Feb
14

What is the best way to sell a house fast in order to purchase a new home?

Question: What is the best way to sell a house fast in order to purchase a new home?
Sell first house – Purchase a new house

Answer:

if you sell your home first you may need to find temporary housing until you close on the new home.  Most people try to coordinate the sale of their current home with the purchase of their new home. That may be easy or hard depending on where your home is located and obviously it’s appeal. 

Find a great Real Estate Agent (like me) that can help you identify what needs to be done to make your home marketable/desirable and price your home sell without giving it away.

Give your answer to this question below!

About Kristofer Nance

Kristofer Nance, Real Estate Broker with Nance & Associates, Realtors in Fredericksburg VA
Owner/Agent of Nance & Associates, Insurance.

Comments

  1. Spangladesh says:

    Uhhh….sell it. Seriously what else would you do with it?

  2. rent to own as long as their credit is good their mtg. from u wil pay ur new mtg on ur new home u may have to take out a new mtg but with the right lawyer it could work (oops with the right family)

  3. I would sell the first house to be sure you’re all through with that and you know exactly how much you have to work with and don’t get in over your head with the second house. Arrange for a place to stay while you are looking for your second house. You can do both at the same time but don’t finalize anything with the second house until you have the money to move, which for most people means selling the first house first. Right now it’s a buyer’s market, so it will probably take longer to sell the first house than to buy the second house. So most likely you will need to find a reasonable rental or a friend or family member to rent a room from while you are in transition. Good luck.

  4. Offer your first house for sale with the contingency that you be able to find acceptable housing.

    Don’t wait around. My office had a couple put their house on the market, and they hadn’t house shopping, thinking it was a lousy market and they had time. They received a very nice offer within a few days of the house going on the market, putting them in panic mode to find a new house.

    You can put in offers on new houses with a contingency that your house sells, but many buyers don’t want to accept that.

  5. 343 Remember says:

    Sell your house contingent on the successful closing of your new house.

    I wish you well!

  6. The best way to get rid of a house in order to purchase a new home is to sell the present home for and at a substantially lower price than the other homes of similar style, size and price are being offered for sale in that same geographic area.

    FOR EXAMPLE: In the area where your home is located, other homes [for the sake of this example, I’ll say “twins” or “duplexes” or “1/2 doubles” — the same style house BUT in different areas, these homes are known by different names] — are currently on the market for $ 200,000. Other “twins” sold and settle for $ 190,000.

    Due to the fact you “put the cart before the horse” by looking at other homes and making an offer on one of those other homes before your present home was sold, you want to sell your home very quickly. You call a very reputable agent and he/she informs you how much the other twins in your area are on the market for – REPEAT: how much the other twins in your area are on the market for NOT how much they sold for.

    YOU KNOW “your back is against the wall”. You inform the agent of your situation. He/She listens, then asks: M—–, you want to sell your house very fast, don‘t you?. How much do you want to sell it for? You and your significant other discussed this and decided $ 175,000 would be the price. ((((WOW! That’s about 8% less than the other homes))) The agent lists it for $ 175K. It sells in less than one[1] week to a QUALIFIED, READY, WILLING AND ABLE BUYER! You are “out from under“ the crushing financial burden of two mortgages..

    OR come on – let’s do it the way 95%+ of the current homeowners do it: EXAMPLE #2: The agent informs you other twins are currently on the market for $ 200,000. BUT you and your significant other decide, OOOOOOhhhhhhhhh NNNOOOOOOOOOoooo that’s too low! We KNOW we can get $ 215,000. AND your house sits and sits and sits some more.
    Agents bring Buyer after Buyer after Buyer. Your house sits 3, 4, 5 months. Do you see the mess you got yourself into by putting the cart before the horse?

    Please save your sanity AND your bank accounts, and equity in your present home. Don’t get caught in that trap.

    Sell your present home first – with a long-enough time interval AFTER the Buyer’s mortgage commitment is issued for you to go out and find the home for your needs. MY suggestion: from the day the Agreement of Sale is signed by ALL parties – Buyer and Seller – until the mortgage commitment is issued for the Buyer, 2 to 3 months. Once the mortgage commitment is issued for the Buyer: AN additional 3 months for you to meet your lender’s and your Sellers’ requirements. When all contingencies are met, you can always settle/close/go to escrow at an earlier date.

    Renting out your present home in order to buy your second home is ANOTHER issue. AN ENTIRELY, MESSY, YET DIFFERENT ISSUE.

    To be very honest, short AND to the point:
    UNLESS YOU KNOW WHAT TO DO AND HOW TO PROPERLY DO IT, DON“T RENT YOUR FIRST HOME TO ANYONE. PLEASE CALL A REPUTABLE AGENT – one who knows how to properly rent properties.

    REPEAT: UNLESS YOU KNOW WHAT TO DO AND HOW TO PROPERLY DO IT, DON“T RENT YOUR FIRST HOME TO ANYONE. PLEASE CALL A REPUTABLE AGENT – one who knows how to properly rent properties.

    REPEAT: UNLESS YOU KNOW WHAT TO DO AND HOW TO PROPERLY DO IT, DON“T RENT YOUR FIRST HOME TO ANYONE. PLEASE CALL A REPUTABLE AGENT – one who knows how to properly rent properties. :

    Thank you for asking your question. I enjoyed taking the time to answer your question. You did a great job – not only for your information, but for every other person interested in reading my answer.

    I wish you well!

    VTY,
    Ron B.

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