If you are trying to sell and buy a home at the same time, know that this is a very common situation in real estate transactions and one that can be much easier to complete if supported by competent professionals.
We want to tell you, therefore, that if you identify with this case, yours is certainly not an isolated case! Certainly selling and buying a house is a fairly complex but feasible path if, as mentioned, you rely on experienced hands.
There are many families who change their living needs over time, for example, when the family unit expands, work moves its location from one city to another, road traffic increases more and more and pushes us closer to the place of work or services, as well as in many other disparate cases.
No matter what the lever is that pushes you to make this important change, but crucial now is the time factor: you will have to ask yourself when you want to move and in what time frame to coordinate the operations. Relying, therefore, on the guidance of a real estate agency will enable you to make no mistakes, to have an accurate and real assessment of your property for sale, an estimate of the time frame for all this, and active help in finding the property that meets your needs.
The next step is to focus on your home for sale: the goal is to arrive at an accurate estimate of the revenue you will be able to achieve from selling the home so that you can then figure out what budget you will have for the new purchase.
Even for your new home, it is important to rely on an expert who will evaluate with you the different parameters to consider in order to make the right choice.
As we always advise our clients, once your house is on the market, you can go looking for new proposals. Always remember to consider not only the aesthetic aspects but also some important details, as it is not enough for the structure of the house to look good, you should also consider what kind of work you will have to do and whether there will be a need for massive or minor renovation.
If you have found your dream home but have not yet sold your one option is to tie the purchase to the sale, thus locking the purchase of the new home to the sale of your current home.It will suffice to enter into a purchase proposal that is tied to the sale although it must be said that it is not always liked by the owners. Always consider that no one will wait for you for too long; in such cases an agreement between the parties is always established, which is usually between 45 and 75 days.
Even if it was not in your initial plans to buy before you sold, you can always consider the advantages of this situation; one of them is that once you find your dream home, you will be able to make the move with peace of mind. On the flip side, the downsides are that you will not be able to take out a new mortgage, for example, and this situation may lead you to sell off your home to speed up the selling process.
We can also find ourselves in the opposite situation! If we have found someone interested in your home and you haven't found your new home yet?
This is also a fairly common anxiety but don't worry! In case you sell your current house first, you can also in this situation Enter into a compromise with the buyer and sell your house with a clause for a deed a few months down the road or consider a lease for a transitional period. This will give you plenty of time to look for your new home.
Also do not forget to prepare all necessary documentation such as:
- Title to the property
- Succession documentation
- Cadastral planimetry
- Energy certification certificate
After explaining to you all the avenues for successful completion of all these transactions, our advice is to always rely on experts in the real estate field who will be able to explain to you in the simplest way possible what you will need and, above all, to protect your interests.