Timing Your Home Sale And Purchase

Timing Your Home Sale And Purchase

Author: Nancy Niblett

It is always a dilemma whether to find the perfect home before you sell yours or after. Most people really do not want to make a double move, one in which they sell their home, move out and then find a home and move again. Timing this can be a tricky thing.

First and foremost if you cannot make a purchase financially before you sell your home then you absolutely need to get your home on the market first. This can be scary for many sellers because the worry that they will get their home sold and not have a home to move into. Some people are able to qualify for both homes and can actually find the home they want and purchase it while their home is still on the market. For most, this is not an optimal choice. In a buyers market this is especially true.

In most cases the smartest thing is to get their home on the market and start to narrow their home purchase search. Start looking at home and narrow your choices down. If you have picked a favorite with maybe a back up home as your second choice then as soon as you get an offer on your home you can put an offer in on one of your choices if the homes are still available.

Keep an eye on the availability of the homes you choose and continue your search for other homes that you like in case the home of your choice is no longer available.

Your continued search can be quite simple with the technology we have today. In most areas, your realtor can put you on a custom search that automatically sends you listings that match your criteria. You can narrow it by many different search criteria like number of bedrooms, baths, square feet, price, area, lot size and even down to type of roof. Then, once there are several homes that you would like to personally view, contact your agent for a viewing.

In some cases, if you find the absolute perfect home and you do not want to risk losing it, the seller may consider a contingency on the sale of your home if you submit a strong offer. What this means it they are accepting your offer contingent upon you selling your home and successfully closing so that you have the funds to close simultaneously. Most of the time, the seller will keep their home on the market and can entertain a new offer giving you first right of refusal to lift your contingency and purchase the home without successfully selling your home. This will then be your choice and you need to decide if you are willing to let the home go or to risk owning both homes for a period of time.

You may be willing to move forward at this point if you are getting a lot of traffic and it seems likely that you will soon get an offer on your home.

If you get an offer on your home and you started your search and have a home picked out you can easily coordinate the two to close in order to allow your move to go smoothly and without a delay in between moves.

Nancy Niblett is a highly successful Real Estate Agent specializing in the Chandler area. She credits her success to hard work, integrity and honesty. Clients continue to refer her over and over again. Nancy is one of the most successful award-winning agents and currently with West USA Revelation. She was awarded the top 50 Individual Agents by Phoenix Business Journal for the past several years.

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