Princeton Town Topics – Let’s Talk Real Estate – February 16, 2011
BUYING AND SELLING AT THE SAME TIME
Buying a new home while selling your present one can be a challenge. With so many details to juggle, planning and teamwork are essential for a smooth transition.
Since timing is an issue, try to sell your home as early as possible. Work with buyers who are pre-approved by a lender. Buyers who are currently renting can be very flexible with a closing date and may be open to a slightly higher offer as a trade-off for a specific deadline.
In the meantime, you need to look for and buy your new home. Work with your REALTOR® to find the right property in the new location. Timing concurrent closings can be tricky. A bridge loan or a home equity line of credit can give you money to buy new property while you wait for your home to sell.
There is a lot to manage with selling and buying a home simultaneously, but your REALTOR® is very experienced in this process and will help you every step of the way.
