When you’re thinking of selling your home and buying another, you face the
Should I list my property first or buy my new home first?
Let’s take a look at both options.
1. If you attempt to buy a property before listing your home, you could run into a
couple of challenges:
First, sellers may not take you seriously as a potential buyer. After all, you
haven’t put your own home up for sale. As far as they’re concerned, you
might merely be testing the market. Second, your property might not sell as
quickly as you thought it would. If there is an early closing date on the home
you purchased, you might end up owning, and paying a mortgage on both properties,
at least until your home sells.
2. If, on the other hand, you list your property before buying a new home,
sellers will know you’re serious. That puts you in a competitive position in
the event of multiple offers.
Also, if your home sells quickly, you’ll have the peace-of-mind of knowing
exactly how much of a new home you can afford. You’ll be able to shop with
Of course, like the first option, there is a chance that the closing dates won’t
match and you’ll end up owning two properties for a period of time.
However, solutions such as bridge financing are available to help.
So, there is no perfect answer. A lot depends on the state of the local
market and the situations of each party involved in the transaction.
If you need a great realtor to help you make that decision- call me TODAY!
I would be happy to sit down and work with you to help make the best
decision for your needs!