Here are four options to help sellers transition to their next home.
Many sellers are also potential buyers. After all, once they sell, they’ll need another home to live in. However, it’s currently a challenging market for those looking to purchase a home. Should sellers list their current home first or buy a new one beforehand? Today I’ll share four options available to you if you’re in this position:
1. Take on two mortgages. Check with your lender to see if you qualify to take on another mortgage. That would allow you to buy a new home without it being contingent on the sale of your current one. Once you close on your new home, you can sell the old one.
2. Attempt to buy a home contingent upon the sale of your current one. Right now, sellers are looking for clean offers and tend to avoid those with contingencies. However, this is an option that has worked before in some circumstances.
“It’s currently a challenging market for those looking to buy a home.”
3. Sell your current property first and stay somewhere else in-between homes. Once you sell, you could stay with friends or family or in a short-term rental until you find another home to purchase.
4. Use a non-contingent buyer program. This program also allows sellers to buy their next home without it being contingent on the sale of their current one. That way, you’ll know exactly where you’re going once you sell your old home.
If you or someone you know is currently looking to make a move and needs assistance, don’t hesitate to give me a call or send me an email. I’d love to hear from you.
