Buying a new home and selling an existing home at the same time has it's own set of difficulties. But with planning, you can ensure everything goes smoothly.

Before putting your house on the market or committing to buying a new one, take a look at the prices of houses in the areas where you'll be selling and buying. You'll need a realistic idea of how much similar houses are going for. Since you're both a buyer and a seller, you'll need to protect yourself in your weaker role while letting your stronger role take care of itself.

What if you're unable to perfectly time the sale of one house with the purchase of another? You may own no houses for a time, in which case you'll need money in the bank and a temporary place to live. Or, you may own two houses at once. That's why it's important to have a back-up plan. Here are some options to consider:
 

Alternatively, you may be able to draw on a home equity line of credit on your old home. However, you might pay a penalty fee if you sell the house within a year.

To learn more, contact one of our knowledgeable ASSOCIATES or email us at BUYINGINFO@SBAREALTY.US We look forward to partner up in servicing your real estate needs.