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3 Steps to Buying & Selling Simultaneously
July 20, 2021 at 5:05pm | Julie Hayward
Here’s what buyers can look forward to in our market.
If you’re thinking of selling your home and want to buy a new one, here are the three steps you must take:
1. Speak with a lender. You need to get pre-approved and find out how much you can afford for your new purchase. The lender will tell you what you need in
terms of your down payment and closing costs. They’ll also tell you what loan options you can get.
"I suggest not starting the search for your new home until your current one is listed."
2. Talk to an agent. They’ll let you know how much your home is worth based on current market conditions, go over the listing process from start to finish, and
break down the fees you’ll have to consider.
3. Put your home on the market. I suggest not starting the search for your new home until your current one is listed. I also recommend selling first;
you can rent the home back from the buyer for a few months while finding a replacement property. This way, when you write an offer for your new home, it won’t be contingent on selling your current one. This will make for a much stronger offer
in the eyes of the seller. The situation changes if you don’t need to sell your current home in order to buy your next one. Again, there would be no home sale contingency in this case, and you’d once more be able to write a much stronger offer.
Everyone’s situation is unique, so if you have questions about this process or there’s anything else I can help you with, don’t hesitate to reach out to me. I’d love to assist you.