Is It Possible to Simultaneously Sell Your Home and Buy Another?

Buying a house is an enormous undertaking,and so is selling your existing home. What happens when you find yourself needing to do both at once? Believe it or, it is possible to simultaneously sell your home, buy another, and keep your sanity in the process. Here is what you need to know!

First, Study Your Local Market

The 2017 housing market is expected to continue to become stronger, but it’s still important to investigate your own local market before deciding it’s time to sell your home and buy another. It could be that your market is specifically geared toward buyers or sellers for the time being, and that knowledge will help you strategize.

Make a Schedule

Though you can’t guarantee that life will move at the pace you want, you should still make a schedule. Will you buy first, and then try to sell? Sell first and trust that you can buy quickly? Each plan has its own benefits and drawbacks. Though buying first makes moving far easier, it also makes it more difficult to qualify for another mortgage. Selling first eliminates the issue of obtaining a mortgage, but puts you in the position of finding a temporary place to live between selling and buying. It’s critical to consider your finances as you make this decision. If affording a second mortgage, even for a few months, is unrealistic, then sell your existing home first.

Accept the Intrusion of External Circumstances

There are so many variables in play when you buy then sell, or sell then buy, that you have to prepare yourself to accept the hassle of unexpected problems and situations. A closing might be delayed, a title search might discover some unsavory information, or a buyer might back out. Whatever the problem, it is helpful to have a company like Benefit Title Services, LLC in your corner. Benefit Title Services aims to provide stress-free real estate closings to residents of the Tampa, Florida area. Call them today at (813) 251-1420 to learn more about how they can help you juggle the stresses of buying and selling simultaneously.