It's ideal to secure a replacement home before listing your own for sale. Generally, there are only a couple ways to structure this transition:
1. Having the ability to purchase the replacement home regardless of selling your current property.
2. List your home for sale and make the sale contingent upon the purchase of a replacement.
Option 1 is ideal in most markets because there are no contingencies when making offers. However this would require the client have the financial ability to qualify for financing, have the additional down payment in cash, or purchase all cash. Most people do NOT fall into this category and their ability to purchase is dependent on the sale of their current home.
Option 2 is typically the default choice for those sellers who want to sell and buy a replacement because most people can't qualify for financing without selling their current home and also need the proceeds from the sale for a down payment on the new purchase.
We are experts at structuring transitional sales and ensuring all aspects of the transactions are covered so that sellers relaxed during the process. Selecting the right real estate professional is key to these complicated moves if you want to avoid:
We have successfully assisted sellers regardless of the method (buying before selling or selling first). For a detailed analysis of your specific situation fill out the seller information form below and an experienced listing agent who has handled these types of sales will contact you to discuss your options.