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How to buy and sell a home at the same time

HOW TO BUY AND SELL A HOME AT THE SAME TIME - TIPS & ADVICE 

From Your Santa Cruz Realtor, Jessica Wallace

I have worked with many clients that have to sell their current home in order to buy their next one, whether they are downsizing or upsizing.  Buying or selling a home can be a daunting process, and thinking about having to do both at the same time can seem overwhelming.  I am here to help you with this process and make it as easy and stress free as possible.

 

Here is some advice I have about selling and buying a home at the same time:

 

 

Ideally you would list your home for sale before you find your replacement property. There are a couple of reasons for this.  One is that you will know what the true market value of your home is once you get an offer or offers on it.   Your home may sell for more than you think, increasing your future buying power.  Another reason to get your home on the market first is that if you get your home in escrow you will be in a much stronger position as a buyer when you are making a contingent offer on the sale of your home. Your home will already be in escrow which will make that seller of the home that you are trying to buy feel more comfortable.

I know it can seem scary to sell your home before you buy but in order to protect you what we do is make the sale of your home Contingent on you finding and closing on a replacement property - that way if you cannot find a suitable home to buy you are not stuck selling your home and you won't be homeless!  This is how you can give yourself the security in knowing that you will not be forced to sell your home if you can't find a new one.

 

If you are truly to nervous to put your home on the market before you find your next one my next tip is to have your home ready so when the right property comes up you are ready to pull the trigger and can get your home on the market ASAP.  I recommend de- cluttering your home, doing touch up painting, landscaping, etc . . . anything that will improve your home.  I would then recommend getting professional photos done - this is where I come in, I arrange for professional photos on all of my listings.

With the photos I would then create a website and basically hold it until we find your replacement home.  With your offer I can present the website and photos of your home and let them know that you are ready to put your home on the market ASAP and it is beautiful and ready to go!  This will help make your offer more attractive by showing that you are ready to go to market  and more palatable to a home seller.

Make sure to have the purchase of your new home contingent on the successful sale and close of your current home - that way if your buyer backs out of the contract your deposit will not be at risk.

By tying the sale and purchase of your old and new homes together with contingencies, you are protected and can feel more confident in making your next move.

 

There are many different ways to handle buying and selling a home at the same time.  I can help you strategize and see what would be the best way for you.  Sometimes it does take some planning ahead and I am happy to be your resource to help you make your next move.

 

Contact me anytime at 831.419.9345 or yoursantacruzagent@gmail.com

 

Curious about the value of your home?  Check it instantly here:  www.SantaCruzHomePrice.com 

 

Search all homes for sale in Santa Cruz County here:  www.BuyorSellSantaCruzHomes.com  

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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Jessica Wallace
Realtor
Coldwell Banker
831 419 9345
Licensed In: Ca
License #: 01455690
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Comment balloon 0 commentsJessica Wallace • September 27 2017 10:54PM
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