When I put my client into escrow on her new home, the sellers needed to find a replacement. It took 3 months. By the time it closed, she gained 30K more in equity.
I put my buyer Danielle into escrow with this single family home in La Mesa in the middle of December for $450,000. The only issue was, the sellers needed to find a replacement property. This scenario isn’t new, matter of fact it used to be the norm way back when.
So, we agreed to give them till March to find a replacement considering the Holidays were coming up and their price point was in the $800’s which makes it more difficult.
Well, they used most of the time since we didn’t begin the whole escrow process till February when they found a home.
Considering the time that had passed, the Real Estate market doesn’t stop… Prices went up. The home that Danielle was contractually buying at 450K is now estimated to be worth 30K more. That’s INSTANT EQUITY and that’s nice!
Congrats Danielle!
If you’d like to find out how I can save you money whether you are selling your home or looking for your dream home, please contact me so I can run down the entire process for you.
