Many potential sellers find themselves paralyzed by a familiar misconception: if I list my home before I’ve found a new one, I’ll have to move out before I’m ready.

In fact, the current homeowner is in control of the entire sale process, including not only when it gets listed, but what offer gets accepted, and under what conditions. Home sale negotiations don’t just happen around price; they happen around all kinds of terms, including the closing date and/or the seller finding the new home they want.

There are a number of ways sellers can put protections in place to make sure they have plenty of time to make the transition to the perfect new home. A few of these protection options include:

1. MLS Disclosure: The MLS listing disclosure will state that the transfer of your home to a new owner is “subject to seller finding a suitable replacement property.” This practice has actually become quite common over the past few years, particularly in markets (like Maui’s) that are experiencing a period of low inventory. Based on this type of disclosure, any agreement reached between a seller and a buyer would include similar language in the purchase contract.

2. Delayed closing date: Although buyers might generally expect a timeline of two to three months for closing, many sellers in tight markets find that they can push a closing date out as far as four months. Particularly in low-inventory markets, when buyers find the property they want, they’re willing to accept a slight delay in having the keys handed over.

3. Rent-back agreement: This method has become more popular in recent years, and might be used most often by sellers who need the proceeds from the sale of their current property to qualify for a new home purchase. The agreement would allow the seller to remain in the home until they find the new home they’re looking for, while either paying rent to the new owner or having fees deducted from the sale price for an agreed-upon amount of time.

It’s important to keep in mind that buyers will wait, when they’ve fallen in love with a home and they know they’ll end up with it if they can just show a little patience. Reach out to the Romvari Realty team today, to talk to us about these and other methods for getting your home sold exactly when and how you want.