Buying and Selling at the Same Time? Here's What to Know

If you're buying a home while you're trying to sell the one you currently live in, there are a few tricks of the trade your real estate agent might share with you - and a few things you shouldn't do, too.

Buying and Selling at the Same Time? Here's What to Know

If you're attempting to handle two real estate transactions at once, here's what you need to know:

  • You need loan preapproval to house-hunt
  • Have some "padding" when it comes to a down payment
  • Use the same agent for both transactions

#1. Preapproval

It's always a good idea to get loan preapproval before you start searching for your dream home. That way, when you find a home you love, you'll be able to make an offer quickly - and the seller is more likely to accept it, too. 

#2. Down Payment Leeway

Don't count on using the profits from your current home to make a down payment on your next home. If you have to accept an offer that's lower than your asking price, it could jeopardize your purchase.

#3. Working With One Agent

You can keep your whole process more streamlined if you work with one agent for the sale of your current home and the purchase of your next one. That way, you don't have to juggle important dates or worry about communicating other issues.

Are You Buying a Home in Lakewood?

If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our Lakewood real estate listings to find your dream home today!

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