Reasons to Sell First and Then Buy
Dallas Real Estate homeowners who are planning to move up often have a tough decision to make: "Should we sell first or buy first?" Many Dallas Real Estate agents will advise you to buy before you sell, but that's rarely in your best interest. It's in that agent's best interest because if you buy, you must sell, and the agent will be guaranteed two sales and two commissions, regardless of how much money and stress it costs you to do it this way. For most sellers, the smart thing to do is to sell before you buy. Reasons to Sell First and Then Buy· Higher Sales Price. If you aren't under pressure to sell quickly you will be able to get a higher sales prices because buyers will realize that you aren’t desperate to sell. · Ability to Negotiate. By selling first, you have time on your side. You don't have to take the first offer that you receive because you already have a place to live, your home. · Contingent on Simultaneous Closing. By making the sale of your home contingent on closing concurrently with your new purchase, you have basically said to the buyer, I can stay or I can go. I’m not selling my home at a cut rate price. · Contingency Period. What if the buyer's agent is smart enough to strike a simultaneous closing clause from the contract. The next best thing to ask for is a time period during which you are free to find a replacement home. A contingency period will give you the right to cancel the contract during that time period if you so choose, which can range, on average, from 10 to 30 days. · Renting After Closing. Some sellers who want to take their time to find the perfect home will often opt to rent back their home after closing. If the buyer doesn't require immediate occupancy, the seller might rent back their own home for the amount of the buyer's new mortgage payment.
Considering selling your home as a ? The added stress to save some commission probably will not be worth it. Leave the job to a professional Dallas Realtor. You don’t want to get yourself in a position where you have to sell your home to a company and receive a fraction of what it is worth. The same goes if you are selling . Take a deep breath and thing all of this through before you make the decision that is best for you.
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