- You know exactly what you have from proceeds of the sale of your home.
- Fewer unknowns regarding the sale i.e. Price, closing date and chattels included
- Less pressure and anxiety during the selling process
- Closing date is usually around 60 days. If home is a starter home or the buyer is renting, a longer and/or more flexible closing date can be negotiated with the buyer.
Downside of Selling First
Many vendors will buy what is currently available that matches their closing date. There is a higher risk of buying the wrong home . . . back in the buying and selling dilemma again in a few short years.
Lots of Stress and anxiety because of the following unknowns:
- they have not found a home to move to
- are prices going up?
- are mortgage rates going up?
- feel pressure to buy
- Better buying decision will be made
- Happier with the home you bought
- Stay longer in your home
- Fewer disruptions to you and your family especially children
- No pressure when buying!
- Negotiate a better deal!
Note: With a closing date of at least 90 days and preferably 120 days there will be less pressure on you.
Downside of Buying First
- You may experience a lot of stress and anxiety while selling your home!
- May have higher costs carrying the expenses of 2 homes for 1-3 months accepting less money on the sale of your house or a combination of both.
- May involve a double move to facilitate a sale or if a new home purchase is delayed.
Your decision should be based on the following!
- How you handle risk and worry!
- Equity in your home!
- Saleability of your home . . . is it unique
- Income/cash flow
- Total cost of entire move
- Time frames you have to meet
- Uniqueness of home you want to purchase!
- Are you considering a new home!
- Disruption to your family
- Ability to arrange bridge financing
For A Free Move Evaluation
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