In North Carolina, some homes are being snapped up in less than 24 hours, and timelines for escrow are narrower.
Hello, OpenHouse readers!
My parents have been talking about leaving their suburban New Jersey home for years now. They're near retirement age, work from home, are empty-nesters, and struggle with the high property taxes. They know that now is the time to sell and move on to the next phase in life.
They've identified North Carolina as a place to retire, and have even narrowed down their next locale to a few towns near Wilmington. It's cheaper, warmer and they have friends in the area. They're ready to buy, and they do not want a mortgage. They intend to use the sale of their home in New Jersey to pay all-cash for a house in North Carolina.
So, what's the holdup? The major one is they need to sell before they can buy. And it's the buy part – especially the timing – that's tricky. In North Carolina, some homes are being snapped up in less than 24 hours, and timelines for escrow are narrower. In New Jersey, it might take a few months to close. It makes them very nervous. Should they rent? Get an Airbnb for a few months?
So, real estate agents, I've gotta ask: how are you helping clients navigate the process of selling and then buying in such a crazy climate? Do you have any best practices you can share? Email me at jkleimann@housingwire.com.
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