Owner financing, sometimes referred to as seller financing, is an alternative real estate purchase structure where the seller extends credit to the buyer to cover the home purchase price, except for
Sell First, Buy Later: The Art of Home Juggling ๐คนโ๏ธ
Dated: September 3 2023
Views: 1841
Have you ever wondered about the real-life Realtor® secrets to orchestrating the perfect home sale and purchase ballet? It takes some serious skill. Wonder no more because I'm about to spill the beans on why selling your current home (or at least having it under contract) before offering on your next home is the real estate equivalent of a mic drop. ๐ก๐๐บ
1. Dancing with Two Homes: A High-Stakes Act
Picture this: you've found your dream home, and it's love at first sight. But there's one hitch - you still need to sell your current place to make the move. Buying first can feel like diving headfirst into a pool without knowing if there's water at the bottom (so many heartbreaks). Selling first, on the other hand, gives you a safety net.
2. You're a Hot Commodity
When you put your home on the market before looking for your next abode, you become a hot commodity in the real estate world. Sellers love working with buyers who already have their own home under contract. It shows that you mean business, and they're more likely to take your offer seriously, feeling confident in accepting it.
3. Avoid the Pressure Cooker
Buying a home while simultaneously selling one can feel like trying to juggle flaming swords if you don't have the right team behind you. It's stressful, chaotic, and can lead to making hasty decisions you might later regret. By getting your home under contract first, you're giving yourself the gift of time, and thankfully buyers are super flexible on timing in this market. This gives you the ability to negotiate your sale with a clear head and without the pressure of a ticking clock.
4. Know Your Budget
Selling or getting your home under contract first means you'll know exactly how much you've got to spend on your new place. No more guessing games or trying to fit a square peg into a round hole financially. You'll have a concrete budget to work with, making your house hunt smoother and more focused.
5. Strike While the Iron's Hot
When you've got your home under contract, you're in a prime position to jump on those hot properties that hit the market. No waiting around for your own sale to close or to accept an offer = no missed opportunities. You'll be ready to pounce on your dream home before someone else does.
7. No Buyer Contingencies Holding You Back
Many sellers shy away from buyers who need to sell their current home first - and by many, I mean "most." Thing about it, it you were them, what would you do? By being a seller without these contingencies, you'll have the upper hand when making an offer. You can swoop in and secure your next home without any hitches.
So there you have it, folks! Selling your home, or at least getting it under contract before buying your next one is the real estate version of walking a tightrope with a safety net – it's smart, strategic, and stress-reducing. If you're considering making a move in the real estate world, remember that I'm here to guide you through the home-buying and selling dance. Together, we'll make sure you land on your feet in your dream home, and as alwasy, keep your stress to a minimum! ๐ก๐๐บโจ
Kate Fisher
Meet Kate Fisher, the South Shore's resident Realtor® and experience-obsessed marketing strategist! When it comes to buying or selling a home, this real estate expert goes above and beyond to prov....
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