Should you sell your current house before you buy a new one? The main dilemma here is the possibility of having no house to live in before you purchase the new one.
If you list your house with a Realtor, you could write “negotiable” under the closing date in the listing. Then you can ask a higher price from a buyer who wants to move in quickly, or can lower the price to induce a closing date that’s more convenient.
You might be able to convince your buyer to rent your house back to you until you can close on the new house. In this case, the buyer’s attorney may want to hold money in escrow to cover the rental and any repair costs incurred. This may be preferable, especially for large families, to moving twice and storing belongings.
One advantage of looking for a house after you have a buyer is that you know exactly how much cash you are getting, so you know exactly how much you can spend on a new home.
If you have any questions about Sell Before You Buy, you can contact us at +1(516) 829-2205 and +1(516) 647-4289. Additionally, you can find us on various social media platforms such as Google My Business Profile, Facebook, Twitter, Linkedin, Instagram, YouTube, and Pinterest.