Tag: Before

Should I sell my home before buying a new one?

this is jason simard with the sims realestate group your vancouver island real estate experts bringing you anothervaluable video so the question today is I own homeshould I sell it before buying another home and this is actually a reallycommon problem right now that a lot of people are having so we're working witha lot of out-of-town buyers who have homes with equity that they're planningon selling so that they can buy a home here the challenge is, they don't want to selltheir home until they've found a home but then again to find the home you mayneed to sell your home first so it puts you in an awkward position and so our team is of this mindsetnumber one if you can buy a home without having put your home on the market first great that could be an option for youbut you have to be willing to consider that maybe you'll have to carry ashort-term mortgage so you may need to consider some interim financing solutionwhich for some people may put them out of their comfort zone the ideal scenario though is you haveyour home sold or at least you have a home that is subject free and that saleis going to be happening and then you start looking because if you start looking before yourhome is for sale we might find the perfect property but the reality of itis is it's probably not going to sit on the market now there is the option youcan always put an offer subject to the sale of your home however in a challenging market like theone that we're in currently that often may not put you in the strongestbargaining position or in the strongest negotiation position however for the right property we may beable to make that work and we have made that work many times so what I'm trying to get at is this isa conversation you need to have with somebody that you trust a real estateexpert that can really help you understand what your options are andhelp you now navigate this crazy market that we're in right now so if you havequestions my team and I are here to answer thosequestions for you our contact information is below we'd be honored tohelp stay tuned in a couple weeks we'll haveanother valuable video for you.

Source: Youtube

How to Sell Your Home Before Buying

Hey we're just about to head over to Kyrsa and David's house and talk to them about selling their home before buying another one.

Or even having one identified to buy.

You know it takes a leap of faith.

Let's hear about their experiences.

It all worked out for them.

Hi my name is Dave and I'm Kyrsa.

Our old house was a 1900 vintage home.

Partially redone when we bought it.

And we introduced a number of changes.

Essentially it was time to move on.

We wanted to make some major changes and so we brought in some architects to get the idea of the scope and costs.

And through that process we realize that, to get the help that we wanted we would have to invest significant amount of money.

We preferred to just take the risk and try to sell and buy something that we actually wanted vs put all this money into a house and may not end up being the house we envision for ourselves.

Working with Randall we were able to negotiate a 90-day closing which was really helpful for us to take the stress off of buying a new home.

Finding a new home to buy.

And buying a house that we might have just felt the pressure to purchase, vs actually love the house itself.

Hey, if we sell our house, and if we have to rent for a year, so be it.

We'll have a year to find the right house and we won't make the wrong decision that would impact this for the long term.

Well after selling our home we were able to have cash on hand.

We had enough money to have a down payment and significant earnest money so that the purchase of our new home would not be contingent on the sale of our old home.

Given today's market, and after consulting with Randall, we really felt this was important for us to obtain the house of our dreams.

We would have been at a serious disadvantage if we were contingent on the sale of our house.

To then move quickly, to put in a competitive offer on the house that we really wanted.

So during our 90-closing period, we were able to comfortably go look for homes.

And during that period, we were able to identify a home that we absolutely fell in love with.

And also have the time to negotiate a deal, settle on closing terms, and also get inspected.

We have a home today that's absolutely wonderful! Wow, Kyrsa and David that was a great explanation of what it's like to sell before buying.

I'm planning on making a series of videos addressing some of these questions that people are asking me.

I hope you'll tune in.

Thanks so much for watching.

Source: Youtube