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Buying and Selling, Which Comes First?

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Buying and Selling, Which Comes First?

Kenna Wagner

Kenna's career is dedicated to exceeding the buyer’s expectations and to always do what is right for the customer...

Kenna's career is dedicated to exceeding the buyer’s expectations and to always do what is right for the customer...

May 29 2 minutes read

Most home sellers ponder the same question when deciding their sales timeline:

"Should I sell my home first and then try to find a new home once I have accepted an offer?  Or should I instead find the new home I want to buy and then put my current home on the market for sale?"

The answer to this question is rooted in a risk-reward analysis that you must consider before the process begins. It's clear that selling your home first gives you the most amount of information about your potential new home.  You'll know how much money you'll have from your property sale to put towards your new home and you'll know when your moving date will be.  If you have very particular or absolute needs for your new home, though, there is a risk that you won't find a suitable destination in a convenient time frame.  


  


If instead you purchase a new home before selling your current one, you can always make the purchase offer conditional upon the sale of your home.  Unfortunately, a conditional purchase places you in a weaker negotiating position than you would be in without having the home sale condition- especially in a seller's market.  You can often negotiate a better purchase price by making a firm offer on your new home if you are comfortable with the potential risk of owning two homes until you sell your current residence.  

  

There is no right answer to this question;

it depends on your specific needs and your risk tolerance.  Talk with your Kasby Real Estate Group sales professional about making the best choice for you!

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