Buying your next home can be challenging if you’re financially required to sell your existing home first. Here’s how we’ve helped our clients in this situation find success.
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When you’re selling your home and coordinating your future purchase at the same time, there are two main scenarios you will run into.
The first is when you as the seller are financially able to purchase the second home without selling your current home. Only about 25% to 30% of typical sellers are able to do this, though. The second and more common scenario—and the one I want to focus on—is when you have to sell your current house to be able to purchase your next home.
Since Cleveland is in a seller’s market, it’s important to remember that the challenge isn’t selling your house, it’s finding the next one. It’s somewhat easy to get an offer on a home, but since demand is high and supply is low, it’s challenging for sellers to find a good home.
Selling your home isn’t the hard part, buying the next one is.
That’s why we take a methodical approach to evaluating the home you’re selling with a market evaluation and estimated sale price range. We make staging recommendations and then essentially create the listing and save it as ‘incomplete’ in the MLS. At that point, we’re 100% ready to go.
Next, we take you around and show you existing homes. Once you find one, we activate your listing and work to get a quick offer so we can write the offer on your next home that’s contingent only on the title transfer of your existing home. It’s an approach that has worked well for us and we use it for the vast majority of our sellers.
If you’d like to learn more about this buying and selling system or you have any questions about our market, give us a call or send us an email. We’re here to help.