It is not very easy to buy or sell a house. It can be an Himalayan task for anyone. That being said, can we do both at the same time? When we say just buying or selling is difficult, is it even possible to think about both buying and selling at the same time? Yes, it is possible to buy and sell a home. But everything depends on the skill of you or your real estate agent.
You or your real estate agent must have the ability to set the expectations clearly before getting into the property search for both buying and selling.
Most of the time selling a property is easy as the only thing you need to look for is the amount of money you need, but when buying a home there are so many challenges you may face and a lot of things to consider.
At the moment, there are more buyers in the market than the number of available homes. Real estate is booming again and let us list out a few important tips you must consider when buying and selling a home at the same time.
Which step to do first?
Not all buyers have the finance to buy a home without selling their existing property first. Real estate in the United States can be expensive and hence based on your financial situation you have to decide which one to do first.
If you have enough funds to purchase a new home without selling your existing one, then buying first is the right thing to do.
But what if you have found the right house to buy but do not have the funds to close the deal? In such cases, you have to request the seller to offer you an extended closing time. Most sellers will offer you 30-90 days depending on the offers available for the home.
While you get an extended offer for your new purchase, try as fast as you can to make your present home sales ready and display it in the market.
If possible hire the best real estate agent so that he can help market your site to his audience.
Selling a house before Buying
Selling a house can be a good option if you are willing to relocate to a rented property for a short period of time before you are able to buy a new home.
This is the ideal move if you receive a very profitable offer. This way you can sell the home for a profit and wait for a profitable purchase offer similar to your sales.
Consider requesting lease back time if you are not willing to relocate to a rented house for a short period of time.
You can do both buying and selling at the same time. The only thing is you have to plan it perfectly as per your current financial situation. Most people in the united states usually sell before they decide to purchase a new home.