It can be a balancing act. You know you want to move to a different home – whether you're upsizing, downsizing or you want to be closer to amenities, parks, views, the ocean or to your extended family. But you also want to make sure that you can sell your present home in a timely manner.
Some prefer to know where they are going to live first
"Some home buyers prefer to work with a Royal Pacific REALTOR® to locate their new home, and then make their offer subject to the sale of their present home," says General Manager, Andrew Peck. "It offers the buyer the security of knowing when they list their home that they have someone else to live."
But in this hectic market, Peck cautions that sellers may choose to accept an offer without a subject-to-sale.
You may need bridge financing
If the home buyer removes the subject and buys their new home, they may not sell their present home in time for the closing. If they don't have the funds to support two mortgages temporarily, they may have to get bridge financing.
Talk to an expert first
If you are thinking about moving, plan ahead. "Talk to one of our experts," says Peck, and we'll help you decided whether you should buy or sell first and then we'll help you with a targeted, organized approach.
This will include conducting a market value assessment so that you know what your home is worth and facilitating meetings with mortgage experts so that we can determine the amount that you can afford.
We'll quickly zero in on what is on the market that meets all of your criteria and at the same time we can help you prepare your home for sale.
Once we find a buyer for your home, we can see if we can extend the closing date so we have plenty of time to find your new home.
Contact us, we'd love to hear from you!
For more information on this article or how we can help you with your real estate needs, contact your RA Realty Alliance REALTOR® Stan Shawn at 604-306-4911.
(source: RA Realty Alliance)