Selling your Home before you’ve closed on the New Home.
You just sold your house, which is great, but are you ready for the next part? Especially, if you are currently living in said home. Unless you are in your early 20’s with few belongings and have an easygoing attitude, things could get dicey.
Not to worry, plenty people do it, most because they need the money from the sale to close the new home. Be aware though, this could be a large risk and possible a colossal mistake. Why, because of two things money and availability.
Money we mentioned, you need the check to move on, but things can drag or fall apart quickly, which leaves you with a check for a down payment on nothing. Searching for another house that can possible close in the window you have available to move out in. And this kind of searching is not idea, pickings aren’t always good and you might be forced to buy a good enough property when you want a dream home.
Availability is the other side of the same coin. Is your next property ready to move in to? Do you have to wait for the owner to figure out their own situation which dominos into your schedule, which you then pass onto your buyer? What if you have to hold true to your move-out date, but have no option to move-in? Having a house to buy, but nowhere to move to is a horrible paradox that all should avoid.
Move out before you sell
Along the same lines as the above point. Having your situation settled makes it easier to field offers and chase properties. It will also make selling your home much easier. People enjoy picturing their family, furniture and memories to come in open spaces. Why have them work around your interior design choices or look at photos of the ghosts they’ll need to overwrite in their new home.
On another note, moving out too early ad living out of a rental property might sound smart, but if you can’t sell your home in a timely manner, be prepared for the repercussions of signing leases and extensions you didn’t want to be part of.
Pricing Your Home
Yes, markets are moving fast, but putting too high a price tag could get buyers and agents to pass you by without an offer. And when a home has been on the market too long, everyone starts to think that there’s something wrong with the property. Perspective like that can stay with the listing, even after lowing the price.
Small changes can mean big bucks coming selling time, adversely, the wrong changes could cost you big. The quirks and issues you live with in your house, might just be deal breakers for prospective buyers. Investing thousands now could mean tens-of-thousands come closing time. Remodel and renew when it makes sense.
Along the line of home improvements, as you prepare the house for sale, make sure it looks sales ready or you’re going to end up selling underling the category of “As Is”. Do not install or fix things yourself if you can’t make it look professional. Sloppy wood floors or uneven paint jobs will only hurt you as prospective buyers walk through the property.