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Tuesday, December 17, 2013

Home Seller Tips: Should I buy my new home before I sell?

Should you buy before selling your current home?

In an ideal world I would say the clear answer is yes.  But few of us live in an ideal world.

Buying your next house could alleviate some of the stress of selling.  It could eliminate most disruptions to daily life.  It could make the move timeline your timeline instead of the unknown contract when it arrives.

Still, few are in a position to take such action.

A seller could go shopping for the new house and, if found, make an offer with a contingency on selling their home.  With the current market favoring sellers I doubt very many sellers would accept such an offer.

However, they may accept an offer with a kick out clause where the seller of the new home continues showing and if another acceptable offer comes the buyer with the kick out clause must decide to remove the contingency or cancel the contract

And there are also bridge loans if you qualify.  To examine all your options I suggest you contact your local Brevard County, Florida mortgage lender.  They can look at your credit, income, budget and provide real options to consider.

Finally, in the ideal world, if cash is an option, the answer is easy.

So should a seller buy their new home before selling the old home?  As with most questions in real estate,  it all depends.

Ready to buy or sell your Viera, Florida home?  Call me at 321-693-3850 if I can help.

Gary L. Waters PLLC
Florida Licensed Real Estate Broker Associate

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