If You’re Buying Another Home...

You may wonder what will happen when you’re selling one home and buying another -- how will all the details work out? This is a common situation and REALTORS®, lawyers, and title and escrow companies have plenty of experience in arranging contracts and loans so that the two transactions dovetail smoothly.

And should you sell your home first then buy or buy first then sell? Ideally, it’s best to find a home you like and make an offer subject to selling your current home. This generally works in a normal market. However, in a “hot” market, like back in the 2005 market, many sellers may not accept a “subject to sale” offer because they can get they can secure an offer without contingencies so readily. In that case you would need to consider selling your home first and then buying a new home in the interim period between selling and vacating your house.

If you find that you need to buy the next house before you’ve received the proceeds from the present one, lending institutions can sometimes make you a short-term “bridge” loan to tide you over between the two transactions. Make sure you fully understand the exposure and emotional investment before proceeding with this type of loan.
What’s My Home Worth?
How to determine what your home is worth and set a sell price.
When Should I Sell?
What to consider when you’re ready to sell your house.
Getting Ready!
How to prepare your house to look its best to prospective buyers.
How Long Will It Take?
What to expect when you put your house on the market.
Why Use A Realtor® When Selling A Home?