As if one real estate transaction is not hectic enough? many of us end up needing to sell one place in order to move up to the next? this is the "real estate catch 22". Do we buy first?? Do we sell first?? If we are fortunate, these events occur at the same time, but that is not always the case. The problem is trying to determine if it is worse to end up "temporarily homeless" because you sold first, or financially strapped because you bought first.
Conventional wisdom states that IF you can't make them happen simultaneously, it is better to sell before you buy. The rationale? If you sell first, you don't end up at a disadvantage at the negotiating table. This happens by feeling pressured to accept something lackluster for your current home due to your impending closing on the new home. There are several providers of short-term, furnished lease properties that can fill the gap while you find the new dream home if needed. The purpose for finding a furnished property is for the simplicity in moving.
Few people I know want to pack and unpack twice and a few months storage is a small price to pay for the convenience. (For those that enjoy packing, there are support groups available.) And yes, if you were wondering? the two scenarios DO affect the financing angle as well. Having moved on from the first home does help in the debt-to-income ratios that lenders use to qualify you and in the funds that you have available towards the down payment of the new place? both help in the rates that will be available to you.
Genesis Font is an SEO and Developer for LoansInteractive.com > Mortgage and Loan Officer Websites. We also offer Quality Web Hosting Services.
Human nature being what it is, none of us can... Read More
Our complex IRS code requires that your, as a real... Read More
Interior colors are vitally important to selling your home quickly,... Read More
Do you remember when real estate financing meant you saved... Read More
There are several small businesses that retain hundred year old... Read More
If you prefer a home that is unique and has... Read More
We all know that a home or property of any... Read More
It's not uncommon for an investor to sell a house... Read More
Real estate appraisal for rental properties isn't the same as... Read More
Fair Isaac Corporation is the creator of the FICO credit... Read More
Florida Investment Property ? Why Investing is a Wise Decision... Read More
There is more to buying raw land than meets the... Read More
In the United States, less than 10% of all For... Read More
Homebuyers, especially first-timers, may not think of asking about restrictive... Read More
Maui is a great place for families of any size.... Read More
There are many reasons why you would consider joining with... Read More
So, you're thinking of purchasing a rental property... Read More
Under Section 1031 of the Internal Revenue Code, owners of... Read More
The housing market is hot, and you've decided to list... Read More
Several years ago I developed a philosophy in renovating houses... Read More
This article will show you how to sell your home... Read More
These real questions on buying undeveloped land are answered by... Read More
A Specialist Article For Those Interested In Real Estate Development... Read More
When you sell your home, appraisers use comps (comparable market... Read More
You have made the decision to move to Spain and... Read More
An irate tenant or disgruntled home-buyer, with the help of... Read More
This home selection checklist is a tool to help you... Read More
With so many realtors competing for your business, how do... Read More
If you are thinking about buying a second home, you... Read More
Flipping through late-night infomercials recently, I saw two real estate... Read More
The Escrow ProcessBoth Buyer and Seller deserve the assurance that... Read More
You've probably heard a lot of opposing information about Investing... Read More
Okay, so we all can agree - listings are the... Read More
Interested in investing somewhere other than your back yard?Management companies... Read More
Las Vegas is known for it's over the top hotels... Read More
So you've decided to take advantage of the booming real... Read More
Never has there been such an ambitious and creative drive... Read More
You'd like to buy a vacation home, but you're not... Read More
With the recent release from the UK's biggest mortgage lender,... Read More
Over the years several of our clients have had professional... Read More
So you've just returned to your office after delivering an... Read More
Whether you list with an agent or sell on your... Read More
The San Antonio, Texas real estate market is still going... Read More
Whether you're a first-time buyer, selling your current home or... Read More
Turn on the TV at almost any time day or... Read More
Do strangers scare or intimidate you? If you're planning to... Read More
To most, owning a home is a necessity, but sometimes... Read More
Homeownership, in any form, is a big step for most... Read More
In a previous article, we wrote why we believe that... Read More
Financial ConcernsOf the three types of income property, industrial property... Read More
So you're interested in going into business as a property... Read More
Tensions can run high in both the selling and buying... Read More
When buying and selling homes, the property purchase is often... Read More
As if one real estate transaction is not hectic enough?... Read More
Central Illinois is an area rich in cultural activities and... Read More
Everyone knows that at the end of a home inspection,... Read More
Unlike traditional residential real estate mortgages, real estate investment financing... Read More
The prospect of shopping for a new construction residence can... Read More
A lakeside vacation or second home can be a quiet... Read More
When looking for a home, it is important to first... Read More
These are real builder questions that I got from readers... Read More
"Begin With The End In Mind"I first heard the phrase... Read More
Years ago, the only person that could buy a home... Read More
If you have a current mortgage and are unhappy with... Read More
The weak US dollar has been good news for real... Read More
Location, location, location - known as the 3 most important... Read More
Real Estate |