Windsor Real Estate: Buying and Selling At The Same Time

Posted in Buyer Blog | 17/03/2012

Windsor Real Estate

Windsor Real Estate

Windsor real estate agents often juggle when a client is busy selling and buying a home at the same time.  Needless to say, it’s a crazy, hectic time for the buyer and the stress level can be high.  But the key is to be patient, organized and work closely with your agent to ensure that the process is as painless as possible.  So create a notebook dedicated to all important numbers, paperwork and details of dates, phone conversations and transactions.  This book will be your constant companion during the entire process.

If You Are Selling:

If at all possible, try to put your home up for sale well before you start looking for a new home.  Windsor real estate agentswould suggest that you list your home at a decent, fair and competitive price.  Make all repairs if needed and be flexible when the first offer comes through.  This is particularly true if you have already purchased a home and don’t want to have two mortgages. If a slightly lower offer comes in, consider that in the long run it might make more financial sense to accept it.  Insist that any buyer be approved within 10 days after accepting their offer.  You may also want to consider a rent-back option, where once your home is sold, you rent the house back for a limited time while you actively look for another home, or if the home you have purchased is not completed or escrow won’t close for some time.

If You Are Buying:

As mentioned, it is always wiser to purchase a home after selling your current home.  This way, you know exactly what you can afford and you don’t risk the chance of making two monthly house payments.  Get pre-approved and avoid any financial pitfalls by talking to a mortgage lender about your plans.  Is a bridge loan right for you?  These carry risks so be aware.  Windsor real estate agents will work hard to find you a home you are looking for, while actively helping you sell your current home.

In a perfect storm, all the pieces would fit together and the transactions would go smoothly. While this is not always the case, it is important to be flexible and diligent to ensure a successful outcome.

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