The truth about buying and selling at the same time: it can be a little overwhelming. That’s why having a plan in place is CRITICAL to not wanting to throw in the towel and quit your new home search.
You’re looking at houses online for a reason and we want to help make this transition as stress free as possible!
STEP 1: Figure out if you HAVE to sell in order to buy – can you financially carry 2 mortgages at the price range you’re buying in?
STEP 2: Talk to your lender about your financing options. How can you get creative if needed to position you to navigate a double move more easily?
IF YOU DO NEED TO SELL IN ORDER TO BUY NEW, SKIP TO SECTION 2. IF NOT, CONTINUE TO STEP 3
STEP 3: Schedule a *Move Up Buyer* Consultation with us to plan out your strategy (timelines, setting up your new home search & getting your house market ready).
STEP 4: Figure out how much your home is worth and what your estimated proceeds from the sale will be. We will crunch these numbers for you.
STEP 5: Determine your budget for your new home and have your pre-approval ready to go. If you need lender recommendations, we are happy to provide!
STEP 6: Set up your Dream Home search with us and start looking at homes – YAY!
STEP 7: Start getting your house market ready so as soon as you find your new home, we can put your house on the market.
SECTION 2: You HAVE to Sell in Order to Buy
STEP 1: Decide if you are going to wait to start house hunting until after you close on your home and live somewhere temporary in-between.
*What you need to know when navigating a double move:
This will be challenging. Make sure you have a backup plan (or two) as in somewhere to go if needed in-between selling and buying. Consider temporary housing in-between (living with family or renting). If you can be flexible, the process will go more smoothly and also allow you more negotiating power when searching for your new house.
You won’t be able to make an offer on a new house until your current home is on the market – and most likely, under contract. Sellers aren’t keen on offers with sale contingencies.
STEP 2: Figure out how much your home is worth and what your estimated proceeds from the sale will be. We will crunch the numbers for you!
STEP 3: Determine your budget for your new home (based on Step 2) and get a pre-approval from a lender (contingent on your home sale).
STEP 4: Get your home market ready and listed for sale. A few tips: Price it right from the start, have a home Inspection prior to listing so you know if there are any major issues that could cause buyers to back out, stage your home, work with us to implement your custom listing plan. Negotiate a longer timeframe for contract to close.
STEP 5: Once you’re under contract on your current home, It’s time to start your new home search!
No matter what comes first – the chicken or the egg. we’re here to be your guide!
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