Mooers Realty Maine Real Estate Blog
Buying A Home Before Selling Your Last House.
In life timing is not always the best, like when you own a home that shrunk from family expansion.
And you want, need to sell a house before buying another castle. With more room to roam. Extra bedrooms, baths, a rec room. For all those place settings around the kitchen table to have enough space to grow up in comfort.
How to get from one home to the other with some breathing room.
To give adequate time to allow for the sale of the old one is a housing transfer option flip flop.
But what if no extra money in the dig deep in the kitty at the end of the month to pay the bills you already have? For the 2nd home mortgage payment added stress.
But not for everyone is over extened financially. The timing to buy is right except already own a home outright or with a mortgage or two.
And is quickly given the nod of lending approval. From a bunch of banks that would jump at the chance. Would float a new home loan slam bam while you carry the old mortgage payments too.
But sleeping nights home selling one, buying one.
Can you? Or is 3 AM a wake up call you can not stop getting inside your head. Tossing, turning, making trips from the bedroom to the bathroom.
You worry about the length of time for the old home to sell. And just want to wait. Should you is the million dollar question? Even if the banker says come on, relax, sign here and here.
So selling a home, your old one before buying the new house. Is that the mission? Well if you are worried about loosing out on the new one of your dreams. And at the same time being mid stream in the sale of the old one.
How do you keep what you have but get it marketed to sell in time ?
So you won't miss the house boat.
Be too late to the real estate closing on the new one causing all the heart throb. From the eye candy like this 1903 Victorian we just sold for cash. The kind that you think you gotta have it because it's "the one".
You are not just loving it but in love with the sticks and bricks. Cause you know you would look good in these four walls, roof, floor. And with all those fireplaces roaming the heart.
That lub dub fits oh oh so well at this stage, real estate need for housing in your life.
Make a contingency that your home is for sale IF this home, or another comes on the market that makes you follow through with a house sale.
Spell out your situation.
Have that needed loop hole if the new home seller says no dice. To giving you plenty of time, first option. Or any time at all to pull off the sell one, buy one two step.
Like a chess piece, don't take you hand off the little horse, queen, pawn, etc. You don't want to end up with no old home, and the one of your dreams vanished too.
You'll be couch surfing, sleeping in your car if that happens.
Domino real estate house sales occurs when there is a train of them.
All linked and dependent on the one sale before it to happen so more can get to the long conference room. For the signing to get the keys please. And slide all those checks to the players that make it happen. If all goes well.
As according to the plan layed out by some real estate professional(s) guiding the process skillfully.
Who has been to lots of real estate rodeos just like this situation you find yourself in for the house to house jump. When wanting to sell your present home, buy the future one. Locally or far far away.
Some more tips?
The biggest one is if your old home is not selling, drop the price. The wrong price for the current market and lack of advertising, promotion are the two main reasons property, real estate listings do not sell.
Another biggie for the no sold sign rider being screwed on the silent salemen is there is no agent, broker. That's like going into surgery with no doctor. The court room with no Perry Mason.
And you have a full time job doing something else you are very skilled at.
Real estate pricing, marketing, avoiding legal hot water with contract misteps, well.
Not so much. You have a life, we help you lead it. We are REALTORS was an old TV ad campaign a few years back. But oh oh so true.
Whenever buying property, you have to consider what if you were in a position to need to sell it? That is what makes everyone see the bigger picture. Have better impulse control on the spending to get what you really need for the long term, not just want caught up in the moment.
Do the wrong updates to a property means money done the drain. Or too many days on the market trying to recoop the cost of what you did thinking it would help.
Ask the real estate agent, broker you trust first, BEFORE the updates if you smell a property sale of a house in the wind.
Here to help whether buying or selling Maine real estate. Eager to serve both and provide lots of valuable information. Resources for both buyers and seller of property listings in Maine.
How long will it take to sell a property so you can buy another depends on the flux of the market, the condion, staging, smell, supply of places like your competing with it and your price tag.
Don't get squeezed or your life put on hold. Connect the dots starts by seeing them clearly. Make the call. Let's talk first about the process and to set the correct bullet list of expectations you want and need but that are realistic. Real world. Email or text and visit our real estate office when you are ready.
MOOERS REALTY 69 North Street Houlton ME 04730