Buying and selling: Which comes first when you're moving?
Brought to you by Lisa Willett - The Hasson Company Realtors - REALTY INSIDER -
Unless you're heavily involved in the real estate market, chances are that things have changed dramatically since the last time you purchased a home. And more than likely, you've changed too!
Now that you're in the market for a new home, however, you'll have to decide whether you'll buy your new home first or wait until you sell your current one to start looking. Part of this depends on how much risk you're comfortable taking on.
If making two loan payments at once sounds like it's stretching your finances a bit thin, you're probably better off waiting to buy until after your current home first.
There are, however, steps you can take to move forward in the buying process even if your home hasn't sold yet. One option is to make a purchase offer that's contingent on your home selling by a specific date. This gives you the time you need to sell and settle before committing to a new home, and helps you avoid owning two homes.
Conversely, if you've found a buyer for your current home but haven't yet found your next home, you can negotiate a long closing period on the sale of your home to give you extra time with your home search.
These are just some of the ways to help ensure the timing of your next sale and purchase are a success. For more help navigating today's complex real estate market, call me today at (503) 318-7585 or visit lisawillett.hasson.com
Lisa Willett - The Hasson Company Realtors
15400 Boones Ferry Rd, Lake Oswego, OR 97035