It is not impossible to buy and sell a house at the same time. You can do so easily within a relatively close time frame. Buying and selling homes with the exact closing date might be asking the Universe for a bit much.
However, with the right help, a manageable solution that saves time, money, and most importantly, reduces stress is available. Knowing your options and understanding the real estate process is key.
What is Your Motivation?
You may want to reflect on what is driving your decision to buy and sell a home at the same time.
Perhaps you need to move quickly due to a job, change in relationship, or support a child’s needs. You may want to move closer to an elderly parent.
Understanding your intentions and goals will help the buying and selling of your home a more stable process.
Do you Know the Inner Operations of Buying and Selling Houses?
We know you are excited and want to move quickly. You want to sell your house fast, make money, and secure your real estate transactions.
Chances are, if you own a home, you are aware of what steps to take. You may want to know what has changed or how to make the next purchase better.
You may be familiar with loan qualification, but you may want to be aware of changes, updates, and rate fluctuations.
Maximize Your Benefits of Buying and Selling your Home with Need to Know Facts.
These facts will ease and minimize your financial risks when buying and selling your home at the same time. By chance, you may even earn a profit when selling your house.
It takes time.
Whether you are buying and selling a house by yourself or you’ve got a great real estate agent by your side, you’ll want to consider:
- Qualifying for a new mortgage
- Carrying two mortgages if your house doesn’t sell immediately
- Reliance on one house’s sale to make the down payment on the other
- How are you selling your home in terms of upgrade, marketing?
- What are your communications with contractors, stagers, or agents in which you are working?
Weighing in on Selling First or Buying First is Important.
Most people do not have the money to buy a new home without selling the first one. There are positives and negatives to both options of selling your home or buying a new one first.
According to some real estate professionals, selling your home first before buying another home can be a financial risk.
A real estate professional will relieve the burden of this risk for you. Feel free to ask Rob Gadbois questions about your selling and buying situation. He maintains the knowledge you need to help you with your process.
Choosing To Sell Your House Before Buying Another or Vice Versa.
Selling your house before the purchase of a new home yields positive results but can have adverse effects as well.
You need to know how much money you have to spend so you know what you can and can not do. We are not telling you which option is better. That is entirely up to you, but we have listed a few positives and negatives about buying a home before you sell.
- You will have available cash for your down payment.
- You can avoid reducing your asking price for a quick sale.
- You only have to pay one mortgage.
- Better financial decision with less burden
- You will not have to pay taxes on two homes simultaneously.
- If your credit score is less than stellar, selling your house will help you get a new home loan.
A few examples to avoid when selling your house before buying allows you to plan accordingly. (Cons)
- You will need a place to live if you have not yet purchased the new home.
- You may have to store your belongings.
- Some people spend the money from selling their home on moving expenses and then do not have enough for a down payment on a new house.
- Pre-planning a place to stay while looking for a new house is advisable.
- The pressure to buy a new home could make for more of an impulsive purchase.
Trust in Your Real Estate Agent
Your real estate agent, Rob Gadbois, knows the very essentials for buying and selling that you may not know. He knows the people you need to communicate within Everett, Snohomish County, and the surrounding areas where you want to move.
Rob has access to services that will improve the sale of your home. He can integrate professional home stagers and designers to ensure your house looks top notch for viewing.
His contacts include neighboring businesses and local industry talents that will make your real estate experience a promising venture.
Rob values your partnership and considers every step included in the process. He dedicates his time and energy to ensuring his clients receive the absolute best treatment and the highest standards available.
Patience, cooperation, and trust will make your home buying and selling experience more enjoyable. You can trust Rob Gadbois. Contact him today.