Tip of the Day: Sell your home before buying your next one! The ones who sell typically make more money when they have sold their previous home before buying their next one.
This tip can be difficult depending upon your criteria and/or situation. Especially depending upon the market that you may be in, this may not be the right tip for you. However, typically this is the case.... so if you can wait to buy then I say sell before buying!
The main reason for this comes down to your bargaining power. Everyone says that most markets are a "Buyer's Market" at the time being, this means the buyer can have some good negotiation deals in their favor. However, negotiation deals are typically cut short when you bring in a contingency. "I have to sell my house before I can buy yours, but I will buy yours once my sells"--Well there goes your negotiation. If this really does seem like your 'dream home' go for it, if it seems like nothing else can work. However, if it is not your dream home and lets say your home sells... then when you approach the seller you have no further contingencies and your bargaining power could turn into $5000 in closing costs.
The best approach for this tip is to talk to your Realtor. When you list your home, let the Realtor know that you want to upgrade or downgrade and how far off that switch needs to be. Your Realtor will then be able to effectively price your home for your particular market place!
Good Luck in all your Sells!
GreenvilleBuyerAgent
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