#3CentThursday | EPISODE 3
FIRST 3 STEPS TO BUYING & SELLING AT THE SAME TIME
Ideally, you’d be able to afford to buy your next home before you have to sell the one you currently live in. But we all know that for most of us, that’s just not possible! That’s ok though! Here’s the three steps to take if you can’t do that, and you still want to move directly from your existing to new home.
STEP #1 – DETERMINE THE W’S OF YOUR MOVE!
First, answer the following questions so you have a general idea of what you’re working with as you move forward through the process.
1) Why am I moving?
2) Where is it that I want to go?
3) When do I want to be there?
This allows you—and us—to plan properly when it comes to a time frame and making sure that we can best help you reach your goal.
STEP #2 – CALL US TO GET YOUR HOME INTO ESCROW!
We don’t say this just to sell ourselves, but you do want to get your home into escrow next! The reason why we say this is to make your offer on a new home as strong as possible! And to do this, your home needs to ideally be in escrow, but at MINIMUM, at least on the market. Think of it this way, if your home is not even on the market—meaning you’re not even actively trying to sell it—and you put an offer in on a home, the Seller of that home probably won’t even consider your offer because they have no idea how long it’s going to take for you to list, sell, and close on your home. Instead, if you submit an offer that says your home is already in escrow and set to close in 45 days, for example, your offer is now WAY stronger, WAY more competitive, and gives that Seller a realistic time frame for when they can expect to close on their home.
STEP #3 – START HOUSE HUNTING!
Now that you’ve called us and we’ve gotten your home into escrow—which we do in an average of 14 days—you are ready to start looking! Yay, the fun part! You can feel free to put in multiple offers, and the great part about making them contingent is that one, you don’t have to come up with a huge amount of money to buy the new home before selling yours, and two, you don’t have to sell first, temporarily move into an apartment or hotel, and then move again into your purchased home. In addition, when you follow these steps in order, you save yourself all of the time, energy, and frustration that comes from looking at dozens of homes that you can’t buy yet anyways. We’re not saying you can’t peruse the internet, do some research on your own, and ask us about different neighborhoods you’re interested in. That is all part of making sure you’re ready to move in the first place! But what we are saying is don’t put the cart before the horse; don’t go hard visiting dozens of homes that you want to buy thinking that you can put offers in on them before you’ve even listed your home on the market. Trust us, you’ll be happy you did things the effective, efficient, and smart way in the end!
Thank you so much for reading, and we hope you've found this information helpful! Please reach out if you would like help getting your home into escrow!