Here’s the process I recommend for buying and selling simultaneously.
Here are three things you must do when you’re in the process of selling your current home and buying a new one:
1. Speak to a lender. Get pre-approved and find out how much you can afford on your new home. The lender will let you know how much you’ll need for your down payment, closing costs, and the type of loan options you can get.
"Don’t start your search until your current home is at least on the market."
2. Speak to a Realtor. They will let you know how much your home is worth based on current conditions, go over the listing process from start to finish, and break down their fees.
3. Get your home on the market. With your agent’s help, get your home on the market. I would suggest not starting the search for your new home until your home is at least on the market. I actually recommend selling first, renting your home back from the buyer for a few months, then finding a replacement property. When you go to write an offer on your new home, you won’t be contingent on selling your current home first and will be a stronger buyer in the eyes of sellers.
If you have any questions about buying a home, selling a home, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.