One of the most devastating conversations you can have with a client is the one where you explain that the house of their dreams is no longer on the market. However, as a knowledgeable real estate agent, you know that a house is not entirely sold until all the paperwork and finances have been filed. So what happens if a client inquires about the perfect home for their needs, but that property is currently pending sale? Find out more information regarding houses that are pending sale and how to explain to clients that their ideal home may not be out of reach just yet.
What does pending sale mean?
In simple terms, pending sale does not mean sold. When a home is pending sale, the owner of the property has received an offer, but hasn’t closed. A house is immediately pending sale once a contract has been written up, but that doesn’t mean that the property has been sold. If inspections reveal more problems than anticipated or a better offer is suddenly on the table, that same house that is pending sale could be available to purchase again.
How to fight for a client’s dream home
There are a variety of methods that can be used to help your clients secure their ideal home if it is currently pending sale. The first thing that you should do is to contact the seller’s real estate agent to discover the true status of the house in question. Since many real estate agents show houses up until they are officially sold in hopes of receiving the highest offer possible, contact the seller’s agent and discover where in the negotiation process they are and make a case for your client.
If your client is comfortable in their finances and can afford to overspend for the home of their dreams, you have a legitimate shot at winning the house. While making an offer above the asking price can get the job done, there are less costly methods that can help you negotiate a deal. Offering to pay closing costs, waiving mortgage contingencies and allowing flexible moving dates can go a long way in negotiating an arrangement for a home pending sale.
If these methods fail, a personal touch can sometimes do the trick. If your client is dead set on making this house their home for decades to come, tell them to try reaching out to the seller. A simple hand written note or phone call does wonders in proving how much your client wants their dream home.
While it may seem out of reach, there are a number of ways that you can secure a house that is pending sale for your client. With some determination, extra funds and the right contacts, you can seal the deal for your client and negotiate the sale of their dream home, even if it is pending sale. For more information on the top real estate brokers in Las Vegas, contact Elite Realty today at (702) 835-5255.