Do i need to sell first in order to buy?

Selling and buying a home at the same time can be a complicated task. Therefore, in most cases it is recommended to sell first and then buy. By doing so you will get the money from the sale and it will be easier to obtain a new mortgage and cover the expenses of the new home. Sometimes it is not possible to do it in that order and the other option is to do both transactions at the same time. For these cases, you and your real estate agent need to be clear about the following:

• Do you want to buy another property with the money you get from this sale?

In the event that you are living in the property

• How long do you want to deliver it once the sale is closed?

It is important to be completely honest with the real estate agent because the good outcome of the transaction depends on this. Depending on the situation, your real estate agent may suggest adding a contingency to the offer on the new property and specifying in the sales contract that the acquisition of the property will depend on the sale of your current property. If you have any questions or would like more information, contact me so I can help you.