Today we’d like to share a step-by-step guide on some key points in this process.
When it comes time to move on to their next home, most homeowners are faced with the task of buying and selling simultaneously. But despite how common this scenario is, most homeowners have no idea how to approach it.
So today we’d like to share a few simple tips on how to proceed if you find yourself faced with this situation.
First, figure out what you will net from the sale of your current home. After this, you will need to get pre-approved for your next purchase with a reputable local lender.
It is at this point that you should think about which, if any, improvements you want to make before listing. You may also want to take this time to determine whether you can arrange a leaseback agreement. A leaseback agreement will allow you to stay in your current home while finishing up the buying process on your next.
Once you’ve finished these steps, it’s time to shift your focus to the reality of juggling two transactions at once.
It’s a great idea to start looking at homes you’re interested in, but don’t pull the trigger before gaining some traction with your own listing. When you’ve gained this traction and you’ve settled on a property you’d like to buy, write an offer that’s contingent on the sale of your current home.
As we all know, real estate transactions can be complicated. So hiring a knowledgeable, experienced Realtor makes all the difference. Whether you’re taking on one transaction or two, the key to success is having the upper hand. And when you work with us, we will make sure this is always the case.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.