Tips for Selling and Buying a Home at the Same Time
Selling and buying at the same time. Is it as difficult as it sounds? How does one go about simultaneously selling and buying a home in Brookings, SD? What comes first? Should you sell your home and then rent while you look for another place to live? Should you buy now and juggle two mortgage payments until you sell your current house? Or is there a way to perfectly time the sale of one and the purchase of another? Luckily, the real estate experts at Brookings Home Team are here with tips for selling and buying a home at the same time.
Tip #1: Get a Mortgage Pre-Approval
Our real estate blog has shared advice for how to be a competitive buyer in today's housing market, and the very first tip was getting pre-approved for a mortgage. It saves time, indicates how much home you can afford, and helps you gain an edge on the competition once you find a home you wish to make an offer on. There are different types of home loans depending on your current financial situation. Understanding all of your options will help you make the best decision.
Tip #2: Prepare Your Current House for Sale
You've committed to selling your home in Brookings and moving on to something new. Congratulations! Now it's time to get your house ready for prospective homebuyers. Should you renovate before you sell? Do you know how to stage your home so buyers can see themselves living there? Not only can the specialists at Brookings Home Team help you answer these questions, but we can also provide you with a free evaluation to give you an idea of what your current house is worth.
Tip #3: Hire a REALTOR®
If you've decided to sell and buy a home at the same time, one of the most important things to take into consideration is hiring a Brookings REALTOR® like the professionals found at Brookings Home Team. Aspects such as list prices, negotiations, and accepting offers can be challenging, let alone having to navigate them simultaneously during a purchase and a sale. As members of the National Association of REALTORS (NAR), these accredited individuals have the ethics, resources, and certifications (not to mention the expertise!) to help you manage dual real estate transactions with confidence.
Tip #4: Find Your Next Home
You've been pre-approved for a mortgage. Now what? It's time to begin searching for your dream home! Your lender will discuss interest rates, terms and conditions, and other key factors to find the best home loan option for your current situation. A trusted real estate group such as the Brookings Home Team will take the time to listen to your needs, wants, and wishes in order to show you houses that are best for both your lifestyle and budget.
Because each homebuyer and seller is different, the Brookings Home Team will discuss whether you should sell your house first and then buy, or vice versa. Each real estate transaction is unique and we can help walk you through every one of your options. Selling and buying at the same time is much easier if you have an experienced team behind you. Get started today by calling 605-691-3023 or reach out via our online contact form.