Selling your house involves a lot of work in preparing to sell, research, and making the necessary decisions along the way. Add to that the entire process of buying a new home as well, and the whole thing can be overwhelming. How does one go about this? Should you buy a new home first and then look to sell? Would it be better to sell your house and take the risk that you’ll be able to find something new in time? Take heart with these tips from Brookfield IL real estate agent Agnes Halmon.
Buy First Then Sell
This scenario is ideal in that you don’t have to worry about being out a place to live. In order to have this option, you will have to qualify for paying two mortgages at the same time during the transition. Experience as a Brookfield IL real estate agent has revealed that this is no doubt difficult for most. If, however, this is within your means you will have the advantage as both seller and buyer. You will be able to get the price you want for the house you’re selling, and shop around for your dream house that you will be buying.
Sell First Then Buy
This option works best if renting is involved. You can focus on selling your current house, and doing working through that process well. Then, while you are renting in the interim, look for your next dream house. Serving as a Brookfield IL Realtor means providing solutions that make the process less stressful. This path enables you to focus on one thing at a time without feeling rushed. You get the advantage as both the seller and the buyer in this option as well. The down-side of this is having to rent. It might be difficult to find something that is short-term, and you might have to utilize storage. If you are moving to a new state, this could be a good option. Fore more information on transitioning, contact Brookfield IL real estate agent Agnes Halmon.
A contingency is a condition that is put on a certain action within the buying or selling process. For example, the sale of a house might be contingent upon it passing an inspection. The first is dependent on the second. Another example might be the sale of a house being contingent upon the buyer getting approved for a loan. This has been a common occurrence among clients in Brookfield IL real estate. Other contingencies can be added to a contract. For example, you might put in an offer on a new house and make it contingent upon selling your current house. This option has its drawbacks. In short, it is a weak offer. The seller is likely to take another offer rather than bank on you selling your house.
Another option related to this one is to put your house on the market, get it under contract, then put in an offer on the house you want to buy and include the same contingency. The fact that your house is on the market might be more acceptable to the seller from whom you are looking to buy. Working as a professional Brookfield IL Realtor has provided many opportunities to serve those in transition from one house to another. Each situation is different. So of these options, how do you choose the best for you? Choose the right real estate agent and allow them to walk you through each of the factors involved. If you are in or around the Chicagoland area, contact Brookfield IL real estate agent Agnes Halmon for all your real estate needs.