Have you outgrown your current home?
Casey C. from Revere asks, “How do you coordinate buying and selling at the same time?”
Just one real estate transaction can be stressful enough! How do you juggle two real estate transactions at the same time?
Build a good team! Having an agent, a broker and an attorney on your team is crucial. When buying and selling, you need to make certain that your team is rock solid!
Talk to your mortgage broker first. There are two ways to approach this situation: Is your purchase contingent on selling your home, or can you purchase first?
If you are able to make a second purchase without selling first, this could make things a lot easier, but there are a few things to be aware of… How long can you afford two mortgages? What is your home worth? What can you afford without selling first? What can afford if you do sell first? Would you consider renting your current property out rather than selling?
Call your Realtor! Most Realtors are able to handle the sale of your current home and the purchase of your new home. Having one person for both helps with the timelines and keeps everyone in the loop.
Talk to your Realtor about a plan and a timeline! Set limits in terms of what you are willing to accept.
Set realistic goals! When submitting an offer, you look much stronger to a seller if you have nothing to sell first. And on the flip side, buyers are more attracted to a quick close.
Keep in mind that this doesn’t mean it can’t be done!
List your home and hold an open house before you submit an offer. Having an offer on your property shows the seller you are serious.
Work with one team to ensure everyone know the entirety of the situation and know your limits!
To read more blogs by Ari Taylor, go here: Ari Taylor's Blog!
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