fbpx

Compare Listings

Should You Sell First and Buy Later? Or Vice-Versa?

When you’re thinking of selling your home and buying another, you face the inevitable question: Should I list my property first or buy my new home first?

 Let’s take a look at both options. If you attempt to buy a property before listing your home, you run into a couple of challenges. First, sellers may not take you seriously as a potential buyer. After all, you haven’t put your own home up for sale. As far as they’re concerned, you might merely be testing the market. Second, your property might not sell as quickly as you thought it would. If there is an early closing date on the home you purchased, you might end up owning, and paying a mortgage on both properties, at least until your home sells.
If, on the other hand, you list your property before buying a new home, sellers will know you’re serious. That puts you in a competitive position in the event of multiple offers. Also, if your home sells quickly, you’ll have the peace-of-mind of knowing exactly how much of a new home you can afford. You’ll be able to shop with confidence. Of course, like the first option, there is a chance that the closing dates won’t match and you’ll end up owning two properties for a period of time. However, solutions such as bridge financing are available to help. So, there is no perfect answer.
A lot depends on the state of the local market. Looking for a good REALTOR® who can help you decide which is the best move for you? Call today.
img

Kalmia Hockin

Admin for Robles Real Estate

Related posts

  • News

Renting Vs. Buying a Home

By Dominion Lending Centres Via REW.ca If you are at a point in your life where you are...

Continue reading
by Kalmia Hockin
  • News

Housing Market Activity Reaches Historic Peak Levels

SURREY, BC – Consumer demand for real estate in the Fraser Valley remained robust for the fourth...

Continue reading
by Kalmia Hockin

From Rock-n-Roll to Real Estate – Meet Kelly!

Meet Kelly - our team coordinator and client care manager extraordinaire and former rock singer....

Continue reading
by Kalmia Hockin