Tips on buying and selling your home at the same time

Tips for buying and Selling at the same time! 

Either buying or selling a home can be extremely stressful, it can be even more overwhelming if one is trying to do both at the same time. Adding in the additional stress of moving now having to sell first to move or is it the other way around? In an ideal world, you'd buy a new home, move, and then, and when all the dust settles deal with the turmoil of selling. But for most people, that's totally unrealistic. Not only does it cost significantly more, since you'll be paying two mortgages, but sellers might be quick to judge if you're holding on to your current home.  The good news is that this happens all the time and by following a few simple tips, both buying and selling can be a seamless process. 

Tips for Buying and Selling at the Same Time

Contract Contingency: Buyers can request that their new home purchase be dependent on the successful sale of their old home. If you're looking in a competitive market, this may not be a good option; however, if the seller of your intended home has had difficulty attracting interest, this may be a good deal for all parties involved-assuming you can convince them that your home will sell quickly. 

Bridge Loans: A bridge loan allows you to own two homes simultaneously if you don't have deep pockets for a second down payment. This option is especially attractive if you'd planned to sell your home first and use the proceeds to buy the second. It functions as a short-term loan, intended to be repaid upon the sale of your original home. 

(Make sure to talk to your agent and lender to know what is best for your individual real estate needs)

The good news is that you’re planning to move any way. Before you list your home for sale, why not start packing now? Take personal items and excess furnishings and pack them up and move them to storage. Not only will your home look larger and neater, you are getting a start on the move. 

Next make sure your agent, understands the timeline and requirements. There are many standard contingencies which can protect you from owning two homes at once, or none at all. Not only can the purchase of your new home be contingent on successfully closing on your current one but you can also reverse the process and ensure you find a replacement before the close as well.

 Finally, get the entire family involved. Be excited about the change and create a moving plan in which everyone has a task and there is a plan for the move itself. By taking a few initial steps, moving can be fun and easy. 

Having the right person representing you can be the difference between calm smooth process and a nightmare. Don't sell yourself short by not being protected and advised in a huge home purchase and sale. It is essential to be advised by the best. 

Contact me Today to help you ease your anxiety and let me navigate the market for you! 

The Internet Can't Replace Your Agent

The Internet Can’t Replace Your Agent

 We live in the information age; the Internet offers advice on every topic and real estate is no exception. With more and more home buyers starting their home search online, they are bombarded with advice and information – it can be easy to think that you can learn everything you need to know just by reading articles online. 

The truth is your real estate agent does much more than answer your questions and open doors with a special key. A professional real estate agent will be there every step of the way. They have the experience necessary to navigate the complicated home buying process and solve common hiccups that present themselves in every real estate transactions,

 Your real estate agent is a local professional. They will start by presenting themselves to the buyer’s agent as someone who will work with them to see the transaction through to a successful conclusion. They have a network of professionals who will work as a team to help you through the process. These include such professionals as: lenders, title reps, escrow officers, transaction coordinators, home inspectors, contractors and handymen, among others.

 Most importantly, your agent is your ally in the home buying process. They negotiate on your behalf – armed with experience and understanding of customary charges, costs and terms. They will ensure that the price you pay for the home is fair for the condition and neighborhood. They will negotiate repairs, if needed and make sure you are protected with the proper contingencies. 

The Internet offers lots of great information, but the most important step you can take when buying a new home, is hiring a local professional real estate agent. Their knowledge and expertise can’t be found by reading an article or two online.