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We've been getting a lot of questions lately from buyers and sellers, wondering if you can buy a new home without selling your existing home first. Do you find a home you want to buy first and then list your home and sell it, or do you list your home and get it under contract before finding your next house? There's not an exact science and no precise answer to the question. Every real estate transaction is different and personal circumstances vary. That's why we strongly suggest a brief conversation to discuss your unique situation.*
In our experience, it can often make more sense to get your home on the market, know what your selling price is, and then go out and find the next one. That way you're ready and you know where you stand on the next home. If you are in the advantageous position of being able to acquire a bridge loan, utilize special financing, or have a strong cash equity in your current property, you may wish to secure your new place first. If not, it's nice to know your sale situation so you can turn around and find your next home quickly and effectively.
"There's not an exact science to this."
Sometimes a contingent offer is the only course-and if that's the case-a professional and seasoned Realtor can offer excellent assistance-especially in multiple offer scenarios. Check out our video for more insight, and reach out to us to discuss your unique and individual situation in 2016. We would love to hear from you!
