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Important things you should consider if you want to buy a new house and to sell an old one at the same time
Tips to Sell and Buy a House at the Same Time
Relocation is always connected with fuss. There are too many things to do. Yet, the situation may become critical if you have to sell your old house and to buy a new one at the same time. It’s not an easy task and is a real challenge even to the experienced real estate agents. However, it’s not a reason to give up. You are not the first person who has decided on such a risky adventure. There are some tips to help you to cope with the possible difficulties.
- You need professional help.
Moving is always stressful. The endless packing and extra complicated logistics are able to make you go crazy. At the same time, you have to search for a new dwelling and prepare the necessary documents. You shouldn’t forget about your children who have to change school. The documentation is also a part of your responsibilities. The best thing you can do is to delegate some tasks to specialists.
For instance, you can hire professional movers. The experts will do the hardest work for you. The movers can deal with packing, loading, uploading, transporting, and even rearranging your belongings.
It’s also possible to hire a professional real estate agent. He or she will pick up the best variants of your future dwelling. Yet, nowadays it’s possible to search for anything you need with the help of the Internet. Moreover, it’s a must to visit and evaluate the dwelling you choose.
Although hiring professionals is a good way to get rid of a greater part of problems, it has one significant disadvantage. It may cost you a whole fortune. When you are to find a place to leave in, it’s better to save money.
- Consider all the possible variants
The first thing to do is to make a plan of action. You have three possible ways out:
- You sell your house and then buy a new one;
- You buy a new dwelling and then sell the old one;
- You sell and buy the dwelling at the same time.
The third variant is an ideal one, yet, you have to understand that it’s almost impossible. In terms of reliability, the first variant is one of the most effective and appropriate. The main problem you may face is dual mortgages.
When considering the first variant, the main thing to worry about is where to store your belongings and stay during the relocation period. The moving companies offer you affordable storage services. Moreover, you can ask friends and relatives for help.
- Investigate the real estate market.
It’s clear the situations differ. Sometimes you have to do nothing but relocate. Yet, if you have a chance to choose, you should consider hot markets offers.
- Protect yourself
Contract contingency is a useful point to include in your purchase and sale agreement. It protects you from the necessity to pay on two mortgages.
To conclude, it should be noticed that it’s quite difficult to buy and sell a house at the same time. You should be ready both emotionally and physically.