Friday, January 15, 2021 / by John Salkowski
Here’s why you should sell your home before buying a new one.
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If you’re looking to sell your home and buy a new one, in which order should you do it? My advice: Sell before you buy.
One key reason I say that is that we’re in a competitive market. Listing inventory is way down and buyer demand is sky-high, meaning sellers usually see multiple offers on their homes. Put yourself in the seller’s shoes: When a seller is presented with multiple options, they’ll likely accept the offer with the fewest contingencies to reduce the risk of their sale falling through due to extraneous factors.
"Make sure the buyer is flexible with your closing date so that you can avoid having to temporarily rent a place between homes."
In preparation to go live on the market, get a pre-sale home inspection. That should include things like radon and termite inspections. If you have private water and sewer, you should also have them inspected.
Once that is complete, you can go live on the market. When you get an offer, negotiate it to the point where you’re sure that the buyer’s deal is solid before moving on. Make sure the buyer is flexible with your closing date so that you can avoid having to temporarily rent a place between homes.
If you have any questions about listing or purchasing a property, reach out to us. We’re always here for you.