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Juggling Act

7/24/2013



Unless you're a first-time homebuyer, moving likely means selling your current home at the same time as you purchase your next. To make this juggling act more fluid, consider the following advice.


        If you have the luxury of choosing what time of year to move, choose spring. There are more buyers out looking for properties at this time of year than any other. And, as a buyer yourself, spring offers the greatest selection of available properties from which to choose, increasing your chances of a simultaneous sale and purchase.


        Be a motivated seller. Doing this includes: pricing your home realistically to have the best chance of selling quickly, having a home inspection performed and making repairs as needed, making sure your home shows well, considering the use of a home stager, making your property easily available for showings, and being open to lower offers if they are unconditional or allow for a long or flexible closing.


        Be a motivated buyer. Figure out how much you can afford to spend on your next home and find out what's available in your price range: don't waste valuable time looking at unaffordable properties. Get pre-approved for a mortgage. Line up a home inspector and any other professionals whose services you may require once you're ready to make an offer.


        Negotiate for a smooth transition. This could mean, for example, negotiating a long close with the seller of your future home, giving you time enough to sell your current property; or negotiating a rent-back provision with your current home's buyer, whereby you rent your recently sold home until such time as you can move into your new one.

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