You’ve decided it’s time for a new home. Maybe your family has outgrown your current home or it’s time to downgrade now that the kids are grown up and on their own. Whatever the reason, you need to buy a new home and sell your current home. This can be done in three basic ways:
Buy a new home first, then sell your current home.
- Move only once. There’s no need to move somewhere temporarily because your current house sold before you found a new one.
- Financial Burden. You will be paying two mortgage payments and utility bills for two houses at the same time until you sell your old home.
- This is the exception – not a lot of people can do this
Sell your current home first, then buy a new home.
- Financial Freedom. You go directly from making one monthly mortgage payment on your old house to making one monthly payment on the new house. No leftover bills from your old house to contend with.
- No rush. Take the time to get the best offer for your home. You won’t have to accept a lower offer because you are in a hurry to sell.
- Most families looking for a home will put their current home on the market. In the meantime, if they find a house they would purchase they make an offer contingent on their house selling.
Buy and Sell at the same time.
- Only move once. When the timing is right, you can close on your new home and move in before you have to vacate the old one.
- No financial burden. No need to pay two sets of bills for two houses for any length of time.
- This is probably the best situation but as stated above, timing is important. Most sellers will arrange their closing date to correlate with the date they move into their new home.
- Tricky timing. In order to pull this off, timing has to be impeccable. The scheduling of closing dates has to be just right to prevent you from having to vacate your current home before you can move into your new home and to avoid extra costs.
If simultaneous buying and selling of homes sounds like the best option to you, you need the right partner. Consider buying through and listing with Smith Marketing and Allen Tate Realtors. Smith Marketing’s expertise on Greensboro real estate means you will find the home you are looking for while your home is sold. Smith Marketing knows how to list your home to make sure it sells. And you will have all the help you need to find the best new home for you and your family. Browse the complete online listing of homes for sale in Greensboro, NC. Use the Advanced Search to narrow down the criteria until you find just what you’re looking for. Meet with a realtor to start touring homes. Find a great new home. Sell your old one. It’s that easy with Smith Marketing.
More on buying and selling real estate: http://www.realtor.com/advice/sell/how-to-sell-your-home-and-buy-another-at-the-same-time/