• ‘Are You Negotiating With Your Builder? Then Here Are The Things You Must Know…’

Richmond VA New Homes

  • Home
  • Search
    • Search By County
    • Advanced Search
  • Market Stats
  • Our Perspective
  • Us
    • About Us
    • Our People

Which Comes First? The Purchase or the Sale?

By Rick Jarvis

Does A New Home Purchase or Sale Come First?In the good old days (2000-2007), ‘What if my house doesn’t sell’ was not overly concerning.  For the most part, if the house was in decent shape and even close to a decent price, it would sell shortly with multiple offers and with terms that were very seller friendly.  Typically, the most stressful part of the transaction for the seller was the speed at which the transaction was transpiring.

This is no longer the case.

It is not a secret that it takes longer to sell a home and the buying of today largely act with little urgency and great caution.  Negotiations that used to take hours now takes days and the every point along the way is much more contentious and tenuous than in the pre-crash world.  This lack of certainty and fluidity in the marketplace meaning that the ability to move up (or down) is much more challenging.

As Realtors, we are asked constantly how to sequence the transaction.  Do we put the house on the market now?  Do we try to buy a house first?  Do we use a Right of First Refusal?

The short and long answer is ‘perhaps.’

The best way to go about any housing change in the market is to ask one simple question – ‘Which side of the transaction is dominant?’  If you MUST sell in order to purchase, then put your home on the market.  If you PREFER to sell first, but are seeking to upgrade significantly, then the purchase decision is the dominant one and act accordingly.  Conversely, if you are downsizing, then the selling first still may be the correct decision.

It all depends.

With pricing and interest rates as low as they are, money is cheap and losing the perfect home (especially with the rapidly diminishing inventory) because you are afraid of making a few more mortgage payments on the one you already own may not be the wisest decision.  Stated differently, the best result usually occurs when both sides of the decision (buying AND selling) are viewed as one.


 

Other Articles on New Home Values

  • Examining the Dollar Per Foot Metric
  • Beware the 'Unique and Expensive'
  • What Does the Lot Offer?
  • The Popular Plans
  • What Does it Cost to Build a Home?
  • Hardwood Floors
  • Aging in Place
  • HOA/POA or Civic Association? Does it Matter?
  • Builder Warranties - Mandatory or Elective?
  • Track Versus Custom Builders
  • What Does 'Stick Built' Mean and Why Does it Matter?
  • EarthCraft Homes and Appraisals...Friends or Foes?
  • Lot Pricing in the Metro
  • Grey Oaks and Nuckols Road
  • Look at Models
  • Bad Lots
  • Investments versus Expenses

Other Articles on New Home Process

  • What Does it Cost to Build a Home?
  • The Dreaded Change Order
  • Building a New House from A to Z and then back to D.....
  • Builder Warranties - Mandatory or Elective?
  • Track Versus Custom Builders

Related Posts

Filed Under: Insider Perspective, Process, Values Tagged With: Process, Value

804.767.7566


Link to One South Realty's New Homes Team Bios

How Do I Schedule a Showing or Find Out More?

I am Kendall C. Kendall, Client Care Coordinator for the team. I am a licensed Realtor and it is my job to answer questions and schedule showings for the properties shown on our sites. Here's our call policy.

kendall@richmondvamls.net

Sarah Jarvis, Founder One South Realty

Working With Buyers

I love new homes...always have. In my 20+ years in real estate, I feel lucky to have seen nearly every aspect of the building business close up. From design and permitting to development and finance, I have been involved in every facet of the new construction process. If you are considering building a new home, don’t go it alone. Spend a moment on our blogs to understand the depth of our knowledge about Richmond's new home market.
sarah@richmondvamls.net

Some of Our Thoughts

Lot Pricing in the Metro

By Rick Jarvis

For anyone who is an investor or Realtor, 2008 to 2010 has been hard. Property values have plummeted. The buying marketplace was somewhere between skittish and petrified. Lenders panicked. Every deal was difficult. But I have more than one time thanked my lucky stars that I was not a home builder. From the period of […]

More Posts from this Category

Popular Searches

  • Founders Bridge
  • GreenGate
  • Grey Oaks
  • Hallsley
  • Magnolia Green
  • Tarrington
  • The Highlands
  • RounTrey
  • New Home Lots

Find Us

One South Square Logo

2314 West Main Street
Richmond, VA 23220
804.767.7566
kendall@richmondvamls.net

Accessibility
Copyright

Lending

C&F Logo

We offer competitive mortgage solutions with a commitment to exceed your expectations. We’re local industry experts who are also your friends and neighbors. Whether you want to communicate online or in person, we’re just a call or click away. https://onesouthrealty.com/mortgage-financing/

Tweet

  • Just now

Our Network of Sites: RichmondVaMLS.net, RichmondVaCondos.net, RichmondLuxuryNeighborhoods.com,
RichmondFanRealEstate.net, RichmondVaMLSSearch.net.
Housekeeping: Sitemap, New Home Listings Sitemap, Disclosure


All of the information displayed here is deemed to be gathered from reliable sources but no warranties, either express of implied, are made part of this site. Additionally, the IDX Feed for listing information may contain descriptions of properties not represented by One South Realty, its agents or staff and any violations or misrepresentations are the sole responsibility of the listing brokerage of the subject property in violation.


Equal Opportunity Realtor Disclaimer

I agree to provide equal professional service without regard to the race, color, religion, sex, handicap, familial status, national origin or sexual orientation of any prospective client, customer, or of the residents of any community. Any request from a home seller, landlord, or buyer to act in a discriminatory manner will not be fulfilled. test