Top
David Tapper

I’m selling and buying, what should I do first?

Yesterday, one of my clients (who is both selling his current home and buying another home) asked me if he should sell first or buy. I told him there are always two ways to skin a cat and with the market changing, we need to do things differently and also start thinking outside the box. 

While the temptation may be great to buy a replacement home first, being it”s a buyer’s market; I think it puts the seller/buyer at great risk.

 

If you purchase first, you will know where you are going and how much you will be paying. You also won”t have to worry about finding a place, or lowering your wish list with nowhere to go if your home sells quickly. 

However, the financial risks of buying first are far too great. I believe it’s much better to sell your current home first, and then buy. This way you can “NEGOTIATE FROM A POSTITION OF STRENGTH.” Which is much better than owning and paying for two homes if you purchase first. Or worse, you might have to lower your list price for far below what you were expecting because now you ” HAVE TO SELL”.

Yes, you may have the inconvenience of moving to an interim rental (if that were to even happen), but you can also negotiate more than just price. You can negotiate a longer close of escrow, and/or do a rent back from the buyer of your home once it closes escrow for another 30-60 days.

Be Sociable, Share!

Comments

10 Responses to “I’m selling and buying, what should I do first?”

  1. repossessiongirl on March 16th, 2009 3:14 pm

    Hi there – interesting debate. We often have clients who come to us because they need a fast sale, and they are looking to buy elsewhere, but they dont knwo how to tie the whole thing up. Sellin their house and renting it back gives them the security of a guaranteed sake, and lets them shop around without pressure.

  2. David Tapper on March 17th, 2009 1:42 pm

    Thanks for the feed back. It’s always nice to give your buyers and sellers options.

    Tap

  3. Matthew on May 26th, 2009 8:05 am

    Nice blog you should monetise it with adwords.

  4. Brendan Aiello on May 26th, 2009 7:40 pm

    Hi Matthew,

    Thanks! It is not our intention to ad advertisements to the blog. Our goal is to provide great information to the community while creating a high traffic site to give our clients listings great maximum exposure.

    -Brendan

  5. Albert@Albert on February 9th, 2013 10:01 pm

    Greetings from Los angeles! I’m bored to death at work so I decided to browse your blog on my iphone during lunch break. I really like the knowledge you present here and can’t wait to take a look when I get
    home. I’m amazed at how quick your blog loaded on my cell phone .. I’m not even using WIFI, just 3G .
    . Anyways, amazing site!

  6. Hermine@galaxy note 2 accessories on February 10th, 2013 8:33 am

    Good post. I learn something new and challenging on sites I stumbleupon
    everyday. It will always be helpful to read content from other writers and practice a little something from their sites.

    Take a look at my page; galaxy note 2 accessories

  7. Holly@Holly on February 21st, 2013 11:22 pm

    You actually make it seem so easy along with your presentation however I to find this matter
    to be really something which I feel I’d never understand. It kind of feels too complex and very huge for me. I’m looking
    forward to your subsequent post, I’ll attempt to get the grasp of it!

  8. Kelle@click the following web page on February 23rd, 2013 2:26 pm

    I think this is one of the most vital info for me. And i
    am glad reading your article. But want to remark on few general things, The web site style
    is great, the articles is really excellent : D. Good job,
    cheers

  9. Ismael@Quick house buyers on April 8th, 2013 5:23 am

    Ѕell house fast at PгopeгtyΗouseBuyers

    PropertyHouseBuyers

  10. Skye@sexcams on April 19th, 2013 10:37 am

    Joining with sc – attach new color to hook, insert hook into space or sex cam stitch indicated three loops
    on hook. That may not seem like a paradox, but sex cam obesity and malnutrition often go hand in hand.

    Feel free to visit my web blog :: sexcams

Bottom