Buying and selling a home at the same time takes careful planning. We start by listening to your situation, needs, and goals. Then, we formulate a clear strategy to help you achieve your objectives.
Here are some questions we’ll discuss when we meet with you in order to help us understand your objectives. Your answers to these questions will help us determine what options may be available to you.
- Which is more important to you: Making sure you find the perfect house to buy or making sure your current home is sold first?
- What one thing are you most concerned about related to buying and selling a home?
- How much equity do you have in your current home?
- How much money do you have easily available for the home purchase, not including equity in the current home?
- What is your current mortgage payment? What is your target for your new mortgage payment? (We’ll discuss overall price separately, but payment has a greater impact on strategic options for concurrent transactions.)
- What is your approximate gross income per month?
- What kind of loan are you planning to use for your purchase? (VA, FHA, Conventional, Jumbo, Other)
- How much money do you want to put down on your new home?
- How much do you want to spend (total price) on your new home? How much do you think your current home is worth? (We’ll help you with this part.)
- Have you considered keeping your current home as a rental?
- Do you have a 401k? (Don’t worry, we’re not suggesting you take any early distributions.)
- Do you have any options for temporary housing if there is a gap between the sale of your current home and purchase of a new home?
- How do you feel about owning two homes at the same time, even if only for a month or two?
- Do you need to move or do you want to move?
- Are you considering new construction, or will your home search be limited to resale listings?
CIRCA magazine, which you can request here, details eight different scenarios that we tailor to your specific needs as you sell your current home and buy a new one. We love the challenge of finding a solution that will work for you!