Sell Before You Buy

You need to sell your home before buying a new one.  It may seem like you’re setting yourself up for disaster.  Where are you going to go?  Rentals and storage are usually a great option and there are many great reasons to list your home before you start looking for your next.  Below is just a few of the many reasons you should know the order that will benefit you the most.

Money – Can you really afford two mortgages?  If you put in an offer on a new house and your current one doesn’t sell that may be a reality that you face.  With fewer houses on the market a contingent offer is less likely to be accepted than a non-contingent one.

Finances – When you sell first you know how much you received for your home and therefor how much you can spend on your new home.  You probably even freed up some credit with your bank, allowing you a better position when you make an offer on your dream home.

Time – If you have a contingency in your contract on a  new home, you’ll feel pressured to take the first offer that comes your way.  This may not be the smartest plan and you could lose money on your current house in order to make your deals go through.

Leverage – By having the money from your sold home, your credit freed up and no contingency on your offer for a new house you will be in a very powerful position to place an offer on your dream home.  When inventory is low, multiple offers are frequent.  Having this leverage will make your offer more appealing and help you get the home you really want.

There are many plans and strategies when dealing in real estate.  To find out more or to make a plan that’s best for your family call Helen today at 847.967.0022 or email [email protected].