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Answers (2)
- Martin Wareing, "Martin Wareing"
- Contributions:3772
TX,
Test the "sale" waters first... Your 25% equity may really be 2.5% until you have "action" on the home.. Many people in many areas are getting very sobering news on offers and the appraisals that follow. Most potential contracts are 30+ days in advance, but even if you begin to look "at the same speed" as the traffic at yoru home... that would be OK as well. In the event you decide on a CONV loan, you will take some pricing hits for your score, so be advised of that here and now. You may elect or be forced to consider an FHA loan only. That has good and bad to it as well. In a real estate market where a buyer owns a home as well, it usually is a wash in terms of values. Your home may be doing well or poorly in the market, but chances are, so is the home you are interested in as well. They are the same comodity. Good luck to you, but list the home and that will tell you wonders and I am not a RE agent. :)
Test the "sale" waters first... Your 25% equity may really be 2.5% until you have "action" on the home.. Many people in many areas are getting very sobering news on offers and the appraisals that follow. Most potential contracts are 30+ days in advance, but even if you begin to look "at the same speed" as the traffic at yoru home... that would be OK as well. In the event you decide on a CONV loan, you will take some pricing hits for your score, so be advised of that here and now. You may elect or be forced to consider an FHA loan only. That has good and bad to it as well. In a real estate market where a buyer owns a home as well, it usually is a wash in terms of values. Your home may be doing well or poorly in the market, but chances are, so is the home you are interested in as well. They are the same comodity. Good luck to you, but list the home and that will tell you wonders and I am not a RE agent. :)
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
I beleive this is a duplicate post. Here is my answer on the other thread.
http://www.zillow.com/advice-thread/What-is-the-best-way-for-me-to-sell-my-home-and-buy-another-Should-I-wait/342383/
http://www.zillow.com/advice-thread/What-is-the-best-way-for-me-to-sell-my-home-and-buy-another-Should-I-wait/342383/
How to go about selling my house and buying another?
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