When someone is looking to sell their house and by a new one, they often do not know what they should do first. Should they buy before they sell their home, or should they sell their home and then buy?  Their biggest fear when wanting to buy and sell at the same time is that they don't want to sell too quickly and end up homeless or having to move twice. This is a tricky question that often plagues the Orlando real estate market.

Many people believe that they should find the home they would like to purchase first and get it under contract before they put their house up for sale. The Orlando market is currently a seller's market, which means inventory is low and sellers have more options with a greater chance for multiple offers. If buying a home is contingent upon whether or not you sell your home, sellers are more than likely going to go with someone who is ready to buy immediately. This will cause you to lose leverage, and your options will be very limited.

Our team of REALTORs have been in the business for eleven years and have helped many people who want to buy and sell their home at the same time. As a result, we have put together a 5-Step Cheat Sheet:

  • Step 1: Start looking at houses. You should be making a list of your top three choices.
  • Step 2: Put your house on the market. Find a REALTOR who can help you price your home appropriately and get your house in top showing condition.
  • Step 3: Once you get an offer, you want to negotiate the close date. This is important so you have plenty of time to start the buying process.
  • Step 4: Put an offer in on a house you would like to buy. Revisit your top 3 houses and see what is still available to put an offer in.
  • Step 5: You will want to set up the close dates and times for buying your new home and selling your old home within a couple days of each other. This will help the transaction go through smoothly with a little less stress. 

This process allows you to keep leverage on the buying side and will end up saving you money by allowing your house to sell for top dollar!

As always, we are here to help you! Please feel free to Contact Us, and I hope that I have helped you get real estate smart.

 

The Miller Realty Group is a successful real estate team who provides real estate solutions for residential homeowners in the metro Orlando real estate market, including Lake Mary, Longwood, Heathrow, Sanford, Winter Park, Winter Springs, Altamonte Springs, Maitland, and surrounding cities. Founded in 2006, The Miller Realty Group has transformed themselves into one of the top real estate teams in Central Florida.