How to Sell Your Home While Buying Another House 🏠 Realtor Advice
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- čas přidán 8. 07. 2024
- "Help! I have to sell my current house before I buy another one. Where do I start?" This is a question I get all the time, so get ready for all my best advice.
TIP #1 - UNDERSTAND YOUR FINANCES
There's a difference between NEEDING to sell your current home in order to qualify for the loan on your next house and WANTING to sell your current home. If you fall into the category of wanting to sell, you have more freedom to make offers on listings because you won't have as many contingencies attached, which gives you a leg up on negotiations. This is super important in areas that are a seller's market.
If you need to sell your home in order to qualify for a new mortgage, you will likely be asking sellers to accept your offer with an additional contingency that other offers may not have - the sale is conditional upon the sale of your current home. When your offer is the only one and the rest of the terms are good, most sellers are fine with it. It does get tricky in multiple offer situations, so set your expectations accordingly.
TIP #2 - DON’T PUT THE CART BEFORE THE HORSE
The card in this scenario is your next house, while the horse is your current home. If you can't buy the next house before selling your current one, then most of your focus needs to be on the sale. Don't get overwhelmed about the move and a new house. Spend time preparing your house for sale - decluttering, making repairs, and consulting with your listing real estate agent.
TIP #3 - FIND A NEW REALTOR
Start reaching out to real estate agents in your new city well in advance of your move. Some of you might have relocation companies providing a Realtor, and you do have a say in who represents you. All agents are not created equal, so do your due diligence. If you have a Realtor you love in your current city, ask if they have a referral partner in your new city. You can also check with future co-workers if they have recommendations. Heck, feel free to contact me regardless of the city you're moving to and I'll do my best to find you someone.
TIP #4 - VISITING WITH A PURPOSE
If you have enough time to take multiple trips to your new hometown, take advantage of it! Your first trip should be an introduction trip, not necessarily a house hunting trip. Tour neighborhoods, talk with builders, get a feel for areas you're considering moving to.
TIP #5 - MAKING OFFERS
When you start putting in offers, your current house should already be under contract. Remember what I said earlier about the contingency if your offer is conditional upon the sale of your own home first. Most builders are okay with this, so keep new construction in mind as you house hunt. If your current home is through the inspection period and/or the appraisal, that makes your contingency less risky so be sure your agent communicates this to the listing agent.
TIP #6 - NAVIGATING THE MOVE
Try and negotiate a longer escrow period of 45-60 days to give yourself more time. This gives you a chance to come down to your new city, find a house and get it under contract with enough time to process your mortgage loan. Consult with a moving company to get an estimate on how long it will take to get your belongings from A to B. Same day closings are doable, but there are potential snags that could hold up transactions.
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Melanie is a Tampa Bay area Realtor with Smith & Associates. She loves Tampa Bay area area, houses, and helping clients buy and sell real estate.
Email: matkinson@smithandassociates.com
Call/text me if you are looking to buy / sell a home in the Tampa Bay area! 813.368.6084
DISCLAIMER: All content provided on melanielovestampabay.com and the Melanie Loves Tampa Bay CZcams channel/social media platforms is for informational/entertainment purposes only. The owner of Melanie Loves Tampa Bay makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Information provided is subject to change, please consult Melanie directly or another licensed real estate agent to receive the best expertise for your specific situation.
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Are you in the process of trying to sell your current house? Check out this previous video: 5 Home Selling 🏡 Pitfalls You Need to Avoid czcams.com/video/mEs1l_Cyp_M/video.html
Can you make a video about Hillsborough county? Looking for more information regarding neighborhoods and schools.. Thanks!
Why SELL your house?? I took forex trading as my part time job and I invested with the help of mr Carlos and I got $6,500 after a week, I wish I had done this 3 years ago lol. I'm grateful how he boosted my financial status. All thanks to @carlos_1uptrades on Instergram am making a living trading forex reach out to him for help and dont sell that house
I can’t tell you enough how much this video has helped me!! By far the best video on CZcams that explains this process so clearly! Thank you, thank you, thank you!
This video (which aren't many on this topic) is God sent, thank you
Good advice from Melanie here! We just worked with Melanie on a move from California to the Tampa Bay area and she was awesome. Her advice here is right on and will make your move much less stressful.
This is super helpful, thank you!!
You're a rock star agent - this was an amazing, consice, and well put together market update, thank you! Greetings from Orlando
Thanks. Appreciate it
Thank you for your video! It’s very helpful for me!
Thanks 👋
I don't like getting a referral from my old realtor for a new realtor in the new town. The old realtor takes a sizable chunk of the new realtor's commission for that referral. That makes the new realtor that much less interested in you.
.
Besides that I'm happy to be down here in SWFL. I'll hit my one year mark down here in a little over a month.
thank you; my current situation
Funny, we’ve been learning about Tampa from your vids and when I searched “how to move before selling”, this was first to come up. Look forward to speaking with you in about a year about moving to Tampa!
Love it!!
Very helpful
Melanie rocks!
We are in this scenario. She's spot on. One "tweak" we're incorporating is a massive decluttering and depersonalization of the house we occupy. Minimal furniture, no pictures, everything that we don't NEED is in a box and stored in closets or garage. We aren't going to be decorating it like a show house. People may say it's empty and clean slate, but it's easier to envision carpet, paint, furniture space, and other modifications for the new buyer. Additionally it exposes repair or upkeep options before showing the house. After your pictures or video, get a POD and plop it in driveway. You can extend pickup dates by 30 days if the offers aren't ideal. As always your mileage may very.
The PODs are where they'll give you time to pack your stuff, and then pick it up and transport it, right? What was the cost?
Great video!
Hlw
Oh wow you're right down the street somewhat from me I'm in Tallahassee Florida....🤓
Great video 😊
Also I'll let me pops know this information
I bought beautiful apartment here in Tampa bay, I was sure that I will love Florida. Instead of rent and check If I like to be here I just bought it. I miss New York, this is not the same and I want to be back. I think I’ll sell my condo sale by owner because you’re taking too high %
Can u make a video on how to buy an investment property please? Great video btw 👍🏽👍🏽
thanks for the tip. It'll be about a year from now before I will enter this stressful period. I am going to sell my home in Portland, OR and hopefully move to Jacksonville or Tampa area by next year (june/july). I know my home will sell it's just that I feel I need to move all of my stuff out into Rat Pack storage so work can be done to make it so much more appealing. My best guess from what I see from other homes being sold in my neighborhood is less than 30 days. So that means I will have the funds to look for another home in FL so I may be homeless at most 60 days! lol. I may end up getting a trailer to pull to florida and stay in it until everything pans out well. Another factor is I must get hired in FL at my current company if there's an opening so I don't want to miss out on that aspect. Looking forward to more of your videos.
Good luck with your move. I too will be making a move and also hopefully in a years time. I’m
planning on the Tampa area.
Definitely Melanie will be
Very helpful, she is very friendly and efficient. 👍💯
Hi. From Jacksonville 😊
@@tanjamomo7265 hello back. i was there in July and loved it. I got there just before sunset and was surfing by the pier even as it got dark. Was told shark likes to come in at dark. lol. Opsie. Got a great friend show me around St. Augustine where she lives. Then got to see my Aunt who lives in Boyinton area. Ended the trip in Clearwater Beach riding a wave runner before my flight.
Did you sell your home in Portland and move yet? We are also trying to figure out how to sell and moving to Idaho.
What if I do a subject to and let someone take over my mortgage? Can I still get the benefits of buying a new home without all the hassle?
Hi Melanie. I enjoyed your video which makes it clearer in selling and buying. My question that I'm not clear about is...if I need the cash proceeds from the sale of my current house for the down payment of the new house...at what point do I begin the loan process? Don't I have to show the lender I have the money to put down on the new house? This is where I'm confused. Any clarification/suggestion is greatly appreciated.
hi im moving to florida tampa bay/st petersburg area next year for end of highschool years and college is there any things i need to know before moving i have a canadian passport does that change things for me?
Most people in our neighborhood used smart move..
What's that?
The agent i am suing to buy a house advice me to offer $5,000 over the asking price on the house. saying other sellers have bid on the house. i won the bid but i never got to house loan.and the house still on sale-???
This is amazing. We are currently selling and buying and have spent so much time looking for the new house and confused about the process. Although we will be staying in the same area, it's good to know how the process works. Do you have any advice about how to manage time if your current home sells and you can't find a new home?
Can you be a little more vague, please?
@@joevarga5982 lol
Thank you so much for this information. I do have a question. If that escrow period is up to 60 days or longer on the current home, and if I’m using that time to process the loan, how would they give me a new loan for the new house since I have the current home for sale with a contract on it and haven’t went to closing yet?
Next question, what do I need to do first to see if I even qualify for a loan? Do I get pre approved first then start to put my home on the market for sale? Or do I get it on the market then get pre approval? I don’t want to start the selling process and then find out I can’t get a loan for whatever reason.
I really hope my question makes sense and I appreciate your help!
Did you get some answers?
HOW DOES IT WORK WHEN MY REALTOR FOR SELLING MY HOME CONTACTS THE AGENT IM BUYING A HOME FROM WITHOUT CONTACTING ME SHOULD THIS BE SOMETHING CONCERNING
Hey, I've been a subscriber for about 6 months now and was wondering if you can help me with areas to research in Tampa.. my budget is 200,000 (give or take) for a home. and chances are I will land a job with my experience in the Clearwater/ st Petersburg area so as long as my drive isn't to long (45min or less preferred) are there any places you would recommend me to research? I like the Riverview area but I'm sure my drive will be well over a hour and other then that I'm having trouble finding homes in decent areas to raise my young family (wife & 2 toddlers) I plan on moving in a year or so! Thanks for the videos I enjoy them 😊
I have a house for sale on a canal in Okeechobee Florida
Do I need to wait till all contingencies have been removed from my current home sale, to make offer on homes in new city. I will be a cash buyer.
Hi Karen! That’s a great question and depends on a few factors. Because the market has balanced a bit there are less multiple offer situations now. Depending on the strength of your contract on your current home, a seller may accept the home to sell contingency, even before your contingencies have been removed. Depends on the popularity of the area and the home you want to offer on 😊