If you’d like to buy a house but you also need to sell your current house, you need to design a smart buying and selling strategy. Here’s how you can do that.
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If you need to sell your current home to buy another home you’re interested in, there are several strategies you can use.
To design a smart home buying and selling strategy, you should first look at your overall goals and what your financial situation is. What kind of equity will you be rolling into the new home? What kind of mortgage payments are you looking for?
You should also consider implementing contingencies. In this type of situation, we oftentimes work with clients who buy a home that’s contingent on the closing of their current home. You can also use bridge and swing loans that will give you more time between buying one home and selling the other and help you avoid the crunch of a simultaneous closing.
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You have a much better chance at influencing all of these moving parts if you put together a great team behind you.
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Whether you’re buying or selling, there are about 75 people who are either directly or indirectly involved in the transaction, and you have a much better chance at influencing all of these moving parts if you put together a great team behind you. With everything that’s happening, coordinating both transactions can seem like threading a needle. This is why, when we work with homeowners in this situation, we sit down with them, go over every possible strategy, review their financial situation, and look at the market itself. Whether we’re in a buyer’s market or a seller’s market will affect your strategy.
As long as you take the time to put together a plan with your real estate agent and put together a great team behind you, you can make buying and selling at the same time a stress-free situation.
If you have any questions about this topic or you have a topic you’d like us to discuss in a future video, don’t hesitate to reach out to us. We’d love to speak to you.
As long as you take the time to put together a plan with your real estate agent and put together a great team behind you, you can make buying and selling at the same time a stress-free situation.
If you have any questions about this topic or you have a topic you’d like us to discuss in a future video, don’t hesitate to reach out to us. We’d love to speak to you.
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