Buy First or Sell First? What to Do When You are Ready for a Change of Address
It can be difficult to decide whether to buy first or sell first when you are a current homeowner ready for a new home. Careful thought and research are needed as the sale or purchase of a home is a big decision to make on many levels — personal, emotional, and financial.
Home Search Questions and Contingencies
There are many questions to ask yourself and discuss with your real estate agent. For example, if you buy first, do you have the funds for two mortgages at the same time? If you sell first, how long would you be able to stay in your current home? Can the closing date be extended, or would you be able to rent from the new owners until you find a new home?
The answers to these questions can determine contingency clauses to include in your sales contract.
Contract contingencies can be asked for by a buyer, seller, or both. Work with your real estate agent on needed contingency clauses so that your needs are clear during the sale or purchase of your home.
Help Across the Miles
Sometimes a long-distance move is necessary. Did you know that your local real estate agent can still help you?
Long & Foster has over 200 offices throughout the Mid-Atlantic and Northeast. Plus, we have relationships with a global network of real estate professionals, so we can assist you in finding a connection wherever your new destination may be.
Long & Foster’s Relocation Services also helps connect clients with the moving resources they need. There is peace of mind knowing that there is a local connection still working to help you.
Working with The O’Gorman Team
So, buy first or sell first? It is really about what is best for you. The O’Gorman Team is here to answer any questions or concerns you may have. We work to help our clients make the best decision for their needs, and we have guided many clients through their decision of whether to buy first or sell first, as well as helped them through their home sale and purchase processes.
We have called Reston home for more than 30 years, which provides us with outstanding knowledge of the area. This knowledge, combined with our years of award-winning real estate experience, has enabled us to make solid and trusted connections that can be of benefit to our clients.
Whether you have questions about buying and selling a home in Reston, or if you have questions and are needing an out-of-state residential real estate connection, The O’Gorman Team is here to help. Contact us today!