“How do I ensure a smooth transition from selling my current home to buying the next?”
This situation can be common for people wanting to stay in the same city and either upsize or downsize. It can have a lot of moving parts, and a successful transition should always be planned and accounted for from day one of meeting your realtor.
Well, there are three different ways of doing this:
1) Offer on a property conditional to the sale of your home
2) Sell your home first, and then buy
3) Buy first, and then sell your home
Given the current, 2022 market and real estate landscape, conditional offers to a sale are not being accepted.
Whether you buy or sell first, will depend on your situation.
If you are looking to sell your condo or townhome, upgrading to your forever home and have the necessary deposit, then finding that right property, first, may be the best option — your home will certainly sell in time.
If the next property you are looking for is more commonly listed, then maximizing the outcome of your sale, with a longer close, first, would be your best route.
It’s a case-by-case basis, but the right realtor will ensure a smooth transition.