Should I Sell my Current Home First, or After I Have purchased my Next Home?

Ah, the real estate “chicken or the egg” question.  The answer depends upon your personal circumstances.  

If you have the financial resources available to make your purchase first, that might be viable for you.  You wouldn’t have to wonder where you are moving to and can proceed with the sale of your present home with that confidence.

For many people, selling their present home and then, finding their next home, is the likely process.  That may sound a bit disquieting, for some people.  After all, if you sell your present home before you identify your next home can be a stressful process.

There are a few different ways of approaching this process.  One way is to place your home on the market and, when you receive an offer you wish to accept, you can make that purchase contract contingent upon you finding the home of your choice.  There are several additional details that are associated with such a contingency, yet, an experienced real estate professional can successfully assist you in structuring that properly.

One of the benefits of selling your present home first before making an offer on your next home is, you know precisely how much money you will realize from the sale of your home and, therefore, how much money is available to invest in your next home.  This model strengthens your negotiating position with the seller since your home is under a purchase contract.

This is a complex consideration.  I’ve helped hundreds of people in this circumstance, and I understand how concerning this can be.  Feel welcome to click the “Contact Me” button if I can help sort this out in your mind.