A professional will check the systems of the home you are buying. Be prepared to negotiate repairs or credits.
You have two main paths. You can sell first (which puts cash in hand but may require temporary housing) or buy first (which is more convenient but may require a "bridge loan" if your capital is tied up in the first house). Phase 2: Preparing the Sale
Even if you’ve owned a home for years, lending standards change. A fresh pre-approval letter proves to sellers that you are a serious buyer who can perform once your current house sells. steps to buying and selling a home
The key to a successful "buy-sell" is a buffer. Always have a backup plan for storage or a short-term stay in case a closing is delayed by a few days. With a solid real estate agent and a responsive lender, you can navigate the complexity and move into your next chapter with confidence.
Before listing your current home or touring new ones, you need a clear financial picture. A professional will check the systems of the
Your lender will hire an appraiser to ensure the home is worth the loan amount. If the appraisal comes in low, you may need to bridge the gap with cash or renegotiate the price. Phase 5: The Double Closing
This is the most delicate stage. When you find a house you love, your offer will likely include a . This tells the seller: "I will buy your house, but only if my current house sells by a specific date." You can sell first (which puts cash in
Work with an agent to analyze "comps" (comparable homes recently sold in your area). Pricing competitively often generates multiple offers, which gives you more leverage regarding your closing date. Phase 3: The Search and the "Contingency"