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Should I buy or sell first?
This is a common question that people have when they have a home to sell.  Should we find a home first, or sell ours first?  I understand the worry that you won't find the right home, but in reality that is very rare. Especially today with our current listing inventory in Edmonton we always find a good home if we give ourselves enough time (60-90 day possession on your existing home).  I always recommend to sell first.  There are quite a few reasons but the biggest is money.  Financially you can lose money by buying first.  To explain this, when you are buying you are emotionally involved.  When you are selling it is much more of a logical (have to do) process.  I've seen many people buy first and overpay for their new home (emotional) then they "dump" their home and sell at a low price in order to get into the next home.  Not to mention, it almost always puts you in a bad financial spot when you are covering two mortgages for any period of time.
Some people try to buy subject to their home selling and this may not put you in a bad position immediately (covering two mortgages), but your negotiating power ... more

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