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Buying a new house but you have a house to sell

Buying a new house but you have a house to sell

Dogluvr
Joined: Jun 2010
Posts: 161

Dogluvr
Joined: Jun 2010
Posts: 161

Buying a new house but you have a house to sell
11/15/2015 at 4:12 PM

What to do? Do you sell first and then look for your new place? Do you find your new place and then try to sell your old place? If you do that, do you carry two mortgages until your old house sells? Anyone been through this and how did it work out for you?
Collie
Joined: Sep 2011
Posts: 395

Collie
Joined: Sep 2011
Posts: 395

Offer to Purchase Pending Sale
11/15/2015 at 4:44 PM

Is a very common in real estate. The owner of the home you wish to buy will give you an agreed upon time frame to sell, and if you don't you can withdraw your offer.
0heelside00
Joined: Nov 2008
Posts: 24

0heelside00
Joined: Nov 2008
Posts: 24

Depends
11/15/2015 at 10:03 PM

I think it depends on your situation. We had a place we could go so we sold our home first (and very thankful we did). If there's any way to sell first, that is your best bet. When you do find a house that you love, it makes you a stronger buyer. Sellers love offers that don't have conditions. However if you can't do it that way then yes, you can make offers pending the sale of your own home.
delyla
Joined: May 2011
Posts: 366

delyla
Joined: May 2011
Posts: 366

house
11/15/2015 at 11:08 PM

Collie said "Is a very common in real estate. The owner of the home you wish to buy will give you an agreed upon time frame to sell, and if you don't you can withdraw your offer. "

Who would wait and turn away offers. You would loose the house. You can hold your own house. MY SON bought a great house in Wpg. and another reater sold there in 2 days. S pit commission. They wanted the house.

gowheatsgo
Joined: Mar 2005
Posts: 1133

gowheatsgo

Joined: Mar 2005

Posts: 1133

that's great

11/16/2015 at 8:19 AM

delyla said "

Collie said "Is a very common in real estate. The owner of the home you wish to buy will give you an agreed upon time frame to sell, and if you don't you can withdraw your offer. "

Who would wait and turn away offers. You would loose the house. You can hold your own house. MY SON bought a great house in Wpg. and another reater sold there in 2 days. S pit commission. They wanted the house. "

but, some people won't have that type of luck, and can't carry 2 mortgages.

CatMan
Joined: May 2012
Posts: 1144

CatMan
Joined: May 2012
Posts: 1144

Bridge Financing
11/16/2015 at 8:39 AM

Go to your bank and ask them about "bridge financing". That's what my realtor advised.