Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png How To Sell And Buy A Home At The Same Time – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Tue, 03 Nov 2015 12:15:18 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Tips For Selling & Buying A Home Simultaneously  [caption id="attachment_3169" align="aligncenter" width="450" class=" "]How To Navigate & Successfully Sell And Buy A Home At The Same Time How To Navigate & Successfully Sell And Buy A Home At The Same Time[/caption] Every real estate transaction is different and unique in its own way.  Some real estate transactions are straight forward while others have several hurdles that need to be overcome. One of the trickiest situations that can exist in real estate is when a person has to sell and buy a home at the same time.  There are many different techniques that can be used to sell and buy a home simultaneously. It's important if you're planning to sell and buy a home at the same time, you understand what options you have and also understand the potential scenarios that can result.  If you happen to be selling a home for the first time, it's even more important to be comfortable with the potential scenarios that you may encounter. Read on to find a complete guide on how to sell and buy a home at the same time.  Below you will find information on what the difference is between non-contingent and contingent.  There are also many PROs and CONs to both buying a home first prior to selling a home and vice versa. What Is The Difference Between Non-Contingent & Contingent? If you're in the market to sell and buy a home at the same time, contingent is a term that you should become familiar with.  Contingent can easily be defined as a something occurring only if other circumstances are fulfilled.  In real estate there are many common contract contingencies that can exist.  If you're going to sell and buy a home at the same time the one to become familiar with is the sale and transfer of title contingency. Understanding the difference between a non-contingent buyer and contingent buyer is very important.  A non-contingent buyer is someone who is able to purchase a home without needing to sell a property in order to do so.  A non-contingent buyer is the type of buyer that you want to attract when selling your home.  When buying a home, it's also the type of buyer you'd prefer to be, especially if you're buying a home in a sellers market. A contingent buyer is someone who is able to purchase a home, however, needs to sell a property in order to do so.  If you're selling a home, receiving a purchase offer contingent on the sale of another property is certainly better than receiving no offer, however, its fairly common that a purchase offer that is contingent on selling another property does not end up closing. What Are The PROs Of Buying A Home Prior To Selling Your Home? [caption id="attachment_3171" align="aligncenter" width="450" class=" "]Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside! Tips For Selling & Buying A Home Simultaneously - See All The PROs & CONs Of Buying A Home Before Selling Inside![/caption] The time it takes to buy a home cannot be predicted.  Some buyers will find the perfect home on the first day they look at homes and others may take months.  One benefit to buying a home prior to selling your home is that you know you've found a home that you want to buy.  If you know that what you're looking for in a home is not common or easily found, buying a home prior to selling your home could be a good option for you. Another benefit of buying a home prior to selling your existing home is that you're able to perform any inspections on your new home.  There are many reasons why having a home inspection is a great idea when buying a home.  Buying a home prior to selling your home gives you the opportunity to walkaway from a home if the inspection results are poor without having to feel pressured into buying a home you're not comfortable with because your existing home is sold and you need a place to live. What Are The CONs Of Buying A Home Prior To Selling Your Home? Buying a home prior to selling your home can be devastating as well.  You may be asking yourself how buying a home prior to selling your home can be devastating. If you need to sell your existing home in order to buy a new home, submitting an offer contingent on the sale of your home can often lead to your accepted offer getting "bumped." Getting "bumped" in real estate simply means that a seller receives an offer that is "better" from a different buyer and requests that the contingent buyer either removes their contingency of needing to sell their home (and provide proof that they are able too either by providing a bank statement or pre-approval indicating they have the immediate funds available) or their offer will be null and void.  This is the reason buying a home prior to selling your home can be devastating, because losing a home that you fall in love with can be extremely difficult. Another potential drawback to buying a home prior to selling your existing home is that some sellers will not entertain contingent offers.  This is extremely common to homeowners who are relocating and are using a relocation company.  Most relocation companies will not entertain offers that are sale contingent.  This can limit the number of potential homes that you're able to purchase due to your home sale contingency. Buying a home prior to selling your existing home does give you the extra time to perform inspections and can be a benefit to buying before selling, however, it's possible you're wasting valuable dollars on these inspections.  Spending your hard earned money on the inspections of a home that you may get "bumped" on is an obvious negative to buying a home before selling your existing home. What Are The PROs Of Selling Your Home Prior To Buying A Home? [caption id="attachment_3173" align="aligncenter" width="450" class=" "]How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home! How To Solve The Puzzle Of Buying & Selling A Home At The Same Time - See All The PROs & The CONs Of Selling A Home Prior To Finding A New Home![/caption] Most people who have bought and sold homes in the past will tell you that selling a home is more difficult than buying a home.  A huge benefit to selling your home prior to buying a home is that you know you've secured a ready, willing, and able buyer.  This is extremely beneficial when looking for your new home as you will no longer be sale contingent, just contingent on the transfer of title on your existing home.  A buyer who is not sale contingent is a much more appealing buyer for sellers. Another PRO of selling your home prior to buying a new one is that you will know exactly how much your home is going to sell for.  This can be extremely important for a buyer if they are planning on using the proceeds from the sale of their existing home. What Are The CONs Of Selling Your Home Prior To Buying A Home? If you're going to sell and buy a home at the same time, it's critical you hire a top real estate agent who has experience with helping people sell and buy homes at the same time!  The primary reason for making sure you have a top real estate agent and also the biggest drawback of selling your home prior to buying a home is the possibility of having to rush to find a new home. A top real estate agent can help negotiate not only a longer closing on your existing home but also attempt to negotiate a rent back period of your home.  If your real estate agent is able to negotiate a rent back, this can allow additional time for you to remain in your home which can allow you the time to find a new home. Tips To Prepare To Sell And Buy A Home At The Same Time Get Your Home Market Ready Before selling your home, it's extremely important to make sure your home is market ready.  There are certain things you should know prior to listing your home for sale! One of the best ways to get your home market ready is to get advice from a local real estate professional.  A real estate agent who is an expert in your local area will know what you should do prior to your home being listed for sale.  They should be able to give advice on what repairs, upgrades, and updates that you should consider doing prior to listing your home for sale. How can you ensure you hire a real estate agent who is an expert in your local area? There are specific questions to ask real estate agents while interviewing.  A seller who knows how to properly interview prospective real estate agents greatly increases the chances they hire a rock star and not a DUD for a real estate agent. Get Your Finances In Order A homeowner who is going to sell and buy a home at the same time needs to have their finances in order.  The most important thing to find out prior to selling and buying a home simultaneously is whether you can qualify for a mortgage without having to sell your existing home.  The majority of people are unable to do so but if you're able, this can be a huge advantage. When getting a pre-approval for a mortgage, ask the mortgage consultant you're working with whether buying non-contingent is an option or not.  If buying a home non-contingent is an option, but you feel more comfortable buying contingent, consider having the mortgage consultant still issue a non-contingent pre-approval. This non-contingent pre-approval may be useful in the event you get "bumped" while purchasing a home sale contingent, should you decide you want to purchase the home and remove the sale contingency on your existing home. Even if you're unable to purchase a home non-contingent, it's still extremely important to get pre-approved for a mortgage.  Since a mortgage pre-approval can take a handful of days to complete, having this completed prior to looking for a new home or listing your home for sale is important. Know Your Game Plan One of the biggest mistakes that homeowners make who are attempting to sell and buy a home at the same time make is they don't have a game plan in place. Below are several questions that you should answer prior to beginning the tricky process of selling and buying a home simultaneously.
  1. Will I list my home prior to looking at homes that are for sale?
  2. Will I make any offer received on my home contingent on finding a suitable property for myself?
  3. Will I find a new home prior to listing my home for sale?
  4. If needed, do I have a place to move should my home sell fast and I haven't found a new home yet?
  5. If needed, can I afford to put my belongings in storage for a short period of time?
  6. Can I afford to purchase a home that would make it worth selling my existing home?
Final Thoughts To sell and buy a home at the same time it's important to understand exactly what to expect throughout the process.  It's also vital to have a game plan in place and to stick to it! If you think buying a home prior to selling your existing home is the best for your situation, then stick to it!  If you think selling your home prior to buying a new home is the best for your situation, then stick to it! In most situations, I strongly recommend that you sell your existing home prior to buying a new home.  It generally will make the process less complicated and also can be significantly less stressful and devastating. Other Articles & Resources On How To Sell And Buy A Home At The Same Time Selling and buying a home in Rochester, NY?  If you're a homeowner and are not sure where to start with the sale of your current home and purchase of your future home, contact me.  I'd love to share my expertise and give you my advice on how to get your home sold and how to find you a perfect new home all while keeping the process seem stress free!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors:  The above article "How To Sell And Buy A Home At The Same Time" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>