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To sell or not to sell? (before you buy) That is the question?

Have you every heard this advice? "Make sure you have your home sold before you find your new home." This can be good advice or bad advice, it can cost you thousands and you may not get what you want in your new home.

I'm not saying don't put your home on the market, but I am saying you really want to start looking at the same time your home is put on the market. The reason I say this is because if you don't have an idea what you are looking for or the prices of the kinds of homes you are looking at. If your home sells before you start looking, you may panic and buy the first thing you see at a much higher price than you would if you took your time and knew the market.

There are many reasons not to panic. Did you know if you find that dream home you can purchase it and move in prior to your present home selling? What you should do is get what is called a bridge loan to finance your new home, while your present home is in the process of selling. There are other options also. Use your present homes equity to purchase your dream home or borrow from your retirement fund for 3 months while your other home is for sale, then payback your retirement fund with the proceeds. Talk to your accountant prior to using your retirement fund for down payment assistance. If done at the wrong time of year there can be many tax implications. Using these for down payment assistance and also for your monthly payments on your present home can save you from panicking on the sale of your home. You don't want to take to low of an offer, just because you have 2 payments to make now.

Also, you may want to consider talking to a Realtor that understand owner financing. By offering owner financing you can net up to 20% more for your home than you could by using traditional bank financing. To find out more about Owner Financing and how you can make $50,000 or more extra on the sale of your home, please feel free to contact me anytime for a free, no obligation consultation.

I'm Ready To Start My Home Search

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

Thinking of buying? Start your home search by clicking here
Thinking of selling? Find how much your home is worth by clicking here

 

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Comment balloon 0 commentsRespect Realty LLC • March 21 2007 08:36PM
To sell or not to sell? (before you buy) That is the question?
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