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Buying and selling
DH and I decided we want to sell our house. We never planned to do this, but feel it's the right move. We would need to coordinate buying and selling. To be able to buy a new house, we would need ours to sell. I haven't seen anything I like in terms of a house, so it may be 6_8 months until we find something who knows, but we can't buy without selling. We lived with my parents once when we moved from our apartment to house, so I would hate to do that again and now I have 2 kids and a dog. They would gladly let us, but still. What's the best way to go about this?
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Posted 9/17/17 8:12 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
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Re: Buying and selling
In this market you are better off selling and moving in with mom while you house hunt. Houses are getting multiple offers the day they are listed and no one will entertain your offer with a contingency that you need to sell. It isn't ideal to have to live with mom but it will put you in a much better position once you find your next home.
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| Posted 9/17/17 11:40 AM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
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Buying and selling
We're going to be doing this in the near future. You def need a strong agent to help orchestrate everything. Not sure where you're planning to move but if it's not on LI you likely need a separate listing agent and buyers agent.
We have no one to stay with so we're going to have to coordinate both. It's one of the reasons I'm terrified to pull the trigger I don't want to be homeless! I have been assured that while not easy, it is possible to buy and sell concurrently.
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| Posted 9/18/17 10:01 AM |
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bunnyluck
LIF Adult
Member since 1/14 3196 total posts
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Buying and selling
We did it. It was stressful but worked out perfectly for us. We sold on a Monday and bought on a tuesday. We structured our contract so we had 5 days to vacate the house after selling..We essential paid them 5 days of rent at the closing. You just have to list your house and hope for the best. I'd definitely start looking at homes now just to get a sense of the market, plus anything could happen. We found our new home before we sold our old home. They originally accepted an offer the first weekend the home was out but a few weeks later the deal fell through and sellers agent called us to see if we were still interested, worked out great. Anything can happen. But it was stressful.
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| Posted 9/18/17 8:20 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
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Re: Buying and selling
Did you list?
We are so on the fence.....
plus being 17wk preg this could work out really bad on timing LOL
but with interest rates going up and houses may go down i feel like this is the only time to get out!!
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| Posted 10/5/17 11:26 AM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
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Buying and selling
oh -- and why would you have a separate buyer & seller agent?
The real estate agent we like has a buyers contract she sent us and I do NOT like a few things in it. However the only reason i could see not to use her to buy is if we go further west.
I may post a separate topic on this ....
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| Posted 10/5/17 11:28 AM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
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Re: Buying and selling
Posted by Mrs&MrsK
oh -- and why would you have a separate buyer & seller agent?
The real estate agent we like has a buyers contract she sent us and I do NOT like a few things in it. However the only reason i could see not to use her to buy is if we go further west.
I may post a separate topic on this ....
You can if you're buying and selling in the same area. We would be selling on LI and buying in Westchester so we need different agents. You obviously want someone who knows both areas really well and agents also have to pay for access to MLS in the areas they work in. MLSLI encompasses Nassau, Suffolk, Queens, Brooklyn. So any other area falls under a different MLS that the agent usually will not have access to.
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| Posted 10/5/17 2:43 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Re: Buying and selling
Posted by LuckyStar
Posted by Mrs&MrsK
oh -- and why would you have a separate buyer & seller agent?
The real estate agent we like has a buyers contract she sent us and I do NOT like a few things in it. However the only reason i could see not to use her to buy is if we go further west.
I may post a separate topic on this ....
You can if you're buying and selling in the same area. We would be selling on LI and buying in Westchester so we need different agents. You obviously want someone who knows both areas really well and agents also have to pay for access to MLS in the areas they work in. MLSLI encompasses Nassau, Suffolk, Queens, Brooklyn. So any other area falls under a different MLS that the agent usually will not have access to.
OIC. Thanks!
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| Posted 10/5/17 3:18 PM |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
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Mama mama mama....
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Re: Buying and selling
We did this. It can be done. We found a few houses we liked right before we listed our home. Sold our house in four days. Bid on our new house. Got the closings to line up so we didn’t have to move in with relatives. It was bat$hit crazy stressful... but it can be done.
But. If you haven’t seen anything you like, it’s going to make you feel like you’re forced to settle. Do you have to sell right now, or can it wait until you find “the one?”
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| Posted 10/5/17 7:15 PM |
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Re: Buying and selling
Posted by TheDivineMrsM
We did this. It can be done. We found a few houses we liked right before we listed our home. Sold our house in four days. Bid on our new house. Got the closings to line up so we didn’t have to move in with relatives. It was bat$hit crazy stressful... but it can be done.
But. If you haven’t seen anything you like, it’s going to make you feel like you’re forced to settle. Do you have to sell right now, or can it wait until you find “the one?”
Yes we can wait our house is good/ I do love my house but I think Long term selling is best. We would like to be a bit closer to DHs job as he works in queens. When we bought our house we were crazy broke hahah put 5% down and have really come a long way financially since then. Can we afford extra luxuries, no, but selling and using the proceeds (we believe we have maybe 90k in equity based on other houses selling in our area, plus we replaced all the windows, renovated some rooms and just replaced our fence) and using money as a down payment for a new house and keeping some extra in the bank/ pay off some student loans. We don’t need a mansion, our house is small and we would like something a bit bigger but we aren’t in a dire situation to move! Thanks for the feedback!!
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| Posted 10/5/17 8:30 PM |
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