Here are three tips on how to buy and sell a home at the same time.
If you’re a homeowner who’s been on the fence about selling your home, you’ve probably been concerned about how little inventory there is in the market. After all, you don’t want to sell your home without securing one to buy! Fortunately, you don’t have to go homeless when you sell your home in this market. Here are three of our best tips for buying and selling a home at the same time:
1. Plan properly. Selling your home is a big deal, but it has the potential to be very stressful. Mitigate your stress by talking to a local lender before you go house hunting so that you know what price point to shop in. You should also speak to a local real estate agent to help you plan the specifics of your sale, like how much you can expect to sell it for and what your cash flow will look like.
2. Hire a professional real estate team to guide you through the entire process. We’ll make sure to price your home appropriately to drive traffic through your doors so that we can yield the best terms and most money in the shortest amount of time. Then we can help you negotiate a post-occupancy agreement where you’ll live in the home for up to 60 days (typically rent-free) while we hunt down your next property for you.
3. Make sure to get a post-occupancy agreement. This is huge; depending on how much equity you had in the home when you sold it, you could have several thousand dollars in cash that may allow you to be a cash buyer for your next home. Not only that, but your offer on the new home also wouldn’t be contingent on the sale of your first one, making your offer that much stronger.
Don’t let buying and selling at the same time hold you back from building your wealth in real estate today. If you have any questions or would like more information, please feel free to reach out to us. We’d love to help you.