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I want to sell my house and buy one in another town. Should I have a buyer for mine before I start l

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November 01 2013 - Ozone Park
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 You don't neccesarily want to wait for a buyer if you can afford to potentially carry 2 mortgages. The trouble is that most markets are heating up and buyers are lining up.  If you find your dream home and put in a offer with a clause that you need to sell your home first which may take many months your offer may be passed over for another that is ready to move now. 
  If you did find a new home your offer on it would carry more weight if say your present house was already under agreement.  If you cannot afford to carry the 2 properties then I would suggest getting your house ready to sell and sell quickly.  There are 2 things that sell a house and they are clean it which includes repairing anything that is broken and price it right from the start.  
 Once you have a accepted offer start shopping for your new home.
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November 01 2013
i strongly recommend you at least have a buyer first, at least have a sign Purchasa and slaes sugned by the buyer
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November 04 2013
If you need to sell before you can buy you should start the selling process first. If you wait you will have to find a seller willing to accept either a sell contingency or just hope your current property sells in time. This will make your offer weaker then one where the buyer can close right away. Sellers will choose the other offer. Sellers however will feel much better if your current home is at least in contract with a qualified buyer.
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November 04 2013
Yes, you will be in a much stronger position to have your home in escrow better yet sold before you start searching for your new home. If you buy your new home first w/ yours on the market, you will be very tempted to accept a price less than you would have had you sold first. Who wants less money in their pocket! Not you or I. Good luck!
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November 02 2013
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Thank you for the good advice!
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November 01 2013
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If you are eligible for two mortgages and are comfortable carrying two mortgages for some time (six months or a year or more), it doesn't really matter which approach you take.   

If you are not financially able to qualify for two mortgages, then having your current home on the market with a solid offer that looks good to close will help you on the other end.       

A mistake often made is making an offer for the new-to-you home with a contingency on sale of the old-to-you home, but not having the old home on the market or even close to being ready to put on the market.   Many sellers won't accept offers contingent on selling your current home, especially if the house is not yet on the market. 

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November 01 2013
I recommend putting your house on the market and looking as well. You can always use the situation as a negotiating tool as well.
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November 01 2013
Thanks for posting your question on Zillow.com!

I recommend putting your property on the market & looking at the same time.  You can negotiate the closing dates on both places with the buyer of your place & seller of the place you want to buy.  A good Realtor can facilitate this.

Good luck!    
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November 01 2013
Unless if you can buy the new home without having to sale your current home, it would be best to find a buyer first.
Easier to get your home sold contingent than buy one contingent on a sale.
Hope this helps!
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November 01 2013
 
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