Tips for Buying & Selling at the Same Time

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Juggling between buying and selling a home can get tricky at times. If you need the funds from your home sale to purchase your next house, the timing of your home sale can be critical to meeting deadlines. Here are some creative ways to get to your final destination unscathed.

Rent your home.

In a hot real estate market – you might sell your home quickly. This might not seem like an issue until you realize you aren’t ready to uproot your family on closing day. If you need a little bit more time, consider asking the buyer if you can rent your home for a certain length of time until your new home closes. This will allow you to avoid moving twice!

Store what you don’t need in a portable box.

If you sell quickly, you could consider storing the things you won’t need during this transitional time in a portable storage box. You can have a portable storage box dropped off at your home so you can pack it up, have it picked up and then schedule delivery when your home closes. This will allow you to only load and unload one time when your home is ready.

Get creative with your mortgage options.

Although not an ideal situation, sometimes you don’t have a choice and must purchase a home before your home sells. If this is the case, talk to a mortgage consultant about your options. It’s important that you check to see if you can qualify for a second mortgage based on your financial situation. If the traditional application process doesn’t work – you can always ask about tapping into your home equity or looking into bridge loans.

And, as always — if you’re ready to purchase a new home – please give us a call at 800-531-3837 and talk to one of our SIRVA Mortgage associates about your options – we would be happy to help you!