Posts from October 28th, 2019

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7 Tips for Buying and Selling a House at the Same Time

October 28th, 2019 by Napier ERA

Buying and Selling a Home

Buying and selling a home at the same time is essentially doing two jobs at once. Coupled with other life obligations, you will have a lot on your plate. While our real estate agents know it seems like a daunting challenge, the following tips can help you sell your home, buy a new home, and stay balanced.

Study the Market
Timing is critical, and you should have a solid understanding of prevailing market trends where your home is located and where the home you want to buy is located. This can help you position your home to sell so you won't have to wait to buy a home where you want.
Secure Funds for a Down Payment
Apply for a home equity line of credit (HELOC) before you list your home. This will give you access to funds you can use as a down payment. Alternatively, build up your savings, or speak with your bank about a bridge loan.
Be Ready to Make a Contingent Offer
If you find the home you want before you selling, then you may want to broach the subject of a sales and settlement contingency with the seller. This allows you to put an offer on a home with a first-right-of-refusal if the seller accepts your offer. Ideally, you will want to wait until you have an offer on your own home and then discuss a settlement contingency that allows you to buy the home when your home is sold.
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Categories: Buy a House

Tags: Napier ERA, Buying a house, Selling your home, Home-selling tips

Posts from October 28th, 2019

7 Tips for Buying and Selling a House at the Same Time

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