Princeton Town Topics – Let’s Talk Real Estate – May 25, 2016
COORDINATING THE SALE AND PURCHASE OF A HOME IN THE HOT SPRING MARKET
Buying a home can be a complex endeavor, with every sale depending on a carefully-timed sequence of events to ensure the sale goes through without a hitch. If you need to coordinate the sale of your current home in order to finance your new home, the complexity can increase exponentially: Not only do you need to make sure your buyer is willing to accept your offer contingent on the sale of your home, but you also need to coordinate the escrow process and financing details in order to make your closing date. In a hot market, just knowing your purchase depends on the sale of your own home can scare some sellers off, even when you make a full-price offer.
The best way to make sure your home sale and purchase both occur as smoothly as possible is to work with a single agent who can make sure both events – the sale of your existing home and the purchase of your new one – are carefully coordinated every step of the way. Having an agent also helps reassure skittish sellers that their sale will still go through, even though the process may be a little bit more complicated.
