Sell Your Minneapolis St Paul MN MLS listings or the Agent will Buy it
Quote:The "guaranteed sale" was a safety net and it let them make a noncontingent offer on their next home, Wager said.
The current oversupply of homes on the market and slipping property values mean that more people are inquiring about such promises to buy their home if it doesn't sell, agents say. Homeowners who are interested don't want to live with the uncertainties of today's market.
The program worked for the Wagers, but as agents explain to many interested clients, "guaranteed sale" is not for everyone. For most sellers, it's better to sign up for a traditional listing agreement if they want to get the most money for their home. Some agents will guarantee a sale, after a specific period has lapsed, but at a discounted price.
Generally, Twin Cities agents who offer such guarantees will pay 80 to 90 percent of market value, depending on the property, location and condition of the home. Like sellers, the agents and real estate companies also risk trying to sell a home in today's overstocked housing market.
"It's not as popular a program as it has been in a good market," said Jeff Scislow, a ReMax sales agent who has negotiated guaranteed-sale contracts with about 50 sellers over the past 18 years. "Most sellers don't want to, or can't take 85 cents on the dollar for their home."
Many people just don't have enough equity in their home to do it, said Ryan O'Neill, whose ReMax Minnesota Real Estate team has bought one house from a seller in the two years they've offered the program.
So why offer it? Some clients really need it, say agents. Examples: homeowners who are relocating and have to sell fast, are building a new home and have a set closing date, or wish to put a noncontingent offer on their next dream home.
For some homeowners, a "guaranteed sale" simply gives them peace of mind, said O'Neill. "They know their house will sell no matter what after six months and they can move on." But if a home is priced right, it usually sells before the contract time is up, he added.
http://www.startribune.com/homes/17826744.html By LYNN UNDERWOOD, Star Tribune April 19, 2008
Find out how this works, visit: MLS Real Estate Minnesota
Guaranteed Sale is not for everyone. It is a complicated process and the agent needs to make a fair evaluation. We offer guaranteed sales and if it is done right, it is very beneficial to both parties. In a slow market, it gives you a piece of mind, especially for those who are relocating and need to sell the home within a timeframe. You will also know the price you will be getting so that you can start shopping for another home.