Las Vegas Review-Journal (Sunday)
Nevada Builder Trade-In Program helps buyers weigh options
Local housing prices continue to increase
Thoughts of buying a new home from a builder are exciting, with finances often becoming the determining factor as to “which home” one can buy.
For homeowners who must sell their current home to purchase a new one, figuring out “how much” they can spend can be difficult, especially in the Las Vegas Valley’s real estate market, where prices are soaring.
The Nevada Builder Trade In Program contingency program and its multifaceted approach have helped hundreds of homeowners navigate home shopping, home selling and homebuying in Southern Nevada.
The program is led by Robin Smith and Robert Smith of Smith Team at Keller Williams Las Vegas, who have worked with Southern Nevada builders, home sellers and homebuyers for nearly 30 years.
“Home sales and prices have really taken off this summer in Las Vegas, and homeowners are viewing this as an opportune time to sell their home and buy that brand-new home they’ve always wanted.
But, there can be uncertainty on how to do so. Should you sell your home first and then find a new one? Or, should you shop model homes, choose the one you like and hope that the builder will wait for your current one to sell?” Robin Smith said.
“Through the Nevada Builder Trade In Program, you can buy a brand-new home contingent on the sale of your current one at more than 50 neighborhoods constructed by one of our builder-partners. Before you can do that, you need to take the time to understand your finances and for how much your current home may realistically sell.”
The first step that the Smith Team takes with prospective Nevada Builder Trade In Program clients is meeting with them in the home that they wish to sell.
During this complimentary meeting, the Smith Team assesses the home’s condition and features and provides an estimated price for which the home might sell based on a comparative market analysis of recently sold, comparable homes in nearby neighborhoods. The Smith Team also offers advice on minor repairs that could increase the sales price.
“In today’s real estate market, it is extremely important that you work with an experienced Realtor when determining a potential sales price because you want to sell your home for top dollar,” Robin Smith said. “After you understand how much you can realistically sell your home for, you’re then able to look at all of your finances and determine how much you can afford on a brand-new home and if selling makes sense.”
For those who choose the program, the Smith Team helps the client negotiate the purchase of a new home constructed by program partners Beazer Homes, Century Communities, Pulte Homes, Woodside Homes and Sun City Mesquite by Del Webb.
Depending upon the builder, contingency purchases might be agreed upon for standing inventory homes, those under construction and empty homesites.
“We work with homeowners at various stages of their home search. We work with homeowners who really want to move to a brand-new home and want to find out if it is feasible before looking at models, and we then help them in their home search. While others reach out to us after they have already toured model homes and found the one they want to buy. Either way, we are here to help,” Robin Smith said.
After the new home is selected and the contingency agreement is accepted by the builder, the Smith Team lists and sells the current home at a reduced commission, while offering the buyer’s agent the standard 3 percent commission. After the sale, the Smith Team helps arrange moving services or helps locate a temporary rental, if needed, between the sale of the current home and the completion of the new home.
To learn more about the Nevada Builder Trade In Program, contact the Smith Team at 702-460-5080, visit ISellLasVegas.com or inquire at a builder-partner neighborhood.
Homeowners interested in purchasing a home on contingency at a non-builder-partner neighborhood and receive benefits similar to the Nevada Builder Trade In Program should contact the Smith Team before starting their home search.