Sunday, April 13, 2014

The nightmare: first buy or sell first?

How to solve the problem by removing the two homes at once? It is a mystery to sell your current home, because you have to move and buy again. Often ask the real estate agent's question: What should I buy first or sell first? Nobody wants to answer that question, because there is no correct answer. Or maybe there is, but nobody wants to hear it.

So eto.

It is better for the owner to sell the property before purchasing a new home and then went to rent a home when searching. He! There are - there are now.

Of course, this is just a point of view, so let's look at the pros and cons suggest.

With everything in life, you have to look at the worst situation before making a decision. You can not take the risk of losing your home because you can not stand the thought of not having her life interrupted by one or two months. If you think it's sometimes difficult to make payments on your home, how you'll make two payments on two houses per month?

If you are in a position where you know that you can pay to make two mortgage payments, you can ignore this advice. However, it may be difficult to remove the two loans at a time, even if you think you can afford, so get pre-approved for a loan before you act two. If you move, try to leave some tools to help look 'lived in'.

There is a sneaky way around it - that pretend to rent your home today. It shows that you have a (fake) a higher income than they actually have. Do not let them talk to unscrupulous agents in this situation. Besides the fact that it is a federal crime, you could still lose your house anyway.

In a situation like this where it is requested and approved a bridge loan, the original house (# 1) is still on the market, waiting for a buyer. When you move into a new house (# 2) and start paying two mortgages.

Suppose the market is slow and buyer for the house # 1? After three months you are still paying two mortgages and then dive market. You have to lower the price of home # 1 Well, Emergency Home # 2 was also reduced from the price you just paid for it, and for a high paying two mortgages.

Three months have passed and no sign of the consumer; Three months would be better or worse for you if you stay at home? Once you answer that question, you know the answer to suit your lifestyle.

It is not all bad; There are several advantages to sell first and buy later. Obviously, leaving the house at a certain date in accordance with the other, is an additional incentive for the buyer to choose your home.

If your house is sold and you decide to buy, you will be in a better position to offer a lower price if they are not involved in the chain. How about this: after staying at home, you really appreciate your new home?