I’m hearing from people caught in the proverbial middle.
You’ve committed to buy a new house but can’t sell your existing home. What can you do? I wouldn’t have normally said this, but you might want to talk to your builder.
Builders have been offering buyers plenty of incentives over the past few months, like free options and upgrades and even lowering the price of some units.
But now they’re testing services in some markets to help buyers sell their existing homes. The Wall Street Journal reports that in about a dozen markets, Pulte is connecting home buyers with professional home stagers, and paying for $2,000 of the service. In Phoenix, Lennar has arranged for sellers to pay a 3 percent commission if buyers use Coldwell Banker. Toll Brothers is paying Detroit buyers’ mortgages of up to $2,500 per month for six months.
If you want to buy a new home but can’t sell your existing one, see if your builder can help.
With practical, informative consumer advice, I’m Ilyce Glink, News-Talk 750 WSB