Selling + Buying

Selling a home and trying to buy a new one simultaneously can seem confusing and overwhelming. Do you find the prefect house then put your home on the market or do you put your home on the market then find your new home? Well, there are a few questions to ask your self first:

• Can you qualify for both mortgages at the same time? If so, then you can wait to find the perfect new home then work on selling your current one. If not, then you will need to have your first home sold or under contract with a contingency on your current home selling. So first step is to contact your lender and find this out.
• Do you have a place to go in the interim? If so, then you can sell your current home and move into that temporary place. If not, then you will have to coordinate closing on both homes at the same time. That means, putting your home on the market, getting it under contract, then during that 10 day due diligence with your buyer, go shopping for your new home and get it under contract
• There are also a few different types of loans that can bridge the gap between when you sell and buy. That is a strategy to discuss with a lender.

Still seem overwhelming. Here are some more helpful tips. Also, coming up with a plan with your Realtor® is imperative. Remember, you don’t have to figure it out all on your own, coming up with a plan to make the transition as smooth as possible is what your Realtor® can help out with.

FREQUENTLY ASKED QUESTIONS

How do we ensure we aren’t homeless?

Selling and buying at the same time may seem overwhelming, but I have a few ways to make the process easier.

1. 3 day post closing occupancy – this allows for a seamless move from your current home to your new one
2. Matching deadlines – I’ll help ensure that both contracts are lined up correctly for an accurate timeline to close on both homes at the same time
3. Using a Transaction Coordinator – An extra set of eyes to ensure all deadlines are met by all parties
4. Relationships with vendors – Lender and title companies who work together to keep track of everything

When should we make our home active on the market?

1. If you need fund from you current home, you should list today. Your current home must be under contract to submit an offer that will be considered on your next purchase.
2. If you do not need the funds from your current homes, then your timeline maybe more flexible.

When should we begin looking at homes in person?

Once your home is under contract. Before then, please browse online via my search which is linked to the Multiple Listing Service so you ready when the time comes. You can save properties which lets me know which ones you like. You can also compare properties and rooms and photos side by side which makes comparing homes much easier. Then, once your home is under contract, the search begins!

When should we put in an offer?

Once your home is under contract, it’s time to begin the search and put in an offer that is contingent on your home sale.

What does a double closing day look like?

Your current home sale will close in the morning hours and we will coordinate the transfer of funds to the appropriate title company for your afternoon close on your new home. This is where the 3 days post closing occupancy could come into play.

What about delays?

It is my goal to avoid delays and meet every deadline, but in the rare event a deadline is not met, I will do everything in my power to get all parties back on track.

How to I make a contingent offer strong?

Let’s chat. I’ve got some great strategies to use when your offer has a home sale contingency.

What if I’m buying out of town?

I can still help! Let me know where you’re headed and I can connect you with a great agent.

Should I work with the same agent to list and to buy?

Yes! And here’s why: working with the same agent will allow for greater transparency, smoother coordination, and stronger relationships.