I’m explaining the three ways you can buy and sell a home simultaneously.
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If you need to buy and sell a home at the same time, there are three ways to do it:
The first way is to put your house on the market, secure a buyer, then find a new property you want to buy. This is the typical way people buy and sell simultaneously. However, you may be asking how you’ll guarantee yourself a home to move into once you sell your current house. Well, when your home goes into escrow, we will add that this contract is contingent upon you finding another house to buy. If you don’t end up finding a property you love, your buyer can either wait longer, or they can back out of the deal and you’ll find another buyer.
The most competitive way to buy and sell a home is to sell first, then look for a new house afterward.
The second way to buy and sell at the same time is to find a home you love and want to buy first. You’ll write an offer, and if the seller accepts, they’ll give you a certain time frame in which to sell your current house. Then you’ll put your current property on the market and secure a buyer for it. You’ll end up closing on the same day, then we give a variance for possession so you have time to move out.
The third way to buy and sell a home is to put your house on the market and sell it, then do a rent-back for 30 to 90 days, or find temporary housing. (A rent-back means you’ll live in the home a little longer, though you no longer own it.) This is one of the most competitive ways to buy and sell because you’ll have cash in hand when making an offer, rather than a seller having to worry about you finding a buyer for your current house.
If you have further questions about buying and selling simultaneously or concerning real estate in general, feel free to give us a call or send an email. We would be happy to help you.
Let BLG be your trusted agent and advisor for buying, selling or investing in Conejo Valley real estate.