Remember that you have options when selling and buying simultaneously.

 

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Buying and selling at the same time causes a lot of confusion and keeps a lot of people from being able to move forward with a new home purchase.

 

The first thing that you want to do is talk with a real estate agent so they can give you the value of your home. Then you'll want to talk with a loan officer that can get you qualified for your new purchase and let you know what your payments would be. Once you've done both of those, you can put your home on the market and begin to shop for homes.

 

There are four strategies that most people use. What seems to be the easiest is to simply find a home that you like, then put your home on the market. The problem with that strategy is that it requires an offer that’s contingent on the sale of your current home.

 

The second strategy is most effective. Put your home on the market and negotiate with the buyers to make that transaction subject to the seller being able to find and close on a replacement property. That locks in the buyer at that price and with those terms.

 

"Talk with your real estate agent and loan officer."

 

The third option is to sell your home and have a long rent-back period. This could potentially be for free. The final option is some form of a bridge loan if you qualify with a lender to purchase your home prior to selling your current home.

 

If you have any questions about any of these options, please feel free to reach out to me via phone or email. I look forward to hearing from you.