Scottsdale real estate | relocating buying and selling tips that work. Selling your current home before buying another makes good financial sense. Until your first home is sold, there's no way of knowing exactly how much money you'll have to work with--you could end up under-buying or over-buying. Also, as you approach settlement on your new home without selling first, you may find yourself under pressure to get your old home sold fast--even if it means dropping the price below market value.
Although you may be able to get a bridge loan to help finance your new home before your old one sells, this type of loan represents an additional expense, and will come with a time limit. What if your old home doesn't sell within the time frame allotted? Again, you could be forced to sell with less-than-favorable terms
The secret to a successful relocation is timing -- synchronized buying, moving and selling. Good timing just takes a little advance planning that puts you in control. Here are seven relocation secrets to make your move work smoothly for you.
2. Find Out What You Can Afford
While your house is on the market, look at what's available to buy within your price range in your destination area. Your perfect house is out there, but take as much time as you can to find it. It's not just the house you'll have to live with -- you'll want to find out about the neighborhood, the schools, proximity to shopping, etc. before you commit to your next home.
3. Shop For A Loan Before You Shop For A House
Try to lock in the best rate you can find. Get pre-approved for financing so you have more bargaining power when you bid on a house. With a pre-approved loan, you'll be able to go to closing on your new house faster.
4. Coordinate Settlements and Moving Dates
Try to move directly from the old home to the new one. Sometimes you can rent back the old property for a few days or weeks if closing on the new one is delayed. Another alternative is an interim move to an apartment for a short time while waiting to close on the new house.
5. Begin Fix-Ups And Pre-Sale Improvements Early
Have any needed work completed before your house goes on the market. Consider having a home inspection early in the fix-up process so you know what's important to repair or replace before you set the sales price for your house.
6. Work Closely With Your Agent
Make sure every "i" is dotted and every "t" crossed on time for both closings. You may save time and money for the buyer of your old home with lower "re-issue" fees by referring them to the previous providers of inspections, surveys, title insurance, etc. The information is in your settlement papers. And, if it's a busy season, line up appointments in advance with the people you'll need to close on your new house.
7. Avoid the Last-Minute Rush
Call us early. We'll gather information and provide it to you quickly so you can make informed decisions and workable plans.
For more valuable tips on how to make a seamless transition to your new home, read our articles at http://www.ScottsdaleRealEstateArizona.com
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