Coordinating the sale of your home with a new home purchase can be tricky and stressful. Whether you buy first and sell later or vice versa, you will find that there are obstacles to overcome. Let's look at the first option...SELL FIRST, BUY LATER. Many homeowners often fear that if they sell their home before they are in contract to purchase a new home that they will find themselves stranded with no place to go, or that they will be forced to settle for a home that is not exactly what they had hoped for. On the flip side, if you try to BUY FIRST, SELL LATER, often times, you may find the home that has exactly what you want, but those sellers will not be willing to tie up their home to someone with a home sale contingency. That usually leaves the client in a very frustrated and now in a vulnerable position to potentially sell their home for less than they may have gotten if they sold first, bought later. When your home is already in contract and you now put an offer on the property you wish to purchase, you have more negotiating strength. You are now considered a serious and qualified buyer as opposed to someone that is not able to follow through with the purchase. As Real Estate Professionals, we completely understand the apprehensions of sellers when it comes to making these types of decisions. Leanne & Anna have experience in making your transition as smooth as possible, and can be trusted to make recommendations for your situation that will help you yield the best possible results during negotiations.
While there is no "right" answer when it comes to Sell First vs. Buy First, there are several pros and cons to either situation. Your unique situation needs to be analyzed by a real estate professional and at that point they can offer you the best possible advice. However, generally, you will find yourself in the best position if you sell first and then buy. Often times the buyer of your home will understand that you need time to find something and will be reasonable in their expectations of closing time frame. remember it is ultimately you, the seller, who signs the contract and agrees to the anticipated closing date, so you are usually in the driver's seat when it comes to that.
If you are considering making a move, we can assist you in coordinating that transition and making the process as smooth as possible. Contact Anna or Leanne today to discuss your options.
article courtesy v. vargas Robert DeFalco Realty, New Jersey
