uying a home and selling a year are typically the time when
home at the same time can the inventory of homes on the
be one of the most market is at the highest level.
difficult and nerve wracking of If you need to sell your home in
all real estate transactions. the fall or winter of the year,
Many people wonder how to juggle the time period between finding a
the selling of one home with the buyer for your current home and
purchase of another. They may be finding a new home could be much
worried that their home will not longer.
sell by the time the money is due
on the new home, or that they Add contingency clause
will be unable to find a suitable
home after their home has sold. It is also a good idea to tie the
sale of your home to the purchase
These are certainly valid of a new home. Consider
concerns, but there are steps the specifying in the sales contract
smart homeowner can take to that the sale of your current
increase the chances of a smooth home is contingent on your
buying and selling transaction. finding a new place to live.
Failure to write this contingency
Right timing to buy and into the contract could leave you
sell searching for a temporary place
to live if your home sells before
The timing of the two you find a new one. It is fairly
transactions can be very easy to add a clause to your
important. Many people find that sales offer that your offer is
they have the best chance of contingent upon the sale of your
buying and selling a home in the existing home. This will protect
spring and summer months. The you in case your home takes
spring and summer months of the longer time to sell than
anticipated. the same agent for the purchase
and sales transaction. That said,
Sell first buy later using the same agent for the
purchase and the sale might give
You're encouraged to put your you leverage when it comes to
home on the market before you negotiating the real estate
begin the search for a new commissions.
property. That time differential
will allow you to gauge the local Even though it is not necessary
housing market and give you an to use the same real estate agent
idea of how long it will take for the purchase and sale, it is
your home to sell. It will also advised to use the same title or
give you the ability to negotiate escrow company and the same real
the escrow period in order to estate attorney to handle the
give yourself plenty of time to transfer of both properties.
find a new place to live. Using the same companies for
these important transactions will
When buying and selling a home, help ensure that both
it is a good idea to have the transactions go as smoothly as
transactions close simultaneously possible.
if at all possible. This will
help you avoid the situation In addition, make sure you get
where you have to get out of your all your financial documents in
present home before you can move order and to fully investigate
into your new one. your financing options while your
home is on the market. This is
Utilize same services crucial, especially, for buyers
who are selling their current
It is also important to remember home and looking for a more
that you are not obligated to use expensive one. Furthermore,
having a pre-approval loan the time your home is on the
document in hand will give you market in a constructive way will
greater negotiating power on the help you a great deal.
purchase of your new home. Using
About the Author:
Andrew is the web owner "Buy and Sell House Fast Guide", a website that provides informational guide on home selling and buying, mortgage loan, foreclosure, real estate investment and more. You can visit his website at: http://www.buy-and-sell-house-fast.com/
Source: www.isnare.com
