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Pitfalls of Buying and Selling at the Same Time

Wednesday, October 6, 2021   /   by Tara Turner

Pitfalls of Buying and Selling at the Same Time

Pitfalls of Buying and Selling at the Same Time

Is it better to sell your current home first and then look for a new one? Should you buy your next home first and then try to sell? The answer? Well...it depends. 

If you sell first, you might find yourself being pressured to find a new home quickly and if you're feeling rushed, you might end up settling for something that is less than what you want or end up overpaying. Of course, if you decide to buy first, you could end up saddled with the expenses for both homes until your current home sells. For most people, finances dictate the answer since they'll need the equity from the sale of their current home to use as a down payment.

There are options. Some people secure a bridge loan that is paid back when their home sells. Others negotiate to sell, but then rent their current home back from the buyer for a period of time. Some people move in with family members or rent until they find their next house. 

It is a difficult decision and there is no right answer. Your realtor can talk through the options with you and help you decide which way is best for you. 

If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070. Mitchell Stein License# 0208163
Stein Team Realty - Keller Williams College Park
Mitchell Stein Dre# 02081632
2440 W Arrow Route #5C
Upland, CA 91786
DRE# 01885348

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2022. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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