Mar 27, 2013
It’s a conundrum that every home owner will have to face at some point: Should I sell first or buy first when it comes time to move?
After all, if you buy first and then sell second, you may have to pay two mortgages for a while if your home for sale languishes on the market.
But if you sell first and buy second, you may not have a home for a period of time while you search for your dream home.
Today, I’m going to provide you with my expert opinion on why I think it’s better to sell first and buy second.
Wake County Home Buying and Selling
Here are some of the benefits to selling first and then buying second:
- You’ll have more room to negotiate. After all, if you’re selling first, you have the benefit of time because you have no where in particular to go. That means you won’t feel pressure to take the first offer that comes your way.
- You’re likely to get a higher sales price. Consequently, if you’re not feeling any pressure to sell quickly, you’ll likely hold out for the sales price that your home truly deserves. After all, the whole “seller motivated, just bought another home” signals to home buyers that a home seller is desperate and will likely take a lower offer.
- Contingencies are your friend. If you have a contingency in your purchase contract that says you’re under no obligation to sell your property to the buyer in the event you can’t find a home for yourself after a set period of time, the whole experience is going to be even more stress free for you!
- You can always rent month-to-month. It may be more expensive than getting a 1-year lease for an apartment complex but it’s a nice solution to having housing between the time you sell your home and the time you close on your next home.
- Or you could rent back your old house. This will work if the buyer doesn’t have an immediate need to occupy the home themselves. Consider asking – it never hurts!
And of course, working with an experienced Wake County REALTOR like us at the Rachel Kendall Team will help as well because we’ll do everything in our power to make sure the transition between your current home and new home is as seamless as possible!
List Your Wake County Property With Us Today!
If you’re ready to list your property on the Wake County housing market, please contact us at the Rachel Kendall Team!
We’ve helped scores of home owners to successfully sell their properties in the following markets:
And we’ll be happy to help you as well!
For now, be sure to check out some of our online home-selling resources, such as:
Until next time,