Buying And Selling At Once: Should You Do This?


If you have outgrown your current home and plan to move to a bigger house, should you start looking for a house to buy while selling your home? Many people wonder this, but every situation is different. It is often better to sell a home before buying, but you can buy a house while selling. Here are some tips to use if you want to do these tasks at the same time.

Hire a Real Estate Agent

First, you will need an agent to help you sell your house and find a new one to buy. The agent's tasks will be different for each of these goals, but agents can help with both. The agent can give you instructions about what to do to sell your house, and he or she will also begin looking at real estate for sale to help you find the right home. You must have an agent if you plan to do these tasks at the same time.

Use the Right Contingencies with the House You Buy

If you list your home, you might get showings right away. While someone might offer to buy your house right away, there is also a chance it might take some time to find a buyer. As you wait for a buyer, you can begin looking at real estate for sale.

When you come across the home you want to buy, you may need to use an extra contingency with the offer you make if you have not sold your house yet. If you want to avoid having two mortgages, your real estate agent will suggest using a contingency on the purchase offer. This contingency tells the seller of the house that you must sell your house before buying this one. The seller does not have to agree with your contingency, as it might delay the sale of their home.

Increase the Chances of the Seller Accepting the Contingent Offer

If you want the seller to accept your offer, you can do a few things that might help. The first is to offer to pay full price for the home. A full-price offer is hard for a seller to turn down. Your real estate agent can recommend other tips to help you write a good offer, too.

If you have questions about buying a house, selling one, or doing both, talk to a local real estate agent to learn more about this event. 

To learn more, contact a resource like Lake Cumberland Real Estate Professionals.


6 August 2020

Keeping It Real With Real Estate

When you decide you want to sell your home or buy a new one, you will need to hire a real estate agent to represent you. A good agent will do most of the legwork as far pricing the home, creating a listing, and advertising the home goes. However, you will need to work beside them and make decisions along the way. We've created this website to give the average home seller or buyer a little more insight into the world of real estate. Learn how to find a good agent, help them do a better job for you, and navigate the sale process in the articles presented on our pages.