***Should You Buy or Sell First?*** Thinking Of Selling Call Sutton Group First!
You need to sell your home, which means you need to buy a new one...but not before you sell your current one.. which should be first on your 'to do' list?!
This concept is Real Estate's very own "which came first: the chicken or the egg?" question.
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If you sell first, you may find yourself under a tight deadline to find another house, or be forced in temporary quarters. If you buy first, you may be saddled with two mortgage payments for at least a couple months. You may need the money from the sale of your
original home in order to pre-qualify for a loan for your new home.
Advantages of Selling First:
• Selling first can be less stressful; you no longer have the risk of owning (and paying) for two houses
• You now have time to get preapproved for a mortgage, and shop in the price range comfortable for you
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You can write a contingency contract, but if you really want the home, you’ll pay more of a premium, if the seller will even entertain a contingent offer. If you go ahead with a contingent offer, then you may end up settling for less for the house you’re selling in an effort to get it sold quickly.
Advantages of Buying First:
• If you buy first you have somewhere to go; selling first could mean that the new owners are moving in and you have to pay for accomidations
• Buying first means moving once. If you are required to move out
• Ability to spend more time looking for a home you love
Each person's needs require the individual attention of one of our Sutton Realtors.
Call us to help guide your desision to your dream home. 905-896-3333 416-896-3333
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