Princeton Town Topics – November 16, 2011
TIPS FOR SYNCHRONIZED SALES
Selling your home and buying a new one at the same time can be complicated. The best way to streamline the process and reduce stress is to prepare well in advance.
Several months before you list your home, meet with your REALTOR® to talk about how long it should take to sell your home in today’s market and what home improvements, price points and incentives will help to shorten that timeline.
Next meet with your lender to go over the details of both your sale and purchase plans. Your lender can help you calculate what you’ll get from your home sale, how much you can qualify for a new home, if you’ll need a down payment, and how this will impact your overall credit.
Because the timing between closing two different sales can be unpredictable, it’s important to arrange for temporary housing between homes. Having a housing backup plan and an extra cushion of cash will protect you from any schedule hiccups and make your transfer easier.
