How to Buy and Sell Simultaneously

Pulling off the simultaneous buy sell in real estate can be tricky. If you are currently a home owner and you are thinking about moving, you will undoubtedly be aiming for this. You want to eliminate the possibility of paying two mortgage payments at once. You also do not want to be without a place to move in between houses. Therefore, you have to walk a delicate balance between selling your house quickly and finding the home you want to buy. Here are a few things that you need to keep in mind if you are trying to sell and buy at the same time. 

Plan Ahead

The best thing that you can do in this situation is plan ahead. Before you list your house, you need to take some steps on the front end and insure a smooth transaction. The first thing that you need to do is assess your current situation. Look at your finances and decide if you need to eliminate bills or if you can take on a bigger load. If you are struggling mightily to get by every month, you might think about scaling back. If you have plenty left over every month, you might be able to get a bigger and better house.

Pre-Approval

Once you determine your monthly budget, you should speak with a loan officer. Talk to the bank that you want to do business with and tell them what you are planning to do. They can pre-approve you for a loan contingent upon you selling your house. This way, you will not have to wait on financing once you find a house and you will know how much your payments will be. Taking care of the approval process on the front end will make things go much smoother later on.

Prepare Your Property

When you are ready to sell, you need to prepare your property. Get it in great condition. Go through your property inside and out and determine what needs to be done. If you need to touch up some paint, repair flooring, or do some landscaping, now is the time to do it. You need to pretend that you are a prospective buyer and make it look good. Making your property look good on the front end will help you get the sale that much faster. 

Hire a Good Agent

Once you have your property ready to go, you need to hire a great real estate agent to help you move it. While you might be able to save a little on commission by selling the property yourself, it is usually not good when you need a quick sale. A real estate agent can help you get massive exposure. The information about your property will be disseminated to those that need it. A real estate agent will work hard to get your property sold as quickly as possible. If you work for a living, you do not have the time to devote to it that you will need to sell it quickly. 

 

 

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