Home Transition Made Simple: Buying Before Selling Solutions
Three options for those who need to buy a home before selling.
How do you purchase a new home before selling your current one? Many individuals face stress in today's competitive market, where homes are selling rapidly at record-high prices, and many homeowners are taking advantage of the seasonal selling state.
The market hasn't shown signs of slowing down; it's currently November 2023, with low supply and high demand. The challenge lies in transitioning smoothly from selling your home to securing a new one without facing homelessness. Our priority is ensuring our clients avoid such situations. Here are three strategies you can do for a safe and seamless buying before selling.
1. Prepare your home for sale, work with a real estate professional to find your ideal property, and make a contingent offer. Make sure your home is ready to sell and work with an experienced agent to help you write a contingent offer.
“The market hasn't shown signs of slowing down.”
2. Include a clause. You can also include a clause in your listing agreement stating that you won't sell until suitable housing is found. This is especially helpful since we are moving into the winter months and you don’t want to be homeless.
3. Explore a bridge loan with a preferred lender. This loan allows you to use your home's equity to purchase a new home before completing the sale of your current one. In today's dynamic market, numerous strategies can facilitate your transition to the next phase of life.
We're dedicated to guiding you through this process, whether it involves buying before selling, utilizing a bridge loan, or structuring an agreement that aligns with your housing needs. If you want more details about this topic or have any real estate concerns, don’t hesitate to call or email me. I’ll be happy to help.