Link to Owner Dr. Robert B. Pamplin Jr.

FONT & AUDIO

MORE STORIES


Brought to you by Lake Oswego Principal Broker Mike Hall, Hasson Company Realtors - LAKE OSWEGO REAL ESTATE INSIDER -

Lake Oswego Principal Broker Mike Hall, Hasson Company Realtors - LAKE OSWEGO REAL ESTATE INSIDERWhich comes first — selling your home or buying another? It's a quandary, unless carrying two homes is no trouble for you.

Selling first makes your purchase "non-contingent" and stronger but could leave you without a home temporarily. Buying first might require you to write an offer "contingent" on your sale… not ideal in some markets, but may work today.

Among the many options to explore:

• Make your sale contingent upon finding your replacement property. Buyers make all kinds of concessions today, and if they love your home, they may find this perfectly acceptable.

• Negotiate a long closing on your sale, and/or a "rentback" to delay your departure. Again, buyers might be glad to flex on timing.

• As a buyer, bridge loans used to help, but they're mostly extinct today. Similarly, a line of credit on your home might be a perfect way to get temporary funds.

• Consult your CPA or financial adviser about tapping other assets temporarily as bridge funds, "paying yourself back" once your home sells.

• Make your purchase offer contingent. It's not futile! An otherwise strong offer and some creativity by your agent may be good enough to make a seller say yes!

• Simply be OK with moving twice. It's not the end of the world. It's simpler in a way. Neither the sell nor the buy is complicated. You can negotiate a little more firmly on both and come out ahead financially.

Give me a call with any questions.

Mike Hall

Hasson Company Realtors

15400 SW Boones Ferry Road

Lake Oswego 97035

503-341-5915

www.mikehall.hasson.com

Go to top
JSN Time 2 is designed by JoomlaShine.com | powered by JSN Sun Framework