3 Strategies on How to Buy and Sell Real Estate at the Same Time

Dated: May 20 2021

Views: 973

Are you a homeowner who really wants to buy but isn’t sure how to sell your home and buy at the same time? There are two key things that you need to think about :

 

1. Is your home purchase contingent on the sale of your existing house? That's going to determine a lot of things in the negotiation.

 

2. Do you not have to worry about selling in order to buy? Those two things are critical to the way that you approach lending. 

 

Within the contract, there are three more things that you need to know about to keep you from being homeless when you go to sell your home:

 

1. Coinciding Settlements. These allow you to sell your home in coordination with the house that you're going to buy. In your contract, there should be language that allows you to coincide these two settlements. 

 

2. Contingency. Doing this lets you accept the buyer's contract and then have 30 days to find your new home. If you can't find your home, you could extend, or you can just cancel the contract.

 

3. Rent back. If you need to sell your home in order to buy you can sell your home and then become a tenant using a rent back.

 

If you want to talk about more real estate strategies, you can email us or give us a call and we'll be happy to help you.

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Kim Barber

Buyers - Whether you're looking for your first home, your dream home or an investment property, I'm committed to providing you with the highest quality buyer service. When making the type of investmen....

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