Hi there! I'm Patricia, your friendly real estate agent based in Syosset, NY. 🌟
In a perfect world, buying and selling your home simultaneously would go just according to schedule. But in reality, things don't always pan out as smoothly or as quickly as we'd like.
Don't worry, though! I've got a few tricks and strategies up my sleeve to help smooth out any wrinkles in your plan:
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Leasebacks: These allow you to sell your home and then rent it back temporarily from the new owner. This way, you can find and close on your dream home without rushing or having to move twice.
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Bridge loans: A great temporary financing solution that bridges the gap between selling your current home and purchasing a new one.
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Phase 1: You might not have to make monthly payments on your new home, but interest will accrue.
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Phase 2: Once your current home sells, you use the proceeds to pay off the bridge loan, including accrued interest.
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A bridge loan can free you from the contingency of selling your home before buying a new one, giving you a competitive edge in a hot real estate market.
Planning to buy and sell at the same time? Here are a few more dos and don'ts for you:
• Sync your closing dates as best you can.
• Have a backup plan for where to stay if the timing doesn’t align. Explore the strategies above.
• Keep the lines of communication open with your real estate team. No question is off-limits!
• Don’t let the details overwhelm you. Remember, this is temporary. Soon enough, you'll be settled into your new home!
Want to learn more about buying and selling? Message me for a free copy of my “buying & selling simultaneously” guide!
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