent? Are you gonna do the bridge? Are you gonna do the rent rent back? All right. And your lender and realtor can help you with that's right on them.

SPEAKER_02 23:14

Because you don't have time to can't guess. Plus about we you don't have time to think about that when you find the house and you're ready to make an offer. That's right. You need to know what you're doing.

SPEAKER_00 23:25

That's right. So decide what you'll do when you find the perfect house tomorrow. Yep. All right, three, prep your home. As Liz said, like it's about to go on HGTV.

SPEAKER_01 23:35

In the prettiest package with a tied up ribbon that you can. All your documents, forms ready to go, pictures, houses clean, all the receipts of all the things.

SPEAKER_00 23:45

You know, have yeah, all the warranties, every have a binder on your house. If you don't have a binder on your house or a file on your house, this is the time to do it because it will make selling your home so much easier. Oh, you know what? We can we can give them that. That's a good idea, actually. Why don't we give them the house binder? The house binder.

SPEAKER_01 24:02

So DM just started that? Yeah. DM us house.

SPEAKER_00 24:06

How's that? And we'll help you get started with your house binder. The house binder. All right. Um, then line up your timeline. All right. So ideally your listing date, your target contract date, the closing window, what's desired there, and then your backup housing plan. Have a plan. Have a plan.

SPEAKER_01 24:28

A, B, C, and maybe even D. And you definitely want to lean on your lender and your um insurance, I'm sorry, your realtor and your insurance agent for that one. And it's funny you mentioned that you need to have a plan D because I've had people that sold their house, bought a house, had to be out of their house on a certain date. So they were moving into the one they purchased only to find when they got to the house, the people, including their kids, grandkids, and animals, were all still there. And they already bought it.

SPEAKER_03 25:03

Mm-hmm.

SPEAKER_01 25:04

They already closed. It was occupancy day, they were supposed to switch, and they said whatever those people bought in another state wasn't ready, so they needed a few more days. But they didn't compete. And they never said that to them. Didn't tell anyone, including me.

SPEAKER_02 25:19

But they and you know what? It's knock, knock, knock, this has happened to me twice. When people need to understand when you sell your house, it's a legal contract. You are even if you have occupancy for a couple days out of the house. You're not the owner, you are still not the owner of that house anymore. That ended when you signed the paper. So even if legally we're allowed to stay there a couple days or 30 days, you don't own the home. The owner. Yeah, you're a renter. Yeah. At that point.

SPEAKER_01 25:55

I'm sorry, I can just imagine they're exposed. So if anybody needs to know, there is a dog-friendly um hotel here in Mount Orub, Ohio. Good to know. In case you ever need to put clients up for a few days, or two sets of clients up within the same two years, I think. Well, I don't know. It's funny because they'll know who they are.

SPEAKER_02 26:14

In Kentucky, but in Ohio, we actually have a post-occupancy addendum. And it states that they will be out a certain day or certain time. And if they are not out that certain day or time, they will pay a set price per diem until they're out. But this is a new thing.

SPEAKER_01 26:34

Uh it's been around a while. Yeah, not this long. Unfortunately.

SPEAKER_02 26:42

But so it's already set up a plug. Like you hopefully your realtor has already had that conversation with you that hey, if you're not out after these five days that they're giving you, you're going to be paying $150 every single day that you're late. So you need to figure a way out. So yeah. Yeah, absolutely. And it should be what the other the new owners are going to be put out by being late, whatever they have to pay at a hotel.

SPEAKER_01 27:10

It should be or more. I just thought of another one that that happened. Really? Yep. The people were getting a divorce. It actually closed here in this room in Mount Norum. And the couple was getting a divorce. We they signed all the paperwork, and apparently at the closing table, uh, we asked for the keys of the house, and the wife said, uh, I'm not giving you my keys. I have 30 days to move out of my house. And we said, ma'am, it's in the contract that you signed. You know, this is today.

SPEAKER_02 27:40

Yeah, she had a different agent.

SPEAKER_01 27:42

Uh she had a different agent. Um apparently communication wasn't strong, or she just didn't listen. But the problem was she signed the contract, so the agent hopefully had gone over it with her, but in their divorce decree, it said if they sold the house, that she got so much time to move. So she just, I guess, assumed that that was in the contract. I wonder the agent probably had no idea. That's another Trump's.

SPEAKER_02 28:08

Yeah, that's an interesting point, though, because if that if that's a situation um that you're selling a house, that's a you know, death divorce, that's a popular reason to sell. Yeah. If you have some type of agreement like that in your divorce degree, your agent needs to know. Tell your agent that. Yes. That has to be in the sales contract, then. Yeah, it has to be referred to. And it wasn't, and nobody knew.

SPEAKER_01 28:27

The agent probably had no idea. Right, exactly. That's the maddest seller I've ever seen at a closing in my entire career. I'd be pretty hot too. Yeah, I gotta admit. Yeah. It was super fun. Wait a minute, I got 30 days. Whoa! Yeah, and it was my buyer's first house, her and her son, and they were so excited to go move in. Yeah.

SPEAKER_00 28:49

But we already put it our notice for we gotta be on the parental. Exactly.

SPEAKER_02 28:53

Well, and that's a mistake for somebody. Yeah, yeah. Someone's gonna have to pay to not be homeless somewhere.

SPEAKER_00 29:00

And now I'm curious of like how they how they negotiated that. So uh other thing there is number fine, write offers that match your reality, cleanest terms if possible, of course.

SPEAKER_01 29:11

And listen to your agent when they tell you this has to be clean and this is why they are trying to help you. They're not trying to spend your money, they're trying to set you up for success.

SPEAKER_00 29:21

Yeah, yeah, yeah. So here, here I love this kind of little thing. Real talk, how to choose the best option. What works for you best? Okay, how much risk am I truly able to handle and tolerate financially?

SPEAKER_02 29:34

Yeah.

SPEAKER_00 29:35

Um, how emotionally stable am I? Be honest. Be honest.

SPEAKER_02 29:40

While you're at a high risk, high stress level.

SPEAKER_00 29:44

Yeah. People react more. They don't think they react when they're stressed out. Yes, can I move twice without losing my mind? It may take medication, but yes, you can do it. And then different forms of medication. Different forms, yes. Would I rather win the next home or avoid disruption? So again, you need to, you know, consider what is the priority here, you know. Why are you moving? Why are you moving?

SPEAKER_01 30:11

What are your priorities and how are you best set up for success? Exactly. If you talk to your lender and your agent, they should really be able to help you with that.

SPEAKER_00 30:18

Yep. So again, it's not impossible buying and selling. No, it's not at all impossible. You got a good you you create a team to work with you to help you. You're not alone. You are not alone.

SPEAKER_01 30:29

Um, you don't want to do it alone. I don't recommend you do it alone.

unknown 30:32

Don't do it alone.

SPEAKER_00 30:33

You know, it's just a plan. And you don't pick the plan, you know, the market will pick one for you. That's an interesting be prepared. Be prepared. So, so yes. So be sure to DM us uh house for uh that little helpful guide. And in the meantime, if you have any questions or concerns, or if you would like to just commiserate uh about my stressful situation right now, you know, please drop us a line.

SPEAKER_01 30:58

If you have a great story about buying before you sell or any horror stories, just share them definitively at the sponsor.

SPEAKER_00 31:05

Just give just give them to me. I mean, I it's it's funny, actually, right now I'm in the middle of I call it the domino deal because um, you know, the buyers are selling theirs, and then they actually found a place before they put theirs on the market. So we did. We were with the contingency it would need to be in the market by such and such a date within, you know, it was actually less than a week. Um, and we had to, I was like, we have to hit this deadline or the deal's off, kind of thing and stuff. And we did. And then we found a buyer for their place and knock on wood, it's going very smoothly.

SPEAKER_01 31:39

I think that's the biggest thing in all real estate transactions is being upfront about expectations and communicating. Like if you have expectations or if there's something you need out of a deal, let your agent know and make sure that they're forthcoming with it, you know. Absolutely. Absolutely. Like I call for agents, I call every agent before I put in an offer and say what is most important to the sellers? Is there anything that they need? You know, because it might be as small as, well, you know, I know they're having a hard time moving their pool table. They could probably use a week after closing to be able to do that. Great. We can do that. We can do that, you know, or they're gonna have to move into a rental house because they're gonna build. Great. Do they need 14 days, 30 days, 45 days? What do they need? Because if you don't ask, you don't know.

SPEAKER_00 32:28

So find out what their their game plan is, what their priorities are, and go from there. So yeah. Well, hopefully this has been helpful. Um Let us know. Yeah, let us know. Uh let us know, and uh hopefully we'll see you next time on another episode of Nobody Listens to Liz. Hey, and by the way, let us know what you'd like us to talk about. We're all ideas.

SPEAKER_02 32:49

Absolutely, right?

SPEAKER_00 32:50

Nobody's listening. I don't know why about that. So I'm Leah Frederick. I'm Sierra Peluso, I'm Liz Eric Dykes. We'll see you guys next time. Bye.