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Now that you have decided to sell your home you must decide how to time the purchase of your next home. Should you BUY first then SELL? SELL first then BUY? Or BUY and SELL at the same time?
BUY FIRST
If you find your next house first and then purchase it, you know you have somewhere to live, you don't have to worry about being forced to find a house after you sell your house. On the downside, although you will end up with two houses, you will very possibly also have two mortgage payments.
Note: To avoid doubling on the mortgage's you could make your purchase contingent on the sale of your existing home. Keep in mind that sells don't usually like offers with contingencies. See your Hawkins Group representative for details.
SELL FIRST
This puts you in a strong bargaining position. First you don't have to include a contingency for selling your home. Second, you know how much money you've made (or lost) from the sale of your first home. The danger is that you may end up with nowhere to live. If the buyers of your home want to move in immediately you may have to move in with relatives or rent an apartment.
BUY AND SELL SIMULTANEOUSLY
Buying and Selling simultaneously simply means closing on both properties back to back. You can either transfer title on you old property first and then obtain title on your new property or vice versa. Your Hawkins Group Realtor will guide you through this delicate process.
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