I often get calls from clients who want to buy a new home in today’s market, but the challenge is when they also have to sell their current home. Today I’ll share a few tips about how to navigate this type of double transaction:
First, list your home for sale before you start browsing for your new home. Today’s market is red-hot, and finding a home to purchase is difficult because there are so many more buyers than there are sellers. That means we need to put you in a competitive situation.
Second, we’ll make your home sale contingent upon your ability to find suitable housing. That means you need to find a buyer who is willing to work with you while you’re looking.
Once we’re under agreement on the property you’re selling, then start to aggressively look for homes. Sellers will know that even though your purchase is contingent, your current home is already on the market with an accepted offer, so the contingency won’t be a barrier. You’re simply waiting for the buyer’s financing to go through and close on the home. That will leave you in a much better position in sellers’ eyes.
If you own a home and are thinking of upsizing or downsizing, don’t hesitate to reach out to me with any questions you have. I would love to help you.