Columbia 1/9/2015 1:05:00 AM
News / Real Estate
Simultaneously Buy and Sell in Columbia, South Carolina with The Padalino and Guram Team
Sell first, then buy is usually the safest plan, despite requiring multiple moves. This course requires you to sell your home first before looking for new homes. What a majority of people do in this situation is move most of their property into storage and arrange a temporary living space while searching for a new home. One advantage to this plan is knowing how much you can spend on a new home without worrying about temporary financing. Furthermore, if you do not a have a new home waiting for you, you are less likely to drop your price or take the first offer you get.
On the other hand, one thing you won’t know for sure is how long you are going to be looking for a new home, and this is a very disruptive process.
Then there is the Buy First, Then Sell method. This strategy minimizes your inconvenience as you can always move into your new home at anytime and take time preparing and selling your old home. The problem with this method is it’s risky should you still owe money on your home. Not only are you now responsible for two mortgages, but also the security, upkeep and taxes on both properties. This scenario is best if your old home is completely paid off.
Unfortunately, we do not live in a perfect world where buying and selling homes simultaneously is the norm, because too often one or more things happen that leaves you in one of the two situations above. More often than not is the financing that gets most people stuck. Make sure that you have a plan in case something falls through on either the purchase or the sale of your current home. This is where the Padalino and Guram Team come into play.
Call The Padalino and Guram Team at 803 575 0595 or email us at info@yourworldrealestate.com
