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Replies (5)
- DEBORAH CONTI, "ListingSpecialist"
- Contributions:566
I highly suggest you have a Current Market Analysis done on your current home first. Then, you will be in a position to know the market value of your property. You can then do the math, what you owe, how much you need to pay off, then the balance...money you will have to put down on another home. Putting your house on the market and buying another while it is on the market is very possible. I've had many double same day closings for seller's who closed on their old and new house the same day! If you don't owe anything, then doing the numbers will also give you an idea on how much you have to buy the next home. But, you can list and buy at the same time. With the right agent, it is a stress free process! Good luck
- Eric Stein, "estein0706"
- Contributions:106
It depends on your individual sititution. some people are ok with holding 2 mortgages, but to others it can be a big problem. It is very importnant to speak with a REALTOR to see how salable your home is and to have an idea what you home is worth in todays market. It also depends on if you have down payment money available without the sale of your current home. Most banks will not lend you money on a new home until your old home is sold because it will show 2 mortgages and your debt to income ratio might be to high. My advice is to consult a qualified professional.
- Richard Combs, "RichardMCombs"
- Contributions:186
I would list the property first and start your search for a new home. Your Agent will guide you as to the current value range. This will give you enough time to find a new home and explore your financing options.
- Karen Seawell, "kseawell"
- Contributions:1
Many find a home they may want to have prior to even listing the home they are living in on the market. You will benefit more from following this order:
1) Consult with a REALTOR first for pricing strategies on your current home including what you may expect to net in today's market. Your experienced REALTOR should also be able to assist with ideas for making your current residence appeal more to buyers and sell in a timely manner.
2) Once you have selected a REALTOR and have listed your property, begin looking for other properties to move to with your REALTOR.
It is a simultaneous project in that you will have a good idea of where you want to move prior to receiving an offer on your current home. You will not be locked into two mortgages.
1) Consult with a REALTOR first for pricing strategies on your current home including what you may expect to net in today's market. Your experienced REALTOR should also be able to assist with ideas for making your current residence appeal more to buyers and sell in a timely manner.
2) Once you have selected a REALTOR and have listed your property, begin looking for other properties to move to with your REALTOR.
It is a simultaneous project in that you will have a good idea of where you want to move prior to receiving an offer on your current home. You will not be locked into two mortgages.
- Linda Strasberg, "L Strasberg"
- Contributions:2315
#1) Are you paying cash? #2) Do you need to sell before you can buy? If you answered yes to #1) Start looking for your new home right away. If you answered yes to #2) Start looking after you have a firm offer on your house and give yourself ample time to close on your new home within the counter offer to your buyers...#3) Have you listed it yet? If you answered no to #3) Call me right away *)
Which Should I Do First - List My Home or Find My New Home?
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- 0.0/5.0
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