There are 4 Key Factors to Consider when managing the Sale and Buy of your home at the same time. First is where to begin. You are at the right place.
Factor 1. Hire an experienced agent to help you.
In this scenario, without a doubt an experienced agent matters. Its critical to hire the right agent, or better a team, and have them help buy and sell. We have helped 100s of clients buy and sell their home at the same time 100s of times. This is complicated, so we ask when evaluating a surgery with long term impacts, would you want an experienced or new Doctor? Remember, there are many agents without much experience, and this is a complicated and major investment, and a major stress in your life.
When we are deciding where we can 'get-away with' adding a home sale contingency into your offer and having it be accepted, the status and what kind of housing market we are experiencing plays a big factor.
A Buyers Market means there is an abundance of homes to chose from, and seller's are more likely to be cooperative of accepting a home sale contingency and waiting out the time for your home to go under contract and sell.
A Sellers market means there are less homes available for purchase, and thus the sellers have more offers to chose from or are not as likely to accept a home sale contingency.
Factor 3: Options for How to Manage your Buy and Sale of Home at the Same Time
Buyers Market has impacts on the offer options and listing process.
Having your home under contract first is one example of how to make your offer more acceptable to a seller.
Setting up a rent-back with the buyer of your home is an option.
In a Sellers Market we typically will have more flexibility with having a home sale contingency without forcing your home to already be under contract. But, factors such as the seller's next home situation come into play.
Our Team will walk you through all the options to decide what's best to get your offer sold.
Factor 4: Your financial situation
Simply put, are you in a position to buy your next home without being required to sell ? This is a question you may already know the answer to, or that you will discuss with your lender.
Once we know this answer, we will have a lot more flexibility. And again, we work with each client to make the wisest choice for your scenario, and to manage any financial stress. To have that exceptional experience, stress is in fact a very important factor.
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Data last updated: April 18, 2021 5:35 AM UTC
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