Here’s a quick example of how you can buy and sell in this market.
If you need to buy and sell in this crazy spring market, you still can, and today I’ll tell you how.
When it comes to selling your home, a lot depends on what you want to do. If you’re moving out of state, that’s a completely different conversation. If you’re staying in the same area, you can apply for a bridge loan—a topic I’ll discuss in depth on one of my upcoming Financial Friday sessions. If you don’t want to do a bridge loan, you can still buy and sell, and here’s an example of how:
Two recent clients of mine from the Elk Grove area decided they wanted to sell their current home and buy a larger one in the same area. Specifically, they told me they didn’t want to be homeless. A solution to this is to move twice: You can sell your home and find an apartment or rental home to rent for a few months while finding another home to purchase.
“You need an agent who’ll be able to walk you through the whole process.”
If you want to buy and sell simultaneously, you need to hire an agent who’s very dedicated to finding you a new home. After my two clients told me what they wanted to purchase next, we started looking for homes but nothing matched their criteria. Of course, there were multiple offers for everything. Eventually, I found a home off-market that was exactly what they wanted—larger home, single story, 3-car garage, pool, etc. Then we were able to negotiate terms with the seller and go under contract. Before closing on that home, we were able to sell their current home and negotiate a free rent-back so they can stay there until June 19 and move at their own pace.
Is this always possible? No, but you need an agent who’ll be able to walk you through the whole process and dedicate themselves to preventing you from being temporarily homeless or needing to move twice.
If you’d like to know more about this topic, have questions about bridge loans, or there’s anything else I can assist you with, don’t hesitate to reach out to me. I’d love to hear from you.