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Real Estate News

April 9, 2012

Five Tips for Buying and Selling a Home at the Same Time

(Continued)

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2. Start packing. Start boxing up stuff you don’t need easy access to. Get rid of all the things you won’t need until you’ve moved into your new home. This will help make your home show better and starting the packing process now will make it that much easier to move later. You may need to rent a storage unit temporarily for your stuff.

3. Do whatever quick fixes you need to do to sell your home. Do you have a toilet that constantly runs? Is your kitchen right out of the 1950s? If so, get busy fixing those things that could cause your home to sit on the market longer than necessary or affect your home’s value.

4. Start home shopping and learning the market. Start going to open houses and seeing what’s out there. Begin the process of elimination: What are the must-haves and the deal killers?

5. When you’re ready, list it. Depending upon your situation, you might want to list your property toward the higher end of its value range, once you’re actively in the market. This can buy you time while you shop for your next home. And who knows? You might get more money. (It still happens.)

Starting now helps reduce the stress later

From this point on, the situation can play out in any number of ways.

For example, you might find a home you love before you’ve got a firm offer on your house. In that situation, you could make the seller an offer with a contingency that your offer is subject to the sale of your home.

On the other hand, let’s say you’re the seller and someone has made a solid offer on your home. Great. But you haven’t found your next home yet. Here, you might ask the buyer to let you stay in your home for a month or more as a renter, while you continue your house search.

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