Do you want to buy and sell the property at the same time? You need to finance the purchase of new property after the sale of existing property. The complications are the reason why the sellers often delay to change housing, and despite the fact that change often solve complicated family situation. Exchanging properties is useful regardless of whether you are a young family or rather belong to a generation of seniors.
In such a situation, purchasing the property is often more important than sell it profitably. It is easy to then get to the stress and eventually sell below cost. According to statistics we are willing to go down with the price up to 30%. How to avoid such a scenario?
Until now, there are basically only two scenarios for exchanging old for new properties.
The stress may harm you
First, you have the possibility to directly advertise an existing apartment and at the same time look for new. And try to do both – selling and buying – occurred in mutual connection. When you find a buyer, it is necessary to negotiate about an extension of the time to manage searching of new house and transferring to the new location.
Finding a suitable apartment and negotiations for its purchase has coincided. If you find a new home before a buyer for an existing property, it is necessary to convince the bank or the seller to wait for the money from the sale. Other times, you may turn in vain looking for suitable new home, even though you have moved out of original.
In short, in such a scenario, the stress may make an uncertain end for the property owner getting involved in more complicated situations.
Annoying temporary housing
Another possibility may be to find temporary housing. Such a scenario means that you sell first and then now searching a new home. Before you manage to purchase new property, it is possible to move a couple of months to sublease.
While this addresses the situation with the hasty sale because you do not have to worry that you will end up on the street, but it carries additional responsibility with it.
So how do you avoid stressful purchase and sale, while you need to move to the new house?
Simplify your life
To deal with this stressful process, finally you should find a local real estate broker who can help their clients to facilitate the exchange of property.
How does it work? It helps first to move to new and then sell the old without time pressure and without forced reduction in prices.
Real estate agency will also give guarantee to the bank for you. It provides a one-time loan for which you will be able to buy a new home immediately. It will then take care of the profitable sale of your existing property.
Now time will be on your side and you do not have to sell below cost. And as soon as your old property sells, the bank repay the loan that you provide through the realtor to purchase new property.
Some real estate agents even promise that if your old property is not sold within a year, they do not redeem it. It gives you one hundred percent surety that you do not owe the bank anything.
When moving into a smaller, the remaining amount after repayment of the loan will be sent directly to your account. If you are moving to a bigger and have sufficient own resources, a good real estate agent can help arrange the necessary financing. This all is to calm your new home.