 nimeberi GH | [font="Open Sans", Tahoma, Geneva, sans-serif]Buying a new home at the same time as you’re selling your old home is all about timing — and some luck, of course. And while you can’t control everything that happens during the complicated buying and selling process, there are some things you can do to set yourself up for smooth closings — maybe even on the same day![font="Open Sans", Tahoma, Geneva, sans-serif]Consider this key information on how to buy and sell a house at the same time.[font="Open Sans", Tahoma, Geneva, sans-serif]Evaluate the local housing market[font="Open Sans", Tahoma, Geneva, sans-serif]The state of the real estate market in your area is often the biggest factor in timing your home purchase and sale correctly. Knowing what kind of market you’re in is important whether you’re just moving across town, or if you’re moving across the country. If you’re selling in one market and buying in another, you’ll need to factor that into your timing. The length of time it takes to buy and sell can vary dramatically depending on the local real estate scene.[font="Open Sans", Tahoma, Geneva, sans-serif]What is a buyers market?[font="Open Sans", Tahoma, Geneva, sans-serif]In a buyers market, there are more homes available than people looking to buy. In a buyers market, you’ll likely have an easier time finding your new home than you will selling your old home. Sellers may be willing to accept a contingent offer, which means you agree to purchase their home contingent on selling yours first — more on that later.[font="Open Sans", Tahoma, Geneva, sans-serif]What is a sellers market?[font="Open Sans", Tahoma, Geneva, sans-serif]In a sellers market, there are more buyers in the marketplace than there are homes available. In a sellers market, your current home will likely sell more quickly than you’ll be able to find a new home. Consider asking your buyers to do a rent-back after closing to allow you time to find your new place.
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