PowerPoint Presentation

What You Need to Know About Buying and Selling a Home at the Same Time

Many of them choose to buy a new home rather than rent. However, their ability to make the purchase of a new home is dependent on selling their current property.http://michaelputnam.com

Know Your BudgetThere are several ways to accomplish your goals based on how much money you have in savings or your discretionary income.

First, figure out what kind of house youre looking for and what is likely to be the monthly payments.Decide if you have enough money in savings to cover the extra mortgage and for how long.http://michaelputnam.com

Know the MarketOnce you understand the housing market better, you can work with a realtor to strategize. You may determine you feel more comfortable with selling your home first and renting until you find a place to buy.http://michaelputnam.com

Basically, a homeowner has a few options when they want to sell and buy a home around the same time.

Buy first and move out before selling only works if you can qualify for the second mortgage with the first one included in your budgetSell first and move out before buying you have to find a short-term rental or move in with family and end up moving twiceBuy and sell at the same time make your purchase contingent on being able to sell your current home to protect youConsider Your Optionshttp://michaelputnam.com

Be PreparedBuying or selling a home is a stressful time when youre only dealing with one transaction. To ensure everything goes according to plan, you must be prepared.

Have more cash on hand than you think youll need.Be honest and upfront with your realtor and lender through the process.Stay informed through every step of the process by asking questions.Come up with a backup plan if one of the transactions stalls or falls through.http://michaelputnam.com

Dont jump into any decision until youve thought it through carefully. Understand the various issues that could come up and make plans for how you will deal with each one. On the other hand, working with a knowledgeable lender and realtor and being prepared can make this time in your life as painless as possible.http://michaelputnam.com

Questions? More Information?

Website: http://michaelputnam.comMichael Putnam info@michaelputnam.com703-928-6514Sources: http://michaelputnam.com/need-know-buying-selling-home-time/http://www.realtor.com/advice/buy/buying-a-house-while-selling-a-house/

http://michaelputnam.com