QUESTION : Should I Buy or Sell First?
If you choose to buy a new home before you sell your current home, you risk having to carry two mortgages until your old home sells. A bridge loan can ease the strain of double mortgage payments, however, you generally must have sufficient equity in your current home to qualify. Of course you could make the purchase of your next home contingent upon the sale of your current home, but in a strong market, it¹s not likely that a seller will accept such an offer. You may be in a stronger bargaining position if you put off serious new home shopping until after you've accepted an offer on your current home. You'll have a better idea of how much equity you'll be able to carry over to your next home and you won't have to make the purchase of that home contingent upon the sale of your old home. Of course, if sellers know you have a limited amount of time to purchase, it can be more difficult to negotiate a good price. To evaluate which alternative is best for you, consider the effect each scenario will have on your finances, negotiating position and moving timeline. Remember, even though buying a home may be one of the most important decisions you make, it can also be one of the most satisfying, simply ally yourself with a real estate professional who can offer advice and get the facts before making a fresh start in a new home. Realty Zone agents are committed in offering the highest standards of professional service to all of their customers. To assure that your property is marketed to its fullest potential and to obtain the highest possible market value, the Realty Zone team provides the marketing and technology tools to make your real estate transition run smoothly. |
TIP : Prepare Your Home to Sell...Fast! Market it well. Reduce the time to sell with proper marketing. Innovative, effective marketing is crucial to improving your sell time. To reach the most possible buyers, Realty Zone will advertise your home across many different and relevant venues, going far beyond traditional methods like print advertising to proven-effective venues such as multiple websites and direct mail. Having technologies and ideas is one thing; knowing how and when to use them is another. |