Are you looking to buy but need to sell a house in order to do it?
In this article I’ll cover some of the most successful ways to buy and sell.
1. Purchase financing.
You’re only a Seller if you’re a bonafide Buyer, you need to start this process thinking like a buyer. In other words, find a lender you want to work with and ask to be pre-approved for a purchase. I can help you figure out what price you can expect to sell your current home. After that, I can estimate how much you’ll net from the sale of your home to put toward the purchase. If you currently have a mortgage on your home it must be paid off in full when you sell.
2. Should I list my home first, or wait to list until I find the home I want?
This is a great question, and there isn’t one answer that fits everyone. That being said, it is important that I have contingencies written into my contract to protect my clients. I do my best to negotiate these protections for my clients so that if the purchase doesn’t work out they can cancel the sale of their home and vice-versa. Moreover, if the sale of their home gets canceled they won’t be locked in to buying a home they no longer qualify to buy.
3. More tips for buying And selling successfully
Every individual situation is different. Ask questions. Be a good listener. Insist you have loan pre-approval unless you’ll have enough cash to buy. Research your property for any identifiable problems to sell. Consider staging your home for sale. Market your home aggressively. You must convincingly persuade the Seller of the home you want to accept your offer instead of another. Get through all the disclosures, inspections, and repairs (if any). Complete all necessary tasks for both escrows quickly, ensuring both escrows close on time.
Buying and selling example’s from past clients.
In recent years clients of mine have done it all different ways.
For example, the C’s moved out of their house and into a rental house, so they could fix up their home and sell it vacant. If a home they really like comes on the market they’ll jump on it ending their lease early to do so.
The Z’s decided to list their home first and trust that a great home would come along at the same time. They accepted an offer on their home before finding a house. I negotiated with their buyer for a contingency that if The Z’s didn’t find a home within 30 days their buyers could cancel. They found a home within a week. Both the sale of their home and purchase closed concurrently.
The G’s had me and my photographer in their home months before finding a replacement home, and we were ready to pull the trigger on marketing their home the second they decided to make an offer on a new home.
The F’s found a home they wanted to buy, and so the same day we offered on the new home we rushed to list their house. They got a strong offer on the first day and that made the owner of the house they want to buy confident enough to accept their offer. We negotiated some time for them to remain in their home while they made a few changes to the new one before moving in.
The W’s sold a home they inherited and didn’t want to live in. They used the proceeds as a down payment on a new home they bought.