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Whether you are planning your first
move to a larger home or you’re an experienced real
estate warrior, coordinating a real estate move is an art.
The first piece of the puzzle
is to consider when to buy in conjunction with when to sell.
Here are a few choices that will need to be discussed at
length when we meet:
Buy first. Most people follow this
path. The positive side to this approach is that you don’t put your home up
for sale until you are absolutely ready. The disadvantage
is that you buy “contingent” on the sale of your
home, which makes you a less desirable buyer. In the long
run you may pay more, find the sellers less flexible and
even find yourself losing the home you really want. One aspect
gives you peace of mind while the others may involve risks.
Sell first. The positive side to selling your home before
you buy is that you buy from strength at what is usually
a better price and terms while decreasing the risk of losing
the home you really want. You also have the advantage of
knowing the exact price you received. The disadvantage is
that you may feel pressured to buy too quickly knowing that
your home is sold. You may want to view the market in general
to assess that what you are ultimately looking for actually
exists (in general). But the actual buying decision would
be delayed. This can be unsettling for many and may not suit
your needs.
Interim financing. By getting approved for interim financing
you can buy when you are ready and sell without panic. The
disadvantage is the potential of carrying extra financing
costs. You also have to qualify to carry the extra financing.
Again, some rewards and some risks.
So it becomes apparent that all the choices involve advantages
and disadvantages. So what works best for you? The key here
is a personal, no obligation or risk (finally something with
no risk), consultation with a proven, experienced Realtor.
25 years of residential real estate experience and 25 years
of unsurpassed customer service make the HomeDuo your best
choice. Call us today at 847.230.7077 or email us at info@homeduo.com.
It is our pleasure to serve you!
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