Coming-soon homes have their place in our market, but does it make sense to make an offer on one? Stay tuned to find out.
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I frequently hear from homebuyers who are curious about coming-soon listings, so I decided to give my perspective.
A coming-soon home may or may not be listed on the MLS. Either way, it’s not available for viewing in person. It might be because the home isn’t ready yet or the owners are in the process of moving out. These homes won’t have open houses either. A legitimate coming-soon listing is off-limits to you and all other buyers.
What if you spot a dream home that’s a coming-soon listing? Here’s a three-step process I recommend:
1. Be aware of your excitement. We tend to want something more just because it’s off-limits. Keep this in mind as you look at coming-soon homes and separate what you think about the home from the alluring fact that it’s unavailable.
If an offer makes sense, I encourage you to make it.
2. Do your research. Even if a home is unavailable for viewing, you can still gather a lot of information about it. This includes the sales history, old pictures of the home, and the date when it will become active on the market so you can take a look for yourself.
3. Make an offer. If it makes sense, I encourage you to make an offer. Just because a home isn’t available for viewing doesn't mean it’s not available for receiving offers. Your offer should be carefully crafted with deadlines and contingencies to minimize your risk of making an offer sight unseen.
If you decide to submit an early offer, don’t be surprised if it’s not accepted right away. The sellers will likely want to see the interest that their home will get when it’s fully listed.
If you want to take a look at some of the homes that are available right now, visit our website. If you have any other questions for me about real estate in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
