Today I'm talking to you about how to buy and sell at the same time. A lot of sellers are looking to upgrade or change their living situation. This means buying another home once they're able to sell their current one. This presents a couple of challenges, mainly with financing. Here are a few tips for how to buy and sell in this market:
1. Buy first then sell. If you have the ability to purchase a new home while you still own the first one, that's always the easiest thing to do. That gives you the time to move out of your old home at your discretion and the ability to look around for a new one.
2. Make a contingent offer. We can make an offer on your new home contingent on the sale of your old one. The issue is that in today's seller's market, a contingent offer is not as strong when you're competing with non-contingent buyers. You have to put in a strong offer to win. If your current home is already under contract, that's great, but it also means that you're short on time.
"A lot of sellers are looking to upgrade or change their living situation."
4. Sell then buy. This allows you to free up your credit, get that equity out, and then start looking for a home. The issue with this is that you're going to have to move not once but twice and find some temporary housing.
If you're looking to do anything in real estate, I'm always here to help. I'd love to sit down, go over things with you, and figure out your best option. Give me a call at 505-603-2435. Have a great day.