Can I Sell my house and buy a new one at the same time ?

When you're trying to sell your house and buy your next home at the same time, things might get tricky. The dreaded property chain may create havoc and catch you off guard at the last minute. Many people prefer to sell their existing home first. This helps you to have the selling cash in hand when searching for their dream home, considerably reducing financial stress.The process of purchasing and selling at the same time can be stressful, especially if you need the proceeds from the sale of your present house to contribute toward the purchase of your new one.

 


Get your property appraised by real estate professionals


Before you begin to make interest in purchasing and sell a property at the same time, you must first determine the value of your present home. Begin by using our free instant appraisal tool online. Real estate agents will use their local knowledge and experience for any distinctive characteristics or home renovations that add value to the property in order to provide you with the most accurate price. Some agents are notorious for overvaluing their services in order to win your business. However, With our local market analysis and research, we provide the best value for your home that could achieve when it is put on the market but not give you high hope to achieve the business. 

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Determine your financial situation


You should be able to have concurrent closings, selling your property in the morning and closing on your next home in the afternoon – or within a few days. But what if things don't go as planned? You could find yourself unexpectedly lacking the finances needed to close on your new property, or you might end yourself paying two mortgages for a lengthy period of time. Worst-case scenario, you may be unable to obtain final mortgage approval and hence lose your next house.

However, if your new home is more expensive than your existing home, the deposit required will most certainly be greater than the deposit you get. If this is the case, your lawyers may be able to reach an agreement with your seller's solicitor that the lower deposit will enough. However, if this is not achievable, you will need to acquire more funds. Before you begin the procedure, be sure you're financially capable of doing so.

Negotiate the timeframe as well as the money.

Of course, you want to receive the greatest price for your property and avoid overpaying for the next one. When negotiating both transactions, keep the timeline of the closing procedure in mind. The idea is to persuade both the buyer and seller of your present house to agree to neighboring closings or any required conditions.

Ready to Buy or Sell Your Property?

At Empower Estate agents, We provide a great experience, outstanding marketing & the best negotiations tactics to help our clients to achieve their property goals. One of our best real estate agents Sana Ullah, is a well-experienced, trusted, and reputed real estate agent in Sydney's Southwest with his excellent marketing skills.

real estate agent in Campbelltown

We believe, Buying or Selling a property is one of the biggest financial decisions of your life. That’s why finding a real estate agent with the experience to guide you through the process is key. Our extensive real estate market research and strategies will help you to sell your property at the highest value.

Request A FREE Market Appraisal

 

If you are thinking to sell your property with a professional real estate agent who can bring top results, first get your Free market appraisals from here and we will let you know soon the updated value of your home in the local real estate market.

 

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Disclaimers

 

Data provided in this article is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.