How do you buy and sell a house at the same time? It is possible - and it can save you a lot of money!
How do you buy a home and sell one at the same time? It is possible!
In real estate, we call buying and selling at the same time a contingent transaction.
If you think about buying a home after selling your own property or do both at the same time, you should reach out to a real estate agent. On some cases, this can be done without you moving into temp housing before moving into your new home - and it often allows you to make more money, too!
1) Start moving forward with the house that is going to go on the market. This includes repairs, cleaning, stages - so it is ready to go as soon as you find the ideal home!
2) Get fully pre-approved so you can go ahead with making an offer for a new place as soon as you are ready! After your pre-approval you know how much you can afford and how much you will make with the sale of your own home. Combined, you can estimate your mortgage and your monthly payment.
3) Once you found the perfect home and are under contract, you have five business days to get your home on the market.
4) Contingent offers are not as attractive - there is a risk for the seller, as the offer on their home depends on the sale of your property. Once your contingent offer is accepted, you have 45 days to sell your home. Therefore, be sure to price your home accordingly!
Contingent offers are difficult, but an experienced agent can make the process easy for you.
One of our team members was a client before joining the Novak Team.
Lisa was going to sell her home in Mountlake Terrace and buy a place in Lake Stevens. She got her home ready to go, staged it beautifully, priced it to the point, but didn't quite get it on the market until she found her next home. When the house went on the market, we got 19 offers and it sold für 120,007 dollars more than expected. Lisa had two days more to move into her new home, she didn't have to worry about renting for a few days or moving twice.
Curious about how to make this happen? Contact us!
In real estate, we call buying and selling at the same time a contingent transaction.
Curious about how to make this happen check out our video and this article about contingent sales!
Our experienced real estate agents would love to support you when it comes to finding the perfect home in Snohomish county!
