Here’s some advice for selling and buying concurrently in this market.
If you’re in a position where you need to sell your current home to buy a new one, I have some advice for you today.
Waiting to put your current house on the market until you find a new one can be a big roadblock. Most folks don’t like the idea of moving twice, so their goal is to wait to put their current home on the market until they find a new one. However, doing so adds significant time and pushes the closing date out, not to mention that it alienates sellers.
Sellers are hesitant to take the risk of you getting your home under contract in a few short weeks. When you ask a seller to wait for you to sell, it often puts them in a bind with their next home purchase as well.
“Waiting to sell might not be the best idea in this market.”
To compete in a situation like this, buyers will often have to pay more for their new home and take less for their current one to get it sold quickly.
Even though selling first can seem like a big hassle because you have to move twice, it can be the best option. It gives you the time you need to market your current house, get the best price possible, and put you in the best negotiation position for your home purchase. Since finding that home takes a little longer in this market, selling first is a smart, albeit slightly more inconvenient, strategy.
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
