Wednesday, November 24, 2010

Maryland Real Estate Authority

Maryland Real Estate Authority

Buy First or Sell First, part 2

Posted: 24 Nov 2010 02:00 AM PST

Many people cannot even consider buying before selling, but for those of you that want to sell your home and are excited about the prospect of going house shopping. Here are some reasons to pause and consider selling before your purchase your next home:

Selling your home first means that you can weigh the offers that come in because you are not in need of a place to stay. You will feel much more comfortable negotiating and will not be tempted to take a price you’re not happy with because you will not be under the constraints you may be under if you buy first.

If the buyer does not object, you can ask your agent to insert a clause into the contract stating that the sale is contingent on you closing the deal on your next home. If the buyer does object, you can ask for a contingency period during which you can look for a new house–typically this period will last one to three weeks.

And if the buyer does not need to move in right away, you can request that the buyer let you rent the home from them while you look for a new place.

And if all else fails, you can sell your Maryland real estate, put your possessions in storage and rent a short-term apartment.

If you are want to sell your home, contact John Day, a top Maryland realtor with decades of experience.
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