5 Tips for Buying & Selling Your Home Simultaneously
You may come to a point in your life where you are ready to sell your first home and move into a larger home. Whether your family has outgrown your first home, or you have decided to move into a different neighborhood there are several buying and selling tips that you need to know before signing up with this somewhat risky task of buying and selling at the same time. Your best real estate agent at the Lake of the Ozarks can help you navigate and mitigate the risks involved by buying and selling a home at the same time.
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TIP #1- KNOW YOUR MARKETIs it a buyers’ market or a sellers’ market? Make sure you do your due diligence in researching this topic, this will help you decide when you need to place your current on home on the market and when you will need to seriously start inquiring about purchasing a new home. If you have questions about the market, contact a real estate agent at Lake of the Ozarks, they will be able to answer any questions you may have and explain how the buying and selling process works from start to finish.
Tip #2- CONTACT A LENDERDon’t lay in bed at night with questions running through your head about how you will be able to buy and sell at the same time! A reputable lender will help you go through all your options. At that time, they will be able to give you a pre-approval letter that you can submit with any offers that you are making on a home. Remember, your letter may have included the value of the home you are currently living in. If you sell your home after the pre-approval letter is issued it can be tricky because the pre-approval was based on you owning the home at the time of the letter. Make sure you ask your lender what will need to be done if this happens.
TIP #3 - SEARCH SEARCH SEARCHBefore placing your home on the market, make sure you do your research. Google will be your best friend when you search. Make a list of must haves, wants, and wishes in your new home. This will help you narrow down the process right from the beginning. When you have a good idea of what you are looking for…the market that is out there…. and you feel confident that you can find the home you are looking for; it is time to place your current home on the market.
TIP #4 - CONTACT A REAL ESTATE AGENTAt Devine & Associates we know the best strategy for buying or selling your Lake of the Ozarks home is by using a real estate agent that knows how to quickly buy/sell a home. Now is the time to contact us if you are considering buying and selling a home. We will listen to you about your situation and will ensure you have the best possible information during this sometimes-stressful endeavor. We will help you develop your wish list and narrow down your search. We will also ensure we are on the same page with your budget. We can save you time at looking for homes that are out of your budget and we will be able to show your current home to serious buyers.
TIP #5 - MAKING AND ACCEPTING OFFERSWhen an offer is made on your home read the fine print and understand the contingencies that may come with the offer. The closing date is very important since you will now want this to coincide with a closing date on your new home. If you can make these dates work, this will save you from the stress of moving into a rental until you have closed on your new home. If you haven’t found the home that you want to make an offer on, don’t make a rash decision and put in an offer on a home that isn’t right for you. Finding a short-term rental maybe a better decision than living in a home that you don’t really want.
Devine & Associates are here to helpThis can be a very stressful time in your life but remember this can also be the happiest time of your life when planned correctly. Hiring a real estate agent at the Lake of the Ozarks that you believe in, can help make this process run smoothly and you will have someone you can always call with questions or concerns. At Devine Associates in Eldon, MO we are here to make buying and selling at the same time a wonderful experience for our clients. Reach out to us at anytime and we will set up a consultation to start this exciting time of your life.
Devine & Associates Would Love To Help You Buy A Home!Our real estate team in Eldon, MO would be thrilled to help you buy your first home. We specialize in first-time buyers and we understand the unique challenges and concerns many people in your situation face. If you are thinking about buying your first home, we hope you'll give us a call!
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