Yes, You Buy A House Based on What You Sell For, Not the other way

By
Real Estate Agent with William Pitt Sotheby's International Realty CT RES.0783448

You buy a home based on what you sell for, not the other way around.

The sale of your current home and the purchase of another home once your home takes a deposit are independent of each other. Most people I know that want to buy a new house, since they are tired of their current home, need to sell their current home in order to move on. I understand completely about trying to get the most money out of their current home in order to have a good down payment on their home of your course.

The value of your current home has nothing to due with what you want to buy. The value of your home is dictated by the value of similar homes. Buyers do not care it you ‘need’ $X  for whatever reason. Buyers only want to pay what fair market value is on your house, based on what has sold. Even if you get whatever you want, the house is still going to have to appraise for buyers to get their mortgage. If we get to the point where you find the right home, we will look over sales similiar to that home to see if the price for that property makes sense based on the market.

If your home can only sell for so much money, and you want a new home with x,y&z bells and whistles, you will either have to find a way to come up with the money, scale back your needs on the new house, or wait until you have saved up enough money or the market turns around. If you are bursting at the seems in your current house or whatever personal thing that requires you to sell your home NOW, you just have to bite the bullet.
If we do everything right, and work together as a team, with you preparing your home and deciding on a price, and I market your home to attract a qualified, ready and willing buyer, we will hopefully get this:
sold

Posted by

Jonathan Hall-Realtor Serving Greater Danbury & Candlewood Lake with William Pitt Sotheby's International Realty
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This information is provided by Jonathan Hall,Realtor  with William Pitt Sotheby's International Realty in the Greater Danbury & Candlewood Region of CT. For additional information, please call him at 203-417-0523,203-796-7700X305 or email me at danburyrealestate@gmail.com . Unless indicated, all content is the property of Jonathan Hall. If you would like to use any of this information, please contact me for permission. He is a licensed CT Salesperson License #RES.0783448 with William Pitt Real Estate LLC License # REB.0751698. His office is located at 112 Federal Road,Danbury CT 06811.

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