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BUYING A HOME BEFORE SELLING YOUR HOME
BUYING A HOME BEFORE SELLING YOUR HOME
 
Buying a home is always something one has to take a minute and decide how to approach, but buying a home when you already own a home can present a different dilemma. Nearly everyone needs clarification about whether they need to sell first or not.  In some cases folks simply do not consider it an option to buy before selling even if they CAN.
First of all know if you can buy before selling. Then it is easy enough to determine if you WANT to buy before selling. The bottom line is whether you qualify for all the debt you currently have including your current home AND a new home mortgage. So debt ratio is a first consideration.
 
If you qualify for all the debt how long will you intend to have both homes? In today's market homes are selling really fast. I remember when it used to take months to sell a home in our market. Now if you have a decent home and you price it right it will sell fairly quickly, so quick that you may not double up on house payments ever. But planning on how long you may want to double up on both ... more

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