|
Buy And Sell At The Same Time
There are challenges, but being prepared can ensure everything goes right when you purchase a new home and sell an existing one at the same time.
Team up with your realtor, lawyer, lender, appraisers, inspectors and movers. Keep the lines of communication open with everyone. Use a notebook to record the dates and details of phone conversations as well as face to face discussions. Instruct your realtor to let you know about any problems as soon as they arise.
When selling, consider having an inspection to uncover any underlying issues that you can repair or adjust for your asking price. List your home for sale as far in advance as possible before purchasing your new home. Ask for a long closing or a rent back option; require the buyer to be pre approved within 5-10 days of accepting the offer. Don't overlook a lower offer that allows you more flexibility with respect to your closing date.
When purchasing your home check what's available in your price range before putting your home on the market, assess what you can afford and get pre-approved for a mortgage, have the property thoroughly inspected and make sure it can be insured before you make an offer. Read all documents related to your home purchase.
Before you move, sort out what you want to keep from what you can donate or throw away. Use a to-do list as well as a home inventory list. Record everything you pack and number your boxes. Notify the utility companies and postal service for dates to start/move services. Keep a detailed record of all moving expenses.
Always have a back up plan. Trading spaces is complicated. If you have to sell before you find something you want to buy, or you find the perfect house before you sell the old one, then you may need interim housing.
aa
Email Page | Print Page
|
|
|
