Need to Buy and Sell a Home at the Same Time?

If you are like alot of American homeowners today, you may need to buy and sell a home at the same time.  For example, you got a job in another city or state and must sell your current home before you move while looking for another home to live in somewhere else.  Two of the most critical issues facing a Reno homeowner are money and timing.  What you don't do is just as important as what you do.  Following these tips will help you have a successful real estate transaction on both ends.

Keep a Notebook - Taking good, detailed notes will help make sure you don't miss anything.  Write down any questions you have for your real estate agent, lending company, inspector, etc.  Make a time line of important dates in your moving process.  For example, if you are moving to another city/state for a job, when do you absolutely need to move out of your current home?  Keeping detailed notes of any conversations you have, including times, dates, names and companies, as well as transactions that occur helps you keep track of finances as well as serves as backup in case of a dispute.

Get a Home Inspection - A home inspection report will inform you of any potential problems that may slow down the sale of your Reno home.  You may choose to repair these issues or reduce the list price by considering the cost to repair these issues.

Don't Delay Listing - Get your home listed for sale right away.  The longer you wait, the shorter time frame you will have to sell it before you need to move.

Rental Options - If you sell your old Reno home before you are ready to move into your new Reno home, talk to your agent about your rental options.  For example, some buyers will work with the seller by offering them a "rent-back" option for a short period of time.  This means that you will be able to stay in your home after to sell it by renting it back from the buyer while you wait for your new home purchase to be complete.

Be Flexible - By sticking strictly to your asking price, it may take longer to sell your home.  If an offer comes in that may be even slightly lower than asking price, you should consider taking it as long as it keeps you in line with your moving time frame.

Get it in Writing - Putting the exact window of dates you need your old home sold and your new Reno home closed will keep everyone on the same page and make your transition smoother.

If you need to buy and sell a home at the same time, please contact me.  I can help you with all your Reno real estate needs!