Jeremy Jenks: My team loves to surprise me with some questions, just like I was sitting with you guys and we were talking on your couch, trying to figure out what to do with buying or selling your own personal home. So I’ve got a list of questions in here. Let’s see what we come up with this week for surprise expert commentary.
Can I buy a home and sell my current one at the same time?
Boy, that’s like a chicken or an egg question, okay? I wish I had some fix all way to just magically move you from the house you don’t want into the house that you want. But it is a little slightly bit more complicated. This one generally comes down to – now not every situation’s the same, but generally – what this boils down to is do I need the funds out of the house I’m currently living in order to purchase the house that I’m going to be moving into? So it can be kind of a financial situation, okay? If I need that money, then what I need to do is close on the first house, get everything lined up, have the second house under contract, try and get all of those dominoes in place, which, of course, we’ve been successful doing with many of our clients. But if there’s any hiccup on the way, you can have a night where your stuff stays on the moving truck for a night or you have a delay in a closing. I’ve had people who have stayed in the hotel for a couple of nights. It’s a lot of factors to line up.
If you don’t need the funds out of closing from the previous house, then what happens is you can go ahead and buy that second house and just kind of casually move slowly move into this one, maybe leave this one staged for awhile so it’s easier to sell. So it’s much less stressful, but if you think about it, you may have a couple double mortgage payments. So it is a little bit more expensive way to go, but it is less stressful. So, it’s up to you. Again, that deciding factor is usually a do you need the funds out of the first house that kind of drives the rest of the bus on that decisionmaking process. But either way, we’re here to help you and line up the closing as best we can.
Need help? Call The Trembley Group at 843.945.1880 ext. 1 and we’ll help you look for the perfect listing or buyers agent!
At The Trembley Group, we pride ourselves on being the experts at more than just selling real estate. We are local residents, some of us have been here for a lifetime. The rest of us will be here until the end of time. We love living, working, and playing in the diverse backyard of Coastal Carolina, and look forward to helping you live and love your dreams soon too. Please reach out to us by phone or email for personalized service and one-on-one advice.