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Richelle Plumstead’s Post

Richelle Plumstead

Licensed REALTOR/Broker specializing in residential real estate-RE/MAX East Coast Elite

2mo

Episode 4 - SOBP Seller's perspective Thanks for joining me for the 4th episode as we discuss "SOBP" Sale of Buyers Property. I do apologize that these ones are a bit longer but I am trying to cram a lot of information into each video 🤔 I'd invite you to watch the previoius 3 episodes if you are tuning in for the first time. This one will make more sense. I typically share situations that I am currently experiencing BUT I LOVE YOUR QUESTIONS! YOU are the reason I do these weekly videos. Buyer, seller, homeowner, wishing to be a homeowner, investor or even one of my peers... we all have questions. Movin' Up, Movin' Over or... Movin' Out! If you've got questions, I've got answers 🙂 I also invite you visit my website for a FULL resource library with DOZENS of FAQ videos of The #MOVINUPMINUTE and lots of other great info. Have an amazing weekend!

Transcript

Hey, hey, everybody, Rochelle Plumstead here, re/max these costly thanks for joining me. For this week's moving up minute, we're going to continue with our series about the *** P sale of buyers property. The last three weeks we've covered the overview, the basic details and from a buyers perspective. So this one's number four, we're going to go through from a seller's perspective. I invite you to look back through the other videos to get caught up. You can look on my Facebook page under moving up. Series 2024 or you can look on my website movingup.ca and get all caught up. So let's get right into it. So what you see below is on our agreement of purchase and sale. This is going to come into play if the purchaser has a property they want to sell prior to purchasing a new one. So from a seller's perspective, is this good to have? Is this not good to have? What are the what are the risks involved in accepting a conditional offer? So when this offer comes in, it's going to say this offer is subject to the buyers property located at they will give you the address. As a seller, you might want to find out a little bit more about that property because it might be on the market. Maybe it's not on the market, maybe it's not going on the market anytime soon. So this might be something that you would find interesting, umm, to help you decide whether you want to move forward with it or not. It is agreed and understood that the seller may continue to. Offer the sellers property for sale. This is really important. So unless you've negotiated otherwise, when you accept an conditional offer, it just kind of sits in the sidelines. Nobody knows about it. Your property is still being marketed by the listing agent on all of the websites that you've agreed to, all of the social media channels that still being shown. You're still trying to find a buyer that doesn't have a property for sale or even one that does that has that you can accept their offer as well. Have the conversation. With your realtor, this is really important because really there's no risk involved if you negotiate this contract properly. Here you want as a buyer, you do not want to meet or exceed another offer. As a seller, you want that to happen. If you come to an agreement with somebody that has a property that they need to sell and a new offer comes in, that's better in your opinion. That's not necessarily price. It could be that they don't have a property sale. It's a. Cash offer, there's no conditions, they're willing to close in two weeks. You want that other buyer that you've already accepted their conditional offer to meet or exceed that in your opinion. So this is important. This is an important negotiating stance here for both the buyers agent, the sellers agent and everybody involved. So again, have a really good conversation about that. This D is just saying how long they will give you once they remove their conditions to sell to close the property. So this again is something that's really important. You need 30 or 60 days to get everything packed up and moved out. You need to make sure that you don't agree to 12 days here. So again, these are all really important things to have conversations with your realtor about. But in my opinion, in my opinion, having a #3 having a sale of a buyers property is not a bad thing. You've got somebody motivated to purchase your property. They want to get their sold and they want to buy yours. So negotiate accordingly. Hopefully this helps clear this up. Next week I'm going to go through an overview all over again. Just to recap everything that we've talked about and hopefully this will help everybody moving forward because this is becoming way more common. If you're moving up, moving over, moving out, you've got questions, I've got answers. We will see you all next week. Bye for now.

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Happy Thanksgiving 🦃 Episode 5 - SOBP Things to consider when offering or receiving an offer As a buyer.... what should you consider when creating your offer? As a seller.... what should you consider when receiving a SOBP offer? Thanks for joining me for the 5th episode as we discuss "SOBP" Sale of Buyers Property. I do apologize that these ones are a bit longer but I am trying to cram a lot of information into each video 🤔 I'd invite you to watch the previous 4 episodes if you are tuning in for the first time. This one will make more sense. I typically share situations that I am currently experiencing BUT I LOVE YOUR QUESTIONS! YOU are the reason I do these weekly videos. Buyer, seller, homeowner, wishing to be a homeowner, investor or even one of my peers... we all have questions. Movin' Up, Movin' Over or... Movin' Out! If you've got questions, I've got answers 🙂 I also invite you visit my website for a FULL resource library with DOZENS of FAQ videos of The #MOVINUPMINUTE and lots of other great info. Have an amazing weekend!
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