Making the decision to buy and sell a home at the same time is a big one that will inevitably feel stressful, but the good news is that your go-to team of Scottsdale mortgage brokers are here to help. It can often feel like you’re walking on a tightrope, swaying from one side to the other. “People do this all the time, though, so everything will be just fine, right?”
You are right that people do it all the time. In many instances, there is certainly a balance to it and in today’s post, we’d like to take an in-depth look at what you can do to make this type of situation work. Is it a flawless process every single time? The truth is that it’s not, but with a bit of guidance, you can give yourself a leg up. Keep reading to learn more!
3 Tips for Buying and Selling at the Same Time
Work With People Who Will Steer You Straight
First and foremost, you’ll want to make sure that you’re surrounded by the right people. Having both an experienced realtor and a mortgage consultant is sure to be absolutely invaluable to you. The truth of the matter is that even under the best circumstances, there will come a time when it feels like things might fall apart.
The good news is that when things seem to be teetering on the edge and you fear for the worst, it’s the people that you’ve enlisted to help you who can find solutions that work for all parties. For example, if you’re making an offer on a home, it might be in your best interest to write into the contract that the sale is contingent upon you selling your home. In some cases, the potential seller of the home you’re interested in buying will be happy to help you make the best of your situation because he or she will still be getting a sale, making it a win all around.
Have an Idea of the Market
In scenarios like the one mentioned above, it’s important to keep in mind that you should have a good idea of how the market is performing at the moment. If, for example, you live in an area where people are all clamoring for starter homes and you’re selling a starter home, there’s a good chance that you’ll have an offer shortly after putting it on the market.
On the other hand, if you’re in a market that’s a little bit slower, it might be more difficult to navigate your way through the timing aspect of things and find a solution that is mutually beneficial for the buyer and the seller alike.
Keep in mind that different people have different expectations; this is why it’s so crucial to surround yourself with the right people like we mentioned in the first tip. These people can steer you in the right direction when things seem to be heading off the tracks.
Know Your Options
Once again, this tip revolves around the people that you’re working with. The company you keep can make a huge difference in even knowing which options are available to you in the first place. Working with both a qualified realtor and a trusted independent mortgage broker will always be in your best interest, because you’re counting on those people to help you find the solutions to the little things that pop up.
For instance, if you are selling your home and it’s currently under contract, but you’re having an issue with securing a loan in the amount of the home you’re hoping to buy, the people you’re working with may know of a loan assistance program that can get you the help you need. Is there a perfect solution for every single problem? Unfortunately not, but when you partner with the right people, you’ll always know that should a situation arise, you’ll be presented with options that make sense for you.
Get Expert Guidance at Scout Mortgage
At Scout Mortgage, we’re Scottsdale’s independent mortgage brokers who would love nothing more than to provide you with the expert guidance that you need to make the right decision for your specific situation. We pride ourselves on making your life just a little bit easier whether you’re shopping for a new mortgage, refinancing your current mortgage, or pre-qualifying for a loan so you can buy a new home. Whatever the case may be, you can count on us to be there for you.
If your goal is to work with a knowledgeable team who can find you a great rate and provide you with low closing costs, look no further than Scout Mortgage. Contact us today to get the process started and you’ll see just how different it can be to work with a team of dedicated, experienced, and licensed professionals. We look forward to hearing from you!