You’ve been thinking about selling your house, right? You want to cash in on that equity, but you have no idea how to buy and sell in this crazy market.
Let me give you the 4️⃣1️⃣1️⃣
You can either buy first or sell first.
If you buy and move into your new house first, it can make life a lot easier. No temporary storage units. No crashing on a family member’s couch.
However, getting a mortgage for your new home can be a little tricky if you haven’t paid off the mortgage of your first (aka current) home.
Getting a mortgage will be easier, since you won’t be getting what looks like a second mortgage. However, you may need to couch surf a little between the time you sell your first home and when you buy & move into your new home.
An option you have here is something called a “lease back” or a “rent back.”
You sell your house first, but in your contract, you stipulate that you get to rent or lease your previously-owned home for a certain period of time.
This timeframe could be anywhere from a few days to a few months, depending on your needs. It allows you to live in your original home (even though you no longer own it) while you’re working on buying your next home.
All that to say, if you’ve been someone who has been on the fence about selling because you don’t know where you’re going to live after you move, let’s talk! My goal is to make your life transition as seamless as possible.