If you’re hoping to sell your home and trade up or down in Austin’s hottest housing market, gather a team and get a game plan together. With the right approach, it is possible to reduce stress and increase the success of winning that beautiful bungalow.

1. Increase the size of the market. Housing markets tend to be cyclical. Right now, Austin is in a seller’s market. In this market, home sellers dominate, which often creates a problem for buyers who want to compete. To win a bidding war, buyers typically want their agents to make the best offer — such as a full cash offer or a generous down payment — and avoid offers with lots of strings attached.

2. Gather your team. A knowledgeable, experienced real estate agent understands the market and can advise you on the sale of your home. The agent will compare your home to others on the market and set a list price. Start talking to lenders, too. The expected sale price can estimate your equity (the difference between the remaining loan and the expected sale price), although nothing is certain until the “sold” sign is gone. The equity can help you buy a bigger home or downsize with a smaller retirement condo.

3. Choose a strategy. Each approach offers pros and cons depending on your home, the housing market, and your flexibility and finances.

• Ask for closing conditionsWhen selling your home, ask for a longer closing time frame or rental period. Essentially, you’re paying off your buyer’s loan when you buy a home—albeit in a foreclosure situation.
• Move and buyAfter your home is sold, move your family and belongings into a new apartment while you house hunt. This requires moving twice, along with security deposits, inventory storage fees, and other costs—which can eat into your down payment.
• Present an emergencyYour home purchase offer is based on the current sale of your home so you don’t get stuck between homes. However, contingencies are not competitive in seller’s markets and require an immaculate home, one that can be viewed at a moment’s notice.
• Buy on credit: Use a home-equity line of credit to take out equity and invest in your next home. Then pay off the HELOC when you sell your home. Basically you are carrying three loans for two houses. Alternatively, a short-term bridge loan can cover your down payment until your home sale closes.
• Flyhomes strategy: A New, Holistic Approach to the Sell-Sell Controversy. First, Flyhomes guarantees to sell your qualifying home at an agreed price, so you know the equity you’re bringing to the negotiating table. Then, a Flyhomes agent will help you make a competitive all-financing offer on a new home. Move into the new home, then sell your old home, skipping the rent-back/apartment-rental situations. If a buyer does not offer within 180 days, Flyhomes will buy your home at the agreed price. Domestic consumers are ready to compete with fast money supply. As a seller, you can get out of the house and arrange the sale of your home for the best price possible.

4. Enjoy your new home. The remaining questions revolve around which bungalow Reno will tackle first and if those are blinders. they have to say.

For more information about Flyhomes visit flyhomes.com.

This article was produced by Austin Monthly Content Studio as part of a paid partnership with Flyhomes.