Gυяlџ Gυяl wants a hug (: ♥ =]
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sell old house first then go look for a new one lol |
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The Chosen One
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when someone makes a nice offer, then buy another house. cuz if u buy another house, and ur old house has been on the market for some time, then u'll have to pay the mortgage for both until someone buys the old house. |
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im a goonie
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I can drive anywhere in my city and all surrounding cities, and see multiple homes for sale on every street..
personally I would not buy until I have sold. |
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Belle
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You should try and sell first so that you'll have money for the new house. But good luck with that because of how things are right now it might be close to impossible to sell anything without it being crazily underpriced. Maybe you should try and wait a while. |
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sweetpeach1478
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everyone does it a different way. but the ideal way is to sell the first house before buying another. that's the safe way to do it. then people move into temporary short term lease apartments while waiting to move in the new house. trying to determine how hard it is to sell a house really depends on the age of the house, how the condition is. I suggest brushing up on some hgtv shows!! they have tons of shows on how to refurbish your spaces in a affordable manner! |
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Amanda C
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If you're expecting to use the money you make from selling the house to buy the new one, never buy the other one first. If you end up not making as much as you expected, you're seriously hurt for money when you buy a new house. |
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golfgirl3
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It is best to have your old house sold or under contract, before you buy a new one. In todays market you could be sitting on your old one and paying two morgages. But, if you can afford it then go ahead. But the housing market is WAY down right now. I would wait until fall of next year maybe Spring of 2010 before you do anything. |
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rockobud
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definitely sell your old house before buying a new one. Your credit will be much better. |
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prplfae
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In todays market, its difficult. You can't rely on being able to sell your house, because it might stay on the market for a long time and not sell. so your best bet is to sell your house first, and maybe find a place to rent untill you can move. unless you can afford to pay two mortgages. |
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Jasmine
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my dance insturtor brought a house and never sold her house until liek a year and she went in debt I would be careful no matter how many people want that house u want |
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andrew n
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dont even ask with this economy wait a while
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Paul in San Diego
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Back in the days when real estate was booming and properties would only last a week or two on the market, a common situation was to put in an offer that was contingent on the sale of the buyer's existing home. In that case, the buyer would put in an offer with that contingency and, upon having the offer accepted, they would list their existing home for sale. And, escrow on the home they were buying would not close until escrow closed on the home they were selling (or, if they used the same escrow company, it could happen simultaneously).
In 2003, my wife and I found a home for sale that was a move up from where we were. So, we put a sales contingent offer on it and listed our home for sale. The people who made an offer on our house also had an existing home and submitted a sales contingent offer. It got a little dicey there toward the end. But, all escrows closed at the same time 45 days later.
If there had been a problem where we closed escrow on our purchase, but escrow got slowed down on our sale, there is a loan available called a bridge loan, where we could get temporary short-term financing on the purchase until the sale of our old home was finalized. But, these are very hard to obtain in this current market.
These days, no one is going to accept a sales contingency on an offer, because you never know how long a property will be on the market. The best thing to do is to list your house for sale and keep looking around at houses you might want to buy. If you get an offer and escrow closes, you may just have to secure temporary housing while you look for a new place to buy. |
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Ed Atun
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It is easy to do. Put up the For Sale sign.. |
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kathy =)
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BOTH AT THE SAME TIME!!!!!!! |
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smiley_face_boxers
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In this tanking housing market, with the tightening of willy, nilly, shady lending practices, and buyers hard to come buy...you might be SOL!
Can you afford 1 mortgage, let alone 2? YIKES! |
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