Buying & Selling Simultaneously

By MSW -

Buying a home can be intimidating, and the idea of doing both simultaneously can be daunting. You may be wondering how exactly you might plan to buy a home at Lake of the Ozarks and sell your current home simultaneously. Your favorite real estate agents at Lake of the Ozarks have some advice and strategies to help you get through the process!'

What Do Your Finances Look Like?

There is no clear black and white answer because everyone's situations vary depending on how their finances look. If you have disposable funds for the down payment, then you won't have as much of an issue between selling your home and buying another one. Whereas if you need the cash from selling your home for the down payment. So what's best, buying a home first or selling your home first? Consider these scenarios below.

Selling First

Low Housing Inventory

If you find that the current housing inventory is low, it may be best to sell your home first and temporarily rent until your home sells. Sure, this is not the most convenient option, but you don't want to rush into buying a home that is not exactly what you want. Plus, once you sell your home and you have cash in hand for your down payment, as soon as you find your dream property making an offer is easy.

You can always put in a contingency offer subject to the sale of your current home, but in a market that has low inventory, you are at an extreme disadvantage because the sellers may have other buyers making an offer with no contingencies.

You Are Relocating Due to a New Job

If you are moving to a new city for a new job, selling first is typically your best option. After you move, the best case scenario is that your home is already sold and you don't have to come back for closing or any other issues. Often, if you are moving to a new town you are unfamiliar with, renting for a few months to assess school districts, neighborhoods, and the housing market. After all, buying a home is a big purchase and you don't want to rush your decisions.

Buying First

High Housing Inventory

On the flip side, if you find that the housing market has a high inventory, buying first can put you in a good position, even if you have to make an offer with a contingency subject to the sale of your home. You may find that your offer is accepted but that is solely the seller's decision to accept or decline your offer. If you are not financially capable of juggling two mortgages, then buying first might not be the best option.

You Have the Funds Available For a Down Payment

Of course, the cleanest and easiest way to make buying a home and selling your current home at the same time is if you have the cash in hand for your down payment without relying on the money from the sale of your home. If you have the funds available there are numerous advantages to buying first. If you buy first then you only have to move one time. Plus, if you can move all of your belongings into your new home and stage the home you are selling properly, you increase your chance to get top dollar out of your home.


When it comes down to it, everyone's situation is different and trying to purchase a new home and sell your home simultaneously will look different for everyone. That's why it's so important to have a team of real estate experts by your side. Having an experienced agent by your side to help negotiate and make your real estate transactions go as smooth as possible is a huge advantage. The Fran Campbell Team specializes in both buying and selling homes at Lake of the Ozarks. Give us a call for a FREE market analysis and let's talk about the right strategy to get your home SOLD and find the perfect home for your family!

Contact the Fran Campbell Team to get your home SOLD!

Location: Lake of the Ozarks, Missouri, USA

Comments

Post a Comment

Popular posts from this blog

Declutter Your Home Like a Pro!

By MSW -
Image
Once you decide that it's time to  sell your home at the Lake of the Ozarks , one of the first things you will need to do is get your home ready to show to your potential buyers. You won't want to wait until after you put your home on the market to start cleaning and getting your home organized because you could have showings right away. Clutter and an unorganized house will put off your buyers because it's hard to focus on the unique features of your home when you have clutter everywhere. Not sure where to start on decluttering your home? Read on for some expert tips from the  Fran Campbell Team ! Set Goals The thought of decluttering your home can be overwhelming. Where do you even start? Making a plan and setting goals will help you stay focused and be efficient in decluttering your home. Start with a list or map of all the rooms and specific areas that need tackling. Then prioritize them by which area needs the most work. Set goals for when you want each area completed
Read more

5 Kitchen Upgrades that'll Improve Your Home's Value & Marketability!

By MSW -
Image
Are you thinking about  selling your Lake of the Ozarks home  in the near future? If you are, have you thought about making a few updates before you list? Sometimes the difference between selling your home quickly and not is making a few updates to appeal to your modern buyer. A great room to start in is your kitchen! The kitchen is generally one of the most criticized rooms and today, our team of  real estate agents at the Lake of the Ozarks  have a few suggestions for things to consider updating in your kitchen that could increase the value and draw in more potential buyers. 1. Backsplash A tile backsplash is all the rage right now. "Backsplash" refers to tiling the area of the wall above the countertop and below the cabinets above it. Modern kitchens use the backsplash to bring out certain colors in the decor scheme and accent surrounding features. Feel free to make your backsplash the color of your counters, your cabinets, your walls, your floors, or a unique collage mixi
Read more

Fran Campbell Team Attends RE/MAX Mid-States Success Celebration!

By -
Image
Fran Campbell Johnson, RE/MAX Lake of the Ozarks, was honored at the RE/MAX Mid-States Success Celebration in Kansas City on February 26, 2009, with the Platinum Club Award for 2008. The award honors successful agents who have earned at least $250,000 in commissions in the past year. In 2008, only 4% of the RE/MAX network achieved this prestigious award. The RE/MAX Mid-States Region is comprised of Arkansas, Kansas, Western Missouri, and Oklahoma and currently has 1,964 active realtors. On March 5, 2008, at the RE/MAX International Convention held in Las Vegas, NV, Fran was also honored with the “RE/MAX Hall of Fame Award” during the “Night of the Stars” Awards Ceremony. The “Hall of Fame Award”, which honors successful agents who have earned more than $1 million in commissions during their careers with the company. Fran Campbell Johnson has been working in the real estate industry for more than 20 years and joined RE/MAX Lake of the Ozarks in May of 2004. Winning these awards are a tr
Read more