Unless you are a first time buyer or seller, there are likely two sides to your real estate experience. If you’re selling, you may be looking for something to buy and if you’re buying you probably have something to sell. Timing is everything! The following tips will help you along the process:
• Are you in a financial position to purchase a house before selling your current property? If not, talk to your financial institution about a bridge loan. This temporary loan (no more than 6 months) usually provides for interest-only payments.
• Will you have temporary shelter if you sell the home before you finalize the purchase of another? Investigate options such as renting back from the new owners for a short period of time, renting an apartment, staying at a hotel or staying with friends or with relatives. The best option will depend on the specifics of your transaction and your financial standing. Don’t forget to think about storage and moving options for your belongings.
• How will the timing of the move or moves interrupt daily activities? Don’t forget to provide your child’s school, your employer or other important relationships with your contact information and your expected length of stay.
Ideally, you’d like both the sale and purchase closing dates to be as close as possible. Contact me to discuss the options to ensure you make the best choices throughout the process.
Date is between Apr 2011 and Sep 2011
Property Sub Class is ‘Single Family Residential’
City CityCodeName is ‘SJ San Jose’
Results calculated from approximately 3,300 listings
As an experienced agent, I can help you maximize your time by only considering homes that meet your budget requirements. To be in a strong position to negotiate with a seller, it’s best to be pre-approved for a mortgage.
That means you have a written commitment from a lender for a specific mortgage amount. To a seller, that means you’re a serious buyer. Prequalification is also an option, but that is only an estimate of how much you should qualify for.
There are many different financing options that should be investigated thoroughly before making a final decision. You’re past credit history and the amount of outstanding debt will each play a part in the qualification process.
If you’re considering a move, or hear that any family, friends, neighbors or colleagues are, please feel free to contact me.