In an ideal scenario, the process of buying and selling a house would happen at the same time and without a hitch. However, this isn’t always the case in reality. But don’t worry, there are several strategies and tricks you can employ to iron out any kinks.
1. Leasebacks
This strategy allows you to sell your home and then rent it back from the new owner for a short period. It provides you with the opportunity to find and secure your dream home at your own pace, without the stress of rushing or moving twice.
2. Bridge Loans
Bridge loans – These loans serve as a temporary financial solution, bridging the gap between the sale of your current home and the purchase of a new one. They usually have two stages:
Stage 1:
You may be exempt from making monthly payments on your new home, however, interest will accumulate.
Stage 2:
Once your current home is sold, you use the proceeds to settle the bridge loan, including the accumulated interest.
Remember, a bridge loan can remove the need to sell your current home before purchasing a new one, giving you an upper hand in a competitive real estate market where properties are quickly snapped up.
Addtional Tips
If you’re looking to buy and sell simultaneously, here are some additional tips:
- Try your best to align your closing dates.
- Create a contingency plan for accommodation if the timing doesn’t line up perfectly. Consider the strategies mentioned earlier.
- Maintain regular communication with your real estate team. No question or concern should be left unaddressed.
- Avoid letting the details overwhelm you. Keep in mind that this situation is temporary, and before you know it, you’ll be comfortably settled in your new home.
Interested in learning more about simultaneous buying and selling? Get in touch with me to learn more about how I can help you through the process!
Estrella Gallegos, Realtor eXp Realty 720.641.2099
Mile High Living with Star 
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