We all know exactly how exciting it is to envision your new life in a brand new home. It is so much fun to picture what color to paint the walls, how to arrange furniture and what you will use the living space for. It is nice to drive around taking flyers out of boxes and calling the listing agent with a list of questions on the asking price, etc. However, if you have not sold your house yet, we may need to step on the brakes before getting too many steps ahead of where you need to be - I can hear those tires screeeching the car to a halt right now!
There are many good and valid reasons why someone would buy a home before they sell, and every situation is different. As a Realtor, it is our job to find you the house you can see yourself living in - afterall, that is why you picked up the phone to call us. I would like to build on the role of a Realtor for Buyers and share with you that we are also there to provide information and educate about the buying and selling process and give you some food for thought to reflect on when you are thinking about buying before you sell.
- What would you do if you fell in love with a home before you sold yours and you want to place an offer? Emotions can get the best of all of us, and it is important to keep things in perspective when buying a home. If you are obtaining financing, will you be able to qualify holding another mortgage? If you are not able to and you write an offer "contingent on the sale of" your property, it will not look like it is as "strong" of an offer. The Listing Agent may advise their Sellers to write an addendum stating that if another Buyer places an offer on their home, and you have not sold yours then they can go with Buyer #2.
- Let's say you get an offer on your home (YAY!) and you decide to go out looking for a home and you find one. What happens if the Sellers of the home you have an offer on, accept yours and you are under contract then YOUR Buyers back out of YOUR offer. Can you financially afford to carry two mortgages?
It is important to keep in mind that there are very specific times in life when you either have to buy before you sell or are able to buy before you sell. Maybe you have a job offer in another location and need to move or you can afford to carry two mortgages and you found the home of your DREAMS - Only you can determine if those shoes fit you. If the shoes fit someone else and are a bit two big or two small for you, you just might want to reign in the horses and wait the sale of your house out.
It is always a GREAT idea to do market research before buying your home. Use the time that your house is for sale to check out neighborhoods and make a list of "must haves" for your new home.
We are more than happy to assist you with any questions you might have about the buying or the selling process in Fort Myers, Fort Myers Beach, Cape Coral, Lehigh Acres, Estero, Sanibel Island, Captiva Island, Bonita Beach, Bonita Springs, Marco Island and Naples. Providing you with Excellence and Service in Your Real Estate Experience.
Shane and Joy Goushaw
Licensed Professional Realtors
Sandals Realty
Cell: 239-823-5280
Fax: 239-245-8042
Visit our website! www.FortMyersRealEstateFloridaHomes.com
Visit our blog! www.WeLuvFortMyers.com
Comments(0)